NFT (Non Fungible Token) Hype and What They Are All About & a Witty Donation
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dynamicrypto71 • 2 hours ago (Edited)
16 MIN READ3018 WORDS
(90% of post rewards beneficiary @enginewitty please also consider supporting this Hive Community post as his home recently burned down)
(10% of post rewards beneficiary @kolus290 who wrote the NFT article and agreed to give majority of rewards to help Witty)
Can we make a lot of money with NFT's?
image source @dynamicrypto edited
Nowadays NFT's are creating many millionaires all over the world and that is something that without a doubt we have to take into account.
The investment in NFT's is something complex and sometimes is very difficult to understand which is why I decided to make a detailed guide on how to start in this world of NFT's.
Just before I start I want to say that this world of NFT's can be very juicy guys, besides selling them, we can also stake them for dividends and that is something that has caught my attention a lot.
Many companies of all types of the sector are betting on this type of technology for the success of their future, even much greater, this technology in a nutshell allows you too in simple words have a digital asset work for you.
The smooth monkey was a work of art by Leonardo da Vinci
and there is only a single work of art by that artist, in the case of the NFT the same thing can happen, let's take as an example a pixelated work that we have created and in this work we do something called "MINT" when we do this we are saying that this is a work made only by us and there is no other like it depending on how many we mint.
How does this new technology work?
To explain very well how this technology works I will tell you the following, this works very easy and is very simple to understand, we only have to be creative and have a lot of imagination.
When this happens the only thing we have to do is to put a "MINT" so that our work can not be cloned, after that we place a METADATA so that our work has a value within a certain blockchain. The use of the "MINT" in the NFT's is so that our artwork is unique and unrepeatable.
This NFT's can be very profitable and make us earn a lot of money, but we always have to take into account the promotion of such NFT's and always keep in mind that if we make a good artwork we can get to earn hundreds of thousands of dollars with our artwork guys, I highly recommend staying active in decentralized social networks and thus become decentralized influencers.
This article was written by @kolus290 a Venezuelan early in his Web 3 Journey, if you enjoy please give him a follow.
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My little addition to the article just adding the definition of an NFT
What is an NFT?
An NFT is a digital asset that represents a real-world object like art, video, music and in-game items. They are bought and sold online with cryptocurrency and they are generally encoded with the same underlying software as many cryptos as well as meta data. The metadata in an NFT is the actual content and the description about the content described in the contract stored on the blockchain.
A look at a few of my Avalanche NFTs recently acquired
Splinterlands Asset Updates
I am about to break 30,000 SPS Staked
Just as the airdrop gets near its end and the value of SPS has a bright future with so much utility announced how SPS will be involved with every aspect of the game from the Land and Metaverse (SplinterVerse) upgrades to being involved in every aspect of the game and every future update!
Can you imagine when the masses realize the passive income potential from this game without even having to play?
Utilizing tools such as Splinterlands Rentals at Splinterlands.rentals that optimize your NFT rentals giving hands free optimal gains makes Splinterlands passive except for compounding my airdrops of SPS and selling VOUCHERS from time to time for more SPS and LVL token.
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SPS Reaching 30,000
Join me in celebrating a milestone of 30k SPS staked!
I will not power down until SPS is on its way back up to $1 in which I will explore a power down and purchase of an SPS Node or diversifying into more cards and or more LVL token.
image source
Not powering down until we see 15x or better gains from here! #buythedip #notfinancialadvice #spt
Consider checking out @psyberx please as they developed the bridge from Hive to Avalanche Psyber-SWAP making our Avalanche onboarding project a huge success! Some projects we onboard begin with interest in a Psyber-X collaboration and all have been possible thanks to @royalreptilestudios
Check them out at Psyber-X Homepage & The Psyber-X Market Place
Keep scrolling to see instructions provided on a recent post by @bobthebuilder how to bridge your assets to Avalanche via MetaMask.
FROM PSYBER-X POST
How to wrap LVL into Avalanche Blockchain
First:
You'll need an Avalanche wallet: https://wallet.avax.network/
Second:
I highly recommend a Metamask wallet. https://metamask.io/ You'll download an extension, much like the Hive Keychain for Hive. Metamask will hold on to your wallet for you. When you make transactions on the Avax side, you'll need some liquid Avax already in your wallet. Every transaction will cost some Avax. I bought mine on Bittrex.
