Nowadays, NFT Or non-fungible tokens is an emerging technology by which anyone can earn money online, whether it be in the form of artwork, paintings or music. Nonfungible means non-replaceable Or non-exchangeable. Things which are unique cannot be replaced by other similar things. We can replace one note of 2000 Rs with similar notes of 500 but instead we can’t replace Monalisa’s painting because it is unique. NFTs are digital platforms in which people can buy or sell digital art for cryptocurrency Or money. It represents things like art, videos, virtual avatars or even memes.
How to create NFT
Lately NFTs have gotten a lot of attention. Artist can made millions of dollars by selling a single NFT, it can be change depending on tool u use.
1.Choosing NFT: There are lots of option for choosing which type of NFT you want to create. Which include artwork, painting, music, video, memes etc. You can even create NFT of valuable things like photo signed by a celebrity.
2.Choosing marketplace: There are tons of NFT marketplace where u can mint your art.Minting in NFT means publishing a unique digital asset on a blockchain for buying,selling Or trading. NFT market places has transparency because it based on the blockchain which maintain continuously growing list of records. Each marketplace has its own fees according to how would you mind Your NFT. Most NFTs actually have a low price. This transaction fee on the blockchain called as gas fees. If many user trying to carry out transaction at a same time gas fee will be high. Open sea, Axie, larva labs, Rarible, Super Rare, Nifty Gateway are some marketplace for NFT.
3.Set up a wallet: NFT wallet is used to store money in the form of cryptocurrency. It is like our traditional traditional wallets which store our cash. Crypto wallets does not store money physically instead it store in blockchain networks which can we use to safely access, send and receive crypto funds. It holds unique digital password or keys. NFT wallet should support the currency you will buy or sold the NFT, such as Ether. Most wallets used are with Ethereum cryptocurrency. Some of the best wallets are metamask, math wallet, alpha wallet, trust wallet, coinbase wallet. Your NFT marketplace should compatible with the NFT marketplace you want to invest on with strong security and easy to understand.
4.Exchange the Cryptocurrency: First to purchase cryptocurrency of your choice you will have to deposit funds via your bank account, credit card or debit cards. Then you can exchange those funds with cryptocurrency of your choice. Cryptocurrencies can be transferred with the interference of third party. Bitcoin Ethereum are the most used cryptocurrencies. kraken, Gemini, Crypto.com, kucoin, coinbase are some of the cryptocurrency platform on which you can buy Or sell cryptocurrency.
5.Connect your wallet to NFT: lastly you have to connect your wallet to NFT. Choose digital wallet according to your choice. This require you to sign a verification on your wallet app. Then select the ‘create’ option, upload your media file, fill in the details, select your blockchain and create the NFT.Most popular NFT artist
Mike Winkelmann aka Beeple is the digital artist who broke all records in March 2021 for having sold the most expensive and famous art. The art was titles Everyday :The first 5000 days, collage of 5000 small NFTs. It took 13 years to be made. The art bought in 69.3 million dollars at the revered British auction by Vignesh Sundaresan, known as metakovan who is Indian crypto currency investor.
XCOPY is a digital artist on NFT or crypto art platform whose identity is unknown. He creates art related to death, dystopia and apathy through flashing imagery and distorted loops. His notable art work are Right click and Save As Guy, Grifters, Max Pain and Frens. XCOPY’s highest sold art for 6.2 million dollar(1630ETH)
Jose Delbo is an Argentinian born artist who published his first work at the age of only 16.He was inspired by the American cowboy westerns. He was comic artist and create arts Genesis, Who is the creator 2 Heroines, weight of the world etc. Artist are jumping into a place where they can earn or paid thousands for their work. But they are running into scam and fraud. Investing in NFT market can be highly risky within the global crypto markets. It also lacks the control of government over crypto market. So NFT and cryptocurrency market has its own pros and cons.
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