Recently we decided to figure out how nft’s work. Well I must admit. There is a lot of things that I don’t know much about and nft’s is one of them. I’ve been watching video’s, reading and asking questions. Slowly I started to get at least some of what is going on.
An nft – non-fungible token. it sounds like fungus, but apparently it is not, it is a unique piece of art or something else that is very unique that one can tokenize and then sell on open marketplaces like opensea.io. If it is very rare, it will fetch a high price. Now before you jump head and shoulders into this stuff. You got to know a few things. Like how to setup a crypto-wallet. Then how to link the thing with the marketplace and all that. It seems sort of easy until you start doing it. The main problem in all of this is the incredibly high gas fees of Ethereum as this stuff is mostly on the Ethereum Mainnet. There is obviously other crypto’s doing the same, like Solana. It does not seem to be a whole lot cheaper there though. But before we get totally discouraged. There is the Polygon network, where gas fees are small.
It took us some time to try and figure this stuff out and we were able to create our own collection on the polygon network and link it to Opensea. Maybe we will make a few videos shortly describing our experience in creating and minting stuff. But if you are into online sales and marketing, this may be something that will work for you.