Transcripts
1. Start Your Career As An NFT Artist: Welcome to this
course on starting your career as an NFT artists, where we will be
going over all of the essentials and
necessities that are required by any individual or personality to get started
in this crypto space. It's a new space and a lot of people are uncertain about it. They have their doubts
and they don't know where to start or if to start. And in this course
we're going to be covering all the
questions that you might have in your mind before starting your career
as an NFT creator. Now, this course is irrelevant, not just to artists in
the conventional meaning. It's relevant to musicians, fashion designers, painters
and meme creators, and even architects who have
been involved in designing spaces and a lot of other fields that you
might be surprised. So before we get into
all of the things that we're going to be
covering in this course. A little info about
us, the block school, where we cover all
things crypto, from cryptocurrencies
to crypto exchanges. The utility of certain crypto
projects, NFT is included. And that's basically our motto,
the blockchain explained. We tried to cover the
new developments in this fast-paced environment
and try to educate people regarding the usefulness
of crypto for individuals and creators
and investors alike. So in this course, we will be covering
everything about LFTs, from mincing LFTs to
gaining followers for NFC collection and selling
them to your audience. And also offering
utility so that your project is successful
in the long run. All of these processes are very crucial to having a
successful project, minting, gaining followers and selling, and offering utility. And we're going to be covering
all of those in detail. So you're set up very nicely for launching your own NFT artwork. Before we move on to the
content of this course, you might be interested in
some of our upcoming projects, which include our research on booming NFT
collections regarding how they're being creative
and thinking out of the box. And some more courses on NFT and crypto projects
that are popping up each day and have some really insightful and
interesting use cases. Along with advanced
income strategies of how you can invest in these projects or
how you can earn a passive income by
being involved in them. Then we also have some
already published courses on crypto wallets, fundamental analysis in crypto and decentralized
exchanges as well, which help you earn
a passive income. So if you want to learn about our upcoming projects or take a look at our
existing courses. You might want to follow us
on this platform and stay up-to-date with the process
and progress at block school.
2. Predictions and analytics: Before we get our hands dirty, let's take a look at some of
the future predictions about the NFT space and how it's going to be performing
in the coming years, its potential and
some statistics to analyze the past year
for the NFT market. So you get a better idea, a better taste of
how fruitful or how beneficial this space
can be for you. Starting with this
interesting article on C-net money predictions
for Bitcoin, LFTs and the future of money. So first off, the crypto
space will become mainstream. So big money, big companies
are trying to figure it out how cryptocurrency
fits into their business. And even hedge fund managers
are making moves that could impact how we
use digital money. And the more that the
crypto space grows, the more the NFT space
will grow as well. Because the two are tied
together in the sense that they have the same
technology at the core, which is blockchain technology, which offers
de-centralized payments and ownership and
all of that stuff. So as both of these phases move further into
the mainstream, we're going to be having a
lot of money poured into them directly translates into more earnings for
you as an artist. The second per prediction on this publication was
LFTs will create new ownership opportunities
and also make us look at old opportunities with a
different perspective. Remixed them. A new way to determine
ownership of digital property. That's basically what NSAIDs are becoming increasingly popular in the art and collectible scenes. You've seen the launch of some really creative
collections. So there's the board, APR club, and crypto bonds. But the NFV potential goes far beyond eccentric
digital outlets. They've led to digital
land purchases in the virtual world and also new ways to own music aside from just downloading it, which gives musicians
a better way to connect with their fans. And then there's also
something mentioned about, about a party in New York recently where people
got access to it only by purchasing an NFT
these entities were using, were being used as
an access token for people to be allowed
into networking events. So that's another use case
of LFTs that has been on the rise on another
publication by the nasdaq, which was on the
future of art and NFT. It starts off with the
introduction of NSAIDs helped set the record for the largest
sale by a living artist. There are now upwards
of 40,000 buyers of art per month and upwards of $20
million in sales generated. So the first prediction is, not only can anyone anywhere view art on a
phone or a computer screen, but virtual reality
is increasingly providing the opportunity to
visit galleries and museums, explore an exhibition right
from your living room. So this is the
democratization of art, whether it is available
to anybody and everybody, not just the elite or not just the people who live
in a specific location, it's available to everyone. The second prediction is
that the NFT industry will elevate diverse
voices within the space. So it's already
helped in providing crypto education
opportunities for the marginalized
sections of society and also helping women
be creative and express themselves through
their art and also otherwise unnoticed
creators are popping up through this easily
monitored monetizable RC. Then the third prediction is the patronage and
fractionalization. Now, this is a new way
to own art before you had to purchase the
whole art piece to become the owner of that art. Now, there's this concept of fracture analyzing and
FTEs where you can break an NFC into multiple parts and have
