Welcome to the new world
I am a prolific artist, and I live a life devoted to creativity. Am I successful? It depends on what you think is being successful. I have focused on developing ideas for my art and concepts for the last five years rather than my professional career. I don't need to tell you that time moves faster as you age. We are bombarded with depressing reminders of our aging!
But as C.S. Lewis said, "There are far, far better things ahead than any we leave behind." Life is about exploration! However, it can be overwhelming at moments.
Like many of you, I first heard about crypto-currencies as a theme in the news. However, I didn't pay much attention to the topic at first because I was struggling to keep up with my finances. Then one day, I realized I couldn't avoid the case of crypto-currencies any longer.
WHAT A SHOCK! Yes, the guy is all about virtual production venues, and yet he was not acknowledging the elephant in the room!
Then like crypto-money was not enough, I learned about NFT!
What is NFT or non-fungible token? If you type NFT on the search engine, brace for impact because you will be flooded with endless links, all pretending to have the answer.
I've been trying to figure out how to navigate the brave new world of intangible property, but my ideas are still rough. Here's what I have so far: Anything you make virtual—an image, a movie, an app, what have you—can become an NFT. You can use a system to give it an official identity and metadata about its origin and ownership. This process gives it a "mercantile value" that can be traded, sold, or given away.
Now, the process isn't simple! Some platforms offer a service making it more accessible, but with those, we face the same problem... We aren't all clever nerds! First, it is not a free process, and depending on how you want to proceed, it can actually be quite costly. But whatever techniques you use, you will need to have a crypto-money wallet setup (that is the easy step.)
For each NFT, you will have to deploy a smart contract. Did I lose you? It took me a lot of digging to understand the concept of the smart contract. Let's say that it is the essential part of your NFT legitimacy and that if done improperly, you are in trouble because once on the chain (out there), it can't be changed. T
hat is the point of NFT; once a token is defined, this is it.
My advice is to start with a place like opensea.io; that's what I am doing.
I won't go into a bunch of details because I am still in the process of understanding and making it work. What is important to retain is that this is not a fade but the next step in the worldwide transactional process. There is a lot of very cool stuff you can do with this system bringing more returns for you and your clients. You can also attach a virtual and physical item to your NFT. For example, clients can get the signed physical print when purchasing an NFT Comic book. Also, you can put in the contract that every time your NFT is re-sold, you get a commission fee! This is more than I can say for all of my conventional body of work.
Welcome to the new world!