Boosty Labs on NFT Blockchain Art

As art goes digital and workflows go online, new technologies are emerging that are blurring the physical boundaries. NFT (Non-Fungible Tokens) is a great example. A new phenomenon in the blockchain (https://boostylabs.com/blockchain ) and cryptocurrency space offers an innovative way of registering copyrights. If you still don’t believe that a digital coin can replace a pile of paper documents and protect your copyrights, read the expert article from Boosty Labs – Ethereum blockchain app development company.

A non-fungible token is a cryptographic token in a single copy, i.e. it cannot be exchanged or replaced with another similar token. NFTs appeared on the Ethereum blockchain in 2017 and today are represented by tokens of the ERC-721 and ERC-1155 standards. Until recently, such tokens were associated with game objects (artifacts) in online games and digital collectibles. Today, NFT means authorship of any object, be it an audio track, a picture, a GIF, a baseball card, etc. Note that a non-fungible token is not a digital item – it is proof of exclusive copyright or ownership. That is why it is presented only in a single copy.

An NFT promotion provides a unique and innovative way for creators and enthusiasts to engage with digital assets. These promotions offer a decentralized and transparent platform for artists to showcase their work, granting collectors ownership of exclusive, verifiable digital items. NFTs bring scarcity and authenticity to the digital realm, creating a novel avenue for supporting artists and connecting with a community that values digital art, music, and other forms of creative expression. Additionally, NFT promotions have the potential to revolutionize how intellectual property is managed and monetized in the digital age.

How does it work? Everything is super simple. Thanks to NFT, the procedure for transferring rights is reduced to one step – buying a token. Let’s consider the process in more detail.

We go to some popular NFT marketplace, for example, Rarible SuperRare, NiftyGateway or Opensea. So, select the item you like, click, look at its description and price.

By the way, platforms like Opensea allow you to track the history of the value of an NFT token: this will help you decide whether to invest in it. If everything suits you, click “Buy”. Do not forget to connect your Ethereum wallet and replenish it with a margin: in addition to the NFT cost, you must pay a gas fee. Recently, it has been $ 20-70, depending on the workload of the system.

Money out of thin air

One of the pioneers in the NFT market, the Rarible platform was created in Russia. Will its creators take the first steps towards regulating the issue of tokens? Most likely, the growing number of scams and complaints will force them to implement additional verification procedures. So far, the only thing Rarible offers is verification of a person’s name and social networks. But this does not guarantee the authenticity of its content.

While no one can guarantee the authenticity of the content, you should use common sense and not buy dubious tokens. How do you recognize them? For example, a warning to users that the token has not been verified by the command may look like this:

In general, if you have doubts about investing in one or another NFT, or you want to competently create and promote your tokens, consult with specialists in the field of IT jurisdiction, for example, the GMT Legal team. They will help you choose the most reliable tokens and platforms.

Our world has irrevocably entered the digital age: we pay with plastic cards, have access to the Internet 24/7, listen to music from wireless headphones. So why not make legal online documents? NFTs allow you to digitize the interaction with almost any virtual or physical objects, so their occurrence is quite natural.

And while the NFT market seems like a chaotic collection of pictures today, this technology will improve year after year to help us solve the copyright problem once and for all. Maybe soon you won’t need a lot of documents to protect intellectual property or purchase works of art. Everything will be stored in a magic box called “blockchain”.

After purchasing NFT, you can proudly call yourself a “digital collector”. Do not forget to keep an eye on the price of your token: it may increase in the near future.

Token means ownership? So far, this is not entirely true. Buying a token does not mean full ownership of the item. Rather, you are acquiring a “licensed digital form of the product”. A token is just a representation of something, be it a picture or a song. You will not be able to dispose of the copyright of the creator. This is why, so far, NFT ownership is viewed from the investment side rather than the practical. The current NFT system resembles a digital copyright demo. Most likely, in the near future, tokens will begin to have more significant legal force around the world.

Can I create my own NFT? Definitely yes! NFT is on the crest of the hype wave, and if you offer something worthwhile and attract the audience to the auction, your income can exceed expectations many times. You can create your NFT token in just a few steps:

Get an Ethereum-enabled wallet (like MetaMask).

Create the content you want to promote.

Create a collection in your account, upload a logo and describe it.

Done!

Now, if you want to earn as much as possible, you need to promote your content and your name. Many novice and experienced creators are now doing this, and their efforts are paying off.