The non-fungible nature of NFTs makes them valuable because they tend to be released in limited quantities:<ul><li>Though one could see an NFT collection with 10,000 different models being minted and sold, they cannot be re-released once they are gone.</li><li>Traditional stocks can be duplicated almost infinitely, prompting people to sell the same share several times. However, NFTs are unique and cannot be reliably reproduced.</li><li>The unique factor of NFTs makes them more valuable with time, combined, of course, with the scarcity as mentioned above.</li></ul>

NFTs are scarce

<ul>
<li>If there are only an X number of NFTs available ever, then that means after all of them are sold out, it’s over. This is what’s known as absolute scarcity.</li>
<li>However, even inside the pool of available NFTs in a collection, there’s another type of scarcity: relative scarcitywhich can be an essential factor in determining if an NFT can be a viable long-term asset or not. In a group of NFTs, there’s only a finite number of illustrations with similar characteristics. If it’s a mummy NFT project, there could be a limited number of NFTs that have a specific trait or characteristic.</li>
</ul>

The scarcity of an NFT is determined by its availability

NFTs are viable and have been promoting the creation of decentralized business.<ul><li>Thanks to virtual lands and the Metaverse, we’ve seen decentralized real estate become a million-dollar business almost overnight.</li><li>Soon, decentralized service providers will use NFTs as their calling cards for their services.</li><li>NFTs can be catalysts for new economic models, as we’ve seen in minor ways with the Super Bowl, Coachella, and Flyfish Club.</li></ul>

NFTs create decentralized economies

NFTs are already changing the gaming paradigm by seizing power from the big companies and handing it to the players.Decentralized gaming works by developing games built on decentralized technology.The play-to-earn model helps games make in-game rewards by playing the game and completing tasks. These rewards can be cryptocurrency, resources, and digital assets stored in the blockchain.Thanks to blockchain’s tamper-free technology, your actions in-game are forever stored in the blockchain, so the NFT you obtained is also permanently there unless you decide to trade it or keep it somewhere else.

NFTs decentralize gaming

NFTs make ownership easier to manage, thanks to the blockchain. Since minted NFTs are part of the blockchain, they cut off intermediaries and empower content creators.Now, you’re able to create your stuff and sell it to those interested in them directly. A musician can sell proof of ownership of their song; a writer can sell their NFT books; a digital artist can sell their NFT art.NFTs represent a revolution of art ownership, making it desirable to get into it if you’re a content creator. And it’s no secret that many NFT artists have made massive profits from selling their NFT art.

NFT art can make you rich

<ul><li>Not everybody knows how NFTs work, but you’d be hard-pressed to find someone in 2022 who hasn’t once heard about the term.</li><li>NFT was the most searched word on online browsers in 2021.</li><li>Today, many big companies, brands, and business conglomerates are investing in NFTs.</li><li>The more mainstream they become, the more people will invest in them.</li></ul>

NFTs are becoming mainstream

People enjoy collecting NFTs because they enjoy purchasing art. Numbers, charts, and stock graphs hardly compare to mystifying digital illustrations, awe-inspiring videos, and gaming rewards.NFT art collection is similar to a real-life art collection at an auction house.All in all, an NFT is more than just a financial instrument. It’s a digital asset you can keep for personal use instead of something you want to sell later for a profit.Of course, an intelligent investor can collect NFTs and also invest in stocks to diversify

NFTs are more appealing than stocks

NFTs are being used as access keys to many events, such as Coachella’s lifetime passes. Soon, NFTs will be understood as more than pixelated illustrations or GIFs: they’ll become entry passes for events, clubs, and memberships.This hints at the diverse ways NFTs can be used for marketing and promotion, making them viable assets for investments and tools to promote other services for companies and individuals.

NFTs can be access keys

They are viable as long-term assets because they can be easily traded without restriction.Their record of authenticity and proof of ownership provides owners with a sense of security around their assets.

NFTs are excellent goods for trading

Find out if Non-Fungible Tokens (NFTs are viable) can be viable long-term assets. Learn about the top benefits and risks.

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Cryptocurrency

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Technology & The Future

Top Reasons Why NFTs Are Viable Long Term Assets

Everybody gets stuck in negative thinking from time to time:<ul><li>Anxious bouts of worry and catastrophizing</li><li>Depressing spirals of self-criticism and judgment</li><li>Angry cycles of rumination and resentment</li></ul>Unfortunately, the way most people try to deal with their negative thinking is completely unhealthy and only makes the problem worse in the long term.

