My brain hurts. This sounds like selling and buying stocks, which to me, is also confusing…😩 I’m an old school artist still getting used to social media competition and now nft’s? I want my mommy…
TL;DR: you need to get people to gamble their money on automatically generated icons, which they don't really care for but hope to make a profit on. Las vegas wants their slot machines back.
April this was so sharp and clear I just flowed through it easily. Keep it up, very well written and executed. So how can we artists and designers participate in this new functional NFT trend? How can we market ourselves into the space and bring value into it whilst making it profitable?
Thanks so much! Honestly, I recommend finding & collaborating with a technical partner - someone who can manage the generative algorithm and help form a smart contract for the functional NFT. You'd be able to contribute to the visual art side of it!
@@NFTsSimplified yes this is a good idea. There's so much work Involved in the marketing itself, better someone else handles it. But how to make a smart contract and what is this ?
Great video! I absolutely hate how a lot of people in the NFT community are so secretive or insincere about their intentions. They say that it's all about art, but it isn't. Money and investment are the primary interest in this business, hence why I'd say that it's actually harder for newcomer artists to start out in the NFT business than the actual art business.
Hi, April!! Thanks so much for such a clear video. It stings a bit, but the truth hurts sometimes. It sounds a lot like, much like with the real world, NFT success depends a lot on marketing and social hype. I was planning to release a small (
Hi!! Thanks so much for watching! You should check out Polygon (I have a Polygon vs Ethereum video) - there's no initialization fee there, and it may be a good option for a smaller collection :)
@@NFTsSimplified Hey April , I do have a 250-300 piece of NFT collection ( All hand drawn , ik it could have been generative but...yea...) Its a trading card project...so what u think if its worth it to make it or let it be ( i just started few days ago with it and after hearing this i lowkey feel to give the project up..
Aprilynne ! I completely agree with you on the subject of having a community behind your art collection , but there are some people on the Opensea who doesn't even have a twitter account linked to their profile and still made some sales ! I believe if your art has potential the investors will come eventually.
There are some that may be selling to friends or even to themselves with other accounts to artificially increase the value of an NFT so that an unknowing buyer may pay too much for something that has very little actual value. There is much more to learn and understand for all on this topic. She starts this clip suggesting the image is what makes the NFT unique, but it's actually the token in the blockchain with a unique code that really makes the difference. The image is just a gimmick, imo.
@@pitbrand that would be very costly to the individual considering the gas fees they would hgave to shell out. Fees for creating it, fees for putting it up for sale, fees for the selling of it, then that same person would be paying fees for recceiving it so i doubt its the same person buying their own NFT.
The investors only care for the potentials of the art’s future sales. It’s pretty much like the stock market, rug pull, pump and dump, and wash tradings happen a lot.
Aprillynne! Great video. Love that you are bridging the gap here and saving some from seriously wasting their time while inspiring some to jump on board because they are ready. For myself I have an audience to build and paintings to paint first before sign up for OpenSea down the road. Making more money doing what I love is the goal and dream by retirement. I'm 50 years in. Slowly but surely we arrive alive!
Playable 🎮 nft's make a whole lot of sense to me. "Even if the nft looked sorry, being able to play with it makes up for it a ton." I can understand why someone would pay big bucks for it for that reason.
Remind me people who can tell you why you shouldn't do anything because everything is so hard, good luck loosers who will listen to this, keep watching RU-vid
You can also put it that way: If you don't like twitter don't bother NFT's as 90% of the nft community is on twitter If you're planning on selling nft art Instagram/artstation/facebook etc won't do anything for you especially if you're just a digital artist who just makes art you might even get hated for trying to put your art on the blockchain good example of that is artist named WLOP who has a huge patreon follower count and made his patreons really angry by putting out an nft. The thing is nft artists doesn't have too good of a opinion in the community outside of twitter I'd reccomend everyone to stay awyay from nft's unless you're really set on twitter and can make it work or you're someone like beeple.
