NFTs are Another Digital Transformation In Future?
NFTs are changing our world by how we communicate with one another and transmit information. For consumers, it can be a great way to keep something very personal and special from your favorite content creators. However, physical money and cryptocurrencies are fungible meaning that it can be traded or exchanged for one another. Some of examples of the assets that NFTs can represent include in game items like avatars, digital and non-digital collectibles, domain names and event tickets. Due to the fact that NFTs are a type of crypto asset that exploded in popularity and use its technology to record who owns a digital file from image to video or piece of text. In fact NFTs allow people to prove ownership of digital assets so owners can also programme royalties for themselves into the metadata before selling on, to receive a percentage of future sales. For the case of minting NFT refers to converting digital files into crypto collections or digital assets stored on the blockchain. In fact the digital items or files will be stored in a decentralized database or distributed ledger and cannot be edited, modified or deleted. The ways to mint NFTs are the following below
• Connect your wallet so to get started you will first need to open a crypto wallet and then connect it to the NFT Marketplace
• Create your first item
• Make sure your wallet is funded
• List your NFT for sale
• Manage your NFT business
The following are the some of primary things that will ensure people buy NFT
• Quality, the number one factor in selling an NFT collection is the quality of the product. This is often related to the art itself. Whether you are creating the art yourself or you are a developer who is hiring an artist to create content for you, keep the importance of quality in mind.
• Community, building a huge community using resources such as Twitter, Telegram, and Discord is crucial. When using the Internet Computer, other community-building resources such as DSCVR and Distrikt become available to you.
• Contests, many scour social media looking for contests to enter. So be sure to use this marketing tool to grow your community and get your project out there. Again, the Internet Computer will help because it will cost you almost nothing to send airdrops when the time comes to do so.
• Transparency, keep everything on the level. It doesn’t mean you have to dox yourself or your team. Just be sure to let the community know things like whether some rare NFTs in the collection will not be available in the public mint because they are being provided as rewards to team members. Finding out about things like this later could break the community’s trust in the project.
• Fun, if your project is fun that will make people want to buy. For example, ICDinos had the great idea to have their NFTs mint as eggs. While the eggs are all unique, there is no rarity to them. Instead, they are just fun artwork to enjoy until they can be hatched about two weeks after mint. This adds both fun and excitement to the project by building anticipation.
• Marketing, you want to be able to market your own project well, but it doesn’t hurt to have help. For example on the Internet Computer then Dfinity Community operates a massive community with tens of thousands of followers on social media channels and many thousands who read our daily newsletter and blog. An article, AMA, Twitter post, contest, or even just a shoutout can introduce your project to thousands of potential collectors instantly. Let’s consider one more essential element to selling NFT collections that are not just pure art for art’s sake like utility. This goes back to what I was discussing earlier about the use cases for NFTs. You don’t have to create a roadmap for an art collection, but let collectors know if there is any utility besides just owning the art. Here are a few examples using NFT collections that currently exist on the Internet Computer.
• Mint pass, you can use an NFT as a mint pass for future collections. For example, anyone who held a BTC Flower in their wallet at the time of the snapshot last week is guaranteed an airdrop of an ETH Flower later this month. ICP Flower will also be available later this year as an airdrop for those who meet the snapshot requirements. Additionally, BTC Flower holders will automatically be whitelisted for a presale of other collaborations and artworks in the future. So holding one serves as an all-access pass for certain airdrops and private sales.
• Perks, use Internet Astronauts as the example here. The first perk from holding astros that has become a reality is the colorful writing in the IASC DSCVR portal. Of course, the team may collaborate with other projects in the future to expand where colorful writing may appear. They are also working with other projects to obtain perks, such as airdrops of tokens for holders.
• Gaming, ICmojis are actually characters that can be used in the ICmoji Origins game to compete in weekly contests for prizes. The upcoming ICmoji Legends characters will be used alongside the original collection in their upcoming Adventures game. On the other hand, ICSnakes is the game in itself, with each NFT being playable.
• Gated communities, you have to hold a Motoko to interact with posts on the MotokoDropClub portal on DSCVR, and many other projects are following suit to carve out exclusive content for holders.
• Staking, projects like ICPCS are setting up ways to stake NFTs to earn tokens. The cumulative rarity of your NFTs determines the part of the rewards pool you receive from staking your NFTs rather than selling them. This is one way to discourage the community from reselling their NFTs cheap. Earning opportunities at ICPSquad, we want our avatar NFTs to be more than just a profile picture. They are designed to help you play our engage-to-earn game with a future dashboard that will allow you to earn rewards simply by interacting with the Internet Computer in ways that you normally would anyway. Just collect or mint accessories and wear them, and you’ll gain an even higher chance of earning some of our daily reward drops.
• Land ownership, projects like ICPBunny is exploring the value of land ownership in the metaverse with their Bunny Island project. Other NFTs are intended to serve as avatars in the metaverse. ICGallery’s Moonwalkers are a perfect example of this. So you can see that there are so many use cases for NFTs and that projects are already exploring many of them. We hope this article helped you understand more about how to create and sell your NFT art. Remember to subscribe to our daily newsletter so you can get these articles in your email, and you never have to worry about missing the latest community news.
The sources including Why ICP Squad NFTs Are Game-Changer For Internet Computer Dapps (dfinitycommunity.com), Squad (ic0.app), A Complete Guide to Minting NFTs (Using OpenSea as an Example) | The Motley Fool, What Is An NFT? How Do NFTs Work? — Forbes Advisor INDIA, 4 Ways to Write a Better Description to Entice Buyers to Learn About Your NFT | by NFTb | NFTb, 8 Best NFT Ideas and Examples — Knowledge Hub for Business Management and Technology Professionals (projectpractical.com), What’s the Future of Art NFTs? 5 Predictions For What Lies Ahead | Nasdaq, Non-Fungible Token Definition: Understanding NFTs (investopedia.com)