NFT Use Cases: Virtual Land

A wise investor once said, “Land. It’s the one thing they can’t make more of.” The investor was Lex Luthor. And his advice might ring true in the metaverse. Virtual worlds like Decentraland, The Sandbox and Cryptovoxels give their real-estate a hard cap, meaning that – in theory – a finite supply will become more valuable if the demand soars. “This is quite promising,” said Matty “DCLBlogger,” an influential voice in the NFT community who has been something of an oracle, dashing off a widely-shared Twitter thread in 2020 – over a year ago! – that outlined 25 future use cases...

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How and When to Sell Your NFTs

Knowing when to sell your NFT is a key part of NFT trading. It’s hard to know the perfect moment to sell, but here are some tips for profitable flips. Have an exit strategy An exit strategy is your plan on when you are going to sell the NFT and we recommend making one before you buy. The factors to look for when timing the sale are different if you’re planning a short-term trade vs a long-term one. If you don’t have a plan it’s difficult to spot those factors and make a rational trade. Not having a plan can lead to trading solely based on emotions like fear and greed, which can...

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How to Buy an NFT

Once you’ve decided a certain NFT is the one you want, click Buy Now. Check the boxes and click Checkout. You’ll be prompted by MetaMask to sign the transaction. Sign it to finalize and complete the trade. Wait for a few minutes until your transaction is confirmed… Congratulations! You now officially own a unique token on the Ethereum blockchain. And perhaps more importantly, you own an artwork that you like. To see your artwork, you can click on Back To All Items or go to your profile and relish the fact that you, out of the billions of human beings...

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How to Make an NFT

Non-fungible tokens, or NFTs, are exploding in popularity these days. People are paying big money for these unique collectible cryptocurrency assets. One NFT by the digital artist known as Beeple sold for a jaw-dropping $69 million in early 2021, while many others have fetched multimillion-dollar sales prices. The potential for big money is leading more people to create NFTs in the hope of cashing in on the current craze. Here’s a step-by-step guide on how to make (i.e., mint) and sell an NFT. 1. Pick your item Let’s start with the basics. If you haven’t...

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How to connect MetaMask to OpenSea

To use OpenSea, you need to have a cryptocurrency wallet. The most popular ones are MetaMask, Coinbase Wallet, and Trust Wallet. MetaMask is recommended as it is specifically used for interacting with the Ethereum (ETH) blockchain. You need Ethereum to mint or purchase NFTs. Ethereum is also needed to pay for gas fees to complete transactions. How to connect MetaMask to OpenSea To connect MetaMask to OpenSea, you need to install MetaMask. After you’ve installed MetaMask, open the OpenSea app, tap on “Profile”, and tap on “MetaMask”. Lastly, tap on “Connect”...

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Opensea

What is OpenSea? If you know your ERC721 from your ERC20 tokens, chances are you’ve frequented OpenSea in 2021, at least briefly to see what all the fuss is about. If not, here’s what you’re missing. OpenSea is a decentralized marketplace that enables the buying, selling and trading of rare non-fungible tokens (NFTs). Once proclaimed as the “eBay for CryptoKitties”, OpenSea has expanded beyond collectibles to become a marketplace for other types of non-fungible assets such as game items, music, domain names and many more. The platform is the...

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What are NFTs used for?

Here’s more information of some of the better developed use-cases and visions for NFTs on Ethereum. Digital contentGaming itemsDomain namesPhysical itemsInvestments and collateral Maximising earnings for creators The biggest use of NFTs today is in the digital content realm. That’s because that industry today is broken. Content creators see their profits and earning potential swallowed by platforms. An artist publishing work on a social network makes money for the platform who sell ads to the artists followers. They get exposure in return, but exposure doesn’t...

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How do NFTs work?

NFTs are different from ERC-20 tokens, such as DAI or LINK, in that each individual token is completely unique and is not divisible. NFTs give the ability to assign or claim ownership of any unique piece of digital data, trackable by using Ethereum’s blockchain as a public ledger. An NFT is minted from digital objects as a representation of digital or non-digital assets. For example, an NFT could represent: Digital Art:GIFsCollectiblesMusicVideosReal World Items:Deeds to a carTickets to a real world eventTokenized invoicesLegal documentsSignaturesLots and lots more options to get creative...

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NFT examples

NFTs are a special kind of cryptoasset that is part of the Ethereum blockchain. Each NFT represents a real-world object like music, a video, an in-game item, or a virtual baseball trading card. These digital assets are bought and sold online, typically with cryptocurrency. Things like physical money or bitcoin are “fungible,” meaning they can be exchanged for one another. Non-fungible tokens are unique, and each one has a digital signature that can’t be exchanged. The owner of an NFT can verify ownership using that digital signature. Top NFT Examples Beeple’s “Everydays: The First...

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