If you spend even 30 minutes on social media, you must have heard the phrase NFT artwork and wondered “Huh, another trend of the Genzs, give it a year, and poof, it’ll be nowhere to be found”
But we have some news for you, it didn’t. NFTs have become more and more popular recently. The NFT marketplace has become a hub for the new age artists to release their art in whatever forms they excel in.
Now you must be wondering, “What is NFT artwork? How does it work? Where to find it? Can you be a part of this flourishing industry?”
Breathe. The answers to all of these questions and more with great detail will be found in this article. You can consider this article as your guide into the NFT world.
What is NFT Artwork?
NFT is a digital asset that you can own over the internet, you can’t touch it but you can have your rights over it. NFT stands for Non-fungible tokens which means that it is a distinct digital asset that is exclusively owned by a buyer or the person who is selling it.
In the case of NFTs, these exist on the blockchain technology. Blockchain is a unique technology used by the creators in the NFT market.
The most popular blockchain technology used is the Ethereum blockchain, though other blockchain technologies have been created, Ethereum is the most-used one. Blockchain technology basically records who owns or trades an NFT which makes these NFTs authentic because no one can replicate an NFT once it has been already created.
NFT artwork can range from music, art, and collectibles, to even a meme. It might sound a bit unbelievable but people people have earned millions of dollars by just selling memes over the NFT marketplaces.
For example, if we talk about memes, the ‘Disaster Girl’ which was insanely popular recently was sold as an NFT for $500k in the market. The sale of an NFT depends on a lot of reasons.
It majorly depends upon rarity, and how unique the art is; then it also depends upon the popularity, a lot of times NFT artwork can be sold for millions of dollars because of the popular artists that they are sold by or because some celebrities advocated about it. We will elaborate more on this further in the article.
So, although you can get the same meme or artwork on the internet for free, there is something else in the feeling of owning it. It’s not just the ownership that attracts people but also certain rights that come along with it.
For example, certain NFTs have online games that you can play with the NFTs bought. Other NFTs like the Bored Ape Yacht Club (BAYC) has an entire world for the apes where you can put them to use.
NFTLinkShare is a marketplace that gives you various options for your next NFT purchase and is an authentic and trustworthy site if you are new to the NFT game. The NFT market has brought about a surge in digital art and to be a part of it you need to know what is NFT artwork and how to correctly put it to use.
How to create NFT artwork?
Now that you have learned what is NFT artwork, the next question that comes to your mind is how do you create one?
There are a few essentials to get started with creating an NFT, more like a starter pack for your entry into the NFT world.
After knowing what is NFT artwork, you will need to choose a digital medium to create an artwork piece, then you will have to create a crypto wallet that is linked to a blockchain. After you’ve done all of that you need to choose a marketplace to mint your NFT and release it into the real world (or a digital one).
Here is a bit detailed description of each of these steps:-
1. Create a Mindboggling/Blowing Artwork
You can turn any piece of digital media that you have ownership rights on into an NFT.
And if you want to create an NFT, there are a lot of programs that will help you do that, like NFT-inater or Bueno which are more NFT-specific programs and if you’re searching for platforms to create digital art, these include Photoshop or Procreate and others.
You can create 2D images, 3D images, videos or memes. 2D images are the easiest for beginners to create. People who have been at it for some time now and call themselves advanced users in the field can go for 3D programs using software like Maya, Bender, or Houdini.
2. Make It Authentic
As we already know, NFTs become authentic when they are stored on a blockchain. The essence of what is NFT artwork is stored in blockchain technology.
This process of storing your NFT on a blockchain is called minting. Once your NFT is minted, it cannot be altered or replicated by any other person.
There are a lot of options that you can choose from when you are choosing to mint your NFT.
But certain things that are important for you to keep in mind are- firstly, the compatibility that it has with your crypto wallets and marketplaces, along with that it should offer you a certain level of security, environment-friendly nature of the technology also matters, and gas fees.
