Recently, people have been increasingly talking about digital art, cryptocurrency, digital assets, NFT, and the creation of NFT marketplaces. The world is developing rapidly, and what once seemed incomprehensible is becoming our reality.
Once upon a time, people did not see the future in cryptocurrencies (Bitcoin, Ethereum, Litecoin, Binance Coin), rejecting everything related to the digital world. However, today Bitcoin is breaking all records in value because people buy and sell it everywhere. The same applies to NFT art, which appeared back in 2014. At that time, few people were interested in the digital direction and even more so in creating marketplaces for selling NFTs.
Today, the digital world is a new opportunity for creative individuals to express themselves, their vision of the world, and their imagination. Moreover, digital art is an opportunity to gain universal popularity and earn more money. So, digital artists are becoming more and more involved in the NFTs, creating unique projects of their kind.
If you have not yet heard what NFTs are, how to create digital works, and how NFTs work, this article is for you! Join the NFTs to keep up with the times.
As digital art continues to develop at breakneck speed, now is the time to become an inseparable part of the NFT world.
Primarily, let's figure out what NFTs are in the digital space and why people buy and sell NFTs for colossal money.
NFTs mean non-fungible tokens that a person uses to confirm ownership of inimitable objects (paintings, animations, songs). NFTs are unique codes that attest that a person owns the original of a particular art. All people know the original image named "Mona Lisa" and copies of this image. So, the NFTs are a universal way to prove that you own not a copy but the original version.
In 2020, due to the spread of coronavirus infection and a large-scale pandemic, people were forced to switch to the online sphere and immerse themselves in the digital world. So, a stunning NFT craze occurred. NFT creators began to adapt their creativity to the digital world, gradually creating digital works.
A completely unique token (or a non-fungible token) means that an NFT artwork cannot be changed by another. Any NFT artwork has unique properties, and therefore there is no interchangeability of objects.
We all use interchangeable items every day: it is fiat money. For instance, one euro is always equal to one euro. It is the primary property of fiat funds (dollars, euros, or francs). However, the digital world operates in a different scenario. You may buy NFTs on any NFT market, sell them or own NFTs. But, as a rule, no one may change or steal NFTs.
Since NFTs belong to the digital art world, they operate on the Ethereum blockchain. Ethereum blockchain allows NFTs to work for several reasons:
- Public verification of transaction history and token metadata
- It is impossible to steal the NFTs, as there are confirmations of ownership
- NFT trading may be peer-to-peer
- All Ethereum products share the same backend
- The Ethereum cryptocurrency is growing
This Ethereum blockchain technology allows NFTs to work stably and expands the possibilities of creating, buying, or owning NFTs for artists. People selling NFTs use cryptocurrency. So, multiple NFTs have their set price. Usually, people sell and buy NFTs for Ethereum cryptocurrency, starting from 0.1 Ether and above. In general, each NFT owner may independently determine the cost of digital works.
Like any art direction, NFT art has its characteristics, and Nsf has unique properties. Although NFTs are digital, there is a need to reproduce the properties of physical elements for NFTs. Primarily, it is scarcity, uniqueness, and proof of ownership.
You may create NFTs, sell your works, own NFT, and even invent an NFT collection, gaining worldwide popularity. However, before you learn how to create NFTs, review their properties.
Here are the main features of NFT:
- NFTs are unique
- You will not find two NFTs in the same form
- Only one person may own an NFT
- Ethereum cryptocurrency is a base for NFTs
- NFT is compatible with anything using Ethereum blockchain
- Artists of NFTs have access to the global NFT marketplace
- NFT creators may buy and sell digital art on any NFT market and at any time
- If a person makes NFTs and sells them, this creator may claim royalties
It's no secret that the NFT world is an absolutely new phenomenon, and that's why most NFTs are sold for a lot of money! There are many such examples on the Internet. Even celebrities produce and sell NFTs. It follows that while NFT marketplaces are breaking records for the number of digital works sold, NFT art will develop. It is just the beginning!
For more information about digital assets, cryptocurrency, NFT, and crypto tokens, watch this video.
The digital space is colossal because most people around the world use the Internet. Just imagine how many talented artists are now involved in the digital world. In general, this is almost every corner of the planet.
People use NFTs for various reasons: to create a unique NFT collection or get money. What to use NFT for is the choice of each person. You may own NFTs, create new NFTs and use the money to help people in need. For instance, founder of the social network Twitter Jack Dorsey sold his first NFT tweet for almost three million dollars. There are many such examples! The creator does not need to visit an auction house, spend time on meetings, as the whole process of trading of NFT takes place online.
Here is a list of various NFT areas where everyone can develop and achieve success. Check out each idea!