The Downward Spiral

Just because you’re having negative thoughts doesn’t mean something’s wrong. In fact, negative thinking can be a very good thing!What you want to watch out for is a specific type of negative thinking that is unhelpful.Your brain’s primary job is to keep you safe and that requires some negative thinking.Instead, save your energy for identifying and managing unhelpful or unrealistic negative thinking, which from here on out is what I’m referring to by negative thinking.

Distinguish Helpful vs Unhelpful Negative Thinking

If you understand what types of situations or events are most likely to trigger negative thinking, you can avoid a lot of negative thinking before it even happens.Identify the triggers for negative thinking, deal with those triggers more directly, and you won’t experience nearly as much negative thinking in the first place.

Identify Your Negative Thinking Triggers

Most people are in the habit of only thinking about their negative thinking when it shows up.The best time to do hard, important work is when you’re feeling good, not when your life is falling apart!And this principle applies to negative thinking as well.Instead, you need to practice and prepare for it. And that means taking some time to intentionally confront your negative thinking head-on so that you can get to know it and make a real plan for navigating it at the moment.

Do your negative thinking intentionally, not reactively

Cognitive distortions are errors in thinking that lead to unnecessarily painful and prolonged emotions.We all fall into cognitive distortions from time to time. And while you probably can’t avoid them altogether, you can get much better at noticing them. Anytime you feel your mood dropping or some difficult emotion intensifying, ask yourself:What was I thinking just now? What thoughts led to this shift in emotion or mood?Write down that self-talk on paper and look for any cognitive distortions. Once you find some, calmly and nonjudgmentally identify which they are

Call out Your Cognitive Distortions

The content of your thoughts determines the content of your moods:<ul><li>If you’re constantly worrying, you’re going to feel pretty anxious.</li><li>If you’re chronically ruminating on how someone hurt you, you’re going to feel pretty angry.</li></ul>Negative thinking can lead to painful emotions, but painful emotions can also be a trigger for negative thinking (and more painful emotion!)So it’s worth identifying which emotions or moods tend to make you more susceptible to unhelpful negative thinking patterns.

Identify the Emotions Behind Your Negative Thinking

Negative thinking habits lead to all kinds of emotional struggles from anxiety and depression to relationship conflict and procrastination...

Understand yourself and those around you.

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Psychology

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Personal Development

5 Healthy Ways to Deal with Negative Thinking - Nick Wignall

We as humans might be built for negativity, making us our own worst enemy. This, as other <a href="https://www.bath.ac.uk/announcements/new-research-casts-doubt-on-claims-that-people-have-rose-tinted-glasses/">research</a> casts doubt on so-called optimism bias, debunking the notion that some people inherently “see” life “through rose-tinted glasses.” It’s an unfortunate opportunity loss, as another <a href="https://www.pnas.org/doi/10.1073/pnas.1900712116">study</a> found optimism to be associated with “exceptional longevity.”Even though, at times, we may feel as though we are not, we are the ones in control of our thoughts. We can choose not only what we think about but how we think about it.

Why Are Thoughts Are Negative

We need to learn to actually challenge our cognitive distortions and negative thoughts, and question how real or accurate they are.  We need to question and examine the veracity of our distorted ways of seeing reality and replace them with more accurate, adaptive, realistic, and uplifting thoughts that motivate us to strive to act and be the highest and best versions of ourselves.We can choose to reinforce healthy, rather than harmful, choices, habits, and behaviors. Reframing our assumptions is the first step.

Questioning Our Thoughts

Negative manifestations act as a warning for the larger ones to come unless you take positive action to stop the process, rather than reverting to past patterns that undermine optimism. You have the ability to observe a negative thought objectively, without judgment, and then choose to release and strategically replace it—with thoughts of gratitude, visualizations of prior success or joyful moments, reciting affirmations that resonate, and other such mindfulness activities that can stop a negative-manifestation episode in its tracks.

A Warning Sign

Negative thoughts and chronic pessimism can stem from many triggers far beyond stressors we’re living in the moment, including self-destructive patterns and even unresolved childhood experiences and traumas that evolve to inform perceptions and impede personal growth.

