If you are looking to mint and sell a Non-Fungible Token (NFT), I can provide an insightful vantage point from various market and consumer perspectives. My analysis is based on experience, industry insight and daily market observation.
I can provide a radar graph and summary that highlights key factors and provides a reasonable target price for listing your work. To the corollary, I may also tell you that your baby is ugly. No one wants to hear it, but sometimes (albeit rarely) it needs to be said.
Successfully selling an NFT requires some if not all of the following:
NFTs come with the benefit of more artist-friendly terms, leading to a shift in the balance of power between artist and collector. Note that TokenAngels receives 21% of the residual NFT sales from Matt Kane’s piece, not 100%. Similarly, an NFT art marketplace called SuperRare bakes a 10% creator royalty commission into all secondary sales - something Robert Rauschenberg would have appreciated in 1973. A New Frontier More artist-friendly terms along with curated marketplaces like SuperRare and Async Art are attracting a flood of new artists into the space. For a profession that’s notoriously impoverished, the allure of large amounts of money sloshing around these markets make crypto art even harder to ignore.
A recent report by Hashkey Group noted:
"As of February 25, 2021, the total transaction volume reached 170 million. The transaction volume in the first two months of 2021 is 2.7 times that of the entire year of 2020. It can be seen that the industry’s interest in the NFT market is heating up. At present, NFT only accounts for 0.2% of the total market value of the encryption market. The market value is very small. The NFT market is still in its infancy and a niche area."
This provides an opportunity for creators everywhere. Early creators have nothing but upside regardless of market direction. During bear markets, buyers warm up as global prices average down. Creators can capitalize even during bear markets by minting when gas fees (gwei) are low. Additionally, the creator can receive a residual percentage of every transaction that happens in the secondary markets even after the initial sale - in perpetuity.
An interesting and lesser known characteristic about NFTs is that as the creator you can get paid when your work sells on the secondary market! That's right. You've sold rights to your work as an NFT and any you can receive a portion of every transaction that happens to it after your sale.
Beeple’s collage, Everydays: The First 5000 Days, sold at Christie’s. | Image: Beeple
There are 5 primary layers to NFT technology:
- Infrastructure – where the non-fungible tokens are stored
- Minting – the process that enables people to easily create NFTs
- Publishing and Storage – where the content an NFT entitles people to is published and stored
- Custody – the wallet, browser or viewer that enables people to show others their NFTs
- Marketplace and Swap – where NFTs are acquired and where creators can possibly purchase residual second-market items
NFT Fundamentals
What is a
Non-Fungible Token - NFT?
Nonfungible tokens prove ownership of a digital item – photo, image, sound file or text – in the same way that people own crypto coins. Unlike crypto coins, which are identical and worth the same, NFTs are unique.
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Integration
This is a pivotal phase of development, where the developers work with the operations personnel to understand end-user needs. Our developers continuously merge their code changes in a shared repository, facilitating timely integration and automated testing.
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Testing
Timely execution of testing is key to the health of any software. We enforce a frequent-testing policy by way of automation. Newly committed code is passed through various testing phases to ensure quality maintenance.
Continuous
Deployment
Continuous deployment is necessary to take full advantage of a well-designed agile system. Every significant, validated change is automatically released to the users. Quick releases enhance the feedback loop, such that developers can isolate issues with higher accuracy.
Frequently Asked Questions
I’m not an authority. I’m an opinionated and experienced technologist who has been in the crypto space since just after it’s inception. I got my first Bitcoin in 2013. I've been a DOGE miner, enthusiast and hodler since 2013. I've dabbled in Chia plotting and farming. I’ve seen bull and bear markets in the speculative crypto markets and my knowledge of blockchain fundamentals coupled with broader technology experience is how I deliver value.
I’ve been both a buyer and seller of NFTs. I’ve experienced and understand the distinct challenges from both the consumer and creator perspective. Whether you’re looking to list multiple works or a single magical unicorn, I can guide you along your journey into the realm of NFTs.
I have almost 30 years of overall technology experience. I’ve engaged and witnessed the internet since it’s pervasion into daily life. My experience coupled with daily market trend digestion enables me to provide a uniquely qualified perspective you can’t get anywhere else. As an investor in the late 90s, I lived the internet tech bubble for better and for worse. I’ve seen bull and bear markets and the respective impacts of both; and while I can’t promise your NFT listing will be the next Beeple, I can provide you with insight you won’t get anywhere else.
I’m currently a Senior Technology Infrastructure and DevOps Architect and Consultant. I’ve worked professionally in Management, Engineering and Architecture roles. I’ve worked for startups (including my own) and at large and medium sized enterprises. I’ve earned certifications and awards. My projects have been written about and featured on well known news websites. I’ve been interviewed by industry leading executive publications and I’ve been publicy recognized for my contributions at work. I’ve also presented at conferences. I was a tech nerd when it was a source of ridicule. My experience is TT shaped - broad with specialized depth in certain areas.
My billable rate varies by engagement depth and time. Depending on the work, I may take a conditional payment or a reasonable percentage of the final listing sale price, along with a small percentage of any ERC token resale in perpetuity.
If you’re a creator and you have something that someone can enjoy or consume, there is likely value to be shared. The outcome from listing your NFT can vary based on market conditions, but it's more important to get it listed.
The markets are highly unpredictable, even with my industry exposure and experience. For many blue-chip artists, the secondary market is much more lucrative than the primary market. Depending on your work, it could be an instant hit collectible or it could become an investment piece. It could also not sell at all. Such is the way of indeterministic and new markets. My advice to creators is to mint your NFT and see if it sells. You won’t know unless you try. The world needs more creativity and you can deliver it.
Potentially. If you’ve created a work from scratch it’s unlikely that you’ll infringe on anyone's rights. While blockchain technology and NFTs are a global phenomenon, they must still adhere to governance. I am not an attorney so I cannot provide legal advice, however I can provide great resources if you have concerns in this area.
Contact me now to leverage your current position before opportunity passes.
Disclaimer:
I am not a financial advisor. I simply factor in market conditions during appraisal and consultation.
I do own several cryptocurrencies and tokens, including but not limited to the ones mentioned herein. Blockchain technology and specifically cryptocurrency / DeFi and NFT markets are highly volatile and high risk. I make no guarantees about strength or performance of any NFT listing based on my analysis.
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