NFT Use Cases: Gaming

Every day, there are 2 million people who play with the little blobs of Axie Infinity, which now has a valuation of $3 billion. “Gaming is really exciting, as you already have billions of people who are buying digital goods inside of games,” said Devin Finzer, CEO of OpenSea, the largest NFT platform. The reason we haven’t yet seen an even wider adoption, said Finzer, is that “the development cycle is a little longer with games than with simpler arts and collectible projects. There’s a little more of a delay.” He imagines we’ll see the fruits of these developments within a year or two. Jamie...

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NFT Use Cases: Fashion

“Luxury brands are coming to the NFT space,” says Laglasse, while smoking a cigarette on our Zoom call. Exhibit A: On Sept. 30, Dolce & Gabbana sold its inaugural nine-piece collection of NFTs, called “Collezione Genesi,” a surreal mix of high fashion and blockchain, for $5.6 million. The set included both physical items (like women’s dresses) and their digital companions as NFTs. Just two weeks earlier, at London Fashion Week, a new brand called Auroboros, which describes itself as “the first fashion house to merge science and technology with physical couture,” unveiled a line of digital...

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NFT Use Cases Beyond: Digital Artworks

Non-fungible tokens (NFT) are an emerging technology that has already seen a ton of use cases outside the typical NFT application – which right now is mostly for trading artworks and game characters. NFTs can be used to represent physical objects, digital content, or even intangible concepts like intellectual property too. It’s crazy to think about it beyond digital content, beyond 2D or 3D images, but there are several actual practical uses for it too…at least soon. 1. Ensuring Authenticity of Products            NFTs...

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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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