The Main Cause Of Pessimism

<ul><li>Surround yourself with people who enhance, support, and inspire you, lifting you up and helping you see the good among the challenges in life. </li><li>This includes minimizing sources of stress by setting healthy boundaries around exposure to critical, combative, and negative people—as well as the endless news cycles.</li><li>Other ways to get out of the negative spiral: Actively and concertedly letting go of negative self-perceptions, limiting beliefs, thoughts of being not good enough, and conditions you place on yourself in order to be happy.</li></ul>

What To Do To End The Spiral Of Bad Thoughts

Brain science offers strategies that go beyond positive affirmations to create more lasting change.


A psychologist explains why negativity dominates your daily thoughts, and what to do about it

Resilience - the ability to withstand hardship and bounce back from difficult events - is helpful when it comes to work. However,  it is often presented in a way that overlooks issues while employees must bear whatever comes in the way. It is much easier to be resilient in an environment that makes it easy. It's easier to adjust and figure out a new path if you trust your manager or feel safe opening up to your team.

Resilience is not the answer to everything

Teams can put shared practices into place that make it easier for individuals to improve their well-being. Saying you want your people to have a healthy work-life balance is great, but if their calendars are filled with back-to-back meetings or they get pinged at all hours of the day, they won't feel safe taking needed breaks. Improve team well-being by creating shared rituals, such as starting weekly team meetings with a fun prompt, or putting a daily 15-minute team break on the calendar.

Make well-being a collective practice

A ritual around reflection and recognition can help your team members connect and build confidence. To take stock of all that your team has accomplished, set aside time at the end of each month or quarter to discuss the following:<ul><li>What have we learned over the past few weeks or months?</li><li>What was difficult? How would we approach it differently?</li><li>What important progress did we make?</li></ul>

Look back at how far you’ve come as a team

Leave one-on-ones for personal conversations, not for status updates. Ask:<ul><li>What one thing can I do to better support you this week?</li><li>What kind of flexibility do you need right now?</li><li>How does your workload feel right now?</li><li>What was a win for you over the past week? What was challenging?</li></ul> Ensure to communicate the action you will take. “You mentioned last week that you could use more heads-down time. Let’s work together to see if some meetings could be handled asynchronously or pushed to next week."

Use one-on-one meetings wisely

Don't push your employees to open up to you in detail. Instead, let your reports know that you’re there to support them. It’s useful to be aware of where on the emotional spectrum your reports are so you can adjust your behaviour.<ul><li>Over-emoters are people who are highly emotionally expressive and are always ready to share how they feel.</li><li>On the other end are under-emoters who are less emotionally expressive. Under-emoters can calmly figure out a way forward when they have a problem.</li><li>Even-emoters sit in the middle and can swing either way.</li></ul>

Understand and adjust for different emotional expression tendencies

Establishing a shared language can make it easier for employees to feel safe opening up and trusting one another. For example:<ul><li>Teams use a red, yellow, and green system to check in at the beginning of meetings. Red means someone is struggling, yellow means feeling stressed but manageable, and green means feeling good.</li><li>Create an OK list. For example, "It's OK to say you don't understand", "have quiet days", "ask why and why not."</li></ul>

Create shared language

Teams can be resilient when they have systems for support and dialogue.

The authors suggest five actions leaders can take to create a workplace that supports employees and fosters resilience.

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Career

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Corporate Culture

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Leadership & Management

Stop Telling Employees to Be Resilient

Price: Asking customers to pay top dollar for a product, especially if they aren’t experiencing the value to make it worth it can quickly wear thin with decision-makers. Product: many times, customers purchase a product based on what it can do to make their lives easier. If this product isn’t living up to expectations, or if promised features aren’t being delivered, the customer will churn. Competition: if you’re a SaaS firm, there will always be someone out there delivering the same thing and if their product becomes too appealing, there is often little you can do to pull them back.

Why do customers churn?

State of business: sometimes, factors at play internally make it impossible for a customer to continue their vendor relationships. However, this reason cuts just as deep as some of the others. Lack of value: a wide swath of reasons for customer churn falls under ‘lack of value,’ which, at its core, means that a customer isn’t seeing the promised outcomes from your solution. Access to leadership: If a customer does not feel like they are the most valued customer at your organization, they will often find a vendor who can provide this access.

