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 - 13 February 2021
Jadwal Pelajaran Kelas X 15-19 Februari 2021
Berita BPK PENABUR Jakarta - 06 February 2021
Jadwal Pelajaran Kelas XII 8-12 Februari 2021
Berita BPK PENABUR Jakarta - 06 February 2021
Jadwal Pelajaran Kelas XI 8-12 Februari 2021
Berita Lainnya - 30 September 2024
SMAK 5 PENABUR Jakarta Tidak Hanya Unggul Akademi...
SMAK 5 PENABUR Jakarta Tidak Hanya Unggul Akademi...
Berita Lainnya - 30 September 2024
Kristus telah Meneladankan Kesabaran, Kita Ikuti ...
Kristus telah Meneladankan Kesabaran, Kita Ikuti ...
Berita Lainnya - 29 September 2024
Merespon Kehilangan dengan Positif karena Tuhan a...
Merespon Kehilangan dengan Positif karena Tuhan a...
Berita Lainnya - 08 March 2024
Memenangkan Hidup di Dalam Tuhan
Memenangkan Hidup di Dalam Tuhan
Berita Lainnya - 06 March 2024
Kehadiran Tuhan Memberikan Semangat dan Pengharap...
Kehadiran Tuhan Memberikan Semangat dan Pengharap...
Berita Lainnya - 05 March 2024
Our Best Life When We Trust God Completely and ...
Our Best Life When We Trust God Completely and ...
Berita Lainnya - 18 October 2023
Tuhan Memanggil Kita ke Pesta-Nya. Mari Kita Bers...
Tuhan Memanggil Kita ke Pesta-Nya. Mari Kita Bers...
Berita Lainnya - 17 October 2023
Breaks are Vital to Productivity. Work Smart not ...
Breaks are Vital to Productivity. Work Smart not ...
Berita Lainnya - 16 October 2023
Tegurlah Sesama dengan Penuh Kemurnian
Tegurlah Sesama dengan Penuh Kemurnian
Berita Lainnya - 13 October 2023
Usai Menghadapi Badai, Kita kan Dapati Diri yang ...
Usai Menghadapi Badai, Kita kan Dapati Diri yang ...
Berita Lainnya - 10 February 2022
Bedah Buku: 88 Cerita Rakyat Terindah dari Negeri...
Bedah Buku: 88 Cerita Rakyat Terindah dari Negeri...
Berita Lainnya - 02 February 2022
Menemukan Darma dalam Banjir Informasi
Menemukan Darma dalam Banjir Informasi
Berita Lainnya - 28 January 2022
Analisis Cerpen Uang Logam Pak Trusty
Analisis Cerpen Uang Logam Pak Trusty
Berita Lainnya - 20 January 2022
Bedah Buku: Beauty and the Beast
Bedah Buku: Beauty and the Beast
