Nowadays, the turnover of NFT tokens sector has reached $ 500 million, even though most of the tokens were created in the first months of 2021 !! An excellent reason to finally figure out how it works and start gaining assets on it.
Let’s see what is this beast and why is the whole world obsessed with it? And how to create your own NFT token?
The Interest in unique NFTs has appeared after high-profile news about the sale of cryptoart.
An NFT token (non-fungible token) is an analogue of safety, that secures a person’s ownership of a unique digital object in the Web.
Any person who owns the rights of the digital product can create his own NFT token. In order To do it, you need to tokenize your product — release an NFT, set a price and put it up for auction. Information that a specific buyer owns such token and can dispose of it is recorded in the blockchain.
Unlike traditional cryptocurrencies, each NFT token is unique and cannot be сounterfeited, splited or replaced. This technology is ideal for securing rights to a unique object, like peace of art, an object in a computer game, or even real estate.
How NFTs are sold and created?
You can buy or create your own NFT token only on specialized marketplaces. Most of these websites operate on the Ethereum blockchain. That is why, in order to perform operations with NFT, you need to have a wallet with this cryptocurrency .
You can create an NFT token for a picture, video, 3D model, sound — even if they were generated by a neuron. Acceptable formats for NFT tokens are JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF. The cost of placing for sale depends on the transaction fee and is approximately about $ 40.
You can view your collection of NFT in the same place where you store NFT tokens — in the corresponding wallets. A new function in the TBCC Smart Wallet app allows you to buy NFT tokens and store them in the mobile app.
What rights does NFT give?
With the help of NFT, developers have solved the problem of securing ownership of digital objects. Information about the owner and his tokens is fixed in the blockchain. It is impossible to replace or delete it. The author of the content has exclusive rights, and only he makes decisions upon full transfer of these rights to another person in each case.
How do you make money on NFT?
The easiest way to make money with NFT tokens is obvious. They have a price and are transferable, that means they can be traded on opened and closed websites. The value of each property is assigned individually and fluctuates in response to demand.
In order To analyze the situation and prices in a specific segment, you can use analytical resources like NonFungible . If you are a beginner, you can buy cheap but promising NFT tokens to get started. In addition to the price of the NFT token, the buyer pays a commission that fluctuates depending on the network load.
The easiest way to get an NFT token for free is to create your own. In addition to normal market trading, copyright enforcement is essential to NFT. The author of any object can receive interest payments for resaling, copying, broadcasting it.
The most famous and expensive NFT tokens that were purchased:
• The first tweet of the head of Twitter Jack Dorsey was sold for $ 2.91 million;
• Cryptopunks — $ 7.5 million each;
• Painting Beeple — $ 69 million
• DJ 3LAU became the first musician who tokenized his own album and sold it in a limited edition. The amount received for this is $ 11.6 million.
• Singer Grimes sold NFT tokens tied to four drawings for
$ 5.8 million