The buzzword in the tech industry is certainly ‘NFT,’ which is transforming every segment from sports, art, and finance to games. The advent of cryptocurrencies has grown tremendously over the years and paved the way for Non-Fungible Tokens or more popularly known as NFTs.
The fundamental principle of cryptocurrencies and NFTs is the same as both works on blockchain networks where the information is encrypted, making it authentic and secure. Today, you can not only trade in cryptocurrencies but also NFTs.
Just to give a short brief, the concept of NFTs went viral when Jack Dorsey tweeted for the first time, and his tweet was sold for $2.9 million as an NFT. Apart from the tweet, a single jpeg image, ‘Every day's: The First 5000 Days,’ was sold for a staggering $69 million, and sports associations such as NBA are selling little moments of games for hundreds of thousand million.
Why so much Buzz around NFT?
The one question many people ask is why pay such an enormous amount of money for digital artwork or sporting when you can look at it for free. With all the rapid pace of technology, it’s a given fact that the way we see and value things is constantly changing.
In simple terms, non-fungible means nonreplaceable or not interchangeable. An NFT, whether a digital artwork or a virtual gaming character, means that it is only one, and you cannot replace it. For example, one dollar or one bitcoin both have a certain value, but a digital art you make will be different than a digital art made by some other person. A Mona Lisa painting is non-fungible as only one exists, there may be dozens of fakes and copies, but Leonardo da Vinci made the original.
You all know that non-fungible items tend to have more value than fungible items. NFTs are the best thing that ever happened for artists, content creators, fashion designers, writers, developers, and even celebrities.
How as an Artist you can make Money through NFTs
If you are a talented and ambitious artist with splendid digital art pieces, you can mint them as NFT and make a fortune. However, the NFT marketplace has grown tremendously in recent times, and it can be challenging to get attention for your digital artwork.
A purposeful and well-articulated strategy can help you get the best results and returns for your NFTs. The first step is mining your digital art on the blockchain.
For beginners, an NFT for your digital artwork will represent certain key information, such as
- Token name and symbol
- Distinct fingerprint
The digital token that is generated on the blockchain network can represent anything from a Gif, PNG, Jpeg, Mp3, or Mp4 and can be placed on the market for sale.
The steps you need to take to make an NFT token for your artwork are
- Register on Marketplace
The NFTs can only be traded using cryptocurrency, so first, you need to link your cryptocurrency account. The best option is to make a digital wallet. Also, you need to make payment from the wallet for minting your artwork.
- Uploading your file
Next, you need to upload the digital file, which can be an image, to a storage service called IPFS (Interplanetary File System
- Minting the NFT
The crucial part is mapping a token on that digital file that will represent an authentic cryptographic signature that cannot be tampered with. You will become one true owner of that NFT token
- Listing the NFT on sale
You have the discretion to set a particular selling price and duration of the sale.
The Reasons to Take Help of NFT Marketer
Once you are done with the basic steps, then it is time to get the best NFT marketer who can use certain tactics to promote your NFT artwork. The NFT market is growing rapidly, and individuals need to understand how they can mint their artwork or collectibles and start trading them.
An expert NFT marketer can make you understand the trends and metrics that will help you make an informed decision. The key is to examine the NFT sales to determine the best marketplaces, networks, and launchpads.
You need to have a list of your digital artwork that you can mint as tokens and represent them as your collection that potential buyers will want to buy. It is essential to add certain stories or information to boost your artwork to the relevant audience.
Having an NFT roadmap allows you to list all your artwork and even current projects which the audience may be interested in following and make a decision. Experts suggest becoming a part of the NFT community that will open new doors of recognition.
The NFT community is an important platform that you can use to give announcements and updates about your NFT artwork. You can even have a question/answer session with the members. The NFT community will always grow and give tremendous opportunities to market your NFTs through events, contests, and giveaways.
The NFT platforms are the marketplaces where the buying and selling of NFT occur. You need to identify the best platforms where you can list your artwork. Some popular NFT marketplaces are OpenSea, MarkersPlace, Rarible, and Crypto.com.
As an artist, you may already have the creative skills to entice and engage the audience. You can use creativity to make a short teaser of your artwork project. Next, you can use the teaser and share it on social media platforms and the NFT marketplace. You can even partner with famous influencers who can make your project known within days and reduce your effort and time.
In today’s fast-paced world, nothing is successful without proper advertising. The success of your NFT artwork depends on the quality of your art and it’s an advertisement. Using an expert NFT marketer will not only help to make a buzz for your digital artwork but add value to your NFT project. Fortunately, digital technology makes it fairly easy to use strategies such as social media and content marketing to turn your art into a brand.
NFT is still considered a niche in blockchain technology, so you need to know and use relevant tools to engage the audience for your valuable digital artworks.