The Twitter connection is very important. I've made that observation myself. However, I have seen some artists on Instagram promoting their work on that platform.
@@yuriajones Yes indeed there are some small nft communities around instagram but those are usually closed circles of friends supporting friends outside of that nft's are a hated concept when it comes to instagram due to large pandemic of bots shoving nfts in everyones face and as u can guess everyone hates it
Being honest I only agree with the audience part in the NFT market, it is really hard and you need to put a lot of effort into it if you want your collection to lift off, but it is easy to make high volume collections(just make a character template and add features to it like clothing and expressions) and there are no direct gas fees when using polygon as your blockchain for selling
Agreed. I honestly regret listening to the wave of people discouraging not to get into NFTs early last year. Hell, I didn't want to jump in to make a profit at a start. But, as a digital artist working w/ procedural art tools, it's a really exciting frontier to explore and become an expert in. TLDR: If you're interested, just go. Go learn about it , observe and research it. Hold off on doing anything until you really get how that ecosystem works.
Hi Apprilynne, thank you so much for this video! You've outlined my exact experience with launching an NFT project, and I've been trying to sum it up for another artist friend of mine, but this explains everything so clearly! I gave myself a month to promote my project on social media, starting from fresh accounts with no followers, and I quickly realized: A. How over crowded the space is, and B. How many other projects have teams of people and investors promoting and creating anticipation for the drop. It's an art form all unto itself! I didn't know anything about the importance of "community building." I say that in quotes because, as an older person, I can't for the life of me understand what it is about Discord that gives anyone a sense of community, but I'm learning! (the hard way - Haha)
The deeper I dive into NFTs, the more I realized how much goes into a successful project! For many, it's all about the marketing/promotion, which can be quite difficult if you're a team of 1
As a younger person here I'll give you an inch of my knowledge/experience and someone whose somewhat interested in marketing as well. Discord initially started off as a platform for gamers and a way to talk to friends while playing games. It's still largely that but the anonymousness of it is more of why it's a big social environment now. If you struggle with making friends in the real world you can more easily make a friend in discord. There's a lot to explain with it as well, because the emoji self expression culture of discord is pretty important as well this is why every discord has them.
Super informative! Thanks for sharing your knowledge and experience. I am watching your video for the simple reason of trying NFT'S out and possibly selling some art work. However, you have given me something to think about. I wish you lots of success in the future 🙏🏻
Great video April! Function NFTs are the future. Even if you have less than 10000 nfts and a small audience. It only takes one investor willing to see the potential in our art with a goal or mission behind it, not just trying to sell art. Keep the vids going. Just subbed
Good Educative and Informative Video and you absolutely smashed it 100% in explaining what NFTs are. However on if people should create them or not, on the contrary I advise every artists to imediately turn their work into NFTs once made. They are immiately authenticated and deemed original and there are thousands of art communities being formed because of NFTs creating somewhat of a digital art renaissance. You get a chance to join a community and immediately start creting value. Lastly every object in web3 will be owned as an NFT by someone or some organisation and many NFTs collected today will be in-demand Antiques when we move on to the metaverse. Be part of this new renaissance if you are an artisist. Immortalise your work on the blockchain.
So you are aware that you are not selling any digital asset right? the only thing ur selling is a url...lol...that nobody owns..It owns you basically...
What's the point of buying art that you can't display for people to see? Ohhh. U wanna post it on your ig? Then I'll screenshot it and everyone sees it for free. This is so dumb. Do you have any idea how much energy these computers take just to send numbers? It's disastrous. Just stop.
Thank you so much for all this information! I’m a new artist. I thought I could sell my art as NFT but after watching this video which was so well explained, I’ll look for another way to sell it! Great Video
The only reason people are buying nfts is to hope to sell them for more money later than this is exactly like the tulips. Aka history repeating itself.