Third:
This brings us to an important point. While Hive has a first layer (Hive) and a 2nd layer (Swap.Hive), Avax has 3 layers. C, P, and X. They literally call them the C-Chain, P-Chain, and X-Chain. When I bought Avax through Bittrex, it was on the X-Chain. I then transferred it to my Avax wallet at https://wallet.avax.network where I then used a cross-chain function to move my Avax from the X-Chain to the C-Chain. From there, I was solid!
Once you have Avax in your wallet, you'll connect your Avax wallet to your Metamask wallet. It will have an option on the upper-right corner to connect to Metamask or it will automatically recognize it when you get to the site if you have Metamask already set up as an extension (@bobthebuilder2 highly recommends this).
The Bridge
Granted, you may not need all of that above to move LVL to the other side of the bridge, but if you don't plan on using LVL on the other side, you probably should keep it where it is. There is a fee for using the bridge. It is currently set at a minimal 1%. We didn't want to gouge people for moving their funds over, yet we have to have enough charged to cover the fees of keeping this service available.
Notice also that it says you're moving LVL to the Avalanche C-Chain. See? I got you all prepped!
I know I haven't given you the site address yet...I have just a little more to tell you...like how it works.
How does it work?
When you send LVL through the bridge to convert it to LVL on the Avalanche C-Chain, your 2nd Layer Hive's LVL will go to @wrapped-lvl and stay there. It will sit on the Hive blockchain, waiting patiently. The bridge will then mint 1 LVL for each LVL you asked to bring over on the Avalanche C-Chain side. You can trade it, put it in a Liquidity Pool, etc. Let's say that you sell it to someone in the Avax camp (which we're hoping to have hundreds to thousands of people who don't even know about us yet, but will want to come over). They can then come to the same bridge and swap their Avalanche C-Chain LVL for Hive LVL. They'll need a Hive account to do it...but when they "Unwrap" their LVL, the Avalanche C-Chain LVL will be burned and @wrapped-lvl will send the equivalent amount of LVL to their Hive account. This way, there will never be more Avalanche C-Chain LVL than there is LVL in @wrapped-lvl's account. The 2nd-layer Hive's LVL will not be destroyed. It will be held tight in @wrapped-lvl's account for safe keeping, waiting for the LVL holder on the other side to come back.
Ready to walk the bridge?
If you'd like to use the bridge, keep in mind this is one of the first bridges ever built from Hive to another blockchain. I understand Leo and Splinterlands have done it. We are now the third that I am aware of. There may be issues. It is new. We've been building it since February and testing it the whole time. We've gone across the bridge back and forth many times and swapped LVL for AVAX with over $1000 worth of crossings to test all the variabilities we could conjure. You could lose your LVL. It's possible. It's code, after all...and while we trust in our dev to the highest degree, there could be flaws none of us were able to see. If you find an issue or need a hand to walk you through it all, reach out on our discord as seen in our Social Links below.
The bridge: PsyberSwaps.com
Good luck and don't wander too far!
Where's the Marketplace?
http://www.psyberxmarket.com
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Dark Energy Crystals (DEC) are the in-game currency token for Splinterlands. Earn them through gameplay or by sacrificing unworthy cards in your collection, and then use them to buy all sorts of great items in the shop! Splintershards (SPS) is the governance token which will be integrated into the Splinterlands game in order to provide increasing levels of decision-making ability and control over the product to the player-base, asset owners, and other stakeholders. Play Splinterlands by **[clicking here](https://splinterlands.com?ref=dynamicrypto) Join the conversation [in discord by clicking here](https://discord.gg/wC29WAg7Ne)** ---
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Type: Alpha- P2E Battle royale Beta- Metaverse openworld RPG
Network: Hive
Supply: 500,000,000 LVL with -10% left of 50% allocation in Phase I distribution
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Mint Price: 0 USD - Hive is zero fee blockchain with lightning speed, prime for gaming
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