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 2023
Mengisi Kemerdekaan dengan Menjadi Pribadi yang U...
Berita BPK PENABUR Jakarta - 07 August 2023
Kehendakku Tidak Selalu Kehendak Tuhan
Kehendakku Tidak Selalu Kehendak Tuhan
Berita BPK PENABUR Jakarta - 22 August 2023
SMAK 5 PENABUR Jakarta Goes to Festival Rupiah Be...
SMAK 5 PENABUR Jakarta Goes to Festival Rupiah Be...
Berita BPK PENABUR Jakarta - 25 July 2023
Sekolah Komplek Kelapa Gading Memaknai 73 Tahun B...
Sekolah Komplek Kelapa Gading Memaknai 73 Tahun B...
Berita BPK PENABUR Jakarta - 17 July 2023
Ibadah Awal Tahun Pelajaran: Berpengetahuan yang ...
Ibadah Awal Tahun Pelajaran: Berpengetahuan yang ...
Berita BPK PENABUR Jakarta - 07 August 2020
Jadwal Pelajaran Kelas XI Pekan Penilaian Harian ...
Berita BPK PENABUR Jakarta - 07 August 2020
Jadwal Pelajaran Kelas X Pekan Penilaian Harian 1...
Berita BPK PENABUR Jakarta - 04 June 2020
Alumnus SMAK 5 PENABUR Natalie Francis Raih Beasi...
Berita BPK PENABUR Jakarta - 14 May 2020
Online English Service: Berpengharapan kepada Tuh...
Berita Lainnya - 24 April 2024
Tuhanlah Gembalaku, Ia Menuntun dan Memenuhi Kebu...
Tuhanlah Gembalaku, Ia Menuntun dan Memenuhi Kebu...
Berita Lainnya - 15 April 2024
God is More Interested in Making Your Life Holy t...
God is More Interested in Making Your Life Holy t...
Berita Lainnya - 23 April 2024
God is More Interested in Your Character than You...
God is More Interested in Your Character than You...
Berita Lainnya - 10 November 2023
Menurutku, Penguasaan Diri itu?
Menurutku, Penguasaan Diri itu?
Berita Lainnya - 09 November 2023
Emotional Numbness: Kenapa ya aku merasa seperti ...
Emotional Numbness: Kenapa ya aku merasa seperti ...
Berita Lainnya - 08 November 2023
Bersepatu (Bergantung Sepenuhnya Pada Tuhan)
Bersepatu (Bergantung Sepenuhnya Pada Tuhan)
Berita Lainnya - 17 November 2023
Berbahagialah Manusia yang Ditegur oleh Tuhan dan...
Berbahagialah Manusia yang Ditegur oleh Tuhan dan...
Berita Lainnya - 10 March 2022
Short Story: Dancing After The Storm
Short Story: Dancing After The Storm
Berita Lainnya - 09 March 2022
Juara 1 Peta Leadership Day SMAK 5: Inori Sehasak...
Juara 1 Peta Leadership Day SMAK 5: Inori Sehasak...
Berita Lainnya - 08 March 2022
Dia Tidak Mengingat Dosa Kita Lagi
Dia Tidak Mengingat Dosa Kita Lagi
