NFT stands for “Non-Fungible Token. They are unique blockchain-based tokens that can represent practically anything (art, music, property, names, books, paintings) —including physical assets. Unlike traditional currency notes and cryptocurrencies that are “fungible”- traded, exchanged, have similar value across all holders and divisible, NFTs are “Non-fungible”.
WHAT'S THE BUZZ ALL ABOUT IN NFT?
If multidimensional time travel had truly been invented, last week would have seen a lot of Nigerians take a one-way ticket back to a time when they first heard the word “NFT.
Many creators and collectors of these unique digital assets have always been around and struggled to make strides with creating, minting, marketing, and selling/reselling their projects.
With Twitter as the world’s largest meeting point for creators, collectors, and NFT communities, African creators like Anthony Ezekwo (Nigerian Artist), Benjamin Aidoo (Ghanian Pallbearer), Mpho Jacobs (South African painter and digital artist), and most recently Adisa Olashile, an Ibadan based mobile photographer who broke the internet with a picture of a baba Onilu (an old drummer) sold at 0.3ETH and later a video of appreciation sold 1.1ETH ($3,028)
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THE QUESTION YOU MIGHT BE ASKING NEXT IS, HOW DO I BECOME AN NFT CREATOR?
1) Research and Understand Web3/Crypto/NFTs.
The fact remains, You can’t buy or sell what you neither have knowledge about nor derive satisfaction from. For many creators within different platforms, communities, and art formats, creating a single piece or collection is a means of artistic expression, creativity, and originality they are willing to share at a convenient price without fear of fakes or outrageous charges from intermediaries. For collectors, it is a proof of authenticity, a ticket to future opportunities, and most times the chance to own an irreplaceable piece of artwork that can be monetized, resold, and passed on to generations.
2) Create your original piece.
Here’s where you actually get to develop the one thing you set out to do. Contrary to popular belief, NFTs are not just for digital artists, painters, or photographers. These tokens can be anything you own and can authenticate their originality as yours. Musicians can sell audio-based content, fashion brands and designers have been seen making strides in the NFT marketplace, individuals with rare collectibles, gaming cards, limited toy/sports/valuable collections, and even domain names can be sold.
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3) Choose a marketplace.
There isn't much to talk about here except understanding how different web3 marketplaces work and their offerings of trade. NFT marketplaces vary from each other by blockchain operations, gas fees, size, volume, accessibility, and availability of digital assets.
Some examples include:
i. Opensea ii. Axie Marketplace iii. Rarible iv. Foundation v. SuperRare e.t.c
4) Set up and Connect a crypto wallet.
It is important to note that without a crypto wallet, it is impossible to neither receive payments for sold pieces nor pay for the listing of new ones.
Before diving into the realm of NFTs once again, both creators (individuals who make art pieces from scratch) and collectors (people who buy/resell artworks) should take priority in setting up a crypto wallet such as Busha that allows for safe and secure transactions between other applications (Metamask) required for buying and selling of digital assets. Some of these wallets even go further to assist both creators and collectors to store their NFTs.
5) Mint & List on Marketplaces.
Right after you upload an NFT on OpenSea for example, you will be requested to fill in details about your new artwork; its name/title, an external link to maybe your Twitter or Instagram account, and a description field to let buyers know/gain insights to your artistic perspective.
OpenSea gives a variety of options to help creators give a breakdown of both artistic elements of each piece or collection as well as toggling between what blockchain they would like to mint their NFTs with (Ethereum chain or polygon). Both of which have their separate characteristics and payment types.
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That being said May the crypto force be with you😌😌😎 .
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