Poor experience: Customer churn also relates to their onboarding and implementation experiences. If a customer cites a poor experience, it may be time to re-think your internal customer success strategies. Need: A customer may find they don’t require your product or services any longer. In this case, it’s helpful to pivot your solution to meet their needs for long-term partnerships better. No ownership: If a vendor partnership doesn’t have an internal owner at a customer organization, no one can push for a renewal or extension in a contract. In this scenario, the contact will often go dark

CSMs can prevent customer churn by constantly being on the lookout for warning signals and being diligent about proactive engagement. When customers do churn, do diligent follow-up and ask questions to understand better why this termination is occurring. By tracking why customers churn over time, your team can identify themes and repeating issues that may be contributing to customers leaving and then be proactive in solving them.

What can you do about it? 

While the best parts of working with customers involve forging strong relationships and engagement strategies, there is one downside to the role: customer churn

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Marketing & Sales

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Business

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Product & Design

10 Common Reasons Customers Churn – and What to Do About It  | ClientSuccess

Like the early stages of a burgeoning relationship, multiple steps shape the outcome and determine whether the relationship between you and the user will be a wild success, an unremarkable encounter or a dismal failure.
The goal of onboarding isn’t to show new users where features are. Instead, it’s to guide users towards their “aha” moment, the moment of delight where the value of your product becomes immediately clear.

User Onboarding: The Great First Impression

Three core components make up successful onboarding:
<ul>
<li>UI design patterns</li>
<li>Contextual educational content</li>
<li>Contextual communication</li>
</ul>
It is vital to consider how these components interact throughout the customer lifecycle and in different channels, but they should also come together in that very first impression, the moment of first use. A positive first impression that shows the true value of your product sets the tone for a fruitful, long-lasting relationship with your user.

Three Components Of Successful Onboarding

To build that lasting first impression, first understand the actions your users should take and how to motivate them. <ul><li>What do you need to know about your users to provide them with a great experience?</li><li>What do users need to do to get value from your app?</li><li>What are the costs and benefits of adding friction to your onboarding?</li><li>How will you motivate users to complete onboarding?</li><li>At what point in your users’ lifecycle does onboarding need to be completed?</li><li>What actions must your users take regularly to drive growth and revenue?</li></ul>

Getting To Know Your Customer

Put yourself in the shoes of a potential customer. The first time someone uses your product, they’re likely a little disoriented as they attempt to familiarize themselves with the new environment – your app’s UI. They’ll be searching for cues to find their way. UI design patterns like empty states and inline hints and tips can help make the unfamiliar feel familiar and get the user to see value, fast. Let’s run through the most useful patterns.

Useful UI design patterns

They might seem incredibly simple but a considered welcome message can make or break your tour. 
This is your first opportunity to greet your new user, so it’s important to be warm and approachable and give them a reason to engage.

A Welcome Message

A large window that takes priority on your screen, most often dimming the background, the modal is an effective design pattern for focusing the user’s attention. 
But it may come across as noisy if not used well. You’ll often see a modal when you sign up for a product and are asked for your email address.

The Large Modal Window

Empty states are how your app or product looks on first use before it’s filled with user content. An empty product or app can appear like a blank page to a novice writer – it can feel overwhelming.
Not only are users trying to get oriented with this new space, they’re excited to jump in and get started, but they need guidance and reassurance on how to proceed.

The Initial Empty State

Inline hints and tips are subtle and look as though they fit in with the rest of the content on the page. Their subtlety is what sets them apart from the other UI design pattern. As a result, they should be used to enhance a user’s success in your product, for instance by providing additional information about a complex feature or best practice tip. However, one has to avoid the temptation of relying on tooltips as a substitute for well-designed interface elements.

Inline Tips And Popup Hints

Interactive product tours excel at helping users overcome those early moments of disorientation in a new app. Product tours are usually action-driven pointer messages that look similar to tooltips, but rather than being available as a consistent part of the UI, they appear only during an onboarding experience. They point out critical UI areas that the user needs to interact with to achieve their goal.

Interactive Tours

The design patterns discussed above are by no means a definitive or ranked list, but they’re the most common patterns used for onboarding. However, too often they’re implemented without any user context, a core aspect of effective onboarding. Without user context, these patterns become a one-size-fits-all tactic that relies on assumptions about the “average user,” rather than the individual you’re engaging with.

Leveraging User Context

Build the foundational skill-set that will gear you towards a career in product management

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Books

Product Management Essentials

User Onboarding: A crucial step for users

Great onboarding doesn’t just show users where features are, it creates a positive first impression that sets the tone for a long-lasting relationship with your users.

