NFTs and NEAR Protocol: An Introduction to NFTs on the NEAR Ecosystem
Are you an Artist that is into music, motion play or Art design? You might be among the above or working on becoming one. Well, we all know or have experienced how hard artists went through in order for them to meet the right audience in the society. Dealing with too many constraints and marketing challenges. Now this brief article will guide us through the NEAR Ecosystem and how to exploit the NFT Marketplace on it to get to the right audience which not only came from your local community but from communities all over the World. This is simply via a NON FUNGIBLE TOKENS AND MINTING ON THE NEAR ECOSYSTEM.
Non Fungible Token (NFT) is a special type of cryptographic token that represent a unique digital asset on a digital ledger called Blockchain. Non Fungible Tokens are not interchangeable compared to Fungible tokens like Bitcoin, Ethereum , many other utility tokens and fiat currencies. Non Fungible Assets which can be represented by NFTs include artworks like photos, videos, memes, GIFs, audio and other digital files. This also includes collectibles, certificates, digitalising assets like houses, vehicles and many more.
Non Fungible Tokens have been in existence for more than 6 years now, there has only being a gap in the knowledge of its existence and use. The first use case NFT is from the gaming industry, crypto collectible trading card games. The release and launch of CryptoPunks in 2017 by the American studio Larva Labs on the Ethereum blockchain make a profound impacts on the creation of NFTs.
Below are some use cases for NFTs:
Digital Arts which is one of the most popular use case of NFTs, utilising the blockchain technology enable unique signature and ownership as well as transfer of NFTs.
Digital art work entitled ‘‘Everydays- The First 5000 Days’’ by Artist “Beeple” was sold for $69.3 million in 2021.
Collectibles like CryptoPunks and CryptoKitties, cards collection in digital forms.
Games assets in form of NFTs enable individuals gamers to sell items between them.
Music: NFTs were extremely influential to the music industry in the last one year and present. This pushes other artist to explore the usage of NFTs. Blockchain technology has made it possible for musicians and artists to tokenize and publish their work as NFTs where they will monetize and profit from. NFTs has generated around $25 million for the music industry in the month of February 2021. Other use cases include Sports, Fashion, university research and real world assets by tokenising them in form of NFTs.
NEAR PROTOCOL
NEAR is an open source platform that accelerates the development of decentralized applications (DApps). It is a decentralized application platform which is secure enough to manage high value assets and performant enough to make them useful for everyday people. NEAR focus on providing solutions to the main problems of today’s blockchain — usability and scalability
This uniqueness of NEAR protocol enables you to build any DApp in the Ecosystem. One of the examples of things you can build on NEAR are Non Fungible Tokens to represent unique assets.
NEAR Protocol has made the Ecosystem a haven that makes NFTs useful and create your own digital assets backed by you in simple steps. You can be able to mint, sell and even trade NFTs on your own smart contacts. NEAR has also allocate some resources that could guide you towards creating those things I mentioned. Several DApps are there to make these possible on the NEAR Ecosystem.
Examples are; Mintbase, Paras, Near Pixel party, Nearfolio, Snark.Art, WebAssembly, Music, Corgis, Metamom and so much more for you to explore on the NEAR Ecosystem.
This gives you the opportunities you are looking for as an artist to create and make your own ideas and showcase your talents to present them to the world.
With this I can say, you being an artist is enough, “Let NEAR do the rest for you”.
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