- Unique digital file and NFT artwork
- Creating designer digital sneakers
- Game items for characters
- Text works
- Digital collectible (trading cards)
- Exchange of NFT for some tickets to the event
It is not the whole list! That only people do not sell and do not buy as non-fungible tokens. These are images, various pieces of music, digital trading cards, tokenized real-world assets, and videos of iconic sports moments. You may buy and sell everything related to digitalization.
You have just read the informative content on the NFT. So, let's look at the popular platforms for selling NFTs.
To sell NFTs at the maximum price and at the same time receive royalties from resales, you need to choose the best NFT marketplace. Today many NFT marketplaces differ in the rules of use, sale, and purchase of NFTs.
Let's look at the most popular and reliable NFT marketplaces, as well as their main features.
1) Binance NFT platform
The Binance NFT online platform is an excellent site for the sale and purchase of NFTs. This platform was created within the framework of the Binance cryptocurrency exchange, which is one of the top ones. In general, this NFT marketplace is based on the Binance Smart Chaine blockchain infrastructure and offers high liquidity.
This platform aims to become the most popular in the NFT metaverse. Moreover, the authors of digital content may find unique profitable offers here, create NFTs, and get acquainted with other talented artists.
The Binance NFT marketplace brings together many creators and crypto enthusiasts to create and trade the best NFTs. You may buy digital works with crypto tokens (Ethereum and Binance Coin). To access all the features of this NFT platform, you need to create an account.
Here are three product lines that Binance NFT offers for creators:
- Create new NFT
- Sell or buy NFTs at a fixed price
- Incredible events with exclusive and premium NFT offers
- The opportunity to buy a sealed box with an NFT token
As for the main advantages of this site, they include high reliability and popularity. The Binance Smart Chaine blockchain is faster and cheaper than the Ethereum network, and the Binance company is responsible for the security of accounts and transactions.
Among the well-known NFT marketplaces, the TreasureLand platform occupies one of the first places. It is a multi-chain NFT market that allows users to create NFTs and sell them.
In general, this platform allows a person to connect a digital wallet to the TreasureLand trading platform. Here is a list of digital wallets that the platform supports:
- MetaMask account
- Math Wallet
- Trust Digital Wallet
- Wallet Connect
- Token Pocket
- ONTO Wallet
Creators may sell any digital works on this NFT platform or own NFTs. Finally, the platform provides the widest selection of digital works for collecting. Which one to choose is up to you.
Among many NFT marketplaces, the Bakery Swap platform occupies a central place. The specialization of this platform is decentralized finance and trading of a non-fungible token. It is worth noting that this platform also operates based on the Binance blockchain. For advanced users and especially beginners, this platform is an excellent tool for the simple process of creating and trading digital works.
This exchange charges about 0.3 percent of each transaction, and that's why you need to have more money on the account. This online service supports the following wallets: MetaMask, Trust Digital Wallet, Wallet Connect, Rainbow, and Binance Chain Wallet. Various contests, digital exhibitions, and online games are often held on the online platform.
This platform has a transparent system of fees and rewards. Since the Bakery Swap exchange is decentralized, all money is stored on a digital wallet and not on the platform's accounts. Thanks to this approach, no hacker attack will occur, and no one will steal another person's data and money.
Most NFT creators distinguish the OpenSea platform among NFT marketplaces, where there are thousands of digital works. Here is a small list of what you may find on the site:
- Trading Cards
- Game items
- 3D animated objects
- Digital images and videos
The year of the foundation of this platform is 2017, and today it is the largest NFT marketplace. The platform offers more than 300 digital assets and about 10000 titles. It is worth noting that this service is decentralized, and therefore users store all their money in a digital wallet. Smart contracts guarantee transactions. After creating such a smart contract, you will be able to use the services.
The main advantage of OpenSea is its wide selection of categories for trading. By the way, the platform offers gas fees (approximately 2.5 percent of the cost of the NFT).
The NFT marketplace SuperRare is also an excellent tool for selling or buying digital art. Digital works act as NFTs, which you may resell but not exchange for each other.
According to the platform's policy, NFT creators may charge royalties for the resale of their works. The process of trading and creating your own NFTs is not so complicated: the main thing is to follow the rules of the service. Artists certify their works by creating a so-called tokenized certificate. A distinctive feature of this site is its secondary market. Anyone may resell the purchased work of art as if it were in an auction house.
You may track the entire history and origin of digital work through the Ethereum blockchain. To trade on the platform, you must buy Ether since all transactions are made through it.
Mintable online service is a decentralized NFT marketplace founded by Zach Burks in 2018. The goal of this project is to increase the availability of NFT in the world.
Mintable is one of the first platforms that allows you to mint NFTs without gas fees. The service is built on the Ethereum blockchain and also supports the Zilliqa blockchain.
