An Introduction to NFTs, A Beginners Guide to NFT’s, What is an NFT?
The Non-Fungible Token, or NFT, is a proof of ownership thing. To better understand what I mean, consider a piece of art like the Mona Lisa. Why is it better to own the original as opposed to a copy you can buy at Walmart? The value is in the fact we know it to be the original, unique, and actual Mona Lisa, as opposed to a copy. The Non-Fungible Token allows artists to securely own their piece of work and transfer ownership of that work securely in a tokenized format. This opens up many possible options for artists, musicians, and all sorts of creators. NFT’s allow creators to own their work and to keep track of their pieces as they are sold and traded on a blockchain.
Musicians and Full Digital Music Ownership through NFT’s
If you are a musician with your music up on different platforms, then you might know the frustration that is accompanied by trying to monetize your music on different platforms. Platforms such as Youtube, Spotify, and Soundcloud all take a cut from your profits. If you have asked yourself, “how can I profit from NFT’s” then this a huge way that you can make full profits from your original work. You can put your music on a blockchain and have your fans buy directly from you with no profits taken from other platforms. Your fans will know they have an original copy of your work, and you are able to see who your faithful fans are. Through an NFT creation, you are also able to add unlockable content for your faithful fans whether that unlockable content is a physical good, or digital.
Authors, Making an NFT Book, PDF and Book NFT’s
If you are an author, creating an NFT from your book is a great way to keep all your profits, as opposed to allowing publishers and other platforms to take a cut from your hard work. Through the creation of a Non-Fungible Token, you are able to sell your work to your fans and include unlockable content for anyone who buys from you. As a writer it is important to be able to understand who your fans are so that you are able to continue creating the content that they love. By creating your work as an NFT, you are able to track who bought your book NFT and as already noted, also provide your buyers with additional goodies for being a loyal fan. The beauty of it all, is that because NFT’s are stored on a blockchain, you know that the information regarding your book sales is accurate and the proof of ownership is written on an immutable ledger called a blockchain.
What Blockchain Should I Create an NFT On? NFT Platforms for your Art and Creations
As the world of NFT’s continues to develop, we will be seeing the digitization of many artifacts. Artists, musicians, writers, and a topic not mentioned in this blog, games, will all see an explosion of true ownership NFT’s that will allow gamers to truly own their in-game purchases. With this being said, the next thing to mention is the platforms that currently allow NFT creation. A quick place to create and sell your NFT would be OpenSea. OpenSea allows you to create an account for free and upload your creation and sell it on their marketplace. The only thing is you. must have an Ethereum wallet and there is a gas price for creating your NFT. The Tron blockchain recently released their NFT standard and have partnered with MixMarvel to help creators bring their work to life. Tron blockchain is a platform that aims to decentralize the internet and with zero-fee transactions will allow creating NFT’s to truly become mainstream and accessible to all.