Block Chain Technology and Investments Buzz for Beginners

👉NFT is a unique token in blockchain which represents or reference some other data, like an image or video. For NFT's the history and owners can be trackable in the Blockchain. Formally, NFTs are the smart contracts (ERC-721).

👉How an Artist can benefit from NFT's

Artist can monetize the art by selling signed prints or print on merchandise and sell online. Or digitize it and modify it online. How to find if the art is original or modified? This is where NFT's helps. NFT is basically a smart contract asserting that the digital art is the original. Otherwords, the NFT consists of digital art and a contract on blockchain asserting you had created the art, which is original. Now Artist can sell the NFT. You can sell NFT and make money. Also the Artist can have a fee on the NFT which he will get paid for every re-sale of his paintings. This feature is the best reason why NFTs are great for content creators. It allows them to focus on the art without as much concern for its initial sale price. If their works become popular, they can earn significant sums just from the secondary market in the future.

👉How to start NFTS

You’ll need a Metamask to start the NFT. This is a Chrome extension which serves as your virtual wallet and can interact with platforms to buy and sell your art on the blockchain. It functions as both e-signature and wallet in one. Download Metamask, create a wallet on it and then send some ETH to that wallet. You can buy ETH with your credit card on any crypto exchanges. Once the transaction is complete and you’re verified, you can send it to Metamask. It takes up to five days, but you only have to do this when you’re getting started.

👉NFT MARKETPLACES

NFT marketplaces enable users both to share their original pieces and also buy the work of others, which is also a great adventure.

👉Opensea

No type verification is necessary; anyone can create an account and start minting NFTs. You can browse through countless collections to find particular artists or peruse rankings by sales volume to discover interesting pieces. Submitting NFT's is easy. Simply click on Create -> Submit NFTs and then you will be able to create a new collection and start adding new pieces. No coding required. If you want to sell your pieces, you’ll need to pay for gas, which is the cost of interacting with the smart contract governing OpenSea, but you only have to do so once. Right now, it costs around $50 to $100 depending on network traffic.

👉Rarible

Rarible is similar to OpenSea in that it is democratic and open. Here, however, because you have to pay for each artwork you mint (i.e., create and put on a blockchain), there’s much less noise and not many collectibles. People mostly use Rarible to mint individual pieces. So, although getting your work seen here is easier, the cost is much higher, as you’ll be paying $40 to $80 for the minting of each work.

👉Foundation

Foundation is difficult to access. Require an invitation from registered Artist in Foundation. Artist's/Photographer's start minting your work. Explore NFT's and create NFT's.