Are you looking to purchase or make your own NFT?
NFT’s ( non-fungible tokens ) are very popular right now. You’re probably wondering what are they? What do they do? Why are they popular? And how do I create one?
At Austin Visuals 3D Animation Studio, we create computer graphics and provide custom animated ads and explainer videos to a global audience. www.AustinVisuals.com. Since we are always using the latest cutting edge software and technology to create our services, we are often at the front of technology helping our business clients grow into new technology spaces.
Austin Visuals provides a service helping businesses and individuals create their own NFTs, we offer onboarding, consulting, and will help guide you through your NFT creation process. If this is something you’re interested in email us [email protected] But hey let’s continue with a bit of NFT education below.
What is an NFT?
A non-fungible token (NFT), or a blockchain-based tokenization, is an item or artifact that cannot be redeemed. NFTs can quickly be verified and authenticate digital ownership. This opens up a whole new world of ownership. Not only can someone in any part of the world now potentially become part owner in an asset, there are also new possibilities with NFT’s to sell fractions of an asset and to make commissions on future sales of the original NFT object.
NFTs were made popular by Logan Paul, Mark Cuban, and the NBA. NFTs don’t require you to be a billionaire or a YouTuber to start one. OpenSea, Nifty Gateway, and Rarible allow anyone to join the action.
Collectors want to grab the first chance at next-generation collectible items because of the NFT gold rush. NFTs that sell out in a matter of seconds online can fetch huge resale prices.
The way we see art has been transformed by NFTs, but this is only the beginning.
Anything that’s fungible can be easily replaced. Oil is fungible because any 1 barrel is just as good as the next, but a 1 of 1 Mickey Mantle rookie card is not just any baseball card — it’s irreplaceable or non-fungible.
Tokenizing non-fungible assets enables important information about the asset to be digitalized by the token.
Tokens are stored in wallets which have their own unique addresses. Token IDs refer to wallet addresses that are stored on the blockchain. The blockchain is a vast, public database that anyone can access.
This means that fake NFTs can never be considered the real thing.
How to make your own NFTs
It is very easy to create your own NFTs.
Rarible, OpenSea, and Rarible are the top platforms for NFT Creation. Rarible has the largest total sales, but OpenSea also offers more related services like the ability for you to create an NFT webstore powered through the OpenSea exchange. Both platforms enable users to upload art and create collections, without the need for any technical blockchain knowledge.
Know that there will be upfront costs. NFTs can be powered by a Blockchain, usually Ethereum’s. A blockchain requires you to pay a gas fee, which is a cost that will allow you to tokenize your work.
Rarible asks artists to create their NFTs on the Blockchain (on-chain). This will result in smaller costs. Rarible would be a great choice if your goal is to sell NFTs at astronomical prices. OpenSea’s Collector Manager is a better choice if you are looking to make many NFTs for a lower price.
OpenSea Collection Manager lets users pay one-time fees to create a new collection. OpenSea’s centralized team can create unlimited NFTs from this collection. They can also store them off-chain until they are sold. Your NFT will then be added to the chain and transferred.
This tutorial will walk you through the steps to create your NFTs in OpenSea.
Step 1: Configure MetaMask
First, you will need to set up your software wallet to create your NFT. This wallet will hold your NFTs. You’ll also be able to use it later to pay for blockchain gas fees.
You can download the app and add the chrome extension by going to metamask.io The creation of a MetaMask bank account is easy and completely free. You will need to remember your seed phrase in order to recover the wallet.
Your private key is required to authorize transactions. However, wallets don’t store cryptocurrency or NFTs. All cryptocurrencies, NFTs and their owners are kept on the blockchain. The wallet ID is used to identify ownership.
Step 2: Tokenize your art.
Once you have created a MetaMask account, you will be able create your own NFTs.
Navigate to opensea.io. Click the Create button in your menu bar. Connect your MetaMask wallet using OpenSea now and get to work.
Click the Add New Item button to create a new name for your NFT Collection. You can now upload the file to tokenize.
Then, determine the number of copies you would like for each item and then decide on a retail cost.
Step 3: Post your item on the market
You will need to allow OpenSea to sell NFTs from your account in order to make your first sale. This will require a blockchain transaction. You’ll need to pay a gas charge. Once you have sent some Ether to the MetaMask, you are ready to go. This fee will only be charged the first time an NFT collection is created.
Coinbase and Gemini can be used to buy Ethereum, then send it to your MetaMask address. If you’re completely new to cryptocurrencies, it may be useful to start with buying Ethereum.
OpenSea has now given you permission to sell NFTs. Anyone can buy and find them on the OpenSea marketplace. You’re done!
NFTs can also be used to make money in other ways
NFTs offer three main paths to making money: creation, scalping, or investments.
Most people believe that investing in platforms such as Nifty Gateway or OpenSea is the best way to cash-in on the NFT boom before it bursts. Most miners fled California during the California gold rush empty handed, but those who sold their shovels and picks made incredible wealth.
You might consider creating your own NFTs if you are an influencer or artist. Logan Paul, YouTuber and professional boxer, made more than $5 million selling 3,000 NFTs at 1 Ether each. NFT FOMO is at an all new high.
Purchase a Nifty gateway bot from Upwork and begin scalping if you have the gift of predicting resale demands.
NFTs that are popular
NFTs may be used to identify physical or digital objects. NFTs can also be used to represent physical and digital objects. For example, the NBA creates tokenized images of the most important plays in NBA history and then sells them for a fortune. Additionally, they receive a 5% cut from all secondary market transactions — another benefit for NFTs creators.
CryptoPunks, from Larva Labs, represent tokenized images of 24-bit avatars that are 24×24. There are 10,000 CryptoPunks total, each one unique and selling for an average price of $15,000. There are 9 aliens. 24 apes. 6,039 men. Only 44 CryptoPunks are equipped with the “beanie”, which makes them more valuable than the other 332 who own VR goggles.
The Future of NFTs, Tokenization and Tokenization
The blockchain is changing how we see art and collectibles. However, this is only the beginning. Tokenization has many unexplored applications. It is an extremely powerful tool.
NFTs are here to stay. I’m not sure which NFTs are going to survive and retain their value. Each NFT collection has a unique value proposition. But, ultimately, they are worth only what someone is willing and able to pay.
Given enough time, the vast majority of NFTs created may be worthless. However, there will always be some that are more valuable and sought-after.
Perhaps your NFT will be the next Mona Lisa! There is only one way to find it!
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The NFT world is pretty new. If you need help onboarding into the NFT world or need help creating your own NFT, Austin Visuals can be your guide. Just email us with your question about your project and we can become your guide. Austin Visuals can even make custom 2D or 3D Animated Graphics for your NFT. Tell us more about your project idea. Email us [email protected]