What is NFT Business? Here's How to Get Billions of Rupiah from NFT
Teknoto.Net - A Non-Fungible Token (NFT) is currently a digital asset that attracts public investment. But do you know what the NFT business is? Some people, not only you, of course, will also ask the same thing.
The presence of NFT is indeed a breath of fresh air in the midst of a trend when there is news of a decline in Bitcoin and other cryptocurrencies.
However, there are also many investors who do not know and understand NFT. Whereas NFT can be a lucrative business field. Well, this time we will thoroughly review NFT. Check it out!
What is NFT Business
As the name implies Non-Fungible Token, this NFT cannot be equated with other types of Bitcoin investments or crypto assets. NFT is used as proof of ownership of goods that can be purchased using cryptocurrencies.
The goods sold at NFT are very diverse, depending on the skills you have. Call it artwork, video clips, music, and so on.
Generally, NFT has digital formats, including Joint Photographic Experts Group (JPEG), Portable Network Graphics (PNG), Graphics Interchange Format (GIF).
Interestingly, NFT creations that are considered interesting and unique will be purchased using crypto assets. You can even resell NFT assets that have been previously purchased by other people.
Then, how to start this business? Can everyone get into this business? Curious, right? Let's see the interesting review below!
How to Start an NFT Business
If you have digital work, then this work can be converted into NFT so that it can be sold. Any digital creation can be made as NFT, such as writing, music to video games.
To convert a document to NFT is very easy. Meanwhile, the selling price of the work depends on subjective factors such as creativity, quality, and the seller's reputation among buyers.
After understanding what an NFT business is, now is the time to start an NFT business. Quoted from The Motley Fool, some of these simple ways you can do to be able to start this promising business, namely:
Select Market and Create NFT
Start selecting the right market for NFT. Make sure this market situation is like Amazon for NFT works. You can aim for OpenSea which is currently the largest and most diverse NFT market.
After that, you can link your cryptocurrency wallet, then select the “Mint and NFT” option and upload the created digital work. The process for each market is usually different, but most allow printing NFTs with just a few clicks.
List NFT for Sale
Once the NFT printing is complete, don't forget to register it for sale. Provide transaction details such as auction deadlines to the types of cryptocurrencies that your NFT buyers can use. Here you will be charged gas fees which vary depending on how busy the blockchain network is.
Manage Your List
Promote NFT that has been successfully registered on your website or social media. NFT listings can be changed or deleted, but other fees will apply while prepaid gas fees are non-refundable.
Now, you understand more and more, what are an NFT business and the steps to start it. Interested? Come on, start sharpening your creativity and get billions of rupiah in coffers like Ghozali has done!