It's like a jungle, there are various alternatives if you are an artist and want to utilize NFTs to sell your digital works, but there are certain basic concepts to bear in mind before exploring them.
- NFTs are entirely digital tokens that live on the blockchain.
- They include many immutable pieces of information: the date of production, the number of editions, and the author's wallet.
- The metadata is the attributes of the NFTs: the author's name, the title of the work, the link to the content... This metadata might be changeable or not.
Therefore, confusion often occurs between the blockchain verification and the metadata that can be edited afterward.
The Right Blockchain
Before considering the platform that will allow you to create (mint) your NFT art, it is critical to understand which blockchain it employs. Depending on the consensus used by the blockchain, a balance between numerous components must be found:
- Site Security
- Blockchain Decentralization
- Scalability Road Map
There is currently no blockchain that has achieved a perfect balance of these three components. Many projects are working on it, but to claim that they have arrived would be a lie.
The Market
For example, Ethereum is incredibly safe and decentralized due to Proof of Work, but it cannot sustain a large number of transactions. Proof of Stake blockchains allow for quicker and more transactions, but they are more centralized and less secure.
Concerns about the environmental impact of blockchains' energy use have recently gained traction. Considering this criterion while selecting your blockchain necessitates further verification of how the electricity that drives the project was generated.
Now that we've covered the principles of blockchain let's move on.
The number of editions of your NFT supply follows. Determining the number of editions is critical, particularly for artworks. Is it a one-of-a-kind piece? Is there more than one edition of the same work?
The selection of blockchain is also critical. Because Ethereum's costs are currently high, transferring the NFT will be costly. Other methods should arise in the future to provide the designer with additional options.
If you wish to understand more, visit Jungle.co. Jungle NFT Marketplace is a space where creators and collectors can meet to discover, buy, and sell unique and innovative digital art and crypto collectibles.
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