What are NFTs and what is the best blockchain to mint NFTs on?
So NFT's are a thing. Its really just a type of token that can store information inside. Blockchain games like Splinterlands and dCity already use them to create different (non-fungible) game pieces within the same token set. Fungible tokens, like HIVE and Bitcoin, are tokens where every one is the same and interchangeable.
Here's something to consider about the 'NFT art' - the art is not actually in the blockchain (usually), generally its just a link to the art.
Source: How to Create an NFT and why you may not want to.
This art idea shows the limits of NFT technology. Sure we can put information in a token, but what good is it? If its a link to the image, owning a token does nothing to stop anyone from 'right-click saving' the image onto their own hard-drive, or screen-shotting the image into their post.
This brings us back around to the concept of tokenized ownership. The concept of a token allows us to 'prove' ownership within a wallet, a blockchain concept of an account.
If a token appears in a wallet, that wallet owns the token. The owner(s) of the wallet are the ones who control 'the keys', the private key specifically that matches with its public key pair. The public key is the wallet address, on HIVE it is the 'account name'.
Not your keys, not your crypto
Its important enough to remember, that the concept of 'tokenized ownership' is something that depends on everyone learning how to control and keep control of their private keys.
If you want to sell an NFT, everyone that buys it needs an account on the right blockchain. There are not that many different blockchains to choose from, let's take a look at them briefly here:
Ethereum
Ethereum is the original NFT chain and most expensive blockchain to work on, both for NFT creators but also for buyers/users. These costs are referred to as 'transaction fees', which accompany any placing of information into the blocks of the Ethereum blockchain, and can go for $10 and up per transaction, with emphasis on the up. The highest fee I have paid was 44 dollars for one transaction.
OpenSea is one of the largest marketplaces for NFTs on Ethereum. Many other marketplace sites exist, since the actual transactions are happening on a blockchain, the front-end user interfaces are just accessing the api blockchain data to populate their pages.
OpenSea will even help you create or 'mint' your NFT collection.
OpenSea also will let you mint NFTs on SOL, but I cannot recommend SOL right now because it is very new and I am not even clear that it is a blockchain, their 'proof of history' algorithm sounds a lot like a postgres database.
You can read more about SOL here.
Binance Smart Chain (BSC or now BNB chain)
Not to mince words, this is a Chinese clone of ETH. It is not a blockchain, it is run internally by the Binance team. It is an exact clone, very common in open source infrastructure, so it has been a very popular place to test all the same things people have wanted to test on the Ethereum blockchain, but it was too expensive to do so, including DeFi and NFT projects.
Expect to pay 25-50 cents USD per transaction on the Binance chain, but since its a clone, all code is also compatible with the Ethereum chain.
Take a look at a team I have seen doing cool stuff before, anyone can mint their own NFT collection and the ICEBRK team will even help coding the smart contract - they even have hooked up with giftcards that support NFT purchases - there is a lot of potential development here.
https://twitter.com/ICEBRKofficial/status/1493166690548420611?t=mafdBX7PN9mzCLxJ5tPRNA&s=19
HIVE with HIVE-ENGINE smart contracts
The HIVE-ENGINE team have built out a suite of protocol level tools to make your own token on HIVE, as well as do some common things like staking, pooling and yes, even creating NFT collections.
People can buy BEE and burn it for HIVE-ENGINE services, including hosting your own NFT market, where the mint fees will come from your own token, I started looking into this to see which tribe I could test hive-engine NFTs on.
I will be testing a CINE tribe NFT collection in the next few days to see how it goes.
Prices - How much does it cost?
It really depends what you want to do. Token minting costs depend on the chain, and currently I am testing CINE token NFTs which cost just 101 CINE per collection and 1 CINE per token, at a current price of 0.09 HIVE/CINE, and HIVE sitting at 0.86 cents - this comes out to $7.82 usd for a collection with a token mint cost of 7.7 cents per token.
I have a cool project to do a CINE NFT collection of, so I will be getting the permission to do that and launch my collection as a test run.
Development encouraged
So as you can see, the NFT community is rapidly building itself, from interfaces to markets to teams of people ready to help you create your own NFTs. But each and every blockchain and project needs you - and by you I mean
need people with great ideas and desire to make NFTs
Really no one knows where this is going, many of us just see a part of the potential of where this is going. If you have an interesting and unique NFT idea, it would be worth the time picking a blockchain to work on, understanding your budget, and understanding one more key point:
Every customer needs a wallet.
And I mean this in both ways, they need an 'account', which is a pair of public-private keys, and they also need a software to visualize their 'account'/wallet.
For HIVE, this is HIVE Keychain. For Ethereum and BSC, its Metamask or others, such as Trust Wallet.
Choose wisely, and know that educating your customer base is the 'real hard part'.
Freedom and Friendship
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I always wanted to know how nft is stored. How can letter and character keeps a picture. Then I find out the address is just a link to a website that has the nft. I heard that people are willing to pay a million for the bored bear yacht. If the link is broken or the site no longer has it running, then your nft is worthless !
