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NFTs OVERVIEW

Huyen.tranthanh2014@gmail.com

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Every Days: The First 5000 Days 69.3M $

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Varchain Matic

Crypto Kitties

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Table of contents

What are NFTs?
Why NFTs Matters?
Types of NFTs
How artwork was attached to an NFT?
Some Common NFTs Use Cases
How to make your own NFTs
Conlusion: Oppotunity & Risk

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What are NFTs?�

NFT’s (non-fungible token) are a cryptographic token with a unique identifier - an ID, that represents a unique asset. Each NFT is not inherently equal to another.

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Ethereum: ERC-1155 ERC-721

BSC: BEP-721

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“Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing.

1. Digital Scarcity

2. Authenticity & Ownership

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Why NFTs Matter?�

The need to own digital assets.
The token economy create the need of tokenization of physical assets.
The need of authenticity and royalties.

Token??

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Types of NFTs

Non-generative	Generative

Created by a human artist	Created by an algorithm
Artworks created, uploaded to the blockchain, then attached to an NFT token.	Using unique ID to generate “seeds” , artists create the bits and bobs, the algorithm mash them together.

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�How an artwork was attached to �an NFT?�

The Image/audio… for NFT can be stored in three different ways:

1.With the NFT token on the same blockchain.

2.On a different blockchain or decentralised storage.

3. In a private or centralised server

1. The first way we will discuss how art can be attached to an NFT is when the art itself is stored on the same blockchain as your NFT. This is the most secure way, where the longevity of your NFT is practically guaranteed.

This means that even if the group that created the project went out of business and the website was removed from the internet, your artwork would still exist and be safely stored on the blockchain.

2. When your art is stored on a different blockchain or decentralized storage there are a few things that affect the “risk profile” of your NFT:

How is the link handled?

A lot of projects host the link between your art and NFT. This means if the group were to stop maintaining the link, your NFT’s link would break, and your NFT would become worthless.

Where is it stored?

Not all storage is created equal. For example, if your NFT’s art is on IPFS someone needs to pin the art. If the creators of the NFT stop “pinning” the art, your artwork will disappear, even if the link is still active.

3. Centralised storage refers to what you might consider normal storage, such as storing on AWS or private servers. This method means that should the group that created your NFT stops hosting your NFT, your NFT is now completely worthless.

In a private or centralised server.

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Some Common NFTs Use Cases�

Art NFTs

Collectible NFTs

Finance NFTs

Music NFTs

Real-world asset NFTs

Game NFTs

Logistics NFTs

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How to make your own NFTs�

Prepare:

Your song, artwork, or collectible
Some crypto to pay the minting fee
A cryptocurrency wallet

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Steps to mint NFTs:

1. Head to an NFT Marketplace and connect your wallet.

2. Click Mint Artworks to start creating your NFT.

3. Fill out the required fields with all the collectible info.

4. Upload your file.

5. Agree with the anti-plagiarism declaration.

6. Confirm payment for your minting fee.

7. View your NFT on the blockchain Scan platform.

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Conlusion: Oportunity & Risk �

legal situation are uncertain
system safety and security risks
value volatilization