Make BIG MONEY from your Photography with NFT's!

today we're talking about nfts which are non-fungible tokens a very interesting concept that is probably here to stay like everything blockchain these days and if you don't know anything about bitcoin or blockchain or anything that i'm talking about right now don't worry i'll try and simplify it but it is rather exciting for creators for artists for photographers and basically what an nft is is a non-fungible token fungible means exchangeable but it's the process of tokenizing basically a digital asset and creating it into a token a unique token that's stored on a blockchain on the ethereum blockchain and if you don't know what a blockchain is it's basically an online digital ledger that's very secure very transparent and foolproof you can't kind of mess with it because it's decentralized so it's really neat in that aspect and by making it into a token you're basically creating something that is secure off guaranteed gives you ownership and basically has a completely subjective value so like anything art it's completely subjective anyways the mona lisa is worth a billion dollars but a picture of the mona lisa isn't worth anything and that's kind of where this gets interesting by creating a digital asset what you're doing is creating a ledger and basically a receipt saying that i'm the owner of this product so in a way you can think of it as kind of investing into an artist now you can make digital assets as a one off a one single token or you can do it into multiple tokens that are limited either way as you know anything limited or one-of-a-kind obviously has more value than something that's unlimited so for me this is really interesting and i think the future of everything if you don't know blockchain technology if you do a little bit of research it's really not hard to see that it's going to be implemented to every aspect of our life any time now and in the coming years so this is really neat for artists and creators like i said to actually take your art make it very unique ownable transferable and give it some rarity and actually have an ability to track your work and it can be safely and securely stored in a digital wallet online if you think this is kind of crazy how can a jpeg have any value whatsoever well it's a digital asset just like bitcoin which at this point is worth a lot of money a lot more than probably most people thought it would ever be worth but anything digital anything that's not really material is gonna have subjective value it's also important to note that when you actually create an nft and create this digital asset it's not actually stored itself on the blockchain no it's actually the ledger that stored the metadata that actually has the description the ownership and the transaction details on that blockchain the physical file itself is stored elsewhere but by having that token in your possession you are the owner of that and that's kind of neat okay so how do you actually go ahead and create an nft actually tokenizing one of your pieces of work to put out there and sell to the masses well there's lots of platforms more and more coming out all the time because there's actually some pretty big money in this already let's jump in and check out a few of these to show you exactly what i'm talking about as well as just how easy this process is and what it entails a quick google search will show you a bunch of different options to allow you to create nfts this website is one of them one of the biggest at this point is called wearable and what this is is basically a platform to create and sell your nfts your art your photography anything that you really want to create into a digital asset as you can see here there's already tons of stuff available and because it's a transparent ecosystem you can see things selling and for how much let's have a look now at just how easy it is to actually create an nft up here on the right hand corner you see a button called create hit that and it's going to take you to an option whether you want to make a single token or if you want to actually make your art into a multiple series of tokens again in theory the less there are the more valuable it should be let's choose multiple in this case just to see what that looks like and all you need to really do is here is upload a file in the form of anything here you can use jpegs as well as tiffs as well you can put this on sale have an instant sale price or allow people to bid on it you can also choose what kind of token you want to create a wearable token or a token of your own you can name it give it a description and one of the really cool things about this because of the blockchain the ledger technology you can actually get royalties on every time your work sells indefinitely and that's amazing because it's automatically tracked through the ledger it's guaranteed so you can choose whether you want 10 whether you want 50 whatever it is and every time that work sells in the future you're gonna get a cut so that's a really interesting ways for artists to make money not just selling one one-off photo or painting and just living until the next paycheck every time that thing sells you're going to get a little piece of it so really cool in that regards and once again you can choose how many tokens you want to make a limited series and of course the properties have all the metadata that you want and what you're going to do at that point is connect a wallet there's lots of different options for you to create wallets online even just through your browser so here i've uploaded a photo here that i want to turn into an nft you can put this on sale and start to receive any bids on it which you can accept or not you can also have a set price an instant sale price that you want you can actually choose any one that you want and as you can see here there are some service fees associated with this two and a half percent that the website's gonna take and you can actually charge anything that you want here when it comes to a few options that are cryptocurrencies um ethereum is probably going to be the most common at this point because it's on the ethereum blockchain so i can charge whatever i want i can charge 5 ethereum which works out at this point to about 8 500 and i can also choose to unlock once purchase for them to actually download a physical copy of the file which i can actually throw a link in there so i can keep it on dropbox or on google drive or something like that again we can throw all our metadata in here everything that we want to create out of it our number of copies and our royalties and then connect a wallet and actually create our token it's really that simple so pretty straightforward easy stuff a lot of these websites have done a great job at making it streamlined and also be aware that anytime you do interact with a blockchain there are also going to be small fees associated with that depending on what you're doing and the time that it takes let me know down in the comments whether or not you yourself are going to go ahead and create and sell nfts or you plan to actually buy and collect other artists as well i'm going to create a couple nfts of my own some of my best my most passionate work and i'm going to throw it out there for the masses just to see what happens if anything if you're interested to see how that turns out make sure you smash that like and subscribe button and join the community so there it is guys there's nfts in a nutshell i hope that made sense it is kind of new and exciting it's something really different and there's definitely opinions on both sides of this completely i'm not sure exactly how i feel completely about this i really do like the idea of taking my best my favorite my award-winning work and really making them limited them rare and having them out there in the form of a tracked detailed ledger that that can't be stolen that's obviously a real big concern of a lot of artists out there is having your work stolen and rather than watermarking something and ruining the image it's kind of neat that there are some other options out there and that are adding to the value of your work potentially anyways guys i hope you liked this video and it made sense if you did if you want to see more content just like this make sure you hit that like and subscribe button drop all your questions and your comments down below and like always make mistakes be yourself and get out there and take some more pictures see you next time

Channel: Stefan Malloch

Views: 77,000

Keywords: photography, stefan malloch, nft, nfts, nft's, photography nft, photography nfts, nft art photography, ntfs for photography, what is a nft, what is an nft, how to make money with photography, how to make money with your photography, nft's explained, nfts explained, crypo currency, non-fungible token, ethereum, smart contracts, blockchain, digital art, erc721, superear, rarible, cryptoart, beeple, non fungible token, non fungible token art, non fungible token photography

Id: qk1kk09rBFw

Length: 8min 4sec (484 seconds)

Published: Tue Mar 09 2021