NFTs Got Off to a Great Start for 2022
Ethereum is the leading platform for NFT artwork and collectibles, and Ethereum NFT trading volume on leading marketplace OpenSea is soaring. The Bored Ape Yacht Club and Mutant Ape Yacht are two projects benefiting from the NFT boom. Rapper Eminem bought Bored Ape Yacht Club (BAYC) Ethereum NFT for $450K. Many celebrities are getting in on this, such as: Jimmy Fallon, Stephen Curry, and Snoop Dogg.
REFERENCE: Hayward, Andrew. “Ethereum NFT Market Soars in First Days of 2022 After OpenSea Marks Another $3B Month.” Decrypt Media, 3 Jan 2022, decrypt.co/89653/ethereum-nft-market-soars-first-days-2022-opensea-3b.
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I know OpenSea but I have never used it. OpenSea is the largest, and also the first NFT marketplace. This platform allows you to sell your images, arts and illustrations as NFT. However, I hear you will have to pay lot of money as gas fees while listing your NFT.
OpenSea is a leading NFT marketplace compared to others such as SuperRare, Rarible. One of the advantages of OpenSea is using lazy minting, this allows users to create NFTs on Ethereum for free, NFT creators can put their work up for sale without transaction fees because these NFTs are not yet registered on the blockchain, and most importantly the setup of a wallet that supports such as Metamask, and contains at least a balance, US$100 in Ethereum.
I have heard a lot about NFT's over the past year. I had done some research, but I didn't have much success when they first started this. All I knew is that it was some sort of graphic or animation that you could purchase for keepsake or resell. I had thought about creating a graphic to try and sell it on the NFT market, but I found it to be extremely difficult to sign up, plus all the costs of signing up and listing the NFT. I'm not sure it would pay off in the end for me because I lack experience.