collective ownership. And because there is no
third party involved, you can just share in the
future earnings of artists and they evoke than their work along with their other fans. There's also the
concept of patronage. Now, since there is no
third party involved, all of the funds that you pay some particular artist goes
directly to that artists. And that's helping reduce the
cut, goes to the middleman. And reducing monopolies of
Brown Labels in that sense. Not to mention the royalties
from each and every trade of a particular NFT
in the future will go to its creator in perpetuity. So another new ways of popping up out of
experiencing art, not just standing in a gallery, sharing them, staring
at an office. It's also being used to create digital canvases
and also being made accessible through virtual
reality or augmented reality, where you can just pop on
a pair of goggles and you can view the piece and then
location of your choosing. You can place it in your
digital home when you've got a headset on you and see
your artwork displayed. So those are the new methods popping up on the
fifth prediction. The last one is the increased
freedom and dependence, independence that these other
artists will be enjoying. There's more freedom
since there is no brand labels
sitting at the top. So there's more creativity
that is unleashed. Moving on, let's take a look
at these statistics from the past year of how the
NFT space has been booming. So the weekly total
cryptocurrency value and average value per transaction
sent to NFT platforms in 2021 really peaks around goes to $4 billion around
the 1st of September, and then it continues
beginning and the average value peaks around
the First off November. So it's been really moving
the space and chain analysis, which is a company that
monitors all things. Crypto has a, had a
thorough publication on it. And you can see that
these graphs are very helpful in terms of figuring out how this space is performing. So the most popular
NFT collection by weekly transaction volume, as you can see, are these green huge spikes in
the middle of this graph, which belong to the
mutant apes Yacht Club, which was a
transaction volume of more than $300 million
around the 1st of July in a transaction volume of more than $400 million
on the 1st of September. And you don't even
want to disregard these other ones
just because they're relatively lower than the
mutant ape Yacht Club, e.g. the boat ape kennel club
has also been recording a transaction volume of
$200 million and above, and all of these
other ones as well, pudgy penguins and crypto bunks, they're all booming
and they've got millions and millions of
dollars being bought into them. And so the NFT space
is really taking off, coming to the weekly number of active NFT collections
on OpenCV. Opencv is a popular marketplace
for trading and FTEs, which we'll get into later. The weekly number of
active NFC collections on the 1st of March
were less than 500. By the end of 2021, there were more
than 3,000 active collections on open sea alone, not even taking other
crypto marketplaces into account according
to which analysis and if the trading is
more retail driven, then cryptocurrency
draining, that means there are smaller
players in the market. People with a lower net worth, the vast majority of NFT transactions are
at retail level, meaning below $10,000
worth of cryptocurrency. Cryptocurrency trading
generally involves big whales with
millions of dollars of investment in projects. The end of the space is going to be going in a
different direction. Where people like you and me who don't have a lot of money or getting into the scene and everybody is getting
a piece of the pie. Look at these predictions
and these statistics. Looking at them, I think it's very evident that this
space is going to be revolutionizing
how artists and creators put out their
work in the future. And by looking at
some of these shots, you get an idea
of how this space has just started to boom. And the sheer numbers, the scale at which, at which it is operating
is only an indication, just a peek at what it
could become in the future. And so I think this will
make you more motivated and enthusiastic about
making your own entry into the NFT scene.
3. Artist case studies: So let's start off by looking at some successful NFT
artists and how they've been using this space to launch a successful brand. And some of the strategies
that they've been using. So first off, we
have people who is the most famous personality in the NFT space for right now, he's been creating our daily
since the past 14 years. And he created the
most expensive NFT ever sold at $69 million. I don't know if the buyer
had some comedic purpose in mind to purchase it at
that particular price. But people sold the most NFT
expensive NFT ever sold. And he's got a couple of
other collections as well which are performing
phenomenally. One thing to note here is that all kinds of NFT artists are, nowadays are really building in curating that Twitter audience. Because that is the
face of the game. Creators keep their fans updated on the Twitter space,
the Twitter sphere, which has become a trending of breeding ground for
these collections. So people have been posting
regularly every day and let's say audience know what types of artwork
He's been making. And they are, these are
really unique pieces as well as you can tell
by this Twitter page. And he's also got
his own website where he listed his gallery, add information about
his collections. Also a collector's boat. He's also got a second website
called people dash crap, where he posts the most
random art pieces. And that's also what
other collections that he's been promoting. Second up we have is
open sea account, which is an NFT marketplace where you can buy and sell NFT. He's on the blockchain. So you just need to have some
a theorem and your wallet. And you can list your artwork on this open marketplace where
you can display it to potential buyers
and list them for sale or list them as
an option as well. So people join this
marketplace in October 2020 And you can
see the blue checkmark next to his profile
verifying that this is indeed the original account
that people create it. Then here we have another