Discover the world of business and economics.

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Economics

How your user onboarding can make a great first impression

The Bull's-Eye exercise allows us to examine how closely our actions align with our values.  With this exercise, we consider the four important domains of our lives: work and career, relationships, personal growth and health, and leisure. We then take the time to review our actions so far and gain back the balance from the neglected areas of our lives. Afterwards, we start setting achievable goals. It's an exercise cycle of pausing, reassessing, and making adjustments as we go.

The Bull's-Eye Exercise

The ABA Journal is read by half of the nation's 1 million lawyers every month. It covers the trends, people and finances of the legal profession from Wall Street to Main Street to Pennsylvania Avenue.

Are you living your values? Use the 'Bull's-Eye' exercise to check these 4 areas of your life

If you're currently taking a rest day from working out don't be hard on yourself because it only means that there are some things that you have to reevaluate -- maybe you have to find a more balanced workout plan or maybe you need to take care of things in your personal life.&nbsp;Regardless of the reason for your rest day, missing one day of a workout is a trivial problem!

Free Yourself From Guilt

Well balanced workouts usually give at least one rest day each week and there are others that actually have three to four days of rest.&nbsp;Regardless of how many rest days are actually in your program, your body will make good use of the rest dat and as long as your faigue is managed well then you'll feel fresher and more relaxed going back to your workout.What matters most is that you're the one who gets to decide when you'll get back on the horse.

Rest and Consistency

Consistency is important, but beating yourself up over an unplanned rest day doesn't make you any fitter.

Why You Shouldn't Feel Guilty About Skipping a Day of Exercise

The Zeigarnik effect is our tendency to remember incomplete or interrupted tasks easier than completed tasks.
At first, the Zeigarnik Effect seems handy: We remember the things we still need to do.
<ul>
<li>But each incomplete task divides your focus, making it harder to concentrate on what is in front of you.</li>
<li>Another problem is that even if we can physically disconnect from work, our unfinished tasks will filter through to our family dinners, vacations, weekends and sleep.</li>
</ul>

The Zeigarnik Effect

Research shows that you can find relief from the Zeigarnik effect by simply planning to finish your tasks.
What you can do:
<ul>
<li>Make a habit of writing your tasks down.</li>
<li>Have a system for organizing and regularly reviewing your tasks.</li>
<li>Have an end of work shutdown ritual, so your mind knows it's time to switch off.</li>
<li>Identify a small step you can take to get started. Then your brain is more eager to keep going.</li>
<li>Don't forget to review what you've already accomplished.</li>
</ul>

How to snooze mental reminders

Why it's so hard to stop thinking about everything we have left to do (and so easy to forget what we've already accomplished)...

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Productivity

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Time Management

The Zeigarnik Effect: Why Unfinished Work Follows Us Home

... is that they can be intimidating. They can paralyze you into inaction.The big picture can be overwhelming, but in little parts, it seems achievable. Every step forward brings you closer to a goal. Consistent action coupled with time guarantees lasting progress.

The problem with big goals

“An overnight success is ten years in the making.”

There are no quick hacks that bring faster results.Every incredibly successful person you know today has been through the boring, mundane, time-tested process that eventually brings success.

There are no “overnight successes”

“The thing is, incremental daily progress (negative or positive) is what actually causes transformation. A figurative drip, drip, drip. Showing up, every single day, gaining in strength, organizing for the long haul, building connection, laying track — this subtle but difficult work is how culture changes.”

Many people underestimate the power of incremental progress. They think they have to take massive action to achieve anything significant.Radical change doesn’t stick. Lasting progress is incremental.

Lasting progress

Small, Smart Choices + Consistency + Time = RADICAL DIFFERENCE

Small things add up

“Success is neither magical nor mysterious. Success is the natural consequence of consistently applying basic fundamentals.”

Consistency and a series of purposeful actions will transform the way you work and hone in your chosen craft.
Instead of focusing on the outcome, concentrate on your small actions. Narrow your focus to a few minutes or hours of work on your goal, rather than looking at the goal as one big step or achievement.

Be consistent

Check Out the Power of Incremental Progress:

Peter Drucker once said "People often overestimate what they can accomplish in one year. But they greatly underestimate what they could accomplish in five years." Many people can't follow through on the things they really want to achieve in life because they are obsessed with the big picture, instead of keeping an eye on the crucial, tiny daily actions.