I first noticed the rise of NFT in late 2020 and early 2021, they are gaining momentum and seem to be a perfect way to sell one limited edition of one digitised piece of art or photography. In fact, the content of NFT’s is now pretty diverse including. music and video and even animated anything.
NFTs are non-fungible tokens. They are a digital certificate of ownership for any assigned digital asset and for only the one item being sold. Basically, it is a contract that is put together using bits of open source code, which anyone can find from platforms like GitHub, and used to secure that digital item. Once the code is written, it is then minted, or permanently published, into a token on a blockchain, like Ethereum.
Some popular forms of NFTs include jpegs, gifs, videos and, of course, tweets. But really any digital asset that the creator wants to make unique can become an NFT, like articles or event tickets.
Once the NFT is purchased, the owner has the digital rights to resell, distribute or license the digital asset as they please. The only caveat is that the creator can program in limitations in the NFT’s code for how it gets used, NFT creators also have the opportunity to earn royalties off of future reselling transactions. This means when you actually process your NFT you as the creator are able to set your own commission rate per sale for every one sold, the interesting part of the NFT sale means that this percentage is set against the NFT and using Blockchain means and forwards selling of the NFT over its lifetime will generate you the creator the same set percentage over and over
Her is a list of the basic process of setting up your own NFT’s
- You’ll need some cryptocurrency. Most platforms want paying in the Ethereum cryptocurrency, Ether (Image credit: Ethereum) …
- Create a digital wallet. …
- Add money to your wallet. …
- Connect your wallet to the NFT platform. …
- Upload your file. …
- Set up an auction. …
- Describe your NFT. …
- Pay the fee (but be warned)
Before you start, you will need to decide on which blockchain you want to issue your NFTs. Ethereum is currently the leading blockchain service for NFT issuance. However, there is a range of other blockchains that are becoming increasingly popular, including:
Platform you can start with
- Binance Smart Chain
- Flow by Dapper Labs
This is just a brief introduction to NFT’s for those who have not heard about this opportunity but it’s not for the faint-hearted however there is plenty to learn and listen to on youtube and at this link which explains the process in greater detail. I personally will be giving this a go very soon with the images within this post so fingers crossed and if there is any positive news I shall share it here.
These featured images are some of my own personal work which never gets seen but has been in the International Graphics brand for 15 years and is part of my pop artwork using multilayers and my own pictures. I hope you like them?
I will be using After Effects to animate them and adding music and sounds on a loop to create an interesting digital NFT