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A Guide For Influencers: What is an NFT, and How Can You Use It To Grow


NFTs have been the topic of much buzz and discussion off late. Non-fungible tokens, or NFTs, are being heavily bought and sold by celebrities, artists, and seemingly everyone on the internet. The top NFT platforms such as CryptoPunks and Sorare have trading volumes of $1.04 million, and $351.09k respectively. But how does NFT creation and trading work?


In this article, we’ll break down what an NFT is, and how you can boost your earrings by getting in on the NFT game.



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What is an NFT?


NFTs are digital assets which let you store personalised information and enjoy autonomy over creative work more. More than traditional cryptocurrencies, NFTs are flexible and amenable to a creator’s specifications and assessment of the NFT’s value. In other words, NFTs allow an influencer to regulate the economy for their work - how scarce your product is, is entirely up to you.



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Each NFT is unique, and, as the name suggests, non-fungible - meaning that it cannot be exchanged the way cryptocurrency can. It is a collectible asset which is both a currency, and a valuable piece of art or culture in itself.


NFTs can be digital art, music, event tickets, GIFs, or anything, really - that’s what makes them so lucrative for artists and gamers in particular. Copies of an NFT still retain some value, but like duplicates or reproductions of art, they do not have the same worth as the original NFT.


Does it make sense to get into NFTs right now?


Yes, the hype has been unreal. But will your investment in an NFT depreciate in a matter of months once the buzz dies down? Are NFTs sustainable investments for artists at all, or are they a risky affair? The answer is - no one knows, yet. Some artists illustrate the potential for NFTs to entirely change the cultural landscape and the way we value or consume art. Others see NFTs as a product of the pandemic, and do not see longevity in the concept of an NFT.



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Depending on where you fit into this debate, it’s important to get your timing right and do your research. Some questions you might want to ask yourself before purchasing an NFT:


What are the terms and conditions of this trade? Precisely what is it that you are getting?

Is there room for negotiation of the terms? How does copyright and licensing work with your purchase?


How does it work?


NFTs are part of the Ethereum blockchain, which is basically a form of cryptocurrency specifically designed for artistic production and gaming output. Resultantly, to trade in NFTs, most platforms require cryptocurrency of this blockchain, which is called Ether.



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To acquire some crypto, it’s also a good idea to set up a digital wallet to make the transactions more convenient. Connect this wallet to the NFT platform of your choice - Rarible is a pretty intuitive platform - and you’re all set to upload your first NFT.


What comes with an NFT?


NFTs are actually constituted of 2 separate entities. The first is the token, and the second is the content itself. The mechanics of NFTs involve content, and this content can be embedded into the NFT such that the NFT can be streamed or downloaded to provide the content. At the same time, the NFT is not the same as the content itself, and is more of a connection than a work of art. Thus, there can be NFTs without content too.


Where can you build your NFT?


There are several platforms available for you to choose from. We’ve listed 3 great options for creators here. First is Rarible, an LA-based NFT platform that houses art, music, photography and domains. It was launched in 2020, but one of the things you may notice is that the landing page can be quite crowded. Don’t be overwhelmed by the trending NFTs and all the available options. Rarible charges a 10% royalty fee.


OpenSea is a marketplace founded in 2017 in New York, and its interface is very user friendly. OpenSea is a good place to start, because it’s easy to use, and lets you import work from other platforms such as Rarible.


The third marketplace of note is SuperRare. SuperRare is based in Delaware and only supports Ethereum. Further, it is more exclusive than the others because you can build and sell on its platform only if you’ve been invited to it. This means that SuperRare has well curated content of a high standard, and that the ratio of creators to consumers is regulated to ensure a positive experience for both parties.


How should you build your NFT?


NFTs are very trendy as assets, but using them smartly means not just jumping on whichever artistic bandwagon is making waves on the platform today. Instead, think about what you as a creator can offer in terms of long-term artistic value. This is what marks out NFTs as investments, and generates value for your personal brand.



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At the end of the day, NFTs are a great way to set yourself apart from others in the market. There are hordes of content creators on Instagram, but few have invested in themselves by entering the NFT game. If you play it right, NFTs can be a stimulating and creative source of income that will add to your brand recognition, and get the right kind of attention from growth-oriented investors and consumers. Good luck!






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