I’ve been doing some NFT research for myself, but though I would share in case one else finds some value.

30 second intro to NFTs: https://niftygateway.com/whatisanifty

In depth description of an NFT (and lots more information): https://blog.opensea.io/guides/non-fungible-tokens/#What_is_a_non-fungible_token

So the next thing to understand is that in the world of cryptocurrencies there are many different ones. Bitcoin is probably the one you have heard about but there are literally thousands:
https://coinmarketcap.com/

The second biggest cryptocurrency is called Ethereum and it is also the largest market for NFTs (via https://opensea.io/ or https://niftygateway.com/)

However there is a problem with Ethereum, it is expensive to make transactions and slow (it currently costs about $12 per transaction – even if you only sent 1 pence to someone it would cost you $12 “postage”) .

Also from a green perspective, both Bitcoin and Etherium are bad, each transaction uses a ton of energy and releases a bunch of CO2

However the second largest market for NTFs is Solana (which is currently the 5th largest cryptocurrency in the world – it’s not just used for NFTs). The good news is Solana is cheap and fast and is much greener than Bitcoin and Etherium.

The NFT market for Solana is centered around https://solsea.io/

So what would you need to get up and running, well to sell NFTs you would need to have a Solana wallet (address) and a very small amount of Solna (probably just to pay listing fees or sign your work so to speak)

I’d recommend starting with a software wallet like https://solflare.com/, and later if you start selling more I’d recommend you buy a hardware wallet (https://www.ledger.com/ or https://trezor.io/). A software wallet can be hacked but is easier to get started (and free), while a hardware wallet is more secure but more techie and costs money.

You can easily buy Solana from https://www.moonpay.com/ and send it directly to your wallet.

Now you should be able to upload a scan of one of your paintings or a load of them and sell them.

I’ve seen some people have a single instance that allows for the first owner to redeem the art work and actually have the original sent to them but most people treat it more like prints and create a limited set of digital prints and sell each one ignoring the physical edition completely.

I also came across this company that sells software to create virtual art galleries  https://vrallart.com/ and I’ve seen a few of the better NTF artists use them.
The video here https://vrallart.com/#about-us felt very compelling.

Anyway, I think that’s enough of a brain dump! Well done if you got this far.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.