What are NFTs?
NFT stands for Non-Fungible Token. Nicht-fungibel bedeutet in dem Fall, dass die (digitalen) Objekte nicht austauschbar, beziehungsweise ersetzbar sind. Einen Fünf-Euro-Schein kann man beispielsweise beliebig oft austauschen, ein Einfamilienhaus hingegen nicht. Genauso verhält es sich mit digitalen Kunstwerken: Es sind digitale Unikate, welche nicht ersetzbar sind. Der Inhaber ist zugleich auch Eigentümer des digitalen Eigentums- und Besitznachweises.

A smart contract ensures that the ownership of a digital work of art is authentic and not just copied via screenshot or a “right click and save”. Ownership can be verified at any time because the technology is based on the blockchain.
NFT technology, which first became popular in the art world, has spread into other industries. For example, Alfa Romeo was the first automobile manufacturer to introduce NFT technology into its cars. In this way they can prove that the mileage hasn’t been manipulated and that maintenance was carried out regularly and according to plan, because it is documented in a foolproof way: on the blockchain.  

The event industry is using NFT technology to provide digital proof of ownership for tickets. This makes it harder for scalpers and scammers to sell tickets on the black market. Buyers won’t fall for counterfeit tickets.  

How can I buy NFTs?
There are two ways to get NFTs. First option: mint an NFT from a project that you’re interested in. Once you have set up your digital wallet and added some cryptocurrency, such as Ether, you’re ready to make your first purchase. You can find info about a project on its Twitter profile. You will also find a link to the project website where you can mint the token. This means you are “buying” an NFT without having seen it before – for example, if it is a PFP (Profile Picture) project. These projects usually consist of 10,000 unique profile pictures which are digitally generated. For some projects, the metadata is only released after the mint, so you don’t know beforehand which piece of art you are minting. OpenSea, the No. 1 marketplace in the NFT space, works like a pair of glasses that enable you to see the NFTs you have minted, claimed or purchased on the blockchain.  

It’s also important to know that there are two token standards: ERC 721 and ERC 1155. An ERC 721 token (such as NFTs from the Bored Ape Yacht Club, or BAYC for short) is unique and can only exist once. With an ERC 1155 token (for example, from “adidas into the metaverse”), there can be 10,000 or even 100,000 NFTs with an identical picture.  

There are also NFTs with a single motif that can be minted in only a very limited number. In this case, you would know what the motif would be before you minted (such as a photo or another work of art (generative art).

The second option: You buy your NFT on the secondary market, such as on the OpenSea platform. Here, the price will usually be higher than minting, since sellers want to make a profit from their previously minted NFTs. This process is similar to eBay: You can see what the NFT and the price and you can also contact the seller to try to negotiate a better price.

You can find out more about how to purchase Ether, how to set up a crypto wallet and how to buy or mint your first NFT in the USA Today bestselling book “NFTs and the Future of Finance” (published by FinanzBuch Verlag) where Mike Hager describes every step in great detail.

Are NFTs a sensible investment?
No matter what you invest in, you should only ever invest an amount that you can afford to lose. But as with any investment, in the NFT business it is important to be able to distinguish between investments that make sense and those that don’t. Putting your entire savings into a single investment category has never been wise. It’s all about diversification! And if you keep your eyes on decentralized blockchain technology in addition to conventional forms of investing, you will want to look into NFTs: the digital certificates of ownership stored on the blockchain. So far, NFT technology, in the form of non-fungible tokens, has mainly made it into the mainstream news when expensive NFT art changes hands. This could be an art project of photography or the so-called PFP (Profile Picture) projects, which can comprise 10 thousand different pictures, generated digitally, and having lots of different traits, such as those of little animals. Anyone able to mint or buy NFTs of the so-called OG projects, which were there right from the beginning, basically has it made. There were a lot of cool and funky projects in the beginning, which managed to whet people’s appetite for this basic technology, however, the focus now is increasingly on applying the technology in everyday life. Wherever certificates of ownership are involved, NFTs can come into play. Just think of all the benefits for purchasing tickets online. Mike Hager, the NFT “Guru,” offers valuable tips on investing on the blockchain – and, of course, in NFTs – in his online mentoring program, Future of Finance, for speakers of German.

How can I recognize a good NFT project?
In the crypto space, just like in real life, you can’t go wrong if you take this saying to heart: It’s better to err on the side of caution! Because just like in real life, there are plenty of shady characters lurking around dark corners trying to take your money. Every day, scammers are thinking up new ways to get their hands on someone else’s NFTs and cryptocurrency using nasty tricks and schemes with falsified information. Entire fake NFT projects have been set up with the sole purpose of robbing people of their money or NFTs.

