Using mostly free Graphic Design Tools, artists have created $477k pieces of Art, called NFTs.
We take a dive into the original NFT: CryptoPunks and 2021’s breakout hit: Bored Ape Yacht Club. Keep reading to learn how you can make and sell NFTs in a weekend.
What is an NFT Collection?
In the digital realm, NFT art is a collectible digital asset that may be traded. Due to the simple fact that they're one of a kind works of art like paintings, the market has found them valuable.
Digital files, as we all know, can be copied and pasted indefinitely by their owners. With NFTs, however, this is not the case. Digital certificates proving ownership of a particular digital or physical asset are required when buying or selling these assets.
Buyers can now purchase NFTs just as they can a physical object.
These are safeguarded by blockchain technology, which creates an immutable database. Since cryptocurrencies like Bitcoin and Ethereum use blockchains as databases, they can theoretically create their own NFT system on top of that.
It is impossible to make a new version of the NFT by copying and pasting the ownership record, because of the structure of the blockchain. They can be traded easily, their authenticity can be checked, and they don't exist in the actual world. While NFTs use the same database as cryptocurrency, they have the ability to contain additional information that adds to their value.
What are the best places to sell an NFT Collection?
As NFT fever sweeps the globe, I've compiled a list of the easiest sites to buy and sell digital assets.
In recent years, NFTs have emerged as increasinly popular digital assets. As a result, new markets for the purchase and sale of digital assets have emerged.
Here are some of the best NFT marketplaces to check out.
- Reason 1
- Reason 2
- Reason 3
In addition to collectibles, games, and digital art, OpenSea offers a blockchain-based decentralised marketplace for all kinds of digital goods. In addition, OpenSea serves as a digital asset aggregator and distributes digital materials to other marketplaces, making them available to a wider audience.
Approximately USD 3 – 5 million is traded each day on OpenSea, the largest NFT platform out there.
OpenSea Marketplace has a selection of domain names for sale.
Devin Finzer and Alex Atallah started OpenSea in New York City in 2017 and have been pioneers in the NFT space ever since. The organisation just received an investment of USD 23 million, which will allow it to expand even further.
There is no central authority that holds your digital property in custody when you trade on OpenSea. A mobile wallet like Coinbase or Opera Touch, or an in-browser Chrome extension like MetaMask can be used instead of a traditional wallet. Because of the immutability of the trade, this promotes trust in and acknowledgment of the work of the creator.
For the first time, you may manufacture ("mint") and buy, and sell digital collectibles on Rarible, which is a community-owned NFT marketplace. Early in 2020, Alex Salnikov and Alexei Falin established the initiative in Moscow.
The marketplace is open to everyone, and anyone can make and display artwork there. In addition, Ethereum tokens can be used to purchase artworks on display. Because it's a non-custodial exchange, your tokens are fully yours. Proof of Provenance, another feature of the platform, gives users access to their own IP rights.
The 24-hour average trading volume was over USD 1.5 million at the time of compiling this list of the greatest NFT Marketplaces. In addition to the gas fee charged by the seller for minting the token, Rarible charges a fee of 2.5 percent to both the customer and the seller.
It's a digital art gallery that only sells one-of-a-kind digital art. It is possible to trade crypto-collectible digital items direct-from-artist.
Collecting SuperRares is fundamentally a communal activity. For social settings, digital treasures are ideal because of their open ownership records. This added social layer can provide additional context and make it easier to communities to come to a consensus on the value of products in the market.
What are the most important features of an NFT Collection?
NFTs have made a comeback for a number of reasons.
One of the driving factors behind this has been the increased popularity of cryptocurrency and its underlying blockchain framework, which provides a framework to document the ownership of digital property.
The mix of fandom, royalty economics, and the rules of scarcity go well beyond the capabilities of the technology itself. Everyone wants to be a part of the growing trend of consumers owning their own original digital material and holding on to it as an asset, given also that some NFT prices have been astronomical.
Although the asset is owned by the purchaser of the non-fungible token, it can still be distributed through the internet. The more people who view an NFT, the more it is worth, because of the exposure it receives.
The original inventor receives 10% of the revenue, while the platform receives a minor percentage, and the current owner receives all of the revenue from this. As a result, there is the potential for long-term revenue generation from popular digital assets.
With NFTs, the goal is authenticity. Because of the blockchain, digital collectibles can be easily verified and distinguished from other NFTs. There is no point in creating and distributing fake collectibles because each item can be traced back to the actual inventor or issuer of the piece. In addition, because each one is unique (unlike baseball cards), they cannot be traded like bitcoin.
Why should I create a 10k NFT Collection?
The cheapest priced CryptoPunk is $477,000.
This is why you should start an NFT Collection.
