The term NFT has long been featured on news websites, especially in articles related to cryptocurrency; however, NFTs have taken the art world by storm and are now spilling over into the entertainment, gaming, animation, and character design industries.
Since we are an animation studio focusing on creating original characters, IPs, and stories, we saw the need to talk about NFT digital art as it’s going to be the future of the digital artwork industry.
Therefore, we are going to discuss some key concepts and then dig deeper into the realm of entertainment and how this cutting-edge technology is shaping a new form of creativity and market in the world of entertainment.
What is NFT?
NFT, or Non-Fungible Token is a special type of cryptographic token that uses blockchain technology to create digital assets that cannot be reproduced.
The difference between NFTs and crypto is that you can exchange one bitcoin for another bitcoin (Fungible). But in the case of NFTs, you can’t swap one for another, and that’s why they are called non-fungible.
Why is NFT crucial in art?
NFT empowers artists to sell their digital work directly to audiences worldwide without the need for auctions, thereby retaining a more significant share of the profits from the sale. Royalty can also be programmed as digital art, and each time a work of art is sold to a new customer, the creator receives a percentage of the sales profit.
On the other hand, the NFT marketplace provides a unique opportunity to gain traction for original IPs even before they are produced or launched in the market. It gives a whole new world of opportunity for funding projects, a model that even independent creators and brands can adopt.
NFT examples, what are some use cases of the new hype?
There are various examples of NFTs, and the most common are:
NFTs are popular in the gaming industry because these tokens solve some inherent problems; for example, top games like Fortnite have banned the sale of features and accessories such as weapons and skins. With irreplaceable tokens, these facilities can be easily transferred in different games. NFTs will thus help the in-game economy and in-game purchases.
- Digital Art
For artists working in the digital space, copyright protection has always been a significant challenge. Today, stealing works of art in the digital world is as easy as drinking water. On the other hand, using NFT innovation, one can buy a work of art and display it in a digital space. Using a blockchain, a person’s ownership (private key) of a work of art is proven. By eliminating intermediaries, artists can also make more profit.
- Collectible Digital Assets
An old stamp from 70 years ago has no use today, but it is precious, and stamp collectors are struggling for it. One of the primary uses of tokens is to create collectible digital assets. For example, a unique football card from your favorite player, of which there is only one, can be given to you in the form of a token, and you can see its value increase every day.
- Real-world Assets
Using the innovation of NFTs and the Chinese blockchain, a house, land, or any other real-world asset can be converted into a token, making trading these assets as easy as sending a text message. However, most judicial and legal authorities still do not recognize these tokens, and there are many technical challenges. So it can be said that there is a long way to go to reach the day when a person has his home token on his mobile phone.
How to make an NFT art and monetize it? (5 easy steps to begin)
Are you an artist or a designer trying to turn your work into a Non-Fungible Token? Here’s a simple way you can create one for yourself.
1. Choose an asset
The first thing is choosing the artwork or the type of asset you make an NFT from. Any digital file can be transformed into non-fungible tokens; A digital painting, an original character, a piece of animated series, or even a feature film can all be converted into NFTs. The sky is the limit!
2. Get yourself some crypto and a wallet
The only way you can start transactions on the NFT marketplace is to use cryptocurrencies (at least for now). As far as the non-fungible tokens are concerned, you’re going to need some Etherium-based tokens like Ether or any other token the marketplace is demanding from you. Meanwhile, get a crypto wallet to store your tokens and transfer the assets.
3. Pick a Marketplace
Since non-fungible tokens are becoming mainstream, more marketplaces are being developed at the speed light! The most popular ones are OpenSea, Rarible, and Mintable. The first one is best for beginners since it’s free to join and has no restriction on the content you can place. That means you don’t have to be certified as an artist to be selling on the platform.
4. Create your NFT
You don’t have to do much work to create your NFT; the marketplace does it for you! Once you’ve connected your Wallet to OpenSea, go ahead and make your first NFT. Click on Create in the top menu, and create a collection. Fill the required information in the list, and then save. Voila! You have made your NFT with just a few clicks.
5. Start Monetizing
So far, it’s looking so easy, right? Well, this is the hard part; sitting around until someone likes your precious artwork is a far-fetched idea.
You’ll have to market the object yourself, perhaps to a pre-existing group of people who are interested in your work. That’s the most challenging portion, and it has nothing to do with the creative process. So, get yourself a marketer and
Create your NFT digital art with Dream Farm Studios
We are a character-driven animation studio creating both 3D and 2D animation series for a wide range of applications in the entertainment industry. With a quality-driven team and a passion for visual storytelling, we breathe life into the soul of our characters, making our stories more engaging and entertaining for our clients.
We can help creators and brands by producing custom-made and original NFT assets for launching them in the NFT marketplace. If you’re thinking of creating an asset for the non-fungible token, drop us a line, and we’ll discuss it in more detail.
Check out our brand character service page to see how we are helping brands enter the metaverse using a brand character.
Arash is the equivalent of Buzz in Toy Story when he goes to infinity and beyond, but never comes back! responsible for our blog and content marketing efforts, he always delights the audience with his tenacity and passion in creating the extraordinary.