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We live in an exciting and ambiguous time when many things go beyond our usual perception. Sometimes it is hard to get the essence of certain situations and processes, especially in the background of global events. Thus, you might have heard that Twitter’s founder, Jack Dorsey, has managed to sell the NFT token of his first tweet for $2,9 million.
It seems awesome and weird at the same time. Why did the general director of Bridge Oracle, Hakan Estavi, decide to make such a purchase? The thing is that people want to possess something unique and one-of-the-kind. It is one of the main life principles of modern society.
Indeed, whatever sphere you take, you want to get an original instead of a well-made copy. When students turn to the online essay writing website and place orders, they expect to get unique paperwork that will stand a plagiarism check. It is a key requirement that every writing service must meet.
The same goes for any other life aspect where uniqueness is a top priority. Even if you draw a black square, your picture will hardly cost $20 million, unlike Malevich’s one. It is one of the reasons why people go crazy about NFT tokens.
If you have already got to the bottom of the blockchain operating principles, you understand how it works and what its main advantages are. However, it is crucial to look at some moments more precisely to get the NFT essence. Let’s consider a simple yet illustrative example.
Suppose your bro borrowed your $100 and decided to repay a debt in a month. You don’t care that he returns not the same banknote you provided him with back in days. In fact, he can give you two $50 banknotes or even one hundred $1 banknotes. You need your $100 back in any form. It is how the usual blockchain works.
Every block is fungible. However, the situation is completely different for NFT tokens since it is about non-fungible tokens. Thus, it will be about that specific $100 you gave, with all its pinches and scuff marks.
The very value of the NFT token lies in the fact that people have decided that they are valuable. NFT is more about the unique quality of the thing and confirmation of its uniqueness.
NFT tokens have become one of the most powerful trends of the 21st century, and even though only half of 2021 has passed, its rating has already broken all the records. Everyone wants to obtain digital assets that cannot be copied or replaced with fake analogs.
If you want to try your hand at creating NFT tokens, you should go deep down the question. Students who lack time for such activity due to assignments can get, for example, anthropology essays, just in a few clicks.
Choosing an appropriate artwork is the first step toward your goal. Today, it is not a big deal to turn any object into an NFT token. It can be about music, video, real masterpieces, or virtual items from your online game. In fact, any digital file can be turned in this type of token, even if it’s your cat’s selfie. You don’t need to have sound knowledge of cryptocurrency or digital technologies since you can come across dozens of platforms with a step-by-step guide.
When this stage is over, it is time to think about a suitable blockchain to create your NFT token. Nowadays, Ethereum runs the table worldwide, and its ecosystem is considered the most well-developed. However, you can also consider Polkadot, Tezos, WAX, etc.
Bear in mind that every platform has various peculiarities related to compatible services, wallets, and marketplaces. That’s why rookies should better make their way with Ethereum.
You should be ready to spend a penny on the minting of NFT tokens, so you will not do without an Ethereum wallet with some available cryptocurrency. They say that the so-called MetaMask is one of the most suitable ones since you can install it as an app on your smartphone.
Even though the demanded price tag is pretty changeable, you should have at least $100 on your wallet and be ready to pay twice as much. Everything will depend on a daily operational price. Thus, if you need more spare time to earn this money, you can turn to the Midtermguru to free up your schedule.
Today, OpenSea, Rarible, and Mintable are the most popular ones for minting the desired cryptocurrency. They allow you to turn any digital file into an NFT token. Besides, the former platform provides users with an opportunity to join it free of charge and freedom to list their content.
Thus, you don’t need to be an artist to sell your works. On the other hand, it will also mean that you have to make efforts to stand out from the rest to get your five minutes of fame. When you reach out to OpenSea, you should press the user icon and “My Profile” to choose the most suitable way of connecting your ETH wallet.
If you are interested in using MetaMask, you should select “use a different wallet” and follow the instructions. Everything is user-friendly and unequivocally, so you will easily cope with the task.
Once all the previous stages are over, you can try your hand at creating your first NFT. Go to the top menu and click on “Create.” You should fill in all the required data and save changes. It is when your minting process begins.
After clicking on “New item,” load the chosen option, provide all the details you want, and press the “Create” button. You have become a lucky owner of an NFT token! Now you can sell it on the platform by opening it in the collection and pressing on the “Sell” button.
You can choose the cryptocurrency you accept as a payment and the method of selling itself. Thus, it can be either selling with a fixed price tag or auction. In most cases, users choose the latter option.
However, bear in mind that you will have to pay for a transaction within the Ethereum network. Some other platforms impose fees which size depend on the Ethereum load. If it is maximal, a fee can reach $100. Thus, you should decide whether you are ready to take risks since your chances won’t be high if your artwork doesn’t stand out.
Creating your own NFT is a relevantly straightforward process. You don't need any prior Crypto knowledge.
It depends on the hours spent on creating the NFT
Technically anyone can sell an NFT. You can create work and turn it into an NFT on the blockchain. Once you do that, you can put it up for sale in a marketplace.
The average price of an NFT is around 2.15 ether or $5,800.
Unlike other bubbles, NFTs will change the future including how we view Cryptocurrency.
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