In this episode of “Y.E.L. 2.0”, your host Peter Voogd, serial Entrepreneur, Mentor, Speaker, Best-selling Author, and Founder of the prestigious ‘Game Changers Academy’ shares a simple way to understand NFTs. He gives out some great points which we need to research before investing. He also explains how they sold out their first NFT project. Episode Highlights First, understand why you’re investing, and then it’s important to adapt and understand where the markets are going. It's an understanding and an awareness of what's coming and how to decipher real value from hype. The biggest key to succeeding in this industry is, understanding how to research projects so you don't get scammed. Research the team/the founders who are involved, you should never invest in a project where the founders are anonymous. The artwork has to be differentiated as to bring people in. We should look for projects that give results right away. Peter doesn't want to be involved with people that make that much money that doesn't want to improve society and get back to culture. A lot of people value hype and quantity over quality. We want to value quality over quantity. What is longevity look like? What is their plan to make sure the holders consistently get value delivered, and the value of the NFT goes up? We should keep in mind while we’re looking at projects, is there a roadmap that's proven that's consistent that shows that the holders will consistently get value. When you see a project organically growing delivering consistent value with a little bit of hype and excitement, then that's something you might want to get invested in. Only take opinions from people who you would trade places with who have similar results that you have. Don't trade based on emotion or FOMO trade based on due diligence, preparation, understanding, and awareness. Three Key Points We should be finding projects that have both utility and value attached. The reason why 90 plus percent fail is that there is a lot of hype, a lot of promises, hidden owners, and no real-world value. Peter shares simple five things on how they sold out their first NFT project - 1. The right people were involved. 2. They had artwork that was unique and differentiated. 3. They had real-world utility and value right away. 4. The collective intelligence of their holders. 5. Massive give back. Tweetable Quotes “A lot of people right now are losing money in the NFT space but a lot of people are crushing it as well.” – Peter Voogd “Now the best way I've learned to understand and I can describe it to you is its digital art with value attached.” - Peter Voogd “I knew everything will be NFT's in the next five or 10 years.” – Peter Voogd “I would never personally invest in a project where you don't know the owners.” – Peter Voogd “Projects that have promised, hopes and dreams for, later on, I don't like investing in them because it's easy to promise it's hard to deliver real results.” – Peter Voogd “I just personally don't want to invest in a project doesn't have given back.” – Peter Voogd “I think too many people focus so much on hype, and I think sometimes the more hype in a project, the less real-world value it has.” – Peter Voogd “You got to be careful and understand just because a celebrity promotes it, that doesn't mean anything.” - Peter Voogd Resources Mentioned Peter Voogd: Facebook       Instagram        Twitter      YouTube    Snapchat   LinkedIn Podcast Editing