Gas fees is literally the amount of money that a blockchain costs you to perform actions on it and this is usually what you should be careful about when you are beginning to create your NFTs.
The most popular Blockchain technology, chosen by most of the creators is Ethereum Blockchain, which uses Proof-of-Stake to authenticate transactions, which is the most secure way to do so. Then comes Solana which uses Proof-of-History and Proof-of-stake to secure the transactions.
These two are compatible with most of the marketplaces that are used to sell NFTs. Flow is another one of the blockchains that is cheaper than the above two and is more eco-friendly. It supports everything that Web3 does. It is even more efficient in terms of workload distribution.
3. Time to Bank That Money With a Crypto Wallet
After learning what is NFT artwork, creating one, making sure its authentic, we come to the next essential step- starting a crypto wallet.
A crypto wallet is just the digital form of your physical wallet. This is where all the NFT transactions take place. It also keeps your NFTs encrypted until you are ready to sell or trade them.
We have listed some of the best Crypto wallets for you so that you do not have to spend time searching for one and can begin your NFT journey right away:-
- MetaMask is one of the most popular NFT wallets and is used by major creators. It also has a bro2wser extension to it. MetaMask is supported by most NFT marketplaces
- Rainbow is an open-source crypto wallet that is also mobile-first. This is also popular among the NFT enthusiasts and is used by most of the NFT marketplaces.
- Coinbase is a crypto wallet that uses two-factor authentication. And just like MetMask, this also has a browser extension. Coinbase is very user-friendly software and is good for people who are just beginning to get into the NFT world and getting to know what is NFT artwork.
- TrustWallet has a built-in Web3 browser and has a very mobile-friendly interface. It supports a huge amount of digital assets.
- NFTLinkShare is another site where you sell your NFTs.
4. Go Get it!
Don’t worry, you’re almost there! From not knowing what is NFT artwork to listing it on a marketplace, you’ve come a long way!
After you have created a crypto wallet it’s time for you to link it to a marketplace and begin this new journey. These marketplaces are just like the physical marketplaces that you have for your daily needs.
These marketplaces are for your NFT needs. You have a lot of options when it comes to your choice of marketplace. Some of the best ones are mentioned below:-
- One of the most popular NFT marketplaces is OpenSea. It is one of the biggest marketplaces. For all the creators who sell their NFTs through OpenSea, there is a commission of 2.5% of their sales that OpenSea takes for this function.
- SuperRare is known for creating the most high-quality NFT art which people think should belong in a museum. It is extremely focused on individual content which is worth the price. The commission that you have to pay for selling your NFTs through SuperRare is 15% of your sales.
- Rarible is another one of the NFT marketplaces that are quite popular but here the commission is paid by the buyer instead of the seller.
5. The Last Stitch
Now that you have got to know what is NFT artwork, created one, gotten a crypto wallet, and chosen a marketplace, you’re hardly a step away from becoming an NFT creator!
Once you have chosen a marketplace connect your crypto wallet to the marketplace. Now upload your NFT onto the platform.
Enter basic details like name, description, metadata, image size, etc. Different marketplaces require different information from you.
And there it is, you’ve successfully become an NFT creator and could now you’re maybe just one fantastic or flabergasting idea away from becoming a millionaire.
How do the creators benefit from the NFT world?
Now that we have covered the major stages of your entry into the NFT world. Here are a few reasons for you to go ahead and dive into the world because, in the next few points, we’ll discuss what your intent might bring in return from the NFT market.
After getting to know what NFT artwork is, how can you get into it, now we’ll cover the “why” for you. Here is why you should become an NFT creator:-
1. Ownership of the art
Before NFTs came into existence in the cryptocurrency world, we couldn’t own something that was completely digital especially digital art which is what is NFT artwork. We used to have digital art, pictures, videos, and memes that we used to pass around.
But with the emergence of NFTs, come ownership rights, now you can sell digital art, rent it, or trade it. When you become an NFT creator after knowing what is NFT artwork, you have to legalize your artwork.
