A New Era of Digital Assets; Non-Fungible Token (NFT)

Have you heard of this digital craze that started back in 2009 by some programmers? They named the thing they were building “crypto currency” and specifically Bitcoin. Have you heard of that? Have you invested in it, or one of the similar new era currencies?

Do you understand how crypto currency operates? Does the whole online currency of miners, and blockchains make sense to you? If you are nodding your head YES, then you are at least 5-steps in front of this guy. James has been trying to explain it to me for months now!

Then a few months ago my younger brother who sells eCommerce platforms was involved in this new platform called Voice. It had something to do with another new digital craze except this one started at the beginning of 2021.

They are called a non-fungible token (NFT). My understanding of an NFT is it is a form of digital art. Its created out of the imagination of an artist, photographer, designer or other creator then it gets uploaded onto one or many NFT marketplaces

A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio.

Wikipedia

My younger brother started talking about a company called NBA Top Shot. This company decided to build a collection of these NFT’s and bring it to market in conjunction with the National Basketball Association. They basically take short clips of basketball games and create these videos into collectible online sports memorabilia. These clips or NFT’s rather, get sold and traded online through a variety of NFT Marketplaces.

Currently there are 20 of these online marketplaces. But not all marketplaces are the same. Tonight I did a bit of looking around at these marketplaces because my younger brother has been pestering me about uploading content onto any of them which deals with photography.

Thus here we are…

For the past 3.5 days I have been conducting research on NFT marketplaces like OpenSea, Voice, Rarible, Foundation, and a few others. What I have learnt is every marketplace deals solely with an exclusive type of material. OpenSea seems to have a majority of all forms of artwork. Whereas the Foundation is strictly photography (and you have to be invited to the platform in order to begin selling on it). Then you have Rarible, and SuperRare which seem to focus in on multi-media, graphic designer type work.

What I didn’t know until tonight was to “mint” which basically means “create” the artwork into an online digital asset or NFT, you have to pay a certain fee to convert your artwork over into the digitized world. The fees for these can be anywhere from $3 to $200 USD depending on which blockchain, and platform, and NFT marketplace you choose to work with.

Also some of the platforms require you to have an online wallet for holding your crypto currency whilst others will hold it in their own secure wallet then direct transfer the funds to your bank account.

After my research was over with, I decided to give it a shot, and sign-up for one of these platforms then create my first NFT and put it up FOR SALE!!

The trouble was… which platform and marketplace to actually create on and sell through?

TONIGHT …

I took the plunge.

and created my account on the platform known as Voice and will be selling these new digital creations to be sold in their NFT marketplace. I chose this particular platform because its a smaller carbon footprint, it does not have larger fees for minting the artwork into the digital blockchain and you do not have to open a separate wallet to participate on this platform. Also I liked the idea of the artwork being paid for in USDC or USD Coins rather than Tezos, Flow or Ethereum.

Tonight, I’ve generated my first ever Non-fungible token (NFT) on the Voice.

  • MINTED
    • Title: Old War Heroes
    • Description: Airplanes of an era gone by. These old warbirds are now caged up at the local Aviation Museum. They are relics of years gone by. They served their time in the Canadian Air Force and now live out their days and nights being observed along the tarmac. They continue to gracefully age along the fence lines.
    • Reserve price: $150.00 
    • Auction: 48-hours
    • Started: Sunday February 20, 2022
    • Medium: Photograph produced by a drone
    • Unlockable content included: Yes
Old War Heroes
See You at the Auction!!

~ Aaron JacksonCrabb