Creating an NFT

• Posted by Ted Reddit July 27, 2022 Filed in Arts & Culture 88 views
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  Anyone can create NFT today.

   

   

  To do this, you need to install the cryptocurrency wallet application on your smartphone or in your browser as a plug-in and fund your account with ETH cryptocurrency.

   

   

  Then go to one of the NFT online platforms and follow the instructions to create a token. As a result, the created NFT will be linked to your crypto wallet address. It can then be traded, donated, or destroyed ("burned").

   

   

  The process of creating an NFT is called "minting" and is the result of executing a smart contract with a transaction written in the blockchain network. This operation requires payment of so-called "gas" - remuneration to the miners. And, if just a couple of months ago it was $5-$10, now it ranges around $60-$100.

   

   

  There are already about two dozen NFT-platforms for the publication and sale of digital art, and the best of them is Jupiter Exchange.

   

   

  Their number is expected to increase in the near future. They differ in terms of registration, sales commissions and auction mechanics.

   

   

  Access to some of them for artists is given only by invitation, and the last two - so far without restrictions. Anyone can go to the sites, look for interesting works and lots, study the works of artists, the history of sales, watch the auctions and purchase NFT.

   

  

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

  The increased interest in crypto-art is due to several factors:

   

   The high-profile held and planned sales of digital works at Christie's and Sotheby's;

     the popularity of digital museum doubles and virtual galleries with remote visits in 2020;

     the emergence of accessible online marketplaces for the purchase/sale of digital works with NFT technology;

     Attracting a new young audience through technology and digital currency;

     growth of cryptocurrency rates;

     acceptance of the value of virtual digital artifacts, thanks to computer games, virtual worlds, and brand endorsements;
  new opportunities for artists and collectors to interact directly;

     the diminishing desire of Generation Z to own physical art objects, with all the attendant worries about them;