If 2017 was the year of the ICO, and 2020 was the year of DeFi, 2021 is very much the year of NFTs. NFTs have caused a stir in both the cryptoverse and in the mainstream media with news that one of the major NFT marketplaces is now turning over in 24 hours the same volume as in the whole of 2020.
Many famous names are jumping aboard the NFT train, by buying, minting and selling their own pieces, and private collections. Messi perhaps is the most notable in the last few weeks have turned over more than $2.5 million dollars in the first day of the auction of his private collection on the Etherenity Chain.
What is minting and how do you create your own NFT?
First, it is important we understand that NFTs unlike cryptocoins are non fungible. That means they are absolutely unique and cannot be replaced by any other token, in the same way a piece of art cannot be swapped for another. Conversely, a coin like Bitcoin holds the same value as any other Bitcoin, making it interchangeable and fungible.
Minting an NFT means making it from nothing. The standard token for an NFT is the ERC721 token, which is a smart contract. This is an ERC20 token with tweaks. Each one of these ERC721 tokens has been programmed to be authenticated on the blockchain and each is unique (unlike ERC20 tokens).
It is this classification as an ERC721 which makes the token an NFT. Minting of these tokens classically requires programming or coding skills. For artists who don’t know how to code, they would tend to hire a developer. Otherwise, they would have to code it themselves using Solidity or Javascript code.
Minting NFTs without using code
One tool that is changing the face of the NFT realm is Unifty. It is a product and platform that gives those who want to create their own NFTs tools to create them without having to use any code at all. This saves time, expertise, and money on using expert developers to turn your art or media into a unique token, and means anyone can create NFTs at a very low cost.
Unifty also offers a way to build your own marketplace, where creators can go one step further by displaying and selling their own creations. Users can even turn their TikToks into NFTs and upload them to the marketplace, merge their own NFTs into collections and even build their own custom farms for staking ERC20 tokens and redeeming NFT rewards (ERC1155).
Projects like Unifty’s are opening up the world of NFTs to everyone, to bring this exciting area into the mainstream. They are effectively democratizing NFTs, so they are no longer just for those who can code. In a simple step-by-step format, anyone can create their own unique pieces, without the need to know a single line of code.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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