Asset Backed NFTs | BeesSocial Crypto NFT Innovation

This video is about asset backed NFT's from https://BEES.Social and the whole focus on this is to help you understand why it's important and why it makes sense. Why should you care about asset backed NFT's? An Asset Backed NFT is a non fungible token, which most of us have seen like works of art that and borrowing against something that you can speculate on its value.

Read an in depth article about the asset backed NFT here https://medium.com/bees-social/asset-backed-nfts-4e09269b2d88

Watch this Crypto NFT video on Youtube here: https://youtu.be/KttlkP5kW2c

I love that the NFT is a collectible. It's going to be valuable. Once a Babe Rut card or a brand new issue from somebody who's been an artist. Someplace else that's gonna be worth a lot now and it might be worth more, it might be worth more when they're dead. That sort of thing. That's the art and that's where you rely on art dealers speculative markets and other things you really tell you and explain to you what's really relevant about that an asset back to NFT eliminates that slop in the system.

The NFT That you get will be backed by a specific amount of assets. In our case, it's a liquidity pool that may hold $10,000 worth of Ethereum and $10,000 worth of another token , $20,000 in value that denominated as a liquidity pool token that will be associated with an NFT. So therefore if somebody wanted to sell this NFT to one other person without unstated without screwing up liquidity for that particular token that's in that liquidity pool, they could do so because the explicit asset amount associated with that NFT is locked into it in the Blockchain. That means that you can go sell this NFT And there's no question about its value. It's written right on there and that's why it's so important that you understand. You can also take this NFT and look at other protocols that are coming up and take this asset backed NFT and use it there. You can use it for collateral, you could stake it in another pool, you can do a variety of things with it. But understand the difference between a piece of art that's an NFT And A NFT that is associated with a bucket of actual capital that there is no question as to what it's worth. And that is why an asset backed NFT is so incredibly important and why I used to be interested in that versus the NFT which are interesting which are collectible, which are really neat and art does appreciate.

But you're gonna have to rely on a whole other group of people to value that and a market going back and forth based upon rumors and whatever happens in the art community versus this, which is an explicit value. Here's a cool thing just to kind of throw you up on this asset backed NFT. They're also issuing a piece of art. At least in the case would be social. So if you want to have a conversation with somebody about a little bit more about what it is that piece of art could be worth something or it could be not. But it really comes down to the assets backing it that's going to tell you what it's really worth. And as you listen as to what people are letting people do with lending protocols and staking protocols, Just think about if you were going to borrow against a piece of art, how much would they give you that for that piece of art? Would that change as the value of that art went down? If the value that art went down, would you be liquidated versus if you were to borrow against a specific asset group that was Worth about $20,000 in capital, how much is it worth, $20,000 in capital or the market price of the two tokens?

Those are easily tracked and maybe not as volatile as art. A piece of art that's going to be valued by an appraiser. So just think about it that way. This opens up a brand new door for a lot of people to think about this. But one of the things that I want to do is make sure that you understood the why, why it was important and why it's even worth talking about. Thanks a lot. And if you have more questions you know where to find us. But an asset backed NFT and get used to saying it because it's going to be something that you're going to be using on a regular basis.

Check out the breaking news video about the asset backed NFT's from BeesSocial https://youtu.be/FXGdDwavB7E

Learn more about Blockchain Smart Contracts https://vimeopro.com/beessocial/blockchain-smart-contracts

Yield Farming Crypto Guide https://vimeopro.com/beessocial/yield-farming/video/524025857

Subscribe to the BEESSocial Youtube Channel https://www.youtube.com/c/BeesSocialTV/

Check out the breaking news video about the asset backed NFT's from BeesSocial https://youtu.be/FXGdDwavB7E

Check out these Asset Backed NFT's from https://BEES.Social

YFU

https://opensea.io/collection/bees-social-asset-backed-nfts

IUPixel

https://opensea.io/collection/bees-social-asset-backed-nfts-v2

Starwire.io

https://opensea.io/collection/bees-social-asset-backed-nfts-v3