Table of Contents
The creation of an NFT is based on two elements that are involved in both the creative process and the characteristics that will determine the type of NFT.
The blockchain on which the digital asset is to be built. It is usually done on the Ethereum blockchain (ERC-721 token) although others such as the ERC-1155 token are currently beginning to be used. Smart contracts will allow adding metadata that defines the characteristics of the asset. This goes beyond prices and reaches issues such as authorship, ownership, traceability, etc.
Therefore, the result when creating an NFT is that of a unique digital asset, which is based on a token and which will have a series of characteristics defined by the smart contract. Thanks to the above, and like any cryptocurrency, throughout its life and transactions, it will have controlled traceability and ownership.
An NFT is a “Non-Fungible Token“. It is a digital asset that takes on a unique character, which is created from a token on the chain of blocks, using smart contracts to give it its unique personality. Not fungible means precisely that it is something unique and therefore cannot be exchanged.
It comes to be considered as a model of a digital work of art, which can be collected and increase in value according to demand and the passage of time. It is a model of growing digital assets, being a sector that still has a lot of room for business growth.
When creating an NFT, you can go to the existing platforms for this purpose on the Internet. On these platforms, what can be done is upload a digital file and, through an intelligent contract, proceed to create the NFT.
It is a relatively simple process, which, in some cases depending on the platform, may be free, and in other cases may have a certain cost. On the same platforms where NFTs can be created, it is possible to access their purchase, sale, and auction.
To buy this type of asset it is necessary, initially, to have Ethereum. Also in case of purchase, the storage of NFTs must be done in digital wallets compatible with Ethereum. Some of the NFT creation and trading platforms are:
Train yourself in the crypto world and learn to invest with common sense. Learn the fundamentals of cryptocurrencies and investment strategies. As a bonus, there is a video about NFTs.
How2Invest is a tool that can give you inside information and professional money advice. Like…
With the digital marketplace expanding rapidly, robust search engine optimization (SEO) strategies become crucial for…
The industry of gaming has become a global powerhouse with millions of users across the…
In the shifting sands of healthcare, the stalwart of patient outcomes often rests on the…
Key Takeaways The evolving role of HR is critical in aligning workplace practices with broader…
Everyone wants Instagram followers, likes, and views since they represent your popularity and whether your…