When you create an NFT, then you have to mint or tokenize it on blockchain technology. This makes your art authentic and rare even since it becomes extremely hampered with the authenticity of an NFT once it has been minted.
This gives the creators a digital recognition of your work just like the recognition that was received by the artist Gustav Klimt with his painting, The Kiss. Therefore, if you are thinking to start creating your digital art and selling it as an NFT, you should know that you are far away and protected from any fraud or replication of your artwork.
2. An extra penny for the pocket
With NFTs coming up, digital artists have a new of earning some extra money and if you are lucky enough, a lot of extra money. Digital artists have found NFTs to be an efficient way for them to release their creativity and earn from it.
You do not have to chase your clients for payments, wait for feedback, run through cheques, or edit your artwork again and again just for them to like what you have created. This advantage is majorly what drags artists to knowing what is NFT artwork and converting their NFTs into it.
Sometimes, the artists even get royalty, just like the painters used to get from the kings every time they sold a painting. In the same way, some marketplaces offer the artists royalties, meaning they would have 8-10% income wherever they sell a painting.
3. The world is the limit
Art collectibles, exhibitions, and paintings had only one way to get showcased and that was through IRL events which had a very limited reach and were not doing well considering the pandemic condition of the world but with more and more people getting to know what is NFT artwork, now even physical artwork has a global reach, it gives a chance to every creator to sell their work and every collector to look for the art they are most interested in.
All types of art is welcomed by the NFT world and buyers from all around the world. Graphic artists sometimes find it hard for themselves to settle, to find a steady income unless and until they have promising clients.
Knowing what is NFT artwork shows up as a knight in shining armor for them, they can search for jobs in the real world while they still have some amount of income coming in from the NFT world.
4. (Ecological) footprints that the NFTs leave behind
There has been one controversy around NFTs that hasn’t been solved. They have a sort of negative impact on the environment. It takes up a lot of energy to post NFTs online and for people to buy them.
And since more and more people are getting to know about what is NFT artwork, this usage of energy is increasing.
For example, French Artist Joane Lemerciew released a statement when his NFT artwork was sold within 10 seconds of its release which took 8.7 megawatt hours worth of energy. But this isn’t exclusive to just the NFT world, this is more related to the practice of “proof-of-work” which originated when NFTs came into the mainstream business.
It is required in mining to create and minting of various products. But you don’t need to worry because the production of greener alternatives is on the way.
For example, the NFT marketplace that we just read about, which is called Flow, is a much more environmentally friendly version of the other marketplaces.
Wrapping it Up!
In this article, we covered what is NFT artwork, how to create it, and what you get if you become an NFT creator. NFTLinkShare is an up-and-coming site that provides you with various options if you are looking to buy NFTs and it is also a platform where you can sell your NFTs.
It is easy to access and will be a great stage for you if you a beginner in the sale or trading of NFTs. So if you are just getting to know what is NFT artwork, NFTLinkShare is the perfect place for you to start investing.
There are a few frequently asked questions answered below:
1. What does NFTs mean for art?
NFTs are a digital form of art made with a unique blockchain. They are bringing about a new era in the world of collectibles with their digital art pieces. It is giving a new way to the artists to earn a bit of extra money and also showcase their art.
2. What is an example of NFT art?
A good example of NFT art is the Beeple NFT, Everydays: First 5000 days, which was sold for $69 million. It was the first NFT art that brought the NFT market into the mainstream and proved that the NFT marketplace can also earn a lot by showcasing good art.
3. Is NFT legal in India?
India currently lacks the laws which regulate or prohibit the sale or trade of NFTs. The only legal reference that can be found that realtes to NFTs is in the definition of “Virtual Digital Assets” (VDA) under the state of law.
4. How do NFTs make money?
You can buy and sell your NFTs on various NFT marketplaces which can help you earn money and rewards. You can tokenize your NFTs on the blockchain technology, this is also called minting. You can also invest in NFT collections and then when the prices rise, you can earn money from them.
