How to Get A Kickstart at NFTs
English Day - 13 April 2022
What is an NFT? A non Fungible token is a non-interchangeable unit of certain data stored in a digital ledger, it allows you to buy and sell the ownership of a digital item; such as drawings, GIFs, songs, in-game items and much more. It has been gaining traction back in 2017 but is getting more fame recently since more and more public figures and celebrities started to get involved in this blockchain, take Grimes for example; the singer managed to sell 6 million dollars worth of digital art as NFTs.
There are plenty of types of NFTs and there’s no way we can cover all of them at once. Let’s take the fashion industry for example online stores are selling digital clothing, yes, digital clothing.
DressX is one of many NFT clothing shops out there, these stores refrain from selling actual physical clothing that we wear daily and instead, they sell 3D generated designer outfits. How do you wear it? Well, they have pretty detailed instructions for the customers on their website but most people find it pretty tedious.
“We strongly believe that the amount of clothing produced today is way greater than humanity needs. We share the beauty and excitement that physical fashion creates, but we believe that there are ways to produce less, to produce more sustainably, and not to produce at all. At the current stage of DRESSX development, we aim to show that some clothes can exist only in their digital versions. Don't shop less, shop digital fashion.” -DressX
Now is the perfect time to get started with NFTs, since we are currently still in a pandemic and most things are done digitally to limit physical contact and here is an instruction on how to get started:
1. Buy some cryptocurrency The first the thing you need to understand is that you have to pay for a platform to "mint" (ie, generate) NFTs for your work. Most platforms want to pay for it in Ether, the native cryptocurrency of the open-source blockchain platform Ethereum, where NFT first appeared on the market.
2. Use an NFT app and upload your file After buying cryptocurrency, you will need to set up a digital wallet and put some money in it to get a head start. After doing so, you will be able to upload your work up to 30MB in size.
3. Set up an auction One thing to keep in mind here is the lowest price setting. If you set it too low, huge fees can devour your profits and even cause you to lose money after the sale.
We will set the price to an ambitious 1 ETH and set a bid period of 7 days. Next, you will be presented with the option to unlock after purchase. This allows future buyers to make a full high-resolution version of the art and additional material available to future buyers via a secret website or download link.
Below that is the most confusing option called "Select Collection". This is a very technical question about building a blockchain. Then, you can add titles and descriptions to your list.
To maximize the potential for selling NFTs, you need to take the time to think about it. You will then be asked to consider the percentage of royalties you would like to charge if you resell the art in the future.
Overall, NFTs may be a new thing to most people like you and me, therefore NFTs are highly approved for young people getting into trading and cryptocurrencies.
Written by Selena T. XI SOS 2
Share:
Informasi Terkini seputar sekolah kristen BPK PENABUR
Daftar Indeks Berita Terbaru dari BPK Penabur
Berita BPK PENABUR Jakarta - 18 March 2025
Informasi Ketentuan Daftar Ulang dan Penetapan Ua...
Berita BPK PENABUR Jakarta - 17 March 2025
Serunya Bikin Sambel Kucai
Serunya Bikin Sambel Kucai
Berita BPK PENABUR Jakarta - 17 March 2025
Video Kegiatan Live In SMAK 5 PENABUR Jakarta Day...
Video Kegiatan Live In SMAK 5 PENABUR Jakarta Day...
Berita BPK PENABUR Jakarta - 15 March 2025
Workshop Cyber Security: Mengamankan Diri di Duni...
Workshop Cyber Security: Mengamankan Diri di Duni...
Berita BPK PENABUR Jakarta - 10 March 2025
Ibadah Jelang Asesmen Akhir Sekolah Kelas XII SMA...
Ibadah Jelang Asesmen Akhir Sekolah Kelas XII SMA...
Berita BPK PENABUR Jakarta - 22 March 2024
Undangan Christian Parenting: Coping The Inner Ch...
Undangan Christian Parenting: Coping The Inner Ch...
Berita BPK PENABUR Jakarta - 13 March 2024
Selamat Menempuh Ujian Sekolah
Selamat Menempuh Ujian Sekolah
Berita BPK PENABUR Jakarta - 10 March 2024
Ibadah Siswa: Warisan Hati
Ibadah Siswa: Warisan Hati
Berita BPK PENABUR Jakarta - 07 March 2024
Seminar Motivasi Kelas XI: Bijak Online, Bahagia ...
Seminar Motivasi Kelas XI: Bijak Online, Bahagia ...
Berita BPK PENABUR Jakarta - 09 January 2021
Jadwal Pelajaran Kelas XII 11-15 Januari 2020
Berita Lainnya - 18 August 2024
There is no reason why any of us would have to wa...
There is no reason why any of us would have to wa...
Berita Lainnya - 17 August 2024
Hidup Akan Menjadi Indah Jika Kita Dapat Bekerja ...
Hidup Akan Menjadi Indah Jika Kita Dapat Bekerja ...
Berita Lainnya - 16 August 2024
God is calling us to learn from Him
God is calling us to learn from Him
Berita Lainnya - 15 August 2024
Aku Tidak Akan Goyah Karena Ada Tuhan Yesus Dalam...
Aku Tidak Akan Goyah Karena Ada Tuhan Yesus Dalam...
Berita Lainnya - 10 August 2023
Be The BEST Version of Your Self
Be The BEST Version of Your Self
Berita Lainnya - 11 August 2023
Kasih Tuhan Melandasi Kejujuran Kita
Kasih Tuhan Melandasi Kejujuran Kita
Berita Lainnya - 09 August 2023
Tuhan Memberikan Kesejukan di Tengah Hati yang G...
Tuhan Memberikan Kesejukan di Tengah Hati yang G...
Berita Lainnya - 08 August 2023
It's Not about Us but It's All about God
It's Not about Us but It's All about God