creator who was also, also has a following of
50,000 people on Twitter. And she's also listed
a couple links, particularly the one to
link fire.com slash, I am Lauren up where we'll
find her NFT collection. So when we go to this link, this is the collection
bile or Rona. As you can see, it's very
interesting and intriguing, really different from
conventional art pieces that you might see
on the internet. There's an empty space, is reading a new form
of art as well. Then we've got too much lag, another Twitter account with 28,000 followers and
also some links, too much lags, collections, and some discord links where he manages his audience and
keeps in touch with them. So you're getting a sense of how these artists are
promoting their, these artists are promoting their collections and
how they engaging with their audience through
their Twitter and discord profiles and having their own websites that opens the accounts to display
their collection as well. So this is an account
on a super rare.com. This is another NFT marketplace called super rare
and too much lag has an account which
he uses to promote his artwork and potential
and find potential bias. Then we've got Massimo Vitali. He uses odd to
depict a sanitized, complacent view of
Italian normality. This is a completely
different approach of creating works of art. Massimo Vitali has added
a different touch to it. And he's also got a
website listed at the bottom, Massimo vitali.com. So these are some of
the art pieces by him. You can see these people
chilling at the beach. They keep disappearing
and reappearing. Is also posted a video
connecting with his fans and also some other
videos about museums. So the art of Massimo Vitali is just people in Italy
and real life. Moving on to Takashi Murakami with massive following
of 300,000 followers. And he's also got
an Instagram link and also some posts on the bottom offering
white listed followers to mint his NFT. And then we've got more
Academy website where you can qualify for
pre-sale whitelist. And by that monogamy is
allowing you to mint his entities forum and also
a link to the public sale. And if you don't understand what the waitlist and public sale means, you don't need to worry. It's just another way
to sell your entities. And we're going to be
exploring these ways in the later sections of
this course. Moving on. So you've had a taste of our NFT artists are growing
their brands, publishing. There are pieces having different tastes and
touches to the outlooks. Really revolutionizing
how art is to be seen, to be sold, to be
explored and marketed. And so you can
maybe take a bit of inspiration from these
artists that I have shown here you today and start an NFC collection with a
taste that is unique to you. And also have a bit
of fun along the way.
4. How To Create Digital Art: Let's take a look at
the actual process of creating your NFT before you meant it
on the blockchain. Now there are thousands
and thousands of ways you can go about
creating your art, touching it up, designing it. But I'm going to
show you a couple of easy software that you can
use to make antibodies. And the most popular one of
those right now is canva.com. You've got multiple
tools on here to add interesting moving
elements to your NMT. And you could use any format, any type of Canvas in any
type of colors on it. It's very user-friendly
for beginners, especially if you're just starting out to
creating art pieces. You can just have a look at
canva.com to assist you. We've also got
preexisting templates. Once you go on Canva and
search for the term NFT, we're going to get a lot
of options right here to kick-start NFT creation process, we can just click on a template. It opens up the empty template right here in the
customization page. And then you've got
other templates on have you here as well. You can animate this picture. You can click on elements
and play around with some of the elements that are
available on this platform. Another tool that is very
good, It's Cinema 4D, particularly with the
entities that are three-dimensional,
animations and simulations. That type of stuff, which Cinema 4D makes
really easy for you. It is a paid product, but you can get it on a free
trial by clicking on trial. And it will provide
you with a lot of features to create an animate your NFT according
to your preferences. And there are also
multiple tutorials here on the website of how to go about animating or
creating using Cinema 4D. Another tool that is
evergreen is Adobe Photoshop. That has been the
favorite among artists since a very, very long time. A very powerful tool to
create any form of outlook. Very helpful once you
get acquainted with it. It has some complex
features and tools. So you do have a learning curve and you'd get started with it. But once you, once
you get a hold of it, you're able to create some
amazing pieces of art as well. This is a paid product. Now, another way
to create an N of t is just use an NFT generator. You can go to any
of these websites. This one is Night cafe.com. So Night Cafe here
is an NFT generator. You just have to
select a couple of features that you want
your collection to have. And you click on
the Create button and it creates a
whole collection for you without going about editing each singular
NFT by herself. There are other
multiple AI NFT tools as well such as hotspot, which can help you create NFT collections with tens
of thousands of assets. So one root is using
Canva or Photoshop, or you are Cinema 4D to uniquely create each
NFT by herself. And another route is
using these generators, such as Night Cafe or hotspot, that use artificial
intelligence to create an entire
collection of entities. For you. You also got multiple
tutorials on YouTube, too cold in artificial
intelligence, favorite frameworks to
create an NFT collection, starting with more than
10,000 or even 20,000 pieces, The sky is really the
limit here when you start creating NFT artworks with
artificial intelligence. Night Cafe and all ports have free trial versions as well. So these are the two methods you can go about when
creating your art. One has single-handedly creating each NFT by yourself or using an AI generator to generate
an entire collection for you.
