“GM myfellow artists” as an NFT community seems to like to say every morning. I think many people are still wondering, “What is an NFT?” Or “Why is NFT important?” Or “How do I sell NFT?”
I’ve been thinking the same for a while, and these are my thoughts on exploring the market and the culture around it. A few years ago, I turned my photo in a different direction, taking fine arts to be precise, traditional archive photo paper with acid-free mounts and sustainable sourcing frames, and free hanging aluminum prints. I wanted to make a limited edition print on both. ..
I planned it all and sold them, but then NFTs appeared in the photos and took over my thought flow. If I were an NFT, would they help fund my personal work? Why am I afraid to join when others seem to be living a good life from this strange network?
So what is an NFT?
NFT stands for “Non-Fungible Token” and basically means that each NFT created is unique and cannot be replaced by another.
There is a comparison between NFTs and Bitcoins, you can replace one Bitcoin with another, you can’t tell the difference, but you can’t do the same with NFTs. Once mounted, signed, and numbered, like fine art prints, any format can only be created once. Or, as it used to be, it’s another topic on another day.
If you’re wondering exactly what you can buy and sell as an NFT, the answer seems almost digital. Art, photos, animations and music can all be NFTs, but Twitter founder Jack Dorsey sold his first tweet for a stunning $ 2,915,835.47.
It’s just angry. Who cares about his first tweet on a platform designed to be the voice of everyone in the public domain? Also, why so much money for someone so meaningless when a real photographer or artist is creating a great physical work that can be hung on the wall and inherited over time. It’s annoying to spend.
So I’m a photographer, as most of you know, #NFTs are interested in me, I still want to make physical prints, but maybe they’re my personal job May help fund things with. sell? Teach … # NFTCommunity #nftphotography pic.twitter.com/gaW0VRtK2HMarch 14, 2022
So why am I scared of NTFs?
First, I don’t understand the whole network about NFTs. I can hardly understand Bitcoin. Bitcoin is $ 100 (or should say $ 80 now thanks to the dip), so I would like to get involved in this new thing.
I also sent a tweet that I wanted to know more and tell me, is this something I have to see? I see and hear great stories about the platform, but what really scares me is the initial cost of “creating” the work.
Now, it may sound old-fashioned, but if you spend $ 500 on paper, ink, mounts, frames, etc., you can actually see your investment. I can touch it and use it to generate equal or hopefully more work for my investment on a practical scale and the payment process is simple. I order and pay for materials and print the products they arrive and sell.
If you want to use NTF, you need to register your online wallet first, which is already starting to sound very dangerous. Once set up, you need to invest in the platform and redeem your hard-earned money in this online lottery currency, Ethereum (which is market dependent and therefore has multiple cost factors at first). Send ETH to my online wallet, pay for the auction site and “mint” my work. Basically, set the sales amount of art.
For example, if you want to set the image below to, for example, $ 1,000, you could be charged a “money” gas charge of up to $ 300. Second, if my artwork is sold, I also need to provide a service fee to the marketplace where I sold my work. It understands that the same rates apply as if there were physical prints in the gallery that you would like to hang and sell. I want $ 1,000, but the gallery cuts it down or hangs at $ 1,500. $ 1,000 and the gallery is $ 500. This is a situation that benefits both parties.
But when you’re forking hard-earned cash online, that factor can be very daunting. You start wondering if your artwork will sell, and you’re just wasting your money because you can’t physically see your investment around you.
Another source of fear is the community. They all look very nice, but most of the time, after these GM tweets (by the way, GM stands for Good Morning), you usually get “Who should you invest in and share your work today?” Followed by. I’m convinced that it’s the best community to get involved with and those who are deeper involved will say that.
But what outsiders are looking at is that the same name, person, collector, and photographer promote each other’s work and invest in each other. As you can imagine, they just invested in their work.
It looks like an old “follow4follow” base that has long been told not to participate in all social platforms. This is the actual money talking about being exchanged on the left, right and center. And hey, if you invest in someone’s job and they want to repay it, that sounds great, but to me that great gesture seems to be shared throughout the community.
And that questions me: will the NFT bubble burst if someone doesn’t invest, or if the collector just collects and holds their items for a long time like a traditional art collector? ??
I think what I’m trying to express in this work is that there are still many questions that many other people have about NFTs that don’t really have an answer, other than “should be done”.
But it doesn’t pay the bill. And I think the top ones should be more open about how they make money – others learn about this strangest network and gain some valuable knowledge. Just to be able to. Hey, maybe then I might “mint” my first NFT!
read more:
What is NFT
How to make money with NFT
How professionals sell NFTs
More NFT Madness
