I am so happy that you have made it this far!
It is a sign that you are really interested in my work of art and that you would like to learn more about the world of NFTs.
Let me try to explain it as simple as possible in the following guideline. At the bottom of this page I will explain how my brand uses NFT's and what benefits you can get from buying one.
An NFT is a “Non-Fungible Token”. “Non-fungible,” means that every token is unique. ”Token” means that it can be transferred on a blockchain.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
Each NFT is encoded with a unique key that makes it distinguishable from all other NFTs. This means we finally have a universal way (at least on planet Earth) to recognize ownership in the digital domain.
Furthermore, an NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptocurrencies.
If you want to get started with NFTs, it’s helpful to understand that they are sold in NFT marketplaces. NFT marketplaces are built on a blockchain, making them different from other online marketplaces. Most NFT marketplaces are decentralized applications, allowing them to be secure and run by the community. Currently, the largest NFT marketplaces are opensea.io, rarible or Foundation.
To be able to interact with NFT marketplaces, you usually have to connect the marketplace to your wallet. Once done, you are able to buy, collect, create or sell NFTs on the marketplace itself. Sometimes, NFTs have auctions where people can bid on them in real time. There are even marketplaces dedicated to specific types of NFTs, like music, comics, collectibles, sports etc.
If you’re keen to start your own NFT collection, you’ll need to acquire some key items:
First, you’ll need to get a digital wallet that allows you to store NFTs and cryptocurrencies. You’ll likely need to purchase some cryptocurrency, like Etherum, depending on what currencies your NFT provider accepts. You can buy crypto using a credit card on platforms like Coinbase, Kraken, eToro and even PayPal and Robinhood now. You’ll then be able to move it from the exchange to your wallet of choice.
NFT art comes in various forms, such as static and dynamic images, music and videos, and more. Additional information related to each NFT can be stored within the NFT’s metadata, giving each asset a unique history.
Many people wonder if buying an NFT is just like purchasing a JPG image online. The answer is no—NFTs are completely different from regular images online. They have unique identities and a trackable history, allowing them to be scarce and carry provenance.
As an example, consider one of the most famous art pieces, the Mona Lisa. At any point, it’s possible to commission an artist to recreate the Mona Lisa. You can even take a picture of the Mona Lisa or order a print to hang up on a wall.
As the original, the real Mona Lisa will always be more valued and sought after than any recreations or printouts - this is due to provenance and originality. NFTs provide a similar uniqueness for digital images that were once only reserved for physical art.
NFTs can act as proof of ownership. This is helpful in categories like art, where provenance is such an important part of the collectability of a piece. NFTs offer further utility over traditional art pieces. NFTs can be traded on online marketplaces or exchanged directly between individuals.
NFTs also provide a variety of specific benefits for artists, such as royalties. NFTs can be programmed with royalty features that reward artists for every sale in specific marketplaces, allowing artists to sometimes even be able to get royalties for secondary marketplace sales if their work is resold–this is one of the biggest attractions of NFTs for artists.
NFTs provide a new way for fans and collectors to support the artists they love. It’s even possible to use NFTs as special tickets, offering exclusive benefits to certain owners. Since the ownership of NFTs is verifiable on the blockchain, they offer a whole new world of possibilities for engaging between creatives, brands and fans.