What are the processes for setting up an NFT?
This method is easiest for a person who wants to create their own NFT. The latter must follow the following steps:
For the first step, the choice of the object to be converted into NFT is fundamental. For example, you can transform works of art such as paintings, songs, texts and images. These objects must be digital and above all single. The more special (rare) the object in question is, the more valuable it becomes to investors. At this same stage, it should not be forgotten that such a digital object requires copyright before its transformation into an NFT.
After designing the digital object, it is necessary designate the blockchain to be used. This is where you really start building your NFT. The blockchain technology provides several alternatives. Ethereum is one of them. If you have never bought Ether before, know that you can do it in several ways, one of them being through exchanges. However, some of them are not safe at all. Simple and reliable trading platforms, such as Bitcoin evolutionthey offer free registration and automatically connect you to a broker to facilitate the trading process.
Note that the next step is required if you don’t have a digital wallet yet. Doing this is important, as investments in e-money are expected during the NFT creation process. Choose the wallet that can support the cryptocurrency to use.
Having reached this fourth step, you already have your digital object and a digital wallet with the sums to invest. Choose from the platforms that match your NFT market. The platform you choose must support your currency. As soon as you’ve found the NFT platform that’s right for you, sign up and pay the necessary fees. You can now follow the steps suggested by the platform to upload your file. You now have an NFT. You just have to choose how to buy your work.
Why create an NFT?
Creating an NFT is one thing, but it’s present benefits ? To know the answer to this problem, follow the next lines.
Traditional art has always had security issues. Even tables that require very complex techniques can be duplicated. Whatever the author creates, a pirate will always have the means to copy the item. Before the creation of the NFT, older digital works also experienced it. The NFT is above that. An NFT cannot be copied because of him authenticity certificate very evolved. It is even possible to trace the authorship of all owners to affirm the authenticity of the product.
Selling digital products wasn’t always safe. For example, music artists sell their songs on the Internet. However, some people find a way to hack them. Knowing that an NFT cannot suffer such things, authors can live freely off their products. Their items will be, because the buyers are dealers and collectors.
The value of an NFT
Many collectors are present on the Internet. They look for unique products to take them for granted. The fact that the item is rare gives it a lot of value. Furthermore, collectors are sure that it is not a copy due to its traceability. On the other hand, the latter can easily sell the NFT to another collector.
Mohamed Hassan, Pixabay
The author’s profits in case of resale of the product
Even if the author no longer owns the NFT, they still get benefits through a resale. This profit is the commission or percentage of the sale you get after purchasing the digital good. Plus, every sale makes it more and more popular as buyers research the product’s creator.
What benefit does the investor get if he trades the NFT again?
In the field of NFT, both sides always win. The first buyer has the prestige of owning a unique work. This “unique” word adds value to the object. The price of the work will not be the same. The more owners the object changes, the more its value increases. The reason ? Every investor will want to profit from every sale under the guise that it is a valuable item. Here’s how an NFT increases in value over time.
The creation of an NFT is very interesting if the person in question is able to design an object capable of attracting the eyes of collectors. If you have this potential, follow the steps for creating an NFT that have been shared. Furthermore, both artists and investors can make profits by engaging in NFTs.