OMG✨ this video is gold! For someone new to NFT, this save me BIG from time strategizing, money upfront, and set realistic expectations! Keep up the great work! Thank you thank you!
"The supply side is static." Uh, only if you ignore the entire market, in which the supply side is expanding rapidly. If I make 100 bead bracelets, and no other bead bracelets are like them, that doesn't mean the supply of bead bracelets is fixed. There's still millions of bead bracelets being made. That is WHY creators are finding themselves having to produce thousands of works of art: Because it's the only way to compete when supply is growing too fast (and prices fall fast as a result). You would be far better off using NFTs to enforce copyrights and prove you are the creator of a work of art. It's a great replacement for watermarks, and you can also use NFTs to digitally sign a contract granting rights to a buyer.
Crypto Punk was manipulated by Gary and 30 of his billionaire friends. NFTs is market manipulation in a nutshell, but without any regulation or anyway to get your moneyback. You’ll notice how most high art projects has low volumes and these pfp projects has huge volume. It’s easy, its greed. People quit their jobs to flip NFTs. This is like ICO 2.0. Be very careful, every dollar you throw at NFT should be money that you don’t care about.
oh my god, (note : i havent watched the vid yet) wow your channel grew up from 567 to 1.75k in what? about a month damnn this is good all the best for your future journey to 568k or million lmao
Gas fees are meant to be used to offset the environmental impact of NFT blockchain verification, which is a more than substantial amount of greenhouse emissions generated from the amount of power it takes to keep the servers running. They’re intentionally inefficient to make it harder to alter the blockchain data. But gas fees aren’t covering it. Not even close. A blockchain that doesn’t have these fees has no infrastructure whatsoever for offsetting environmental impact.
I have never traded any NFTs. However, I certainly agree on your point that when people are buying them for speculative purposes, not for art appreciation, they won't risk buying NFTs from unknown artists. Less well-known artists are perhaps better off selling physical artworks instead. If an artist does not succeed in the physical market, the chance of succeeding in the NFT market (by creation) will be even slimmer. I'm not an artist myself, but it's distressing to hear that this game of NFTs does not help freelance artists at all, making the originally unfavorable competition from bad to worse.
@@NFTsSimplified dude, u killed it! This is so good for anyone who just wants to understand the game of nfts. And since i saw your last video, i know you have a good inside point of view. Yea so basically, nfts are more like celebritiy novelties, or like sports items, or like you said, maybe tickets, or nft characters for meta games. Like ive heard of nft horses 🐎. But yea the gas fees, and u always hear all the stories and hype about nfts right? But the reality is its really expensive, and your odds of competing with a taylor swift nft dont exist, lol. U def, have to have like a million follows if u wanna drop a nft and make some kind of profit 📈 🤪. But this dosent mean im not interested in nfts, maybe the game will open up, and other block chains will have cheaper fees. Who knows? 😜 awesome video, cant want for the next one! Road to 1k ! Lego!!
basically just convinced me not to do NFT's despite requests on DA for sales. Every time i try and get into this whole Crypt thing its just immediately repulses me with how insanely multi-layered and complex it is.
The analogy with the dollar for fungible. I understand the point BUT each dollar note will have a serial number so won’t be exactly the same, in the same way an ‘NFT’ collection can have 100 copies of the same picture with different contracts against them, if you swapped one for another it would look exactly the same but have a different ‘serial number’. Down to the creator of the NFT to make it unique completely I guess
Get video BUT… GAS fees on Polygon are virtually nothing and with more side chain and L2 solutions on the way massive GAS should be a thing of the past.
This was really helpful! Thank you so much. It helped me so much in understanding my purpose for why I want to use NFTs and overall, your explanation was straightforward and clear cut. Not a second was wasted at all in your delivery and so, thank you so much for that.
Wow, your demeanor and delivery is so professional but you look so young. Like you've been doing this your whole life but your life can't be that long at what, 22? You're really good and your explanations are so clear that even I can understand them LOL!!! Just followed you on IG.