5. How To Mint NFTs: Now it's time to just jump right into the minting of LFTs. And minting is really
just inputting NFT data on a blockchain, saving data regarding
your NFT on the blockchain so that it
is visible to everybody. And that process
is called minting. So first of all, if
you're just starting out, the first thing you want to
do is go to open C dot IO, which is the biggest and most popular NFT
marketplace out there. And so once you've
got the website, you can just click on Create. And it'll take you to a page where it asks to
connect your wallet. Now, if you don't have a
previously existing well, you don't need to worry. You just click on
the top option, which is MetaMask and click on Install mathematical
for Chrome. It doesn't matter which
device it is you're using. If you're using a
Mac book, it'll tell you it's to install MetaMask for iOS or installed
MetaMask for Safari. If you're using this on mobile, users want to go
to the App Store. That is not of concern here. Just click on the
Install button. And then for me,
since I'm on Chrome, it's giving me the
option of Add to Chrome, which I will go
ahead and click on. Once I click on
that, the plugin is installed and we can just get started with
our crypto wallet. So just to recap, we went to open, see where it
asks to connect our wallet. And now we've installed the wallet required
to connect to open C. And when we're done setting up this wallet will go back
to that marketplace. So to continue with the process, so let's just click
on Get Started. And if you previously
have an existing wallet, you can just click on input
while it right here and input the secret recovery,
recovery phrase. Since we don't have
a wallet right now, I'm just going to click
on create a wallet. And then we have
to set a password. Once you set the password, you can go on to view your
secret recovery phrase. Now the secret recovery
phase is a collection of 12 words which will give you the ownership
of your wallet. So make sure you don't lose it. Just click here to
reveal the secret words and then you can
copy it securely, securely in some place
and then click on Next. Once you click on that, you
have access to your wallet, which obviously will
have zero money at the time because you've
just created a new one. So you can just
go do an exchange and funds and add fonts.
You want it that way. And after you've done that, you can go back to open C dot io and click again on that connect
to your wallet option. We're going to click on
mathematic right here. And then this tab is going
to pop up on the right, which gives us the option of
connecting with MetaMask. And it shows us our
account number. And so we can click on Next, and then we can click on
Connect and then sign. Once we sign the signature
regressed on what it will be officially connected to
the open sea marketplace. Now, I'm going to show you the mentoring process
through a test net, which is a testing environment for anything
cryptoclidid related. So you don't have to worry if you don't
understand what a test that is or any of that
technical jargon. The procedure is going
to be exactly the same for you on the real
thing, the real money. So a quick recap. We've gone to open
sea and created a wallet and then
connected, I want it. Now this is the process
to stop minting NFT. You go to the open
sea dot io website. It'll be similar, similar
looking as this one, will not have this
yellow test netball just below the open sea icon. Once you're there,
you can just go ahead and click on Create. And when you do that
is going to give you the option of
creating a new item, add an image name, and all sorts of other options, like the blockchain,
which you're going to select as either a
theorem or polygon, not the test one that, that has been
selected right now. And then once you've
added all that data, like I have right here, I've added the image, the name, the description, and
the supply of my items. You can also take a
look at this option of adding your NFT to a
particular collection. You can just name
a new collection here or select a
previously existing one that your art gets to be part of a
collection of LFTs. And you could also set up
some other infographics and levels and statistics to it. If you want to show a
new medical traits, you can just click on Plus on
this level row right here. And if you want to
show some numbers regarding your LFTs, the stats, you can click on that plus
icon on lockable content if you want to offer exclusive
content just as a buyer, you can also include that
in this NFT creation page. So if you just switch it on and then you're going
to be able to add content that is exclusively
for the eyes of the buyer. Potential buyers, you're going
to display the main NFT, which everybody can
view and purchase. Once anybody has purchased it, you can also add on lockable
content so that you know the buyer gets some
additional value from it. Or you can also add explicit
and sensitive content to your NFT as well. Once you've added
all of this info, you can just click on Create. And your NFT will
be created for you and you can share it on
your social platforms. Once it's created, you
can view all the data regarding this NFT on this
page, on your profile. All data regarding the minting and some other collections
that you might have. Once you've created the NFT, you're going to want to sell it. Once you've created the NFT, you're going to want
to sell it for that, you can just click on this cell button at
the top right here. Then you have the option of creating and setting the price, either a fixed price
or a timed oxygen. And you could also set the
duration in the days that the NFT is going to be
listed on sale for. So I've currently selected
a price of 20 Ethereum. And then we're going to
go ahead and click on this complete listing
button right here. We can also choose to sell it as a bundle with your
other industries. But we're going to do that. We're not going to
do that right now. We're going to click
on complete listing. Once we've done
that, it's going to start initializing our wallet. And you can review
the transaction data, the gas phase, and
then click on Confirm, and then it'll keep loading. Ended up the gas phase
from your wallet, which will vary depending
on the time of day. And then it's going to confirm the 20th DVM price
for our n of t. And we're going to have to sign one last contract before our
listing has been completed. So we're going to scroll scroll through all of this info
and then click on Sign. Once that is done, you can
just go ahead and view the item because it is
now listed for sale. Click on view item and
it shows you your NFT, all of the, all of the data regarding it when it was minted. Men, it was listed for
what price statistics, if anybody voted or not, which collection it belongs to. You can also select,
Cancel listing, edited or lower the
price of your NFT. Editing or canceling
and FDA requires additional gas phase
and you could also lower the price of your
NFT if you want to, if you want to create a
discount or offer it at a special price to a
particular person. So that's all there is
to maintain your NMT is a lengthy process if you're
just getting started, but it's very simple. Once you get a hang of it, there's all there is. That's all they're
estimating and empties.
