More and more artists and engineers are jumping on this massive value add, because it's finally a great way for artists to be compensated for their work. Compensating artists has always been an issue, since often times an artist's work is spread around without any attribution. In traditional art, it can be tricky to understand what a "fake" is, whereas on-chain the history is easily traceable.Īnd since smart contracts and NFTs are 100% programmable, NFTs can also have added built-in royalties and any other functionality. You'll always know who created the NFT, who owned the NFT, where it came from, and more, giving them a lot of value over traditional art. NFTs provide value to creators, artists, game designers and more by having a permanent history of deployment stored on-chain. Original Image from Wikipedia What are NFTs for? If the Mona Lisa was created on a blockchain, it would be an NFT. Even though someone can make a copy of it, there will always only be one Mona Lisa.
For example, the Mona Lisa is "non-fungible". NFTs, on the other hand, are "non-fungible", and they follow their own token standard, the ERC721. The serial number on the dollar bill might be different, but the bills are interchangeable and they’ll be worth $1 no matter what. ERC20s are "fungible" tokens, which means “replaceable” or “interchangeable.”įor example, your dollar bill is going to be worth $1 no matter what dollar bill you use. NFTs are a blockchain token standard similar to the ERC20, like AAVE, SNX, and LINK (technically a ERC677). These are smart contracts deployed on a blockchain that represent something unique. NFTs (Non-Fungible Tokens) can be summed up with one word: "unique". If you're looking for a tutorial that uses Truffle, JavaScript, and fun medieval characters, check out how to Build, Deploy, and Sell your NFT here. And we'll see how to render and sell our creation on the OpenSea NFT marketplace. Then we will learn how to make unlimited customizable NFTs with Brownie, Python, and Chainlink. In this article, I'll show you how to make an NFT without software engineering skills.
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