Reading time – 7 min.
NFT is called the main trend of the blockchain industry in 2022. There is so much news about non-fungible tokens that it is time to get confused. But no one can yet clearly explain what kind of miracle this is – NFT. Today we will try to solve this mystery.
After reading our guide to the end, you will find out: what is NFT, how to use them, where they are used now and how to explain to your mother that this is a really cool thing and you can make great money on it.
What is NFT?
NFT is a digital document of ownership. It is stored in the blockchain.
You can attach a token to any digital product – photo, video or audio. Now NFT will contain all information about this object.
It is important to remember: a token is your exclusive right to your product. Of course, someone can make a copy and own it, but the very first and original file is always the only one. And he’s yours!
You can perform different actions with a token – own, change, sell, buy. Yes, whatever.
It is important to note that tokens are stored in an open and distributed blockchain. Not too clear? Let’s explain in simple words – information about this product, about the history of operations with it and about its owner is always in reliable, but open access.
Let’s summarize briefly. In theory, NFT technology allows you to turn ANY PRODUCT into a token (“tokenize”), both digital and physical.
What can be tokenized:
– digital art;
– music, cinema;
– tickets for various events;
– games, character screenshots, weapons;
– Yes, whatever you want!
Image source – Artozo
Right click and save – EASY!
Easier than easy – right-click and save!
Money out of thin air?
“Ha ha ha, why give millions for some picture if I can just save it with one click“.
A couple of years ago, such words did not seem funny to us. The problem of “copy-paste” really complicated the life of the authors of digital works. Anyone could save the images they created to their own disk, and the copies were no different from the original.
Today, everything is different – thanks to the NFT. For example, you will be incredibly happy if others start using your picture! Let them do what they want with it – you will only get profit. No cons!
How so? By creating a unique NFT, you secure ownership of the original. And when copies of it begin to spread like a virus on the network, the value and recognition of your NFT will skyrocket. Yes, it’s a business.
You still don’t really understand how it works? Here’s a simple example for you.
Remember The Birth of Venus – even your pet would probably say that he knows this picture perfectly if he could talk.
You can buy a copy of this masterpiece and hang it over your computer desk to admire and enjoy its beauty. No one will forbid you to make a print on a T-shirt and present it to your girlfriend. You can put it on your profile picture in Telegram so that everyone thinks how well you understand art.
Meanwhile, the value of the original will only grow, because everyone sees copies everywhere. And, of course, they know about the existence of the original. This principle works both with Gucci copies and Nike “replicas”: the original only benefits from the hype.
Now imagine that all this happens with a picture that you drew in Photoshop or Paint, and then decided to make an NFT out of it.
Looking at the masterpieces in the Louvre Gallery, we are 100% sure that we have the original in front of us. In our situation, the blockchain is a museum, and your painting is the “Birth of Venus” exhibited in it (although you can only find it in Florence). The blockchain captures the value of your work and stores it.
Image source – Artozo
Market problems are not a hindrance to us
It’s no secret that the world of cryptocurrencies and NFTs is going through hard times. The bear market is taking its toll on digital properties. Clearly sales are down. Do not forget about the difficult conditions on the market – there the ball was ruled by “junk” art, there was a scam all around, and it was difficult for artists to break through. Do you think everything is hopelessly bad? We hasten to please – not at all.
According to leading analysts, a temporary drop in sales volumes will allow the NFT market to clear up. What does it mean? The industry will simply get rid of the “tourists” – those who churn out NFTs in order to earn at least some penny and ride the wave of hype with others. The “hamsters” well-known to you will also leave the market.
The fewer “junk” projects remain, the more prospects the market will have.
And since NFTs can be released by anyone who is not lazy, the entire ecosystem has suffered. Talented artists today earn little – against the backdrop of high competition and the depreciation of really high-quality works. And if you remember how much platforms have to pay for the creation and placement of NFTs, many simply no longer have the desire and willingness to participate in this.
New projects – new opportunities
The problems that artists have faced in the NFT ecosystem will soon be irrelevant. Many have already heard about the new NFT platform Artozo, released on the Solana blockchain. This is not just a marketplace where you can buy funny NFTs.
Image source – Artozo
Appearance Artozo caused a real stir thanks to the main feature of the platform – the referral system. Here’s how it works – you invite a friend to Artozo and get a percentage of all his transactions and activity. Moreover, the people your friend invites will automatically become your referrals – those who bring you income. And so on up to the tenth line: friends, friends of friends, and so on.
Buying / selling NFTs, paying rewards on Artozo – all these operations are carried out in the native cryptocurrency of the project – ARTZ. It can already be seen on the Solana blockchain. At the pre-sale stage, the price of the token was only $0.005, but in July there was a listing on the DEX and the price doubled to $0.01. According to forecasts, the token will grow – at least 20% every month – slowly but surely.
At the end of August, a beta project starts – the full opening of the marketplace and various functions of the platform. At the same time, free registration for artists will open: they will be able to post their collections on Artozo.
But for this, the creators need to pass verification. Thanks to this innovation, the team will protect the marketplace from lots that have no value. Then only truly talented artists will get a chance to sell genuine samples of real art for a decent price.
Another feature of the platform (to be honest, there are an unrealistically many of them here) is a unique system for evaluating art. There will be 10 NFT levels on Artozo. The principle is simple: the higher the level, the higher the price. Platform users will be able to vote for the works of other artists they like and increase their value. For this, they will receive activity points, which they can then convert into ARTZ. As you can see, everyone benefits.
And for dessert – ArtUp Boosters. You can buy these items directly on the platform to level up your NFTs. For example, you have a level 1 NFT. Its minimum price is $40. But if you buy an ArtUp booster, you can level up your NFT. And now it will be 2 levels, where the threshold price is already $80. And, accordingly, the value of this digital art on the market will already be higher. By the way, you can purchase these boosters with activity points that you receive as a reward for being active on the platform.
And here’s the most important thing: Artozo is a paradise for artists. Mint NFT will cost $2 here, and the features of the platform will help promote your art in terms of level and price, which will allow you to sell it for the most expensive price.
Believe me, that’s not all.
Go to website Artozo – there is a lot of information about the guys and their platform.
It is these innovative NFT projects that allow us to look to the future of the industry with great optimism.
Why doesn’t NFT drop as much as crypto?
One of the main sources of NFT immunity to powerful price collapses is the partnership of digital collections with global brands. Such cooperation gives confidence that even a protracted “crypto winter” will not bring down sales volumes. Many first-rate brands have already become an integral part of the NFT space, received the necessary hype and managed to stay on the waves of market turbulence.
There are a great many NFT projects in the world. But you should not enter any of them without first having studied all its conditions – in detail and carefully. It is very important to conduct your own analysis and see for yourself the first timid signs of success in a new project. Good luck!
If you find an error, please select a piece of text and press Ctrl+Enter.