NFT stands for “non-fungible token,” and it can technically contain anything digital, including drawings, animated GIFs, songs, or items in video games. Non-fungible means it is individual. The opposite, fungible, has examples like bitcoin. One bitcoin can be swapped for another; they are identical.
Something that is “fungible” can be exchanged with an equivalent item — for example, a $5 bill with another $5 bill.
Cryptocurrencies, which use a digital public record of transactions called a blockchain, are fungible.
NFTs are digital items that can be bought and sold using this blockchain technology. But they are not fungible, making them a different type of asset.
Some have sold for millions, including an NFT by digital artist Beeple which went under the hammer at Christie’s in March for an eye-watering $69.3 million.
Top 5 Play To Earn Crypto NFT Games List – 2022
Most of us like games, why not earn from them, and now we even got some free-to-play NFT games. Without investment but hard work you will get money and in my opinion, reinvesting the money is the best option. Because in the Crypto Space reinvesting is generating more income.
Thetan Arena is a MOBA game based on blockchain. Thetan arena is a game where you should revolve around the combination of strategy and team play. Give it a try it is really funny, especially with friends. It is now at 13.000.000 players. This is HUGE!
Gods Unchained is a competitive card game, balanced 1v1. Play for free. Card games are not for everyone but if you enjoy try this card game. With the correct strategy, you can destroy enemies even if they are stronger than you.
Spider Tanks is a PVP Brawler designed and developed by award-winning Netherlands-based GA MEDIA. Spider Tanks is free to play, but also incorporates a variety of play-to-earn mechanics, centring around skill-based competition, resource collection, and a player-driven upgrade cycle. This game is still in beta.
Blankos Block Party
Go on solo quests and unlock new rewards to trick out your Blankos, or grab a squad and compete in epic block parties.
Is an MMO set in a vibrant online world styled in a giant block party? The things you earn and buy are yours. It has a very solid play to earn mechanic.
This game is full of sorts of minigames. There is a minigame for everyone.
HodlGod’s base game mode is the Arena Mode. In this mode, you are spawned on the map with up to 30 other players. Once spawned with your swords in hand, a magical zone starts narrowing, pushing you towards your enemies. Sound nice right? This is the world’s first 3d PVP blockchain battle royale. It requires skill but is a very fun game. Any skin you have is an NFT. The only benefit you can have is to put in time and work.
Test these games and see maybe you will get in love with them and also make money with them.
YOU MIGHT LIKE THIS BLOG.
How to Make an NFT.
- Pick your item
Let’s start with the basics. If you haven’t already done so, you’ll need to determine what unique digital asset you want to turn into an NFT. It can be a custom painting, picture, music, video game collectible, meme, GIF, or even a tweet. An NFT is a unique digital item with a sole owner. That rarity gives an NFT value.
Make sure that you own the intellectual property rights to the item you want to turn into an NFT. Creating an NFT for a digital asset you don’t own could get you into legal trouble.
- Choose your blockchain
Once you’ve selected your unique digital asset, it’s time to start the process of minting it into an NFT. That begins by determining the blockchain technology you intend to use for your NFT. The most popular among NFT artists and creators is Ethereum (CRYPTO:ETH). Other popular options include Tezos, Polkadot, Cosmos, and Binance Smart Chain.
- Set up your digital wallet
If you don’t already have a digital wallet, you’ll want to set one up to create your NFT since you’ll need some cryptocurrency to fund your initial investment. The wallet will provide you with access to your digital assets. The top NFT wallets include Metamask, Math Wallet, AlphaWallet, Trust Wallet, and Coinbase Wallet.
Once you set up your digital wallet, you’ll want to buy some cryptocurrency. Most NFT platforms accept Ether, the cryptocurrency of the Ethereum blockchain platform. If you already own some cryptocurrency elsewhere, you’ll want to connect it to your digital wallet so you can use it to create and sell NFTs.
- Select your NFT marketplace
Once you have a digital wallet and some cryptocurrency, it’s time to start creating (and, hopefully, selling) your NFT. For that, you’ll need to choose an NFT marketplace. Some of the top NFT marketplaces include OpenSea, Axie Marketplace, Larva Labs/CryptoPunks, NBA Top Shot Marketplace, Rarible, SuperRare, Foundation, Nifty Gateway, Mintable, and ThetaDrop.
You’ll need to research each NFT marketplace to find a platform that’s a good fit for your NFT. For example, Axie Marketplace is the online shop for the top NFT game Axie Infinity. Meanwhile, NBA Top Shot is a basketball-focused marketplace. It’s also important to note that some marketplaces require their own cryptocurrency. Rarible, for example, requires Rarible (CRYPTO:RARI).
OpenSea is usually a good place to start. It allows you to mint your own NFT, and it’s a leader in NFT sales. The NFT marketplace sold $3.4 billion worth of NFTs in August 2021 alone.
After selecting your NFT marketplace, you’ll need to connect it to your digital wallet. That will allow you to pay the necessary fees to mint your NFT and hold any sales proceeds.
- Upload your file
You’re now finally ready to mint your NFT. Your chosen NFT marketplace should have a step-by-step guide for uploading your digital file to their platform. That process will enable you to turn your digital file (a PNG, GIF, MP3, or other file type) into a marketable NFT.
- Set up the sales process
The final stage in the NFT minting process is to decide how you want to monetize your NFT. Depending on the platform, you can:
Sell it at a fixed price: By setting a fixed price, you’ll allow the first person willing to meet that price to buy your NFT.
Set a timed auction: A timed auction will give those interested in your NFT a time limit to submit their final bid.
Start an unlimited auction: An unlimited auction doesn’t set a time limit. Instead, you have control to end the auction whenever you want.
You’ll need to determine the minimum price (if you set up an auction), set your royalties to continue cashing in on your NFT if it resells on the secondary market, and how long to hold an auction (if timed). Keep fees in mind when setting the minimum price because you could lose money on your NFT sale if you set the price too low.
Unfortunately, the fees to mint and sell an NFT can be costly and confusing. Depending on the platform and pricing, you could pay a listing fee, an NFT minting fee, a commission on the sale, and a transaction fee to transfer money from the buyer’s wallet to yours. Fees also can fluctuate due to the volatility in cryptocurrency pricing. Because of that, it’s important to take a close look at the costs you’ll have to pay to mint and sell your NFT to make sure they’re worthwhile.
How are NFTs traded?
Like cryptocurrencies, NFTs are bought and sold on specialised platforms. OpenSea is the best-known NFT marketplace.
A sale does not necessarily involve the transfer of the object depicted by the token.
NFTs of famous paintings have been sold, for example, but the buyer does not receive the painting.
What changes hands is a certificate of ownership of the NFT, registered on the blockchain? The certificate must be kept safe in a digital wallet, which can take various forms.
The wallet might be accessed via Metamask, a free internet browser extension, or a secure physical device. It might also take the simple form of a code printed on a piece of paper.
To purchase an NFT, the wallet must contain enough of the relevant cryptocurrency — for example, ether (ETH) if the person is buying a token on the Ethereum blockchain.
With a little technical know-how, it is also possible to make, or “mint”, your own NFT.
Ultimately, NFTs are digital contracts, with certain rules embedded such as the number of copies available for sale.