AFEN ART MARKETPLACE: GETTING STARTED ON NFTs
Before you read this article, heads up! I cannot sketch, draw or create any form of art to save my life. Fortunately, this is where you come in. And, for the information you probably don’t need, my mum frequently tells me: “You are a piece of art” I think this is the cutest thing ever.
Don’t worry, we are here to explain and enjoy a not-so-new phenomenon that I have a pretty good idea about. You’re in safe hands.
Let’s dive in!
MY CRYPTO FRIEND CHURNS ENDLESSLY ABOUT SOMETHING CALLED NFT, Help!
That friend, or ‘Habibi,’ is a wonderful person! They want you to be a part of something new, what I’ll call a new direction for art, entertainment, and valuation. So, what exactly are NFTs?
NFT is an abbreviation for Non-fungible tokens.
Let us begin by deciphering the strangest word in the preceding phrase: what is non-fungibility? This simply means that what you receive differs from what you gave during an exchange. For example, in exchange for that wonderful painting of your wife, I give you my supermarket bonus points (don’t ask me why I’m using such a personal anecdote).
In any case, something is fungible if it can be exchanged for something of equal value or utility. To put it another way, interchangeable.
Non-fungible tokens, also known as NFTs, are digital tokens similar to bitcoin, ethereum, and dogecoin, but they differ in that they store additional information, which can be pretty much anything! Basically, because of the additional information which is very important, NFTs range from GIFs, Jpeg, MP3s, and other digital forms. The most frequent usage for NFTs currently remains as a form of digital art.
OKAY OKAY! I’M AN ARTIST HOW DO I BEGIN MY NFT JOURNEY?
Glad you asked, at this point, I have not told you why NFTs are extremely valuable. Just like any other physical form of art, the price of NFTs are subject to the forces of the market as well as the demand. You must’ve heard that a particular NFT sold for more than 60million dollars. This story is pretty much the evangelism story to attract new converts and get folks like you doing the “crypto influencer on youtube face”. Well, It is true
How do you start? The appropriate question is on what platform do I begin?. Several NFT platforms exist where digital collectibles (NFT) can be exchanged. However, I present to you the AFEN art marketplace. The next few paragraphs will guide you on what AFEN is and why they should be your preferred NFT platform to begin this exciting journey.
C’MON BUDDY, TELL ME ABOUT AFEN ART MARKETPLACE?
First and foremost, AFEN is the first government-backed NFT initiative in Africa; that sounds pretty serious, doesn’t it?
Yes, indeed! AFEN is a cryptocurrency startup with the goal of transforming three sectors of African society: arts, education, and real estate, with a focus on decentralized finance. This must be starting to sound incredible. The most interesting aspect is that AFEN, having obtained the necessary endorsements and backing, has the exclusive right to digitize ancient or legacy African art as NFTs. AFEN has created an NFT marketplace where you can sell your digital art versions.
So, where do you fit in? The AFEN NFT marketplace will be home to a diverse range of artists and users. Anyone will be able to perform some KYC activity on the AFEN NFT marketplace to be verified. The verification solves the problem of authenticity; the blockchain’s immutability solves it further.
What do you require? To get started as a digital artist, you’ll need a wallet. A wallet is a location where you can keep digital assets. Trustwallet and metamask are two popular wallets. Once you have a wallet, you can easily connect your wallet address to the NFT marketplace by using the Dapp browser provided on the wallet. Also, you will need to stack up on some $AFEN token and BNB, these will be needed through the minting process.
What next? Once launched (AFEN NFT marketplace), You can mint your art as an artist by clicking on the mint token button provided on the user interface of the marketplace. This button leads you to the next step where you can upload your file, convert to NFT, choose either to set a fixed price or an auction price, choose the number of pieces to be minted as well as other options presented on the platform such as art description and title. Once minted the art will be placed on-chain through the smart contract process and placed in your wallet until it is sold.
Oh no! Before we forget. If you’re reading this and thinking, “Oh, I’ll screenshot the NFTs and sell them as mine” good luck with that. You will receive a screenshot or a downloaded file that lacks the information that makes it immutable on the blockchain.
How do I get my profit? I knew it! Don’t be shy, money is quite a good thing! After you’ve uploaded your NFT on the marketplace, it is exchanged for the value placed or bid on it by a number of visitors to the platform. Your crypto will then be deposited straight to your wallet.
The Beta version of the AFEN NFT marketplace is set to be launched on the 15th of June. This is definitely something to keep an eye on.
How does the listing work? There are three forms of artist listings on the AFEN NFT marketplace: African Artifacts;Individual african artist listings;and Individual artist listings. The African artifacts will display legacy african NFTs displayed to be purchased and are sponsored by the host government. However, what concerns you the most are the last two listings. Individual african artists will be verified through a KYC process and will be able to mint pieces for initial sale through the previously explained process. For Individual listings, this is available to other artists who wish to mint on the AFEN ART marketplace. The platform is open to global customers to buy and resell NFTs on the AFEN ART marketplace.
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