Over time, the consistent dynamism incurred in the NFT space has grossly enhanced the creation of digital arts. As things stand, creators who possess technical expertise in the trend convert digital arts into Non-fungible tokens without any hitches. This process, however, requires only the possession of a functional computer system, coupled with a high degree of creativity. Accordingly, this opinion seeks to accurately reveal how creators of digital arts can convert their respective digital contents into NFTs.
What are NFTs?
Now, the Non-fungible tokens (NFT) manifested as a digital assets, traded using blockchain technology. With this feature, creators become eligible to relay their respective works into the digital market. In recent times, crypto investors grossly see the token as a platform to foster the digital economy. They usually see the several benefits incurred in the decentralized finance platforms cemented on crypto.
Accordingly, The NFT market makes it possible for anything to become traded or sold without hitches. The virtual tokens appear similar to bitcoin or Ethereum because they remained solidified on crypto-like programming. Despite the similarity, it still possesses much distinctiveness. To begin with, cryptocurrencies like bitcoin and others are fungible, just like physical money. This, however, makes it possible to exchange them for one another and consequently become equivalent in value. NFT, on the other hand, appears non-fungible as implied. Each of the tokens possesses a unique code which makes the trading of the tokens impossible.
Furthermore, NFTs become minted via tangible and intangible digital arts, like music, videos, GIFs, arts, video games, etc. Even though Ethereum primarily hosts the tokens, it also secures support from other blockchains. This thus makes it possible for creators to monetize their digital arts/contents on the platform.
To date, every content relayed on the NFT marketplace are not prone to censorship. Its server remains intact all the time as it lacks regulations by any authority. Although applications using NFTs tend to shut down, all data or records still remain intact on the blockchain.
Digital arts in the NFT industry
In today’s digital arena, the NFT industry already pulled over $40 billion in markets through art, GIFs, designs, in-game items, and domains deals. This thus encouraged creators to subscribe to the innovation and make wealth by putting their artworks into the market. By virtue of this, there will be a huge increase in financial inclusion and buoyancy across the globe.
Digital arts manifests through creative and unique art pieces initiated by artists. After creation, those arts become sold and auctioned on marketplaces, e.g Opensea. The conversion of digital arts into NFTs is not rocket science. Since the trend allows for the conversion of varieties of arts, including songs, images, videos, and GIFs, digital artists get mandated to employ graphical software, aligning with the form of the intended piece of art.
How to convert digital arts into NFTs
Creators, however, use Adobe Photoshop, Corel Draw, Paint, Illustrator, and other graphical editing softwares. Having determined the appropriate graphical tool, it becomes very easy to convert the created digital arts into NFTs. This process otherwise referred to as minting, which usually manifests as an act of relaying a unique aspect of the token on a blockchain.
Accordingly, minting enables the digital arts to become grossly safe, hard to manipulate, and tamper-proof. Following the conversion, the creators, then auction the NFTs for sale on the marketplace.
For the purpose of minting an NFT, creators, first must register on their preferred NFT platform, usually available on a crypto wallet. Afterward, the creator needs to upload the digital art on the selected platform, including its title and a short summary. Having inserted the details, creators must use the create tab on the platform, a feature that consequently mints the digital arts after the payment of the transaction costs. The newly made NFT then appears on the profile session of the user.
Furthermore, the selling of NFTs usually manifests through the usage of the feature which allows creators to determine the price tag on the marketplace. This approach, however, appears as the most direct, easy, and transparent way to sell the minted NFTs. For some NFT marketplaces, users need to design a royalty percentage, determining the amounts they get whenever their buyer intends to resell the work to another buyer.
Another way through which creators monetize their digital arts manifest through auctioning. This process, however, allows intending buyers to surf and consequently show interest for the NFT. Afterwards, the highest bidder for the artwork gets it in the end.