HELLO STEEMIT members , i hope you all are fine and doing well, so this is my homework given by the honorable professor @levycore , First of all thankyou so much professor.
Crypto academy professors are doing their utmost to help steemit users learn about a variety of topics by sharing their expertise and information in order to help them make better use of this enviroment and helping us to not only learn but also enhance our skills here.
HOMEWORK TASK: Describe one popular project that uses NFT?
SOLUTION:
WHAT NFT IS ??
NFT is a one-of-a-kind cryptographic token with distinct features. Each each of the tokens communicates a different value in its entirety, there are no two identical NFTs. They are very benificial and useful and are also used at many places like gaming tokens, Collection, music etc.
Non-fungible tokens are basically blockchain-based digital assets with specific metadata that separate them from one another. When something is claimed to be non-fungible, it means that it is entirely original and that its meaning can never be replaced by another. Non-fungibleare basically those objects are typically distinct or different and are not dependent.
NFT are mostly used to show files like vidios, collections of coins, photos which are digitalized, These type of objects or files tracked on the blockchain to provide the owner with independent proof of ownership from copyright.
The value of NFT antiques is determined by their possible use , A strong design can sell faster than a weaker one and also with that the NFT which is in high demand will have high price as compared to those NFT those are in less demand.
The principle of NFTs is beneficial to artists because it is better luck than selling a good work at a ridiculously low price if their work is of a high intellectual standard and someone is willing to pay a large sum for it.
Also with that there are many ventures of NFC which are quite usable in market, i,e Sorare, Decentraland, Cryptopunks, Hashmasks , Rarible etc.
And i am selecting Rarible and will talk about it.
RARIBLE:
The Rarible framework is intended for NFT exchange. Basicallu in rarible art collector editions are made and where collectors can buy and sell without any background knowlege. In Rarible user is enabled to make digitialized tokens without any prior knowledge. The best part is it is totally open source open for each and everyone and every can access it and its users and investors are reliable but the main issue is it only supports Ethereum tokens which is a serious issue for the investors and users both and its token which is rari token is mainly used for the Rarible network's governance.
The Current Price of RARI token is 2.7$ and is increasing gradually, and it has captured market of approximate of $77.73 million which is a huge amount as it is not that old it was launched in 2020. But the main issue with it is that it has a very high gas fees so not everyone can afford it.
Even Rari token has been ranked 460 by the great MarketCap, It is one of the most leading NFT project as it is growing day by day and everyday its growth has a rapid increase and its investors and users are also increasing with a great speed even its trading vol in 24 hours is 5.8 Million Dollar and this is such a huge amount.
HOW IT WORKS
So i am sharing steps to create your own NFT by sharing screenshots of following steps.
First we will access website o Rarible and then follow following steps:
Steps are very easy to follow and undertand.
After Accessing website this page will apear,
So on this page there is a side bar on very right top of screen click it so another screen wil apear which will look like this,
here you can see two buttons in the end of page CONNECT and CREATE, we have to press create and then till screen will apear.
Here in this page you have two options Click Singe if you want your collecytion to be of same or of one kind and select multiple if want to sale same item for many items, right know i am selecting Single.
After selecting SINGLE this page has been appeared here it is asking us to enter discription and upload image and i have uploaded my image too as you can see on the screen and with that there are other options like Royalities, name, instant sale price etc.
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and after all this Connect your Wallet screen will appear , these are the steps youhave to follow.
CONCLUSION:
From this lecture my concepts about NFT Non-Fungible Tokens has been clear at a great tevel and i have also learned about its prokect like RARIBLE from your lecture professor @levycore Thankyou so much for this wonderful and informative lecture, this was my first lecture of yours and i have learned alot.
Thats all , This is my homework professor @levycore i hope you like it and once again professor thankyou so much for this informative lecture, This post is totally plag free.
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Hi @shahab1998, thank for submitting your homework
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Good explanation
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Thankyou dear professor for your evaluation!
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