With raging popularity, non-fungible tokens (NFT market) are fast becoming the new face of revolution heralded by cryptocurrency and blockchain technology.
1.What Is NFT?
Cryptocurrencies in India are experiencing renewed interest from prospective buyers. There are daily speculations on the best crypto to buy today with many experts constantly telling investors the best cryptocurrency to buy right now in the country. In the larger ecosystem of cryptocurrencies, the Non-fungible tokens (NFTs) have become quite a rage in the last couple of years or so. Right from memes to music and from video games to tweets, NFT market is leading the tech revolution with billions of dollars being raked in from their sales. The reason behind the popularity of NFTs is not difficult to understand. People across the globe are recognizing that the future belongs to cryptocurrencies and hence, they are not shying away from making investments in digital coins and allied technologies such as Decentralized Finance (DeFi) and NFTs. NFT is quite popular in the NFT market India segment with countries witnessing rising interest in this category.
2. What Is The NFT Market And How Is It Useful?
NFTs are digital assets that can take a variety of forms such as music, art, painting, video game, tweet, memes, signatures, etc. NFTs are underpinned by the same blockchain technology that powers the transaction mechanism of cryptocurrencies. NFTs are bought and sold digitally in the NFT Market and creators receive the money in digital coins.
There are many unique benefits associated with the creation of NFTs. Not only does this format of digital art ensure that creators get their fair due but it also ensures that ownership of the asset gets tracked in an absolutely safe and secure manner. Further, NFTs offer better flexibility when it comes to resale or future deals in the NFT market– with every subsequent purchase, the creator of NFT gets a part of the payment as commission.
3. How to mint NFT?
In order to mint an NFT, the first thing the creator has to select is an appropriate blockchain network. There are different networks that support the minting of NFTs with some prominent names include Ethereum, Binance Smart Chain, Polkadot, Wax, EOS, and Tron. It is also equally important for creators to understand the capabilities of the selected network to support the transfer and the sales of NFTs across different blockchain networks. In other words, the selected blockchain network must have a robust ecosystem to support the NFTs sales and distribution in the NFT Market.
In addition, the cost-effectiveness of the selected platform and its ability to offer attractive marketplaces for NFTs are also worth consideration. Ethereum and Binance Smart Chain are currently the most popular platforms for minting NFTs. These have gained popularity among NFT creators owing to their robust ecosystem and wider NFT marketplace capabilities.
4. How to convert your art into NFT and sell in the NFT market?
Creators need to set up a crypto wallet to start converting and selling their art through NFTs. The wallet will store the cryptocurrency that, in turn, will be used to create, sell, and buy NFTs on the chosen NFT market. The wallet is also required to create an account and safely sign in with the NFT marketplace. Some of the most widely used wallet services include Coinbase wallet, MetaMask, and Rainbow.
After setting up a crypto wallet, creators need to top it up with some crypto balance. This top-up is required because creators have to pay a certain amount of fee in crypto to convert the content into digital art. Hence, maintaining balance in the crypto wallet for paying the fee is a prerequisite for the creation of NFTs. The third step in the creation of NFT is to select the NFT marketplace for creating and selling the NFTs. Making the right choice here is of utmost significance as the sales potential of your NFT depends significantly on the reach, popularity, and credibility of the marketplace. Hence, due diligence must be exercised while selecting the marketplace on which you finally decide to create and sell your NFT.
5. Tech Faktory: A Leading Name In NFT Domain
There are a number of platforms that offer the NFT services but we suggest you choose Tech Faktory to create and sell your NFTs. The platform offers a one-stop solution for all your requirements related to NFTs and its holistic approach makes it a preferred choice among creators, buyers, and sellers in the NFT domain. Tech Faktory allows you to select from a wide range of services pertaining to both marketing and technology aspects of NFTs. This means the platform can help you to create, mint, and mine NFTs, make marketing strategies for your NFTs, build NFT stores and marketplace, and achieve NFTs sales on the marketplace. In sum, Tech Faktory can help you realize the vision of creating your own NFT and earn a handsome profit from it in the NFT market.
NFTs are becoming the new face of the crypto revolution. These digital arts have allowed creators to unleash their creativity in almost all possible forms and domains of their interest. It’s probably high time for you as well to reconsider what arts mean to you and give it a shot by creating digital art and selling it in the form of NFT.
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