6. Best Marketplaces To Sell NFTs: Now that we've taken a look
at making LFTs and mending. And if D is less than the best places to
sell our and empties. And the first one of those is something we've
already looked at, which is open C dot io. It has the highest number
of NFT collections. It has the highest trading
volume for them to NFT collection and we'll also has the highest number of users. So it's the most
popular NFT marketplace out that it's very
user-friendly as well. And the first choice for
many artists in general. You have a number of
collections listed on this website which
you can view through the explore page and try to get some inspiration for
your NFT artwork. Aside from open z, variable is a marketplace that has a
reputation for its NFT is being curated and
professional artists who want their work
to be seen that way, choose to list it on here. So open sea and relatable about marketplaces that support
the Ethereum blockchain. They also support a few
other blockchain as well and keep adding to that list
of supported blockchains. But primarily these marketplaces operate on the
Ethereum blockchain. Well, saucy is an
NFT marketplace on the Solara blockchain. And the benefits
that it offers you or lower gas phase for
maintaining your FFTs, managing your energy or
to sell or buy an NFT on the Ethereum blockchain costs
you hundreds of dollars. So it's very expensive to do these things on
Ethereum blockchain, which is supported by
open sea and relatable. So when you use OpenCV
and variable is going to cost you
a lot in gas phase to mint seller by an NFT. While on Solana, which
is also a blockchain, it is very cheap. It only costs $1 or two. And gas phase, but of course
varies from time to time, but around that figure and very cheap relative to
the Ethereum Blockchain. So the sole see Marketplace
is a marketplace that lists LFTs on the
Solana blockchain, which offers the benefits. I just mentioned. Cheap gas phase and
faster transaction type. Dimes. Pancake swap is
another marketplace for LFTs and is based on the blockchain or the
balance smart chain, which is another blockchain
with faster transaction times and cheaper transaction fees. Just like this on a blockchain, but it's not as popular as Solana, particularly for FFT's. The balance matching
is used mainly for gaming LFTs and the
procedure from ending an FTEs on all of these
platforms is very similar to the one we just
went through, an open seat. There are some
slight differences. So it's not going to be
a big problem for you. If you want to use the most
popular blockchain out there, you might want to
go with OpenCV and terrible because they're
both based on Ethereum. If you're listing gaming
and FTEs and pancake swap, maybe the most viable option for you if you're just
aiming for cheaper, minting v's and selling
and buying these. Sulci might be the way to go. And of course, you can also have your own website
to sell enough to East based on a blockchain
of your choosing. So you could create a
marketplace yourself. And connected to a
blockchain of your choosing. You could take some
of the inspirations from the artists that
we've looked at and their websites for your
own website and cellular and empties
directly from your own site. But of course you do that. You need to have some
irrelevant coding knowledge regarding developing websites
and selling on them. You could hire a developer, or if you're a
developer yourself, you can make it on your own. But that is also an option
that is available to you.
7. Which Cryptocurrency To Sell In: When you come to the stage of
listing your NF2 for sale, you might want to decide which cryptocurrencies
to sell your NFC. Again, if you've already chosen an NFT marketplace
beforehand, e.g. you've chosen open sea
as the NFT marketplace. Or maybe you even chosen multiple marketplaces
to cellular energy on, you'll have multiple options for the cryptocurrency that you
want to sell your NFT in e.g. on open z, you've
got the option of selling and FT on Ethereum. And you can also
sell it on polygon. So you might want to decide between which cryptocurrency to use to list the
price for your NFT. And we're going to look
at the advantages and disadvantages of the options
that are available to you. The four most popular
cryptocurrencies out there that are used to sell
these or a TVM polygon, Solana and the violence
chain and their popularity. So not the balance
matching B and B, which is the token,
the minus matching. And their popularity is in this particular order where
Ethereum is the most popular, followed by polygon, which
is a cheaper alternative, and then Solana
and then the B&B. So if you were to sell
a list your NMT in the team blockchain price
them in a theorem that is, you'd have the advantage
of Italian being the most popular
cryptocurrency for exchanging. And if D is buying and selling, and so you'll have a wider
reach after you collection will be available to a wider
audience because more uses, all these helium and
their wallet compared to users that hold other
kinds of cryptocurrencies. But a disadvantage
that you're going to have is that the
buyers and sellers of urine empty collection will
have to pay a high gas phase. So this will exclude
users who can't afford that gas phase
of 100 or $150. If you were to list
your NFT on polygon, It's not as popular as Ethereum, but it still has a
massive user base. And it's also
supported by open sea, which is a very popular
NFT marketplace. And polygon is
popular because of the primary reason that
it has low gas phase. So it's good for low price and FTEs polygon that
you're also reaching the low-income and low
net worth individuals that are going to be interested
in your NFT collection. If you were to use Solana, which is an up-and-coming
blockchain. It's gaining popularity
because of its low gas phase. It's fast transaction time. And also the NFT collections on the salon and
blockchain are also growing and more crypto
products are popping up. So more users are ending up holding Solana in their wallets. So it will compete with
Ethereum in the future. And it's also a viable option. Of course, if you
want to use Solana, you won't be able to
list your open NFT on the open sea marketplace
at the moment, but open z is set to integrate. So on as well into their list of supported
