What is an NFT & How do I make money from selling my art as a NFT?
You have stumbled across this article as an artist, graphic designer & you are currently freelancing trying to find a way to live off art you make… Or maybe you are an investor trying to learn about what Crypto Art is as you have seen people talking about it ; seen the recent stats.
Well, however you came up on this article & regardless of who you are — I will explain to you the growing trillion dollar industry of art meeting with the upcoming trillion dollar industry of crypto currency ; how you can get started today!
What is an NFT & why is it valuable?
An NFT ( Non-Fungible Token ) is a special token representing a unique ID that cannot be replicated, they are used to create verified digital ownership and are used in applications that offer Crypto Art, Crypto Gaming, Crypto Collectibles & more. The NFT is tokenized or minted which means it is put onto something called a Blockchain, a Blockchain is a permanent ledger that is accessible on computers globally.
So a question you may have asked yourself before reading this article, such as “Why can’t people just download the image?” — the short answer is, they can. They can download the image and have the file saved on their computer forever. However, that same piece they have downloaded, is not worth anything compared to the 1/1 NFT you sold to someone for $2,000+ because it is not original nor worth the same value.
You can go online and buy a painting that Pablo Picasso or Vincent Van Gogh made for less then $50, however that is not near the same value of what it is worth (millions) because its not the original copy. So when you upload an NFT to a platform, the value is 100x more then when someone can download your image. (If you are not an artist, you can skip the next question)
Where can I sell my NFT’s & How do I get started?
There is a variety of platforms in the recent year / years that allow you to sell NFT’s (SuperRare, Rarible, KnownOrigin) & you need a wallet for them — because this is crypto art, not just art. You can make a Coinbase Wallet online and connect through MetaMask or Fortmatic to the site you wish to use & then make sure to buy some ETH (Ethereum) through Coinbase. As you need some starting crypto money for gas fees when you tokenize / mint an artwork that puts the piece on the Blockchain. Keep in mind, you’ll receive money in crypto such as Ethereum which can be traded into your normal currency (USD, GBP).
So, where do you start? — For this post, I’ll be talking about Rarible. Once you have your wallet setup you can go over to Rarible & connect through the choices they offer such as MetaMask or Fortmatic. Rarible is a decentralised organisation meaning everyone has a say & I’ll get into what that means in a minute. Once you have your Rarible account made, you will be able to create a collectible which is shown on the top right and be given the choice of creating a single or multiple post. If you want to make it 1/1 or ?/?, you can choose ; then go onto uploading your artwork on here and setting the price. If you are stuck on what to do, you can ask for help in their discord & you can find the link on their twitter.
Original Article by: Loopify
Image by: Boitumelo Phetla