EP44: Economics of NFT Flipping with Kiefer Zang

03/17/21 • 25 min

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This month is on #NFT. The hottest thing in NFT is how one can flip the NFT for insane profits. So today, we have Kiefer Zang, founder of NFT Flipping. Instead of talking about NFT flipping, we will focus on the economics of NFT flipping, the supply, demand and economics of why this is making sense.

Enjoy!

Get the book at book.economicsdesign.com

Kiefer Zang from www.nftflipping.com

Enjoy!

Get the book at book.economicsdesign.com

Kiefer Zang from www.nftflipping.com

Previous Episode

EP 43: What is #NFT crypto? I The economics of NFT I NFT art and DeFi explained

NFT is the hype recently, powered by "non-crypto" influential individuals like Mark Cuban, Chamath Palihapitiya and Gary Vaynerchuk talking about it.

You might be thinking, "uhhhh virtual assets and digital assets exist. Why should I care about NFT?". Well, with the advent of blockchain (new technology), we take the existing assets (digital and virtual assets) and improve upon them!

NFT is one of the key foundations of the new digital economy, powered by blockchain. NFT has been tested in areas such as gaming, digital identity, licensing, certification and fine arts. Users can even split and proportionally own items of high value.

Today, we dive into what NFTs are, the economics of NFTs and how NFTs can be combined with DeFi.

Not all NFTs are created equal but refine the foundations and protocols that deliver true value to make the right "money-down" decisions.

Get the book at book.economicsdesign.com

Next Episode

EP45, The Economics of Betting on NFT | Polygon (MATIC) NFT Infrastructure

This month is on NFT. We chatted about the economics of NFT, and the economics of NFT flipping last week. A few days ago, an art piece was sold at $69 million by Beeple (https://onlineonly.christies.com/s/first-open-beeple/beeple-b-1981-1/112924)! Of which, $9m is in fees. My mistake, that $9m is to Christie and not the network's transaction.

In any case, transaction fees are still a problem. Not only is it expensive to buy an NFT (we mentioned this 2 weeks ago), but also expensive to MINT NFT. That might be causing the huge inflation in prices, since the fixed cost to mint the NFT is already high.

Hence, I want to talk about Polygon ($Matic) today. Up to now, when the bottlenecks of the Ethereum network have not been fully resolved, Layer 2 solutions are showing their remarkable advantages. Formerly #Matic Network, #Polygon has great ambitions to deploy all Layer 2 solutions on themselves.

NFTs are moving to Polygon because it is cheaper and faster. Also, the level of security on Layer 1 of Ethereum is good but not a necessary function. In this episode, we look at the 4 layers of Polygon and understand the quick dive into the token design!

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