TutorialsDestiny

Tag: NFT

  • Metaverse Explained

    Metaverse Explained

    Metaverse

    Metaverse is the most hyped word on the internet nowadays.

    It was first coined in 1992 by a sci-fi nobel writer Neal Stephenson to describe a 3D world.

    Once it was science fiction but nowadays it is getting closer to reality due to advancement in various tech sectors like Blockchain technology, Augmented reality and Virtual reality.

    What is Metaverse?

    Metaverse is a virtual universe simulated by different computing hardwares, where human beings and artificial intelligence characters coexist. 

    In the metaverse we can play different games, hang out with friends, make official meetings and visit art galleries. We don’t really enter the metaverse; rather our 3D avatar’s controlled by us enter this immersive world and then we interact with others via avatars. 

    Metaverse Presence 

    Question here is whether the metaverse is already present or it’s merely a hypothesis?

    Answer is ‘yes’ it is already present but in its initial stage, it has a long journey to go. VR games like Roblox, Sandbox, decentraland are some of the rough examples of metaverse.

    True concept of metaverse is of decentralisation means not in the control of a single tech firm or government organization but should be controlled, designed and created by its users.

    At present many big tech’s are developing their own form of metaverse. Recently social media platform facebook has launched ‘Horizon’ , Microsoft, Google and many other big tech companies are also progressive in this field.

    Metaverse Future 

    Two decade ago there were  no social media platforms but with the advent of time and technology their number has increased from no to many.

    Nowadays most of us spend a major part of time on these social media platforms. So the metaverse is in that ‘two decade ago’ state soon it is going to take the internet by storm.

    At present you can take metaverse early exposure on various gaming platforms like sandbox, roblox etc.

    Real Estate Growth  on Metaverse

    On Metaverse real estate is  a booming industry. There are many metaverse platforms dealing in real estate. Sandbox, Decentraland, Cryptovoxels and Somnium are some of them. On the Metaverse unit of land is Parcel, you can buy or sell parcels of land on their respective websites or from different marketplaces like ‘opensea’ using cryptocurrency.

  • Create NFT For Free

    NFT Definition

    Any Digital art Like image, animation, video etc minted on a blockchain and listed on a market place is termed as NFT.

    Create And Sell NFT

    To create and sell digital art as NFT you first need to have a crypto wallet like Metamask, Rainbow, Argent, imToken etc. This crypto wallet will be required at the time of login.

    Here we will see how to set up a metamask wallet, it is an Etherium based cryptocurrency wallet. You can store and exchange ‘Ether’ and etherium based NFT in this wallet.

    Metamask can be used as a web extension or mobile wallet application, best and easiest way is to download Metamask app from the app store.

    Once installed and configured you will get above type of page here you can edit your wallet name as per your choice.

    Marketplace selection 

    Now after we have successfully set up our crypto wallet we will proceed to select the best marketplace for our NFT.

    Here are some of the places where NFT’s can be bought or sold.

    https://opensea.io/

    https://zora.io/

    https://rarible.com/

    Marketplace selection depends on various factors like 

    Blockchain Gas Fees (Minting  Fees) :  Gas fees is the main deciding factor, before selection of the platform check out the gas fees.

    Blockchain gas fees are  high for etherium blockchain due to its popularity among NFT lovers whereas some newer blockchains have less or nill fees

    For example you can mint your NFT for free on Blockchain polygon on 

    https://opensea.io/

    Listing fees or brokerage commission: listing fees of different marketplace  also vary as per their popularity

    Popularity of Marketplace: popularity of marketplace is also one of the important factors of your NFT getting sold. So before selecting the place do a web survey for its popularity.

    Create and Sell

    Here, we will select opensea as the marketplace and polygon as the blockchain.

    First of all visit the website

    https://opensea.io/

    On ‘opensea’ click on create button then on next window click on “walletconnect” if you are using same device on which wallet is installed Otherwise select as per your requiremets. 

    If You click on walletconnect your wallet will launch and once you give the sign in permission you will be logged into the opensea platform.

    Caution: NFT is a growing technology so the risk of scams and hacking are also high so be extra cautious while giving any permissions or visiting URLs.

    After you’ve successfully logged in again click on create button this time you will be redirected to page where you have to browse and upload your digital art, give it a name, select the blockchain on which you want to host your NFT. Keep in mind etherium blockchain charges fees whereas polygon network is free at this time.

    So you can start on polygon and thereafter move to etherium  blockchain when you feel it necessary.

    So move on and create your First NFT share your experience in the comment box, if you face any difficulties in above steps please do write below in the comments.

  • NFT Basics In Simple terms


    NFT

    The word NFT is among the most searched google words in the year 2021.

    NFT stands for Non-Fungible Tokens in simple words Non Fungible Token means Non Replaceable Tokens means no one can ever replace the record of creator and owner from a blockchain once created of your digital arts linked to a blockchain. Mainly NFT’s are minted on Ethereum blockchain but alternative blockchains are also available .

    Non-Fungible Tokens and cryptocurrencies like Bitcoin and Ether are the initial application of “Blockchain”  technology. Crypto experts around the world are trying to harvest the hidden treasures of Blockchain technology.

    Most hyped words like web3, metaverse, NFT are the start of a new kind of internet as we know today.

    How Does NFT Works

     NFT is one of many upcoming applications of Blockchain technology.

    Anything in digital format like still jpg , vector drawings, songs, any audio, video, an article or an e book once minted on a blockchain and listed on a NFT marketplace can be termed as NFT.

    NBA top shots, Bored Ape Yacht Club, and Important events video clips are some of the examples of NFT.

    If you own any digital asset you can sell that on NFT marketplaces like opensea, rarible, Zora, curate etc.

    Create/Buy/Sell Your First NFT

    To create, sell or buy NFT, visit any available NFT marketplaces, connect your crypto wallet with some etherium balance in it to pay for the minting fee.

    Upload your digital art, select from the available blockchains and create your first NFT. Once Someone buys your digital art you amount is directly credited to your wallet linked to the marketplace.

    After connecting your crypto wallet you can also buy NFT’s already listed on the marketplace, there are millions of NFT’s waiting to be sold.