Xen Crypto - Xenft Tutorial/Xen&Btcmyk Only Cryptos That Matter!

Welcome back to the channel. I hope you all have had a great day. Uh, I do apologize for my last video. Uh, it was cut short, some technical difficulties, my camera died. Um, but today we want to talk a little bit about ZenFTs, uh, do a sort of tutorial. Hopefully my camera doesn't die, uh, like the last video. These are exciting times for the XEN community and, uh, XENFTs. We're going to talk a little bit about how they work, right? So many of you are familiar with NFTs, non-fungible tokens, right? These are tokens that have specifications, uh, unique to itself, right? Imagine a currency that is a different denomination, uh, and so on and so forth, right? Um, what's unique about the NFT version that Zen has created is that it is allowing for the Zen cryptocurrency to be burned. We know that when there is a free cryptocurrency given out, we do start to get in some of the more rudimentary ideas of economics where, well, if everything was free then it would have no value, right? You just kind of have it. It'd just kind of be free. But if there was scarcity introduced into it, then it becomes valuable to people because, uh, it is not accessible to everyone, right? And so ZenFT is introducing, uh, now that concept into Zen which coupled with it being a free cryptocurrency and idea, right, will create, uh, uh, uh, masses of people coming in, which creates network effect and value, but then a deflate— deflation in it, the scarcity, the rarity that now makes it valuable at the same time, right? Perfect combination when you introduce opportunity on a scale like this where you can— where everybody has access to it, yet it's valuable. Imagine if everybody had access to gold, but gold was still valuable. So let's get into the classes of these NFTs, right? Now that we understand, uh, what the purpose of these NFTs are, uh, how do they work And what can you do with them once you have them, right? What do they mean to the person who acquires them? Where's the value in it, right? Obviously the value is tied up in the Zen cryptocurrency. The first class that you're going to be able— we're introduced to is called the Apex category, uh, and this is basically, uh, the total supply, um, of the Apex Zen TORN is less or equal to 10,000 ZEN, right? Now there are only 100 of these, uh, ZEN cryptocurrencies, right? And I believe to be able to get one, if I'm not mistaken, you have to burn something like 10 billion ZEN, which is around $50,000 or so, right? So the basic idea, uh, with this being you're going to take that much ZEN off the market and there's only going to be 100 of these things, right? So they are extremely rare. Again, tapping into that scarcity idea. Then you get down here to the limited, uh, edition, right, which is limited by time, 365-day issuance. Um, users in possession are willing to burn XEN tokens for the privilege to mint one of the limited XENFTs. So not limited by supply but limited by time, right? And so these different classes of these ZenFTs, uh, what are you going to be able to do with them, right? Also, I just want to put this up right out here real quick. Many of you all know I advocate for free cryptocurrencies, so when it comes to something like a ZenFT, uh, and kind of playing the game of, of burning them and then selling the NFTs, I'm not a big fan of of NFTs and buying cryptocurrencies, right? And the basic idea behind that is that, and this might fly over many of our heads, but currencies, right? The root word of cryptocurrency, currency. When I think of crypto, we mostly think of currencies, right? Because we're thinking about how they impact us and how we distribute them on a day-to-day basis. But in understanding a currency, a currency that's marked at $1 has no more value than a currency that's worth $1 million. And I know that's hard for many of us to understand, but the value proposition is the same, that these currencies are used as mediums of exchange, right? The purpose of the currency is a type of transaction right? Uh, between people, think of something like, uh, the barter system where maybe thousands of years ago you would, we would have, uh, bartered cattle for, uh, a barrel, a, uh, bushel of corn, right? Uh, it would equal the same amount of cows for the corn. It really wouldn't matter the value of the underlying commodity, right? You know, as they say, the price doesn't really matter. It's about the stability of it and its value in representation to the next thing, right? The confusion in cryptocurrency has become, we treat them more like unregistered securities, asset classes, stocks, and so on. Uh, that's not a currency, uh, and we can run into prob— we run into a lot of issues with that, right? And cryptos get used less as a currency, something more prone to spread more economic prosperity to people. But I don't want to get off ZenFTs. We're just trying to put this in a, in a very understandable way. And that is to say that ZenFTs acquiring ZenFTs, uh, through the minting process, uh, you want to be careful, uh, with engaging in ZenFTs, especially if you, you're buying the Zen cryptocurrency. If you're minting it, uh, you still have, you know, minus the fees, right? Uh, you're also going to be able to, once you obtain this NFT, put it on places, NFT markets