Earlier this month, I was at a conference regarding web3 material. While many of the topics were new, there was one that really stuck out; The notion that if you have any sort of creative ability, the world wants to see it and it’s easier than ever to do so.
I saw 13-year-olds create and change their lives because of NFT’s and that was more than enough proof for me to understand the potential ahead of us.
While we try to take risk-averse decisions, this is one that has been staring us in the face for over a month now.
What makes a Risk Averse Investment?
My wife and I decided to get an Ipad so she can start creating digital art AKA NFT’s. This way, we can slowly build and develop art pieces that people enjoy/resonate with and make it accessible to anyone that likes them. We can list it on a marketplace and any time they sell, she will receive a royalty indefinitely.
While it’s good to have a project that has a detailed idea of what’s next, we’re only a few days in to seriously considering what our next plan of attack will be. That being said, we are going to sell a few items that are no longer needed in our house like a high-quality Michael Kors purse and a children’s playground along with some other money we have around the home. The goal would then be to slowly build a community which is built around my wife’s art.
What’s on the horizon for getting the Ipad for NFT’s?
For the time being, getting the Ipad is step one and learning how to draw on procreate. From there, it’s important for us to continue to develop and adjust the capabilities of her drawings to become more and more unique. From there, we can publish the drawings for free, and charge a small fee of $10-$25 for the art and can consider raising prices as she gets more comfortable as she progresses.
So in terms of it Being risk averse,the iPad could be a really risk averse investment for us.We will spend anywhere from $600 to $1000 to get one unless we decided to get a used one,and then the return could be continuous for the life of the drawings.Therefore, for $1,000 to then have the potential to create $10,000-$100,000+ is a really unique opportunity in the web 3 space.
Wrapping up the Risk averse NFT decision
So that really is what risk averse investments is all about; putting money in with the knowledge that the risk is low and upside is incredible. An example is house hacking in real estate, you buy a home with a low down payment, rent out another part of the home/unit, then live for reduced/free cost of living while you build equity. For us, the ipad is a great idea especially if we double it as a work computer. I think given the options, it’s almost a no brainer to get one since it’s a tool to create digital art with.
There are other reasons but we’d also like to start exploring alternative methods to create an impact and earn a living from. It will start out small and eventually, we’re confident we can really do some good in the NFT world. Since there are multiple uses for the Ipad, that’s what makes it a really risk averse investment especially when using it for digital art purposes for other’s to have for themselves.