What is an NFT?
Description of an NFT
“An NFT [Non-Fungible Token] is a unit of data stored on a digital ledger, called a blockchain, which can be sold and traded. The NFT can be associated with a particular digital or physical asset (such as a file or a physical object) and a license to use the asset for a specified purpose. An NFT (and, if applicable, the associated license to use, copy or display the underlying asset) can be traded and sold on digital markets.
Copyright
Ownership of an NFT does not inherently grant copyright or intellectual property rights to whatever digital asset the token represents. While someone may sell an NFT representing their work, the buyer will not necessarily receive copyright privileges when ownership of the NFT is changed and so the original owner is allowed to create more NFTs of the same work. In that sense, an NFT is merely a proof of ownership that is separate from a copyright.”
Learn more at: https://en.wikipedia.org/wiki/Non-fungible_token
Good crypto basics at Coinbase.com: https://www.coinbase.com/learn/crypto-basics
What am I doing with NFTs?
NFTs are the current rage along with cryptocurrency and the blockchain. Creating art and selling it across the internet opens up all kinds of possibilites. NFTs can be sold as single unique items, one of many items and items with unlockable content. With unlockable content and smart contracts, you can purchase an NFT and get access to additional content such as pdfs, courses, access, digital files, and more. The new owner can then sell the NFTs and because of the blockchain, a royalty payment can go back to the original owner. The future has not been written yet on what all this means and what we can do.
I sell digital content in lots of different ways. My thought is to explore some of these new and exciting options and see what happens. Learn by doing.
What am I selling/offering?
I am still selling my clip art maps as I always have. Click on a map that you want. Drop it into the shopping cart. Put in your credit card info and purchase. Download the map.
I am looking at selling my clip art with the features of NFTs to the collection. I have an audience and I have digital art. I am looking at selling single digital (jpg/png) maps as an NFT. Attached to the NFT map, using a smart contract, would be my clip art. I am exploring how to add both a single editable clip art file and bundled clip art to the NFT. I am also exploring the licensing of my clip art for other NFT creators. Whoever buys the NFT can also turn around and sell it for whatever they want.
For NFTs the smart contract generally means that the original owner receives a royalty each time the NFT is sold. I use OpenSea.io as my marketplace and their royalty is 10% of the selling price to the original owner, plus 2.5% to OpenSea.io.
What is a smart contract? https://www.coinbase.com/learn/crypto-basics/what-is-a-smart-contract
What to do and how to buy
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
