We have already given a general overview of what NFT is and what the situation is in its markets. In this blog post I want to highlight the connection that characterizes the typical, everyday activities of a designer and the nature of NFTs.
How can NFTs help a designer?
Graphic designers are becoming popular for their creative work; Given that NFTs are small products that you will have to advertise, this is no different from your day-to-day operations. We have already made a small introduction to what NFT is and review the general situation of its markets.
As for the creative process itself, according to Maiursin Jadeja, you can give NFT a picture, video, gif or picture look and sell it in specific markets accordingly. Additionally, you can select how many copies your work will have, what the differences are and other similar details.
You can advertise on social media as well as on NFT platforms. Anyone can create NFT if they have a computer.
Some distinctive tokens even sell for a few seconds, according to Jadeja, for example the case of Joan Lemercier.
NFT has one serious drawback. Environmentally very polluting environment. A 10 second transaction may require a 2 year supply of studio energy.
It is already clear that NFTs are the most growing aspect of this industry. Consequently if you are interested in this topic, getting involved at this time is not really a bad idea. If you do not know exactly how to create files, of course, you can hire a graphic designer.
Over the past few months NFTs have become very popular and slowly many celebrities are getting involved in this business by publishing their own NFT works:
- Lionel Messi "Messiverse" NFT
- Works by Blake Katherine, Chad Knight, Matt Maitland and MBSJQ sold at all auctions in September this year
- Grimes (Elon Musks ex-wife) sold some of his own work
- Snoop Dogg "A Journey with the Dogg" collection
- Eminem "Shady Con" collection
- Emily Ratakowski "Buying Myself Back"
Creating crypto art has become a summer activity for many teenagers. Both the risk and the reward are greater than buying and selling other traditional types of stocks. Additionally, no financial education or official documentation is required to be involved in this case.
In November, NFTs generated approximately $ 3 billion in sales (DappRadar).
Good start features
Based on several project observations and problem analysis, we can explore 6 key elements that are an almost essential part of a successful NFT. Naturally, this is not a complete list though it is a kind of introduction to this field.
Fairness: The release should be arbitrary (luck dependent) in order to minimize the chance that malicious users will take away the rest of the relatively unique artwork.
No "race" points: When NFT (or any other commodity) is sold cheaply at market price, it is usually purchased on a distorted auction-like basis. Buyers try to make the transaction mined as quickly as possible or add a bribe to help the miners get things done quickly. Promotions like these always give preference to people who are well versed in blockchain technology and have the ability to use tools such as bots, flashbots, Eden; Or even contact the miners directly.
Time Zone: FCFS releases are mostly on any block (in terms of height), with sales coming soon. Whichever block you choose, the time zone will significantly affect your transactions. Because crypto is so popular on the American continent, its a good idea to schedule it accordingly and make it relatively long-term.
Gas-economy: Blockchain transactions are quite expensive (especially on Etherium) so it is important to minimize the number of necessary transactions made by that user
Inclusiveness and Sybil Attacks: It is often in the interest of NFT owners to promote a new release to different types of owners by offering it. This is because diverse voters are a major factor in improving the value of collections in secondary markets.
Credibility: Maintaining key features of the blockchain is an important factor in your NFT release. Which means it should not need to involve the confidence factor too often.
It is also important to add that in addition to the popularity of the market, there is another big plus. You get a certain percentage of the transaction for each sale.