So people are buying a png photo that i could just screenshot? I really do not see why people are spendimg thousands on art that i could find free on google?
Well technically, USD is nonfungible if your put it that way [ 1:28 ] specifically due to the same reason you specified for the NFTs... It is irreplaceable and USDs have serial numbers in which differentiate each and every bill. and aswell, their is rare USD bills relating to the general mentions you've implied.
Was just curious what a nft is and ended up watching this video. Young lady you did a great job articulating such a new subject in a manner that even a newbie like myself understood it.
Great stuff thank you. I just started an Open Sea account with a small number of pieces, I used Polygon. Now I'm re-thinking it all if want to go down this road! Ha I'll watch more of your videos, so far I'm not out any money, just a little time. By the way I'm a independent musician, I would love to see a video on how independent musicians can use NFT's to further their careers! My listing on Open Sea is art work not music related. I have a feeling this trend of flipping NFT's that is so in vogue will be short lived when people stop being able to sell them, it seems to me it's a bit of a feeding frenzy at the moment as many of them really aren't that great from an art point of view. The people making 10K NFT's are just playing the numbers game and they'll do well while the market is hot but the buyers may be left with nothing they can sell.
Your video is underrated. You gave me the information I wanted in a confident and expedient manner. Also, you should consider voice acting or voice over work in general. Do you sing by any chance?
I wouldve dont it if it werent for gas/initiative fees, since i have free time and im really interested in the space but lets be honest there is a very very small chance that my collection will pop off so spending $100+ on initiative fees and hours of work just isnt worth it
Polygon would be a great alternative for you! It doesn't require initiation fees. My most recent video (ETHEREUM vs POLYGON) goes more into depth on the topic if you're interested!
If your not famous celebrity, influencer or big corporations , like nike,adidas ,yeezy , you will lose money in the long run if your buying no name general low quality nft , if your selling unique high quality artistic nft, like beeple, you could make a lot of money. This is basically a worse form of hypebeast culture in digital realm. At least In hypebeast culture you get real product you can use . Ppl are making money now because this is new . When everything settles only the top 10 percent will make money just like the stockmarket . My advice don't buy , sell and take the money and run .
Got to edit your audio, i had to tap out half way through. Just a tip: take your audio track and run 4-band compression and a De-esser on it, bring down the 4 bands until you hear the peaks even out. That sound of ceramic tiles sliding around on S's T's P's it's not your voice, it's the mic picking up your voice and since different pronounciations in reality come out at different volumes the mic peaks. You can fix this by compressing and evening out the lows and highs of spoken words and then removing the SSSSS with the de-esser. It's very easy to do, a few clicks and you'll sound a million times better.
Thank you for this series of videos! I’ve been grappling with it myself to mint my photos as NFTs while gas fees are so high. It’s hard for me to discern, but did you notice if that one time fee on open sea, for your first listing, is for your whole account or for every collection you create?
Thanks for such a wonderful Explanation! I had Request...Can you make a video on RU-vid growth because Recently you're channel has been Doing very well and I would love to learn from you!
If you have roughly 15k for marketing , hiring a freelancer, website developer and discord creator you’re good to go man. The nft market is absolutely crazy right now and definitely worth creating your own NFT’s.
Only if Artists have this amount of big money to spare. Even a few hundred USD would takes effort to earn. USD15k to invest an unfamiliar NFT market is a 'suicide' plan to Artist. Unless you are lucky enough to have Big Agency handles your artwork minted into NFT. Then you earn some profit after the NFT sales. This one is more secure for your own peace of mind as Artists need to take care of their Creation work and Investment in NFT is already a stressful lifestyle.