Best is use the ipfs system
You can combine this with decentralized storage such as Sia, IPFS, StackOS and similar projects. That way you will be able to preserve the actual along with the certificate of ownership.
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Definitely a nice and informative post, didn't know about ICEBRK, will check them out if I am ever in need!
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This is really nice and a work well-done, thanks for sharing I appreciate it a lot
I find your comments to be increasingly repetetive and banal. I feel like we had a connection before, so I am being frank with you.
I am sorry if i comment wrongly I just find the post informative and helpful which is why I comment that way but I will adjust next time and reply with a reasonable one
Its not wrong, just boring and I want you to make a comment worthy of my upvote so you can grow
Thanks I will do just that next time
The people doing V2K with remote neural monitoring want me to believe this lady @battleaxe is an operator. She is involved deeply with her group and @fyrstikken . Her discord is Battleaxe#1003. I cant prove she is the one directly doing the V2K and RNM. Doing it requires more than one person at the least. It cant be done alone. She cant prove she is not one of the ones doing it. I was drugged in my home covertly, it ended badly. They have tried to kill me and are still trying to kill me. I bet nobody does anything at all. Ask @battleaxe to prove it. I bet she wont. They want me to believe the V2K and RNM in me is being broadcast from her location. And what the fuck is "HOMELAND SECURITY" doing about this shit? I think stumbling over their own dicks maybe? Just like they did and are doing with the Havana Syndrome.
They are reckless and should have shown the proper media what they had before taking me hostage for 5 years.
What would you say while having a gun pointed at your head from an undisclosed location? Have people find it? My hands are tied while they play like children with a gun to my head. Its a terrorist act on American soil while some yawn and say its not real or Im a mental case. Many know its real. This is an ignored detrimental to humanity domestic threat. Ask informed soldiers in the American military what their oath is and tell them about the day you asked me why. Nobody has I guess. Maybe someone told ill informed soldiers they cant protect America from military leaders in control with ill intent. How do we protect locked up soldiers from telling the truth? https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
While I am not opposed to NFTs, I find that most of them don't really have any use. It's one of the bad points with most of the NFTs out there because the base value isn't there. I also think WAX is also a great blockchain to deal with NFTs due to a similar RC structure to Hive. You do have to pay for RAM to store your NFTs though.
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I've created some NFT's on the WAX blockchain. It's pretty easy to do so and pretty cheap in addition if you have enough RC. I'm working on trying to create NFT's on Hive as well using the small contracts that are offered on Tribaldex. The contracts are ready to use but explanations are definitely a bit difficult to grasp :-)
Yes I agree the documentation is lacking
Wax is a bit confusing, but yeah I tried it out and minted some NFT tickets which were very cheap. Trying to further develop this idea of NFT tickets and also trying to give them further utility to make them attractive.
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Once you get how it works, minting NFT's on wax is pretty easy and quite cheap. I believe that it wouldn't be much more complicated on Hive but there needs to be a better documentation. While trying to create NFT's I've to actually look into the code to understand how things work and still there are a lot of question markes...
i am looking forward to this!
This was a very valuable read! Thank you for this. I had to laugh out loud seeing that image with "you just right-click and save" lol.
I have just shared this post on Listnerds as well as I think more people will learn a thing here and there when reading this. Thank you for sharing that!
What does the code side of creating Hive-Engine NFTs look like?
I am going to make guide, but so far with tribal 'outpost' interface all code is in background.
Strange that there's not a single full guide of How-To publish NFT collections on the Engine so far. I was really hoping after the PunkZ launch, that some parts of that Engine would reach the light of day. But I was wrong.
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I found this post through ListNerds. I actually learned a lot reading this.
Informative post. To think some people are paying $1000s for NFTs. They better hope everything stays in place to access their purchase.
So, what about Deso and Eos? Those are blockchains too with tools to mint and socialized around the nft projects. They users have a wallet, just like us in Hive. I'm just trying to learn here.
I search and read on the web a lot and get confused most of the time.
I was thinking about EOS and its various forks, but it seems like a hot mess over there right now, maybe you can recommend a community that is doing well?
I can't. I read a few articles about Eos and Deso, it's interesting how they claim to be the only or first blockchain to solve the major issues: true ownership, censorship resistance, monetize. But, what about Hive? I see misinformation about the blockchain context. At least, for a newbie like I am.
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Hello very good post
Post read from Listened
It has my vote for it.
Thanks, @ecoinstant for the information. This really helps to understand how NFTs work
Hello friend, I have read your detailed article and like to share my thoughts.
Final words, yes I can make simple pixel style art which I do in my spare time and also have a listed some on opensea. If you like to list some on hive do let me know.
Thanks for reading..
ECO wen NFT :p
https://www.cinetv.blog/@ecoinstant/collection
Halfway done! I had an error, but it appears to be resolved so I can continue -
Please keep us posted, creating NFT collections is very important and there's just not enough open code to review on this for the Hive Engine. At least from my perspective and I'd really love to get enlightened!
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