As a rule, users highlight the following advantages of Mintable:
- Intuitive and simple interface
- The fast process of creating NFTs
- A quick search for the tokens
- Lucrative offers and contracts
- An easy way to manage NFTs and digital wallet
Users save money on transaction fees because everyone may use Mintable for free and mint thousands of tokens in one transaction. Due to this property, this platform is more flexible in comparison with other NFT marketplaces.
NFT platform Nifty Gateway was founded in 2018, and it is one of the most reliable services. You may buy NFTs instantly without putting in a lot of effort. The platform facilitates profitable purchases for some popular crypto games and apps.
Nifty Gateway unites talented artists and brands to create extraordinary NFT works in a limited edition. Unlike the above marketplaces, this platform is centralized. The platform allows you to withdraw gifts to your wallet and add them from an external wallet to your collection.
A feature of the platform is the ability to buy NFTs for fiat money. In turn, sellers may withdraw their earnings to their credit or debit cards. The Nifty Gateway commission is 5 percent and 30 cents in addition to the gas fees. Keep in mind that when reselling creations, an additional fee of 10 percent is charged.
Thus, the NFT market is developing rapidly, as evidenced by the growth of the appearance of online marketplaces. All NFT marketplaces operate according to their own rules and have their characteristics. Therefore, when choosing a reliable and time-tested service, read user reviews and study user agreements. In any case, every creator will find a suitable service for selling or owning digital works.
Now that you have viewed the largest NFT platforms, the next step is to create a digital wallet!
Regardless of the platform for buying and selling digital artwork, you first need to create an online wallet!
A digital wallet is a convenient tool for storing funds and conducting transactions. NFT platforms work on the blockchain of different cryptocurrencies. One of the most popular cryptocurrencies in the NFT world is Ethereum. For instance, OpenSea, Mintable, Super Rare, and other platforms use Ether to conduct transactions.
In general, you need to start small: buy shares of Ether. At the moment, the cost of 1 Ether is $3862. Undoubtedly, cryptocurrencies (Bitcoin and Ethereum) are the most expensive, and their value is constantly growing. Therefore, it is best to buy a small share of Ether.
If you use the OpenSea online service for trading NFTs, you need to install a plug-in called MetaMask and a password through the Google browser.
This platform also supports other digital wallets:
- Coinbase Wallet
- Wallet Connect
The process of installing the plug-in and password is fast and takes about one minute. Therefore, you may perform this action with one click.
Here is a step-by-step instruction on how to create a wallet:
- In the upper right corner of the OpenSea website, click on the "Create" button
- Choose a suitable wallet
- Install a wallet or scan a QR-code
- Create a wallet
- Skip the reviews section
- Come up with a password
- Come up with a secret phrase and enter it
- Click "Next" and confirm the secret phrase
- Connect your OpenSea account to your wallet
- Click "Connect"
It is a step-by-step instruction for creating a wallet for the OpenSea NFT platform. In principle, the process of creating a wallet on other sites is similar. Remember that you must remember the secret phrase and not lose it since it is the private key to your account and wallet. If you lose the secret word, you will not be able to log in to your account. Besides, if your browser does not support the desired wallet, you need to expand its functionality. To do this, install the browser extension software.
You may use any crypto apps to buy cryptocurrencies. One of the most reliable and proven exchanges is the Coinbase platform, where there are many cryptocurrencies for purchase. This crypto exchange has a Coinbase wallet that is a perfect tool for money storage. You may also use MetaMask by connecting to the OpenSea platform.
Firstly, click on the puzzle icon in the upper-right corner of Chrome at the end of the URL address. You will see the "MetaMask Fox" icon. Click on it. Next, buy the amount of Ether you need or transfer a direct deposit from another account if you already have a cryptocurrency.
As a rule, the platform charges a commission of $ 5 for transactions and a network fee of $4.9. Unfortunately, charging is a common practice on any exchanges, so get used to it. After the above steps, enter the payment information and your phone number and click on the "Send" button. Finally, enter the payment authentication code and authorize the purchase. Also, you need to specify a six-digit code for the pending Wyre transaction in your bank account.
To buy digital works through the most famous marketplaces, you need to complete all of the above steps! Without a wallet, cryptocurrency, and a created account on any NFT platform, you will not buy the trading cards, artworks, and other NFTs.
In general, to create NFTs, you do not need deep knowledge of the crypto industry and digital art. So, decide which blockchain you will use to issue your own NFT. As already noted, the most popular and proven is the Ethereum blockchain. This blockchain service has gained such a high reputation due to its high level of security and transparent policy of interaction with users.
