NFTs are the new wave in the art world and crypto space at large. People are investing so much into digital arts, contents, punks etc and selling them for so much more!, its crazy right?
Just when we thought we had seen it all, Jack, the CEO of twitter sold his first tweet for $2.5 Million Dollars!. Beeple – an artist sold his work to a collector for $ 67 million dollars. Not only that, a 12 year old kid made nearly $400,000 dollars from NFTs in less than 9 hours. I understand this might be too much for you, so take a deep breathe, relax, let dive in.
What is an NFT?
NFT is an acronym for non-fungible token.“Non-Fungible” means it’s unique; therefore it can’t be replaced with any other thing. NFTs are simply tokens we can use to represent ownership of assets, which means we can tokenize things like art, music collectibles etc., these unique assets can only be owned by one person in the blockchain. NFTs can be anything digital, like; Digital art, Music, drawings, punks, etc). The idea of non- fungible tokens started way back in 2012, ever since then it has been evolving into amazing projects with endless possibilities.
How are NFTs made?
You must have heard the word “minting” a couple of times. Minting simply means the process of adding your artwork/content into the blockchain. So basically, the addition of NFTs to a blockchain is known as minting.
Processes involved in Minting NFTs
• Create the artwork/content you want to mint.
• Create a Wallet.
• Purchase Ethereum/or any token that the blockchain you’ll mint on supports.
• Selecting the NFT market place you want to mint on.
How to make money with NFTs
Anyone can make money just by buying and selling NFTs on platforms called market places where NFTs can be traded. You can make “cool money” as an artist (minting your works on the platforms), a collector (buying artworks from artists/other collectors) or both in these market places.
Here are some market places where NFTs can be created, bought and sold.
1. SuperRare (superrare.com)
2. Rarible (rarible.com)
3. Opensea (opeansea.io)
4. Foundation (foundation.app)
5. Nifty Gateway (niftygateway.com)