You’ll notice that serious NFT projects have very active Twitter profiles. They also operate their own Discord server, which regularly sends out updates on the NFT project’s roadmap – i.e. the project’s purpose and current state of affairs along with upcoming events. Serious projects are designed for the long term and offer their NFT holders and investors benefits, called “utilities”: because it’s the small gifts that keep friendships alive.

Another basic rule of thumb is to buy artwork that you genuinely like and are proud to own. And once you start to fill your wallet with NFTs, you want to keep them safe! So never give out your seed phrase (that’s the password to the crypto wallet, which consists of twelve or twenty-four words.) I’m not joking – never give it out to anyone, no matter how nice and helpful they may seem. No reputable person or NFT project will ask you for it! And one last caveat: the investment should never be in an amount that would hurt you financially, if the value were suddenly to sink drastically – you should be able to ride the waves to get through a downturn or survive a crash. After all, the NFT space is a very volatile and high-risk investment at the moment.

Can I take part in the Future of Finance?
Mike Hager’s “Future of Finance” is a unique and online-based program, offering mentoring to people who want to dive into the NFT and crypto space, speak German, and fulfill all the prerequisites for becoming successful in this space. Since its launch in 2021, Mike Hager, who is known internationally as the “NFT Guru,” has led more than 450 people from this group through the NFT jungle. Participants get insider information, industry updates and the latest trends and news first-hand, and up-to-the-minute by Mike Hager himself along with his team. Participants take part in a weekly Zoom call, where they have the opportunity to listen and ask questions in live lectures and webinars on specific topics. Here, the stars in the NFT space regularly come to share their insights: whether Gary Vee, Justin Aversano or Erik Snowfro, to name a few – Mike Hager has knowledgeable connections in the industry, who are among the most successful artists and investors internationally.

Participants in the “Future of Finance” mentoring program are also given access to a Telegram channel where they can exchange information even more quickly. And, of course, Mike Hager has also set up its own Discord server for members only. There is a wide range of videos to help newbies learn how to set up a wallet, for example, or buy their first cryptocurrency on the blockchain. The youngest participant

Who is Mike Hager?
Mike Hager, born in 1974, serves as the gold standard when it comes to NFTs in Europe. His mentoring program “Future of Finance” is followed by over 450 people in Europe. Mike Hager has made a name for himself internationally as a high-risk investor and crypto expert. He regularly connects with the international crypto elite – all over the world. His books on investment, money and NFTs have made it onto bestseller lists for weeks at a time. Mike Hager has published the first ever print version of an NFT Magazine on the topic of Non-Fungible Tokens. A further world premiere, “Bored Beer,” is coming soon under the label of his 10APES lifestyle brand. If you want to find out more about NFT technology, Mike Hager is always on it: his YouTube channel for German speakers is one of the most extensive online channels on the subject of NFT and crypto. It’s easy to see why they call Mike Hager the NFT Guru.

What did Mike do before he became one of the world’s most successful NFT investors (he still hasn’t let go of his ten minted “Bored Apes” from the Bored Ape Yacht Club, for example)? He’s been no stranger to the media limelight since the 2000s, particularly in Bavaria, where he embodied his humorous radio alter ego “studio technician Nullinger” on the airwaves of Germany’s widest reaching private radio station, Antenne Bayern, for some 20 years. Bavarians know and love him simply as “Nullinger” which translates roughly as “no way” in German. 90% of Bavarian radio listeners know the cult figure created by Mike Hager, who made hundreds of thousands of listeners have a good laugh every day. Mike was also able to build up a huge fan base as a presenter on ARD television in Germany.

Mike Hager, the superstar – it wasn’t always that way. Before Mike Hager came to know life on the sunny side of the street, he went through some pretty hard times. At one time he weighed 130 kilos  and was at least as heavily into debt.  Without a good job, and with no prospects, no love, and no idea how to change things, he seemed light-years away from making his  big dream of working  in radio come true. It seemed totally unrealistic to most that he be able to earn a living on the radio, especially with such a thick accent and no experience, and not just behind the scenes, but in front of the microphone! Because that’s where Mike wanted to be! His situation seemed  hopeless  and Mike didn’t have a clue how to turn things around.  

However, he didn’t give up. With a will of iron, he began studying books on weight loss and finances and finally brought about the turning point: Mike Hager lost 50 kilos in one and a half years. He reduced his mountain of debt and became a real estate investor in Munich. Today he is the proud owner of a very handsome real estate portfolio.