However, you may also use the following blockchain systems:
- Binance Smart Chain
- Flow by Dapper Labs
It is worth noting that each blockchain has its own set of tokens, compatible wallet services, and marketplaces. For this reason, if you use Binance Smart Chain, you will be able to sell and buy NFTs only on platforms that support the Binance system. Since Ethereum is the largest NFT ecosystem, use the Ethereum system! You will need an Ethereum wallet that supports ERC-721 to create your unique creations.
Now you need to go to the site of the NFT service you have chosen (in this example, it is the OpenSea platform). Here are the main steps:
- Connect the wallet address to the trading platform and add money
- Select the "My Collections" button in the "Create" section
- Click on the "Create" button again
- In the window that appears, add your digital creation
- Add a name and description
- Add a banner to your page
Thanks to the above steps, you will be able to register your account. Now, let's look at the basic steps of how to make an NFT. There is a "Add product" button on the main page, and you have to click on it. Now you may upload any digital works to the platform, including 3D models and songs.
By the way, the OpenSea service allows any user to connect characteristics to increase the scarcity and uniqueness of your NFT. Another great find is the ability to include unlockable content. This setting allows only the buyer to view digital works. Finally, you need to complete your creation with a description.
These are the basic steps for creating NFTs. Your offers for the sale of NFT will appear on the platform, and every user of the service will see them. To buy NFTs, you also need to use online services. You may purchase any works you like by creating your collections or reselling NFT!
What else is vital to say is about the relationship between the environment and non-fungible tokens. Although NFT refers to the digital environment, the minting NFTs leaves a carbon footprint! Due to the growing popularity of the NFT, some communities (for instance, Ethereum Foundation) control the NFT and protect the Ethereum ecosystem in the outside world.
For a better understanding of this aspect, read the following theses:
- NFTs do not directly increase the carbon footprint of Ethereum
- The way to secure your assets through Ethereum is energy-intensive
- After the improvement, the carbon footprint will be 99 percent better
People who own NFT in the Ethereum ecosystem know that this blockchain is safe. Indeed, Ethereum is decentralized, which means the following: all your funds and assets are protected. The second point is the inability to copy someone else's NFT or steal it.
Thanks to such a highly secure system, your digital objects will always be unique. Blockchain such as Bitcoin or Ethereum is energy-intensive, as a lot of energy is required. However, as noted above, technologies will gradually improve, making any blockchain less harmful to the environment.
As for minting an NFT, there are a few basic things that need to happen. Firstly, your NFT must be a verified blockchain asset. Secondly, you must update your balance sheet to include this asset and trade freely on the platforms.
It is also necessary to implement transactions in the block. Finally, this block should get the correct status, and the network must confirm it. This scheme allows you to simplify the interaction with the NFT platform, as the network confirms the existence of your NFT and your ownership of it.
As a rule, miners perform all of the above tasks. Since all these steps require a lot of time, miners need equipment with high computing power for the minting. Otherwise, anyone may steal your tokens and take ownership of them.
It's no secret that cryptocurrency mining is a common phenomenon in the crypto world. Today, in almost all countries, people mine cryptocurrency using powerful equipment.
The situation in the NFT world is similar. Many people start mining NFTs using advanced technologies. The difficulty of mining lies in the use of computing power. Since miners create blocks at an incredible speed (1 block = 12 seconds), a lot of energy is consumed.
In general, the mining process is a vital element in ensuring the protection of cryptocurrencies from hacker attacks. It follows that the more blocks, the better! Everyone who uses Ethereum software may prevent an unauthorized attack.
However, the constant use of such equipment causes an increase in the carbon footprint. Even if the block contains zero transactions, energy will continue to be released. For this reason, many people blame NFT for its detrimental impact on the world around them.
To sum up, today the NFT sphere is developing at breakneck speed, as evidenced by the emergence of NFT platforms for the sale and purchase of digital objects. While the NFT direction is breaking all records in popularity, there is every chance to take its place in this art form.
In addition to selling and buying various digital works, each user may create their own NFT. This process does not require any special knowledge of the crypto world. It is enough to create an online wallet, buy cryptocurrency, and register on any NFT platform.
In any case, creating your NFT work will allow you to gain popularity, earn a lot of money or become a famous collector. Therefore, try yourself in this business to keep up with the times!
To create an NFT, use the following instructions:
- Register on a reliable service
- Create an online wallet and link it to the selected platform
- Add funds
- Add your unique work to the platform
- Specify the name, price, and description
These elementary steps will allow you to create digital work and sell them on exchanges!
As already noted, there cannot be two NFTs that are similar in all respects. These tokens are unique, and no one can copy or steal them. It is the first reason why it is worth creating an NFTs. The second point is the popularity of this direction and the possibility of getting a lot of money. Today, most digital works sell for thousands of dollars or even more. Creating an NFTs is something that will benefit you.