The NFT (non-fungible token) market reached a sales volume totaling almost 25 billion dollars in 2021 and with much more to come! Want to understand a little better how the creation and sale of these assets works and how to make money from the sale of NFTs? In this article, we will explain what NFTs are and where to start. Then we will bring you five applications that will assist you in creating your own NFTs and, finally, application tips for you to sell yours.
1. What are NFTs?
First, we need to understand what a non-fungible token means and the difference between it and the fungible token. Fungible, by definition, means something that can be replaced by something else of the same kind, quality, quantity, and value. That is, a money bill, for example, is a fungible asset. If you have one $20.00 bill or two $10.00 bills, you will have the same final value, correct? On the other hand, if you have a property worth 1 million reais and if you have two properties worth 500 thousand reais each, they are not the same thing, they do not necessarily have the same value over time, since each one has its particularities and is many different. They are therefore non-fungible assets. There are two types of categories for fungible and non-fungible assets, which are physical assets and digital assets. See examples below:
Physical: which can be fungible such as the dollar, gold, or casino chips and non-fungible such as works of art, movie tickets, real estate, among others. Digital: these are fungible digital assets such as bitcoin, Ethereum, or airline miles, for example. On the other hand, non-fungible digital assets can be video game skins (the look or clothing), digital works, and others.
With this digital universe wide open today, an image on the internet can be copied and used by anyone. So what drives a person to pay millions for the purchase of an NFT?
2. What makes them so interesting and with such a high market value?
While you can copy an image from the internet – although you shouldn’t – it won’t be yours unless you record it on a blockchain, which works like a ledger that records all virtual currency transactions. It’s understanding how the blockchain works that will help you creating your own NFTs. The Token is the digital certificate that tells the market that that image is yours, registered on the blockchain for eternity. However, once you register your token, you can sell or trade it. And that’s where speculation comes in. Because it is unique and registered, it generates a feeling of scarcity, speculation and interest responsible for the phenomena in sales. And you can succeed with your creation and match the big names in this market of more than 490 million dollars in sales. The Twitter CEO, for example, sold his first tweet for $2.9 million as an NFT. According to certain outlets, the 5 most expensive NFTs of 2021 were: Now that you understand the power of NFTs, why not start creating your own?
3. How to make money with NFTs?
Creating your NTF may be a simple process, but that doesn’t mean the profits will be either. However, there are some ways to make money with these assets, they are: You can choose between the three options above or more than one of them and after choosing, let’s understand how to start and then what are the 5 applications to create your own NFTs so you can start making money!
4. How to get started?
To get started, you don’t need to be an expert on the subject. But there are 4 essential items for you to start creating your NFTs. They are:
Buying a cryptocurrency wallet – pay close attention to this process and choose safe platforms with a good market history. Have a small amount of Ethereum – to pay your NTF expenses you will need an amount in Ethereum (ETH), a type of cryptocurrency. This amount can vary widely, so do your research beforehand to fit the amounts into your budget. Connecting to an NFTs Marketplace – see below the list of 5 suggested applications; A digital art file for your NFT.
That said, let’s get to the list of apps.
5. Applications to create your own NFTs and sell them
Now it’s time to understand a little better the differentials of each application to make your choice and start the process of creating your own NFTs.
#1. Opensea
The most famous in the niche, it has options to register and sell your tokens, in addition to being able to buy them too. There are several types of art in NFT like games, music, and more.
You can access Opensea free of charge through the website and Android or iOS apps, following auctions, price drops, as well as negotiations and offers that they may send you.
#2. Rarible
This marketplace has its own currency, the RARI token, unlike most of the other apps on our list that are based on Ethereum. Both OpenSea and Rarible allow you to create your NFTs on Ethereum without paying anything. This system is called “lazy minting”, releasing the sale of your NFT without charging blockchain fees that will only be paid at the time of purchase, by the buyer. Creating your own NFTs has never been easier!
Rarible is available for Android and iOS and can also be accessed through the website for free.
#3. Talken.io
Talken is a multichain application, that is, with it you can sell and buy NFTs with various cryptocurrencies, such as Ethereum, BSC, HECO and Klatyn. This tool allows you to create NFTs without coding in just one click, selling on any network and with auctions to attract new users.
With renowned investors, Talken bets on decentralization and interoperability. Access and download for free on Android and iOS in addition to the website.
#4. Sketchar
In Sketchar, the artist that lives in you will be able to conquer the world! Develop your creativity through the unique interactive approach of AR design, photo editing, and gamification, creating your own NFTs and selling them too! Also, join the communities of cartoon and NFT enthusiasts.
Available for free on the website, Android and iOS.
# 5. GoArt
Our last app suggestion is GoArt. One of the most interesting features of this app is that, with it, you can transform your photos into NFTs using super creative filters, such as the art filters of Picasso and Van Gogh, for example. Also, you can take a picture from your camera and turn it into NFT, just like that, simple and fast. It works with a coin system to use premium filters and you already earn 30 coins when you sign up for the app. Free platform available for Android and iOS, offers in-app purchases. To close out our article, we remind you that to sell your NFT you will need a marketplace like OpenSea, Axie Infinity, SuperRare among others.
Ready to make money creating your own NFTs?
So tell us in the comments what you think of the 5 apps and if you use any others to create your own NFTs! Share with us whatever you know! And if you are looking for help making money, check these links down below!
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