Is the NFT market the next Apple?
Non-fungible tokens (NFTs) have been a hot topic lately, as the potential market for NFTs has been estimated to be worth between $7 trillion and $25 trillion.
It's a digital certificate of ownership that lives on the blockchain (a type of digital ledger). Each NFT is unique, which means it can't be replaced by another one.
NFTs are the perfect way to ensure that your art is yours—and only yours. They're also a great way to make sure that you get paid for all of your hard work and creativity. As artists and entrepreneurs are realizing that they can sell their digital goods as NFTs, many are wondering how to make a quality NFT. While there is no one answer, it's important to understand the process.
When it comes to designing an NFT, there are four main categories: sound/music, visual art, text/writing, and video. The design is created offline and then uploaded to a market on a blockchain. There are several blockchains that support NFTs, including Ethereum and Flow. For our purposes, we'll in this article be focusing on the creation process on Ethereum.
How you to make and sell NFTs in just three steps:
1. Design your piece of art.
2. Create the metadata file that associates your art with its unique ID number.
3. Upload both the design file and its metadata file to an NFT marketplace and wait for someone to buy it!
But each of the steps is a great world in itself.
The first step in creating an NFT is to find an artist who creates digital images that you think will be appealing to buyers. You can search for artists on popular websites. Once you've found an artist, talk to them about your idea for a non-fungible token (NFT). If the artist agrees, then he/she will create an image of your product or service that can be used as an NFT.
Once you've made your masterpiece, you'll need to convert it into a “non-fungible token”. But if you don't know how to do that yourself, there are plenty of services online that will help you convert your design into an NFT token.
Once you have an NFT created in the form of code (usually in the form of a .sol file), you'll need to upload it to a marketplace, they live on the blockchain, there's no way for someone else to make or sell an exact replica—so every piece of art sold as an NFT is truly one-of-a-kind.
Is there a market to sell NFT?
NFTs are created by artists who sell them as tokens on a blockchain. Once purchased, these tokens will have their own unique code which cannot be copied or shared by anyone else – meaning that whoever owns them can only use them themselves!
Some companies are using NFTs as an easy way to sell digital goods without having any physical presence at all – such as selling game licenses on Steam Wallet or concert tickets through Ticketmaster. Others might want more control over their product and how it’s distributed, so they’ll create an NFT with their own rules about who can buy it.
It's also worth noting that there's no guarantee that anyone will buy your NFT once it's created. In fact, even the most famous digital artworks aren't guaranteed huge sales. That said, there is definitely money in this area—and we'll likely see more and more people making a living from it as we move forward into this digital future!
On February 22, 2022, The New York Stock Exchange as just filed a trademark application, which points to a possible future NFT market. Now we're the beginning NFT marketplace, for you, it is a future value market in which you would enter.