cryptocurrencies. You might not have that
problem in the future. If you want to
sell your energies on as a learner blockchain, you might want to use sulci as the primary marketplace
for your LFTs. Moving on to the
binary smart chain, which has a B&B as
its native token. If you use B&B,
you're going to be offering your buyers and
sellers a low gas fee. Faster transaction time. With this blockchain is not remotely as popular
as the other ones. Generally when it comes to, particularly when it
comes to lefties. But if you're an FTEs
are related to gaming, then this is also a good
option because NFT, because gaming, and if these are booming on the balance
marching currently, there's really two
decisions you have to make. What blockchain to Jews, and where to sell your NFT, which we discussed in the previous video where we looked at different
marketplaces. Once you decide
on a marketplace, it automatically narrows
down the blockchains that you use to
choose to mentor NFC. On. One strategy could be minting on both
Ethereum and Solana. And just wait and see which
blockchain takes over with the passage of time
and you can play it safe. Or maybe if you have
some other benefits with any of these blockchains, you can just list your
NFT on that blockchain. Now that you've decided the marketplace and
the blockchain, let's take a look at the
actual pricing of lefties.
8. How To Price Your NFTs: Let's come to discuss
what the pricing of NFT collections shouldn't be. So whenever you're starting out selling your NMT collection, you might want to get
some market data on NFT that are in the
same category as yours. Maybe you're selling music
entities or even gaming FFTs. You might want to get in those NFC markets
and take a look at how those are priced and what trading volumes
they're performing at. Let's say if you're selling
music tracks as LFTs, so do take a look at LFTs
in the music category. You could go to any of the marketplaces that
we've discussed. Go to the categories page
for them by category, and take a look at
all the music LFTs, how they price their
collections and decide on your own intuition whether that price point
looks right to you. Apart from market observation, that are some other
decisions that come into play when you're setting
the price for your NFT, such as the number of
entities that you're putting up for sale and the
number of copies, each particular NFT,
the value you're providing with UFT on
the exclusive features. Let's start off with
the number of entities. If you're NFT collection has, let's say 1,000 FTEs it
to be worth a lot more than a similar NFT collection that has 20,000 entries in it. Because of the larger gap
between demand and supply. The lesser the supply
for, the more, the more the price of
each individual NFT. Let's say you have an
NFT collection of 150, and each NFT in that thousand
has three copies of it. So that means a total of 3,000 items in your collection
when compared to another thousand NFT
collection which only has one single
copy of each. And if D, the collection with
a single copy is going to be worth more than the one with three copies of each
unique and have tea. And so that needs to be
taken into account as well. Aside from just numbers, some unique features that NFT
has also affect its price. Maybe it's very
aesthetically pleasing. Maybe it has an
unlikable content like a video attached to it. Maybe it's unique, never
before seen form of art. So you're providing more
value than the competition. Also, an NFT is exclusive features that we're going to discuss in detail
in a later lecture. Features like, does your NFT provide its owner with
tangible benefits? Maybe it gives them access to some event or voting rights to decide on the future collections that you're going
to be releasing. The exclusive features
that you're offering, that you're offering
with your empty do increase the price as well. You could also use pricing
as a marketing tactic. Maybe lower the price that more people are able
to afford them. So that could be one
pricing strategy. You could also increase the flow price
steadily of your LFTs. Maybe start off
with something very cheap, e.g. 0.1 eighth. If you're using the Ethereum
blockchain and then raise it steadily all the way to one
eighth and stuff like that. So that just as the demand keep in
Crete keeps increasing, the flow price also increases. That could also work to encourage people to
buy them early and not wait for the future where they're going to
become more expensive. It's also important to note
not to think of your NFT. He's in terms of fears
because that's not how, that's not how the
market functions. Just look at the market data and the competition, and look, not look at the dollar
value because one is $11, looks like a huge
price, about $3,000. But a lot of LFTs are worth
fairly more than that. You just wanted to
think in terms of E and the market for that
particular NMT. And that's how you want
to price your NFT. You could also hold auctions, particularly on open z, which gives you the option of listing your LFTs for oxygen. It's a very popular way to
cellular and FTEs because, because it lets your
fans decide how to price your DFT instead of
redesigning it yourself. So some takeaways
from this lecture. The utility you, you
offer on your NFT is very important in how your
NFT is going to be priced. And you also need to
be patient because these things don't take
off right from the get-go. They take some time to
gain popularity among the audiences to really
appreciate what the NFT is about. The features that it offers also matters to the
pricing of the NFT. If you're new, you would want to experiment with the
pricing of unit of t because nobody gets it
right in the first goal. It's also beneficial
to think in terms of long-term royalties rather than just the first selling price. The long term benefits
that you NFT is going to offer its
holders will be essential to its
success and earn royalties even well
after you've launched. So don't worry about the first sale that
you're going to make. Worry about the
long-term royalties. And as long as you keep
offering benefits, as long as your FTEs are
exclusive and their features, or you're going to be earning those royalties in the long run.
