NFTs for Designers and Creators
All the info you need to develop your first NFT, from the in-depth introduction to the process itself.
What are NFTs?
NFT stands for “non-fungible tokens,” which are usually made with the same kind of code that is used to make cryptocurrencies. In simple terms, these digital assets are based on a technology called “blockchain.” They can’t be traded or exchanged the same way other cryptographic assets can.
The same as Bitcoin or Ethereum. Because it has unique properties, the term NFT makes it clear that it can’t be replaced or switched with anything else. Real money and cryptocurrencies are fungible, meaning they can be traded.
Just like owning an asset like a car, with certification of ownership that can be traced to the original creator or owner. Except that an NFT is a piece of digital data that proves ownership.
How do NFT’s Work?
The majority of NFTs are kept on the Ethereum blockchain, which is a public ledger that keeps track of transactions. NFTs are small tokens that have important information on them.
NFTs can be traded on open markets like Binance NFT Marketplace, OpenSea, and Treasureland. The value of each NFT is different, and buyers and sellers can meet up through these markets. NFT prices can also change based on how much demand and supply there is in the market. An NFT is minted from digital objects as a representation of digital or non-digital assets. For example, an NFT could represent:
○Digital Art. ○ GIFs. ○ Collectibles. ○ Music. ○ Videos
What does it mean to Artist/Designers/Creators?
We the creator have been creating and contributing to the industry with our creative arts, though it is Artwork, Music, Video, or any other creative stuff we didn’t have the chance to take full, concrete ownership of a digital file This has changed with the rise of NFTs, which give creators the freedom to rent out digital artworks, sell them, or show them off in any way they want.
Now we are able to sell their works, they need to have some kind of “legal” claim to them. So, after NFT art is made, it is “minted,” or turned into a token, on Blockchain, a service for cryptocurrencies.
Epic Games Store accepts games that support NFTs. The publisher handles their own NFT transactions with clients for these titles. Epic does not operate as a middleman in the transaction and does not charge shop fees. Whether it’s a nice Skin, Outfit, or Avatar…These guys are setting an example how designers/creator can benefit from this.
NFT art is new to making money for us. It’s designed to be a faster, more accessible way for designers to work and get paid. There are no pursuing clients for payment, no preparing files for print, and no waiting for feedback or revising and editing work.
What is the Procedure to sell you your first NFT?
Step 1: Create your Artwork, it can be a single one or a collection of multiple as well.
Step 2: Go to rarity. Tools to get inspiration and check what the newest and best coming up in NFT Market, here they are ranked based on their Rarity Score
Step 3: You Need to create the Crypto wallet first. For Instance, I am suggesting Metamask, it’s a crypto wallet, just go to the google store and add the extension of Metamask. Follow the below step to step the wallet.
Step 4: Find a Market Place to post your artwork for sale and link your wallet with it. There are multiple marketplaces, but just for example, I am using opensea. Here is the step on how to enter the market and mint your NFT.
To add to your collection, choose the Create button from the top menu. Fill in all the fields and click “Save.” Now you are ready to start minting NFT. Tap “New Item” and fill out the required fields to upload your artwork. Tap Create at the bottom when you are ready.
Congratulations! You have made an NFT successfully, and you can now sell it on OpenSea.
These are the marketplace where you can sell you NFTs.
And here are various other wallets.
Though I gave the example of MetaMask and OpeSea, you can use any of these marketplaces and wallets to buy or sell the NFTs.Just a note that the gas price differs. Th
What is the Future of NFT?
You might have heard that the guy who bought Jack Dorsey’s first tweet for 2 million didn’t even get the highest bid above 10k, Does it mean it’s just a bad gamble and nothing more to survive for long…No, I don’t think so
The future seems bright for NFTs, with the whole market exceeding $100 million. Experts in the crypto sector predict that NFTs will be used as an entrance point for 40% of new crypto users.
Despite the recent market crash and NFT fall, it will rise again. Now that the decentralized industry is now worth more than $4 billion, it is clear that the NFT space will develop dramatically in the coming years… And these New realities world going to open new doors for NFT users.
Conclusion
NFT is an advanced tech with a lot of possibilities that can solve problems about who owns digital assets and who is allowed to use them. At the same time, the rapid growth of Metaverses and New Realities in the market will also increase the need for NFTs. Asa Designer or creator, we have to look into the pros and cons of these new technologies and make contributions accordingly.
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