NFTs. What they are, how to create them, how to earn money with this technology

This is a term that is increasingly entering our vocabulary, we are talking about NFT (Non Fungible Token).

But what exactly is an NFT and what are the earning and investment opportunities that it can bring?

Let's find out.

Definition of NFT

As already indicated, NFT is the acronym for non Fungible token , which literally translated means non-copyable token. Why not copyable? Because it is something unique, not replaceable with others or replicable.

Unlike cryptocurrencies, another very popular term in this period, the NFT is therefore a "virtual" asset that represents the digital equivalent of a work of art.

An NFT can in fact be a work of art, a piece of music, a game or a certain character or accessory thereof or anything that can be collected and/or exchanged. The criterion underlying an NFT is that of its authenticity, linked to the fact that it is impossible to replicate.

What are NFTs based on?

Now that we understand what NFTs are, to fully understand them, we must also understand blockchain technology. This is in fact the "network" on which NFTs move, and in which they are tracked and managed. The blockchain is a block chain, a digital register in which all movements and exchanges between users are indicated and recorded. This registry is safe precisely because it is widespread. Through it the ownership of this object is safe and guaranteed.

Therefore, blockchain is an indispensable and fundamental step for the correct functioning of NFTs.

What is NFT Art?

As can easily be understood, the criteria and possibilities on which NFTs are based have created a virtual art market, which competes with the "real" one in terms of possibilities and turnover volumes. So NFT Art becomes virtual art or art on the web and is the object of collecting, auctions and buying and selling.

NFT Art began shortly after the advent of NFTs, with some cases of value, which have reached their maximum to date with Everydays: the first 5,000 days , a digital work that was sold for the astronomical figure of 69 million of dollars.

But NFT Art not only includes actual works of art such as photographs or drawings, but also content that has proven to be historical or informatively interesting. Among the various NFTs we find the first Twitter tweet, the first SMS and many other software and social network "firsts".

NTF Art has consequently become a business open to many. On the one hand with musical and non-musical artists, who have delegated the digitization and conversion of their works to third-party companies or specialists.

How is NFT Art created? Is there an NFT Market?

The next question that many ask is therefore: how to enter the ETF metaverse? Entering the world of NFT Art is really simple, since the barrier to entry is minimal, if any.

It all starts with a file (Audio, video, image) that we can create with one of the many free software (online or offline) available to users. With the file in our possession, the next step will be to certify its uniqueness via the Blockchain.

Here comes generic platforms that can help in this phase, among which the most famous currently are OpenSea, Mintable or Rarible.

These three platforms, but also many others, allow the management of the NFT in every aspect, but the NFT Art once created can also be sold via more traditional platforms, such as the eBay or Amazon marketplaces.

The creation of the NFT is not free, but it is a minimal investment, which serves to pay for the validation and verification process. This expense can be paid through various cryptocurrencies, actual coins which will then be used for the possible sales phase.

Sell ​​the NTF Art

Like any object on the market, real or virtual, NTF Art has a value that obviously depends on the interest and offer of buyers.

Therefore, a more well-known brand or name will have greater possibilities, especially at the beginning, than someone who starts from scratch.

The NTF market, however, is very "democratic" and there are already countless cases of producers and sellers of NTF Art who have achieved considerable success despite starting from "unknowns"

The NTF Market system and the entire NTF metaverse is based on a dedicated payment system, known as MetaMask. This service, also available as an application for Android and Apple, allows you to trade NTF at a minimum cost, considered on a fixed monthly basis or as a percentage based on the value of the transaction.

Then to sell we will have to connect our wallet or crypto currency to the site on which we display our NFT Art, in a process that will then closely resemble the classic one of auction houses.

Getting Rich with NFT Art

As explained previously, the NTF Market is a new world, where the possibilities are endless. Despite this, we must always consider that it is an evolving market and that it is based on the classic principles of trade. Therefore, to obtain value, our NFT Art will have to impress our possible buyer. We will therefore have to use our imagination and inventiveness to create something worth collecting, perhaps also hoping that our work will be purchased or cited by some "famous" user or platform, in order to make the most of that word of mouth which has always been fundamental in any economic transaction.

Uninventive? Become an art dealer

An alternative activity or one that can be performed at the same time as the creation of NFTs is that of the "art dealer". If we don't feel led to create something or we prefer to act on the keys of commerce or collecting, we can still focus on the NFT Market for our earning possibilities.

In fact, nothing will prevent us, as with traditional works of art, from investing in NFTs that we can collect or market, taking advantage of the security of the Blockchain network for our transactions.

That of NFTs and NFT Art is a new world, still in its infancy but which for this very reason can prove extremely interesting and profitable. Why not try?