9. Promote Your NFT Collection: So you've successfully
created your NFT, minted it, listed it
on NFT marketplace. It's all going to
be for nothing. If you don't successfully
promote your NFT collection. The best form of promotion for these LFTs is through
social media. Promoting these entities on social media is the best
way to go about it. And a popular platform
nowadays showing huge growth, especially for NFC
collections is TikTok, which has amassed a
massive user base in the past couple of years. And right from the get-go, you get a huge set
of eyes, your books. So you might want
to create a TikTok and post videos of either your LFTs are the
features that they are packaged with me, or even post content that is personal to you to
get an audience going and interested in you
as a person or as a brand. And then that interest also flows over to your
NFT collections. Since TikTok is a very
fast-growing platform, it's a very good
social media strategy to promote your
collection on TikTok. The second place
that you could use to promote is Twitter. And we looked at this
with multiple artists. We've covered that they
all had a Twitter page to reach out to their followers
to keep them updated. And we also looked at Rona with LinkedIn or
Twitter bio toward our collections and also some of the hashtags that she
is interested in. Which gives you more of
an idea of what kind of artists sits behind
that Twitter page. So a really good platform and the most popular platform for artists to engage with
their followers is Twitter. So you might want
to take me to make these two places mandatory, even a must for your promotion. Then we have Instagram. A lot of artists along
with their Twitter also have an Instagram to reach
out to their followers. Just like people here who posts every day art here on
people dashed crap. And these are free Creative
Commons visuals here. So a very nice way to engage with this 2.5 million followers People's daily and gets an
audience, get keeps us all. It's posted as to what
is upcoming or what is happening in his daily life
and all sorts of that stuff. So these marketing strategies are very useful if you want to, if you want people to show
interest in your collections. And also, we have the
fourth option, discord, which is a hyper
engagement platform and upcoming social media platform
with high engagement. And even if you go
to a community of 1,000 or 2000 small following, this code is a good
place to bring them, to make them hyper engaged in your drawer,
in your projects. This codes that are related to energy collections
and have people that are posting daily
questions asking help. They engaged on the Discord. These NFT collections that have discord setup
for themselves have seen a massive growth
of D trading volume. Because any question
their followers may have regarding utility, that future roadmap and the plans they have for
the NFT collections can be answered easily through this just called
messaging platform. And so it also keeps the computer community
engaged as well. It's a very good place
to start to have an audience that is
interested in your OT. And these are the
full best places you can promote your
NFT collections on.
10. What's Trending: When coming up with
your own collection, it's also beneficial to take
a look at what's trending in the NFT space and how
we're going to catch on to those trends and incorporate them in our own collection. The most popular trend among NFT collectors are animated
characters or creatures. E.g. the most popular one, the board ABR club
and even others like budget penguins
and crypto fonts. One is based on apes and the
other is based on Cartoon, penguins and crypto bunks. Ai generated characters. So these animated creatures are really popping up
among the space. Just like we saw in
the crypto space. Coins based on dogs like
Dogecoin and Shiva. What booming. So more
and more projects were popping up with these
adult based names. Similarly, in the NFT space, animated creatures are pushing forward the trend for
that particular type. The second thing that's
creating a lot of hype is giving away IP control. Giving the control
to NFT owners to use your IP intellectual
property as they pleased. E.g. both ape and other NMT collections
allow their holders to use them for
their own branding. Use the LFTs for
their own branding. They can display it
on their profile. They can use them on any
business they start or acquire. E.g. some guy who
had bought a boat, a penalty started a restaurant based on the name of the
NFV and also offering the holders of
that and after the collection and exclusive perks and benefits as
board a restaurant. So that's one creating
creative way of hyping, of hyping up urine
empties by giving away the IP controls so
that the bias holders, the acquirers of your artworks, can essentially
market your project for you in their own way. Here's another thing that
you need to explore, the metal list, the gaming
entities are also booming. People are able to trade
collectibles, sold, guns, articles of clothing inside of games, using their
cryptocurrencies. And those digital items
are treated as LFTs. You can, even by land
or by experiences, get tickets to concerts. So the metal verse is also
something that's trending. You could create a
wholesome experience for your fans or your viewers
to explore your metaphors. Let's say you bought,
landed some NF2 projects. And you can invite your
fans onto that land. And they can join an online
and experience your artwork or your creations live. You can also design
land in these games. A company called every realm.com specializes
in just that. In games such as sandbox and
decentralized these games. Games allow you to
buy land in them. And so every lamb, every realm goes about
buying land in these games. And then the designs them
creates experiences for users, create aesthetically
pleasing structures, and then resells those
lands at a higher price. So we are, there are literally architects and designers
moving into this space too. For this creating experiences in virtual land and
designing our structures. You don't have to be
a fashion enthusiast, musician, or just to conventional artists
in the pure form. It can also be any type of
