What’s an NFT? What’s a blockchain? How do you get started in this crazy new world of art?
If you’re new to the world of non-fungible tokens there are some huge challenges. The biggest is information overload. There are so many scattered communities, tools and strange terminologies that it can be quite intimidating. I’ve put together this blog to create a central community hub to help you get started and learn about NFTs as quickly as possible.
NFT stands for Non-Fungible Token. Fungible means interchangeable, and non-fungible means not interchangeable. So the easiest way to think about fungible tokens is like cash. You can go to any ATM in the world and get money, and it will always be of the same value. If you had a $20 bill and traded it for a $20 bill with someone else, you would both be getting the same thing.
The most common term you’ll hear in the new world of digital art and NFTs is, “the blockchain.” A blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible — a house, a car, cash, or land — or intangible like intellectual property.
So what does this mean? It means that every transaction ever made on the blockchain is stored there forever. That’s why it’s called a “blockchain.” The data is stored in blocks, and those blocks are chained together to make it tamper-proof and extremely safe.
When you buy an NFT (or create one), it gets stored on the blockchain forever. It is like an official record of ownership, which makes it much safer than buying digital goods from someone on eBay or Amazon. Because the transaction is stored on the blockchain, you know it came from them and no one else. To date, NFTs have been used to sell everything from digital trading cards to game items. Celebrities such as Lindsay Lohan, Paris Hilton and even YouTube star Logan Paul have also created their NFT marketplaces.
How do I buy an NFT?
To purchase an NFT on these platforms, you’ll need to first acquire some ETH to pay the transaction fee. You can purchase ETH through either a cryptocurrency exchange or an online brokerage. Once you have ETH in your possession, you can then create a wallet.
NFTs are generally sold at auction, and both buyers and sellers pay transaction fees. Fees range from around 2% to 8%, depending on the platform.
These are some of the platforms where NFTs are sold;
- Bluemoon.io
- Foundation
- KnownOrigin
- OpenSea
- Rarible
How do I create an NFT?
It’s really easy to make your NFT!
First, you’ll need to decide which blockchain network you want to use; most platforms will make this decision automatically based on what they think is best for your situation. Then, you’ll upload the art you want to sell as an NFT onto one of several different sites, including OpenSea and Rarible. Just keep in mind that not all sites have the same quality control standards; some will allow you to upload anything you want as long as it costs money to do so.
If you’re interested in creating digital art for NFTs, one of the easiest programs to use is Canva. With Canva, you can create a variety of different types of art using only your mouse and keyboard. If you’re just starting, we recommend using the “Basic” option so that you don’t get overwhelmed by too many options. Once your NFT is up, it’s time to start promoting! One of the best ways is through social media pages like Twitter, Facebook, and Instagram. You can also share a link back to your website (if you have one) or blog post about yourself as an artist so people can learn more about who created this piece before they buy it!
Now that you understand what NFTs and the blockchain are, it’s time to learn the basics of how this new world of digital art creation works. The resources I’ve laid out above contain a lot of great information, from a general overview of the crypto-world to specific advice on how to create an NFT project with Canva. Put in the work, and you’ll be well on your way towards creating a fun and innovative project for the world to interact with.
