So NFT's are a thing. Its really just a type of token that can store information inside. Blockchain games like Splinterlands and dCity already use them to create different (non-fungible) game pieces within the same token set. Fungible tokens, like HIVE and Bitcoin, are tokens where every one is the same and interchangeable.
Here's something to consider about the 'NFT art' - the art is not actually in the blockchain (usually), generally its just a link to the art.
Source: How to Create an NFT and why you may not want to.
This art idea shows the limits of NFT technology. Sure we can put information in a token, but what good is it? If its a link to the image, owning a token does nothing to stop anyone from 'right-click saving' the image onto their own hard-drive, or screen-shotting the image into their post.
This brings us back around to the concept of tokenized ownership. The concept of a token allows us to 'prove' ownership within a wallet, a blockchain concept of an account.
If a token appears in a wallet, that wallet owns the token. The owner(s) of the wallet are the ones who control 'the keys', the private key specifically that matches with its public key pair. The public key is the wallet address, on HIVE it is the 'account name'.
Not your keys, not your crypto
Its important enough to remember, that the concept of 'tokenized ownership' is something that depends on everyone learning how to control and keep control of their private keys.
If you want to sell an NFT, everyone that buys it needs an account on the right blockchain. There are not that many different blockchains to choose from, let's take a look at them briefly here:
Ethereum
Ethereum is the original NFT chain and most expensive blockchain to work on, both for NFT creators but also for buyers/users. These costs are referred to as 'transaction fees', which accompany any placing of information into the blocks of the Ethereum blockchain, and can go for $10 and up per transaction, with emphasis on the up. The highest fee I have paid was 44 dollars for one transaction.
OpenSea is one of the largest marketplaces for NFTs on Ethereum. Many other marketplace sites exist, since the actual transactions are happening on a blockchain, the front-end user interfaces are just accessing the api blockchain data to populate their pages.
OpenSea will even help you create or 'mint' your NFT collection.
OpenSea also will let you mint NFTs on SOL, but I cannot recommend SOL right now because it is very new and I am not even clear that it is a blockchain, their 'proof of history' algorithm sounds a lot like a postgres database.
You can read more about SOL here.
Binance Smart Chain (BSC or now BNB chain)
Not to mince words, this is a Chinese clone of ETH. It is not a blockchain, it is run internally by the Binance team. It is an exact clone, very common in open source infrastructure, so it has been a very popular place to test all the same things people have wanted to test on the Ethereum blockchain, but it was too expensive to do so, including DeFi and NFT projects.
Expect to pay 25-50 cents USD per transaction on the Binance chain, but since its a clone, all code is also compatible with the Ethereum chain.
Take a look at a team I have seen doing cool stuff before, anyone can mint their own NFT collection and the ICEBRK team will even help coding the smart contract - they even have hooked up with giftcards that support NFT purchases - there is a lot of potential development here.
https://twitter.com/ICEBRKofficial/status/1493166690548420611?t=mafdBX7PN9mzCLxJ5tPRNA&s=19
HIVE with HIVE-ENGINE smart contracts
The HIVE-ENGINE team have built out a suite of protocol level tools to make your own token on HIVE, as well as do some common things like staking, pooling and yes, even creating NFT collections.
People can buy BEE and burn it for HIVE-ENGINE services, including hosting your own NFT market, where the mint fees will come from your own token, I started looking into this to see which tribe I could test hive-engine NFTs on.
I will be testing a CINE tribe NFT collection in the next few days to see how it goes.
Prices - How much does it cost?
It really depends what you want to do. Token minting costs depend on the chain, and currently I am testing CINE token NFTs which cost just 101 CINE per collection and 1 CINE per token, at a current price of 0.09 HIVE/CINE, and HIVE sitting at 0.86 cents - this comes out to $7.82 usd for a collection with a token mint cost of 7.7 cents per token.
I have a cool project to do a CINE NFT collection of, so I will be getting the permission to do that and launch my collection as a test run.
Development encouraged
So as you can see, the NFT community is rapidly building itself, from interfaces to markets to teams of people ready to help you create your own NFTs. But each and every blockchain and project needs you - and by you I mean
need people with great ideas and desire to make NFTs
Really no one knows where this is going, many of us just see a part of the potential of where this is going. If you have an interesting and unique NFT idea, it would be worth the time picking a blockchain to work on, understanding your budget, and understanding one more key point:
Every customer needs a wallet.
And I mean this in both ways, they need an 'account', which is a pair of public-private keys, and they also need a software to visualize their 'account'/wallet.
For HIVE, this is HIVE Keychain. For Ethereum and BSC, its Metamask or others, such as Trust Wallet.
Choose wisely, and know that educating your customer base is the 'real hard part'.
Freedom and Friendship
Posted Using LeoFinance Beta