like OpenSea and so on, right? So there may be a value to collect on your ZenFTs if you decide that you don't want to mint the Zen later on, right? And, uh, maybe you can, uh, engage with another customer out there or buyer, uh, who will accept your ZenFT, uh, before it matures, right? So kind of think of the ZenFT, uh, as containing the underlying Zen cryptocurrency that you can— you have the right now. You've, you have this contractual right, so to speak, to execute it at a later time, right, to get that ZenFT, right? Uh, now you can mint these particular ZenFTs, it looks like, uh, for free, the ZenFT Collector. Um, but, uh, Rob, again, just Proceed with caution with that. Why get rid of your Zen? Of course, the good part of it being, uh, as Zen is burned through these NFTs, the entire community gains value, right, from the displacement of this Zen, giving more value to the Zen that's currently in circulation, right? And that's very basic understanding of cryptocurrencies and burning and rarity and less cryptocurrency, right? So very interesting. This is what's causing a lot of the excitement in ZenFTs, right? Um, that people are gonna get this, this now artwork, this now tangible thing, so to speak, that is now represented by this Zen, this burned Zen, and so on, and the right to mint this Zen at a future date. Um, this is going to be available tomorrow, right? So we're down to less than 24 hours, and, uh, some of the predictions about the XIN supply is just, um, going to be, uh, astronomical. The amount and the value of XIN that might be, uh, taken from the supply and what that could mean for the appreciation and the value of XIN, which many of us community are excited about. I'm at this point, guys, and I really want you all to, to think about what I'm saying here. When you come across a project, a project as exciting as Zen that checks so many boxes, makes so much sense as far as accessibility, you not being limited to the size of a person's pocketbook, the opportunity of a person to gain as much Zen, minting Zen, as so many other people. And that kind of just takes me briefly into the next part of these NFTs, and that you're going to be able to mint these things without getting all these wallets, without collecting all these wallets, right? Uh, it's got— you're going to be able to just pay the gas fees and through the app put into the ZenFT, uh, your, your wallets, right? Put all your wallets in and, uh, basically monitor them and mint all your wallets at once through a mass collective situation, right? So in other words, basically you won't have to— if you have 100 wallets, you won't have to mint each individual wallet. You can mint them all, uh, at one time with these NFTs, right? Hope that makes sense to some of you all. Um, So, um, what I'm looking at here now, guys, when we come across a project, it's a project as exciting as— exciting as in, I haven't been excited about projects and cryptocurrency in forever. You know, Bitcoin's boring these days. It's dropping. It's around $16,000. Um, Ethereum, pretty much the same thing. Uh, you know, as far as well as its complexities, uh as far as mass adoption, limiting people coming in because it's just too difficult, the wallet interfaces, for most your average person. But all these things taken into consideration, a project like XIN that's occurring on multiple blockchains, which means it can pretty much end up on almost any blockchain, give an opportunity to a more vast array of cryptocurrency users. Uh, what's happening is, uh, the accessibility of Zen is growing, but Zen is almost like the perfect cryptocurrency because it's covering all the bases. My question to the crypto community is, with something— with a product like Zen, there— is there a reason for many other cryptocurrencies to exist? Because what I'm seeing is like 90% of cryptocurrencies can go away because they're not even close. They almost become obsolete in comparison to Zen. And that's many cryptocurrencies, right? And unfortunately, I would even go so far as to say that's HEX, the HEX cryptocurrency as well, right? Because these projects depend a lot on a type of business-like product, uh, and not so much like a network use case base situation like what you get with Zen, which I believe in the future probably will function more like a currency. As you go back to my earlier video that, or earlier portion of the video that talks about the difference between a currency and how we've been treating cryptocurrencies like these kind of penny stocks, unregistered security, very, very high risk, lose all your money vehicles, right? And that's the truth, guys, right? Some of y'all completely understand what I'm saying. Some of y'all, maybe you need to watch the video a few times, let it sit with you a while. Uh, most cryptocurrencies go out the window. In fact, all of them go out the window with the exception of Zen. And I hate to say I'm a Zen maximalist, uh, but it's become— I've become that now. Simply looking at what's happening. Now, that said, the first proof of participation model that I think touched on many of the ideas and basis of XAN was BitcoinMYK, a project I founded myself, and it's one I encourage you all to look into because I believe that BitcoinMYK and the XAN cryptocurrency are going to be the only cryptocurrencies that match