What Is An NFT? How To Create An NFT?
Have you heard “An Ethereum-based Spiderman NFT just sold for $25k as Marvel comics enter the blockchain realm.” OR “ICC (International Cricket Council) Planning to Sell Video of Pakistan’s Winning Moment Against India in T20 Worldcup 2021 as NFT”
But Wait. What is the NFT? What are they selling and buying? Can everything be sold as NFT?
Yes, it’s a new thing. Let’s discover more about it.
What is NFT?
NFT stands for “Non-Fungible Token”. NFTs are new digital cryptocurrencies. It is recorded on blockchain just like other cryptocurrencies. The key feature of the NFTs is that they are completely unique and it’s not possible to duplicate them.
So it’s kind of a unique token that only one person can have at a time. Someone may have the digital image of a piece of art you bought as an NFT, but none could possess the original one except for you. The owner can sell his NFTs whenever he wants. Due to their rarity and rising prices, there is a considerable difference in the buying and selling process. You can buy NFTs through any currency. Some platforms require cryptocurrencies while others work well on fiat currency.
Want To Sell Your Creative and Artistic NFT’s?
Do you have an artistic or creative talent that you would like to turn into a Non-Fungible Token?
If you are an artist or have any other creative talent, you can sell your art by using NFTs. Doesn’t it sound exciting?
Just convert your art into digital assets. Turn them into NFTs and sell them. As simple as that!
The detailed method of converting your art into NFTs is as follows.
Select your Artwork and convert it to NFT
As you must be familiar with NFT by now. Any digital file can be converted into NFTs. So the first step in selling your content is to choose which art piece you want to sell. It could be any video, image, text, or painting. Convert the art piece into a digital asset and proceed to the next step.
Use Your Digital Wallet
Once you’ve decided which artwork you want to present for sale, you are ready for the next step. That is, you need ETH in your Ethereum wallet. NFTs can be created on a variety of blockchains. But, Ethereum is the most popular and frequently used currency by the well-known NFT marketplaces. So ETHs are important to set a price. The price demanded by the NFTs is quite unpredictable.
Select Your MarketPlace
Now you need to choose a marketplace where you can list your artwork as NFT. Mintable, Rarible, and OpenSea are the most popular NFT marketplaces right now. Join whichever marketplace you find best. It’s better to join the marketplace free and have no content moderation policy.
Create the NFT
Now after having ETH wallet and selection of marketplace. Create your NFT. Fill out the needed information and create the NFT.
Your new NFT is now ready for minting.
How To Sell Your NFT
Now that you know exactly what NFTs are, let’s move on to the fun part – making money, that is.
It’s not hard to create and sell the NFTs. You only need to follow a couple of instructions. Follow along to understand the step-by-step guide of selling NFTs.
Making money out of NFTs follows the same procedure as that of any other business. That is, you have to invest to earn. But the ratio of investment and earning is so incredible that it’s a complete win-win situation.
So you need to buy some cryptocurrency. Why?
Because you need to pay the marketplace some money to mint the NFT of your art. Most of the marketplaces deal in Ether which is the native cryptocurrency of the Ethereum platform. Be mindful of the fact that the value of Ether fluctuates.
Create A Digital Wallet and Add Money
To buy Ether, you will need to create a digital wallet and connect that to the NFT platform of your choice.
You can create a digital wallet easily through metamask extension or app. Fill in the required information and create the wallet. Set up your account and add money to your wallet. Buying Ethers is pretty easy. You can use your debit card or Apple Pay to buy Ether.
Connect Your Wallet To An NFT Marketplace
You can move on to the NFT platform of your choice once you have some Ether in your digital wallet. There are a number of NFT platforms to choose from. You can choose a platform according to your preferences. Head to the platform and connect your wallet to it.
Upload Your Art And Create An NFT
After connecting the wallet with the NFT platform, you are not ready to create your NFT. You can either create a one-off selling NFT or sell the same item again and again. Upload your digital asset and convert it into the NFT.
Run An Auction
The next step requires you to choose how you want to sell your NFT. You could go for a “Fixed Price” option, select “Unlimited Auction” or set up a “Timed Auction”. Set the minimum price and give your NFT out for sale.
Briefly Describe Your NFT
Just like you would describe your product for a sale, add a title and description for your NFT. Take some time and think about your product. Add an appealing description and set a percentage of royalties to claim on future sales.
Pay And You’re Ready To Go!
Pay the listing fee through your digital wallet and set your NFT out for sale.
BuzzShow – A Video NFT Marketplace
BuzzShow Network is a blockchain-based video social media decentralized platform. You can create, curate, watch, share, and like videos on the platform. The platform rewards its users with varying benefits based on their contributions. The users of BuzzShow Network can earn the platform’s native utility tokens “Goldies”, by creating, curating, sharing, viewing, and streaming video content.
BuzzShow Network launches a video NFTs system that is fully integrated into the core platform. It is the step forward to revolutionize video social media networks by creating high economic value. Moreover, it opens doors for content creators, video animators, and character creators, allowing them to sell, license their works. NFTs are anticipated to be the best way to monetize content in the future.