You are doing a great job by educating people here. But i disagree with you on few things. You dont have to have 10k items to start. Right now only reason people generate 10k is number of buyers is less, so by having a large collection they wont help their owner make money. But if you look at Adam Bomb squad they have 100k items, but they are already establish brand. Which doesn’t harm to their reputation. Lately more more nfts are expanding their number eg CloneX recently minted 20K nfts. More and more project will start doing it because of the benefit of having large audience. Secondly i disagree where you say by having 30 piece you wont make money. Which is right and wrong. Let me explain, if you have 30 items for sale with great art and utility and community. You will actually make more money because of its scarcity when more and more collector come across your art piece. They will pay more due to its scarcity. You are right if the person fails to execute on the roadmap which will lead to death of project. Adding one more reason why starting with 1 to 1 or 30 piece why it is better. You can always create more art if your project seeks eyeballs. But genesis token holder will be rewarded for believing in you before any other collector.
What do you think about NFTs that allow the holders to be submitted into a weekly giveaway? A project like Thortles NFT Club is a good example. This project is on the Avalanche network.
The problem with NFT's beyond the huge waste of electricity to run, is the lack of accountability. As an artist if your work is stolen and sold as an NFTs nothing will be done about the theft. It is the perfect marketplace for Art thieves, and if you're a Artist why support a community that has no regard for anything but the profit line?
You are so wrong about selling in high numbers only. Many artists are finding tons of success with selling runs of 50 or lower NF tees of one painting. They do a new sale every few weeks, or every few months, and they are building community that is coming back for each sale! They are also receiving tons of royalties on the secondary.
Some of them are selling out overtime releasing the collection making a lot of sales but not selling everything of course like you said marketing is very very important
I agree that it takes an audience to sell NFT's, but I don't think that is the only factor. I think people who sell NFTs need to think through a collection.
I was considering selling NFTs and appreciate the hard truth of this video. There's no point in activity that isn't going to be profitable. GAS FEES - OMG! I think they're trying to sucker me.
Very good video! thanks for sharing with us! I've recently learned about a project called 'Women Unite' . They said they 300x their last launch and now they are launching another collection. Looks very different as it's real human NFTs. Have you seen this project? Or could you do a review on your thoughts, not seen any videos about it but don't want to miss it?
Glad that I saw this comment! I saw their promotions and huge giveaway! They looked legit and I'm tempted to invest but a review video would be amazing please!
Aprilynne, I wouldn't consider a dollar as an example of something that is Fungible. While 1 dollar can be exchanged for 1 dollar, this is only an equal exchange of value. Every dollar has a serial number on it that is (in theory) not the same as any other dollar. Hence you can argue that a US Dollar, in physical form, is more like an NFT then not. If NFT art is only known as such because of a unique NFT tag, which is a series of characters, then every paper US Dollar is the physical equivalent of an NFT, just not attached to a blockchain.
Great video. I have only one question. How much do you need to spending to mint 10.000 nfts? I would like to learning more about nfts and how can I made a valued collection. But I think fee is highly expensive
Hey April. Let's say I generated 10,000 nfts... But just dropped 1,000 due to low following. Would it be a good idea to drop the rest gradually as the community grows?
everytime I heard a comparison between a phyisical piece of art vs NFT I really find it inonsense. If the real word copy was the very same at atom level as a digital copy is, both paintings would be valued the same bcause they're the same thing. And TBH, for me the NFT point would be the point of being the sole popietor of a particular piece of art, more like a global trademark thing
NFTs are just digital grant deeds. They are not a new idea, just a new technology. It never made sense to own a deed on a meme. It made sense to own a grant deed on art, however, as the owner can dictate when and where it is shown. If the owner has no control over that, it's effectively worthless. Eventually that's going to sink in, and all the money people spent on NFTs (at least NFTs backed by art and memes) will crash. Yeah, you own a meme or a picture, but you don't own the rights to it. So what? I'd rather own the rights than the thing itself.
Some things still apply (like growing an online audience), but there are definitely some major differences between Ethereum and Polygon! My next video will cover these differences :)
So are these things trademarked? What is stopping someone from replicating "digital" art into physical objects like t-shirts, wall art or even logos for a biz?