NFTs are all the rage. Some think of these as a fleeting fad, but NFTs are much more! So unleash the artist in you and join the NFT league.
We offer you the platform and all the skills to create your NFT. You don’t need techie stuff to create your NFT art. Anyone can do it!
Pick your item, top up your crypto wallet, upload your file, connect to a marketplace, and you are almost there!
Join us as we help you create the best art NFTs ever! Turn your art into an awesome NFT.
Check out the homepage sections for all details.
Contents
What is an NFT?
NFT stands for Non-fungible tokens. Non-fungible implies they cannot be replaced or interchanged. Essentially, NFTs refer to a cryptographic asset residing on a blockchain, representing a unique digital item, say, an in-game collectible or a picture, that cannot be replaced for other assets due to its attributes.
Any NFT has an identification code and metadata, which impart its uniqueness. Metadata refers to a description of the NFT that the users on the blockchain use to buy or sell digital assets. NFTs make the asset similar to a physical item by offering uniqueness, ownership, and scarcity traits.
Though the major attraction of NFTs is regarding the art, games, or collectible items, other use cases are emerging, too. For example, some NFTs relating to the tokenization of patents, loyalty programs, or real-life objects are also seen. In addition, newer applications of NFTs based on Decentralized Finance (DeFi) include staking, farming, or lending and borrowing them.
NFTs offer a great stage for people to portray their creativity. Everyone cannot be as talented as Van Gogh or Michaelangelo. However, for those with some creativity or for budding artists with great ideas, NFTs are worth giving a try. NFTs help artists monetize their art without the need for any intermediaries or agents. Blockchain is a relatively safer platform for artists to showcase their work as a non-fungible token.
NFT Art
NFT art garnered significant attention as the Beeple Art and CryptoPunks took the world by storm. Owning an NFT is more of a prestige and status symbol than even residing in a palatial house. NFTs seem to reflect one’s digital status. People globally are replacing their profile pictures on social media with NFTs. The days are not far when these blockchain innovations will be used as a source of identity proof.
Though NFTs, whose prices range in millions, are a passion for the elite, opulent, and niche class, the craze is only soaring higher. NFTs seem to be an expensive toy, only that the wealthy and some crypto-enthusiasts can afford!
On the flip side, NFTs have also found their utility in the gaming arena. CryptoKitties and Axie Infinity are just a couple of examples of the plethora of games that use NFTs. In addition, people are spending huge amounts of money on feeding and breeding their virtual in-game characters, which are NFTs. In fact, there are places where NFTs are recognized as a valid source of income.
Software licensing and authentication are other aspects where NFTs have an edge. That said, companies and individuals could use them to buy software licenses, thereby cutting down costs without compromising on security and privacy.
NFT art holds immense potential, and we at iMintify help you unlock it. Do you want to create your own NFT Art? Get in touch with our NFT artist to get started.
NFT Smart Contract
Now that you know what NFTs are, aren’t you curious about what drives them? Smart contracts.
Smart contracts are automated agreements between the creator and the recipient. As in software programs, these are blocks of code built on the blockchain. They execute automatically when certain specific criteria are met. They are essentially “if-else” clauses used in programming to achieve results with certain specific conditions. Smart contracts are used to execute automatically when a conclusion is reached between the parties based on the clauses in the code. Once confirmation is received, the smart contracts execute automatically without the need for any intermediaries.
For example, if a customer transfers money to a freelancer, no bank is needed to approve it. Instead, the smart contracts will verify and execute the transaction automatically.
NFTs, primarily built on the Ethereum blockchain, operate based on these smart contracts.
Smart contracts can be coded in numerous ways to achieve desired outcomes. We also offer services for creating an NFT Smart Contact. One such example is that of Royalties. Say you created a picture that is an NFT on the Ethereum blockchain. Someone purchases it and sells it to another, and on and on. The smart contract makes sure that your credentials (unique code) always reside on the NFT (on the back-end), and no one can claim themselves to be the creators. So, you will ever remain the creator of your NFT.
Besides, smart contracts avoid the need for any intermediaries in these transactions. You don’t have to find an agent to sell your artwork. Smart contracts do it for you! Additionally, if smart contracts are programmed for royalties, you would automatically receive a specific amount of royalty (based on the code) each time a buyer buys your masterpiece! This amount goes into your crypto wallet.
This is just a small example. Smart contracts are the powerhouse driving NFTs.
NFT Minting Website
Everyone who knows NFTs would agree that their primary feature is – uniqueness.
Imagine an art for which the creator wants to create multiple copies, with minor variations, though. In the case of NFTs, you will have to decide how many copies of the NFT will reside on the blockchain. This number is fixed, and NFTs cannot be modified once created.
The process of turning a digital item into an asset on the blockchain is called minting. In other words, you mint your NFT from your digital art. Once minted, NFTs become secure and tamper-proof. They can then be bought or sold over the blockchain network. In essence, NFTs have no value without minting. It’s the process of minting that turns a digital file (.png/.jpeg) with specific data (description, attributes) into a non-fungible token.
A royalty clause could be included when minting a token, which ensures that each time someone buys the NFT, a specific amount goes to the creator’s crypto wallet. This offers an option to earn passive income for the NFT artists.
Hey, so you are ready with your masterpiece and want to make an NFT out of it? Well, that’s what minting NFTs is all about. It refers to the steps you need to follow to turn your artwork into an NFT. To mint NFTs, you need to have an NFT minting website.
Create NFT Minting website. We at iMintify.com offer you the simplest way to build your NFT minting website. No coding is required. You don’t need any technical stuff.
Just follow our step-by-step wizard, and off you go!
NFT Marketplace
Once the NFT is minted, the next step is to choose a marketplace to put the artwork for sale.
NFT marketplace is essentially a platform where NFTs are traded and marketed. Various marketplaces differ in their attributes, such as supported file formats, blockchain types, price to mint an NFT, and more. Most marketplaces are built on Ethereum blockchain, though other ecosystems, such as Binance, Cosmos, etc., also offer their NFT marketplaces.
Each marketplace comes with its own set of benefits and drawbacks. While some support more file formats, others are cheaper. Some are easy to use, while some have a complicated UI. Besides, there are curated and non-curated marketplaces. Non-curated are those which are free for all. Users can upload their NFTs by registering and paying the transaction fee to mint the token.
Some commonly used NFT marketplaces are Opensea on Ethereum, BNB on Binance, and Solsea on Solana.
By skimming through the below steps, you may have a high-level overview of how to put your NFT for sale on the marketplace.
- Go to the NFT marketplace, such as Opensea.
- Click the ‘Sell’ option on the NFT description page.
- Mention details of the sale, such as fixed-price or a scheduled auction. The marketplace will let you know the fees for selling, if any.
- The marketplace will compute the gas fee and request payment, which you can do from your crypto wallet.
Once you confirm and approve the final terms, your NFT will be listed and available for purchase on the marketplace. Want to create your own NFT Marketplace? We have a visual builder that makes it possible to create your own Marketplace without writing any code.
Discover and reimagine your taste for art. Join us. We offer you the best toolkit to create your NFTs.
Who knows, your NFT could be the next iconic sale – surpassing Winkelmann’s US$69 million!
Trust us. You are onto something big!
