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 - 21 August 2024
Undangan Sosialisasi Persiapan Studi ke Luar Nege...
Undangan Sosialisasi Persiapan Studi ke Luar Nege...
Berita BPK PENABUR Jakarta - 21 August 2024
Undangan Sosialisasi Hasil Psikotest
Undangan Sosialisasi Hasil Psikotest
Berita BPK PENABUR Jakarta - 20 August 2024
Jadwal Informasi Remedial dan Klinis
Jadwal Informasi Remedial dan Klinis
Berita BPK PENABUR Jakarta - 14 August 2024
Pengisian Buku Induk Siswa Kelas X
Pengisian Buku Induk Siswa Kelas X
Berita BPK PENABUR Jakarta - 13 November 2023
benang.id: SMAK 5 Penabur Jakarta Bangkitkan Kisa...
Berita BPK PENABUR Jakarta - 11 November 2023
Teropongistana.com: Ghea Indrawari Meriahkan Acar...
Teropongistana.com: Ghea Indrawari Meriahkan Acar...
Berita BPK PENABUR Jakarta - 12 November 2023
KalderaNews.com: SMAK 5 Penabur Berikan Pendidika...
KalderaNews.com: SMAK 5 Penabur Berikan Pendidika...
Berita BPK PENABUR Jakarta - 04 November 2023
Menjadi Tuan Rumah yang Teladan
Menjadi Tuan Rumah yang Teladan
Berita BPK PENABUR Jakarta - 03 November 2023
Memaknai Escalades Pinishi SMAK 5 PENABUR Jakarta...
Memaknai Escalades Pinishi SMAK 5 PENABUR Jakarta...
Berita BPK PENABUR Jakarta - 11 October 2020
Escalades Tetap Hadir di Tengah Pandemi
Pandemi Corona rupanya tidak menghalangi terselen...
Berita BPK PENABUR Jakarta - 11 October 2020
Jadwal Pelajaran Kelas XII 12-16 Oktober 2020
Berita Lainnya - 20 December 2023
Tuhan Tahu Apa yang Kita Butuhkan dan Mencukupkan
Tuhan Tahu Apa yang Kita Butuhkan dan Mencukupkan
Berita Lainnya - 20 December 2023
Resensi Buku: 7 Prajurit Bapak
Resensi Buku: 7 Prajurit Bapak
Berita Lainnya - 30 December 2023
Resensi Buku: Semusim, dan Semusim Lagi
Resensi Buku: Semusim, dan Semusim Lagi
Berita Lainnya - 22 December 2023
Resensi Buku: Project 333, Sedikit Itu Cukup
Resensi Buku: Project 333, Sedikit Itu Cukup
Berita Lainnya - 18 March 2022
Tips Menyatukan dan Membentuk Komunitas
Tips Menyatukan dan Membentuk Komunitas
Berita Lainnya - 17 March 2022
Keberhasilan Bukanlah Milik Orang Pintar
Keberhasilan Bukanlah Milik Orang Pintar