Despite the fact that an NFT's utility is the art, many projects have a plan in place.
A few promise scavenger hunts, live events, animated presentations, and gaming integration, among other possibilities. After the initial sale, there is no limit to what you may do with the money you've raised to support your community.
The original plan for Cryptoads features a social networking site named "The Pond" that is password-protected. Then metalink came along and we learned a lot.
After creating an animated music video for the No Fun Toads on NFT Addiction, I understood that this needs to be about doing what I love, helping others do what they love, and helping others.
It's all about having fun in moderation and staying sane with No Fun Toads! In its place, I've placed two north stars, which I hope will direct us toward the goal of increasing the number happy people in the world.
A collection of 10,000 NFTs does not necessitate drawing 10,000 toads. To assist in the generation of them, we'll turn to computer programming. In addition, you can set the rarity percentage for each attribute.
It's a simple matter of creating a foundation character and then adding traits to it, one at a time.
What are the pros and cons of OpenSea?
- Pro 1
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- Pro 3
- Con 1
- Con 2
- Cont 3
As the largest market for non-fungible assets, OpenSea takes great satisfaction in its position as a decentralized exchange. It's possible to discover millions of pieces of unique digital content from a wide range of categories using OpenSea's search engine.
You may buy and sell digital assets like gaming goods, domain names and collectibles on the OpenSea platform.
The platform serves as both a marketplace and an auction site for trading NFTs.
What are the requirements for NFT Artwork?
- Requirement 1
- Requirement 2
- Requirement 3
NFTs are built around blockchain technology. The benefits and downsides of various blockchains must be considered before jumping on the NFT bandwagon. There are a lot of NFT and DeFi initiatives on the Ethereum blockchain.
However, because of the increased network traffic, the gas fees on the blockchain are significantly greater. The energy consumption and scalability of Ethereum are also lower than those of Bitcoin, which have better security measures and are trustworthy.
A layer 2 scaling solution called Polygon, on the other hand, provides low gas fees, rapid transactions and minimal energy consumption while increasing scalability. Layer-2 solutions like Immutable X enable scalability and gas-free transactions.
Solana, on the other hand, is a rapid, scalable, and cost-effective solution. Unlike Ethereum's mainnet, which is still in beta, it is less decentralised. Tezos, which also allows for gas-free transactions, is a well-liked choice for music-related endeavours.
A crypto wallet is the first item you need before you begin creating your NFT art, in which you will save your NFTs and other digital assets. To ensure that your NFTs and the NFT marketplace you plan to use are compatible with your wallet, this is a vital consideration.
Software wallets and hardware wallets are the two broad categories under which crypto/NFT wallets fall. Hardware wallets, on the other hand, are physical wallets that keep NFTs offline, making them more secure than a digital wallet. MetaMask, Trust Wallet, Enjin, and Coinbase wallet are some of the most popular wallets. These wallets are described in full in our comprehensive guide on crypto wallets.
Where can I find Artists to create NFT Art?
You may find NFT artists and developers on a variety of freelance websites, including Fiverr, Freelancer, and Upwork. Another wonderful place to meet artists and developers is Discord. If none of these solutions suit your needs, you might ask around to see if any of your friends or acquaintances are familiar with any digital artists and developers.
However, be on the lookout for fraud, regardless of where you procure the services of an artist and developer. Pseudonyms are increasingly popular among artists and developers, particularly in the new media and technology (NFT) sector.
Research is needed to verify that creators are who they say they are. To avoid being overcharged, conduct some research on freelance design and development rates in advance. Ask them how much they need, and insist that they provide you with the information you require in detail.
How do I promote my NFT Collection?
The first NFT has been created. What's next? Over the last few weeks, my inbox has been overflowing with inquiries from aspiring crypto artists. Many times a day, people ask me, "How do you promote your NFT?" How do you generally market your work?
For anyone in DTC marketing, one of the easiest places to start is Facebook Ads.
However, a lot of these techniques will be familiar to anyone who has previously used the internet to promote new releases. Even if NFTs become common knowledge in the near future, it is important to be on the correct social media platforms and interact with the right kinds of individuals in order to get your message out there in a unique way.
It's important to note that these tips won't guarantee that your NFT project will sell, but they will help you get to know the community and establish a personality for yourself and your business.
My first encounter with NFTs brought me to Discord, a platform I had never used before. As a member of several gaming servers, I didn't have the software installed on my mobile device. Discord links can be found on a large number of crypto Twitter accounts.
These discord servers house another level of the community. This is where debates take place, events are webcast, calls are set up, new projects are promoted, and problems are solved.
If you want to start your own NFT collection, start thinking of designs and choose the platform that's right for you!
You can learn more about what we're building at Capture by visiting the MemberOne OpenSea Collection.