person like we just discussed, even architects joining in
on the fun and designing land for users on
the blockchain as well and silicates as an NMT. We also have music
entities which ad as a great side income
stream for musicians. Because whenever
someone sells your NFT, you continue to get
royalties on that NFT. You can sell your music tracks
in the form of entities. If you launch a particular
music track that is an NFT and then you make
multiple copies of it and sell it to your fanbase. That's also a possibility
that is available to you. The most prominent
example that is making, that is taking
advantage of this. It's Tory lanes. He just launched a song or music track and he's selling
20,000 copies of it, all worth around $1 or
something around that figure. And you get a chance
to own that NFT and that music track for yourself and have
that tracked as well, then the price and the
NFT will increase. And you'll also be able
to make a profit from it. And however, many times
that music is sold, the original creator gets a percentage as
royalties from it. Then we also have real-world
experiences inside the metal waste and also
augmented reality, e.g. people can wear
Google Glasses or Oculus VR and view
your art real life. They could pop on those
gobbles and see your artwork displayed as augmented
reality in their own houses. Or they could join
and experience in the metaphors and experience
your art virtually. Then we've also got
fashioned LFTs. Fashion denies that designers can design articles of clothing, has an F as LFTs and
publish them for their fans and create a
community around them. And of course, social
media is also very crucial to grow and maintain a following
around your brand. Instagram, Twitter,
TikTok, you went, you might want to use these
to grow your following. And those are some of the
trends that you need to keep an eye on to stay
ahead of the curve.
11. How To Offer Utility: How do we offer utility with INFJ is the exclusive features, some perks and benefits, along with the NFT outwards. This has been something
that has been developing in the
NFT space, e.g. artists are offering
access entities to give their fans access to exclusive experiences
online and even onsite, which can include
events with celebrities and premium content and more. So a prime example
of this is Gary V. If you buy one of his FTEs, you get an admission
into his live events, into his training events, and you can meet him
off stage as well. And also, some
artists are offering premium content
through their LFTs to that, to their fanbase. Some NF2 collections are making use of the community effect. The ownership of
the nFET gives them access to special communities. E.g. the board APR club has formed one of the most well
knit communities out there. They hold parties and
events to which only bought a holders are invited to. Then we've got
social entities like gifts and emojis and
profile pictures. You know, people
are using FFTs as the face of that
social personality. So that is also
something you can offer, optimize urine empties
so people can display them on their social
platforms. This is 0. That is one other benefit that you can give your fan base. Then we have a voting giving the NFT holders the power
to make decisions towards future events on certain areas that the
organization is heading in. E.g. an NFT collection can give the collection
holders voting rights to what the next step for that particular
collection should be. Should they launch
their own game? Should they launch
their own metrics? Should they be holding
private or public events? All of those decisions
have to be made and NFT holders can be given the power to vote
on those decisions. And that is one
other benefit that you can give to n of t holders. Depending on what type of
collection you are launching, you can leverage some or all of these added features to drive up the value of your collection.
12. Where Do We Go From Here: Now that we've reached the
end of this course, one, I've really enjoyed making, and I hope you learned
a lot from it as well. Let's talk about and summarize how you want
to go about creating, launching, and
marketing your work. Now the first thing that
you've got to do is create a fan base
or an audience. You ideally want to start marketing before you even create your LFTs so that you're able
to build an audience that actually has an interest in
your particular project. People have launched without
a pre-existing audience, but that takes a
while to get going. And it requires a lot of
paid marketing and reaching out to influencers
to spread the word and takes a lot of effort
and a whole team to manage the marketing process after the collection has
been launched. Or you could just stop
marketing beforehand. Start creating your
brand before you launch. Your NFT collection. Build an audience that
has interest in you. You as a person, are interested in your brand and then go about
launching a project. Once you launch the project,
you should announce a roadmap so that the holders of your NFT know that you're
in it for the long run. Not only are they
interested in your brand, but they know that you're
in it for the long run. You're going to be
offering benefits along the way so
that people keep showing interest in your project
and it goes up in value. And this is the reason that incentivizes them to
buy your project. And that is the hallmark
for a successful project. Building an audience than launching the project
along with the roadmap. And then after that, the
last step, of course, will be delivering on
your promises made in the roadmap that will make
your collection successful. Of course, whenever you start something and put
your efforts into it, consistency is what is required. Otherwise, everything
falls on his face. After some amount of time, people start losing interest. If you stop engaging, you
want to be consistent. You want to keep engaging
with your community. You want to keep delivering on the promises
that you have made. And you'll keep receiving those royalties as long as people are buying and
selling, grow LFTs. If you manage to hit all of
these points, there's a very, very high probability
that you will have a successful
NFT collection. And I wish you the best of luck.
The B., Tech Made Easy!
