Moonpreneur
So, my friends were discussing an interesting video on Non-fungible Tokens (NFT) the other day, and they were eager to invest in it because of the promised bullish return. Unfortunately, I couldn’t understand anything they said because it was completely foreign to me.
So, when I got home, I decided to do some research and update myself on NFT – digital assets that represent ownership of a unique item or piece of content like images, videos, and music. An amazing platform, it can help you take your children’s creativity to the next level hence sharing the details with you.
Basic Facts
NFTs entered the picture in 2014, and in recent years, they have gained traction and become a sought-after medium for buying and selling digital artwork.
They are stored on a blockchain – a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. This distributed database enables secure and transparent record-keeping.
NFTs are often used to represent items such as artwork, collectibles, and virtual real estate, but they can also be used to represent other types of unique digital assets, such as event tickets or membership passes.
How are NFTs different from Cryptocurrencies?
NFTs are purchased and sold online using cryptocurrency, but they are unique and cannot be exchanged for other tokens or assets on a one-to-one basis. This makes them distinct from other types of cryptocurrencies, which are often interchangeable and can be traded for other assets.
NFTs can assist investors in storing their wealth. It should also be noted that some buyers profited from their NFTs.
The stories circulating about Miami-based art collector Pablo Rodriguez-Fraile are incredible. In October 2020, he spent approximately $67,000 on a 10-second video artwork that he could have watched for free online. According to reports, he sold it for $6.6 million in 2021.
Here’s another one. Beeple, Michael Joseph Winkelmann, an American digital artist, graphic designer, and animator, created history on March 11, 2021, when she became the first artist to sell a digital art collection as an NFT for $69 million.
Since November 2017, a whopping $174 million has been spent on NFTs.
This is the right time to introduce your child to the NFT platform and here are some NFT platforms that may be suitable for children:
1. OpenSea:
OpenSea is a marketplace for buying and selling NFTs and a variety of user-generated content such as art, games, and collectibles. It has an easy-to-use interface and a large community, and it could be a good platform for kids to share their artwork and receive feedback from other users.
To create your NFT, you can use a variety of file formats such as images, videos, audio, and even 3D models.
The maximum file size: 100MB. The platform recommends keeping it under 100MB for faster load times.
Do you know OpenSea has 42 million NFTs?
2. Rarible:
Rarible is also for buying and selling NFTs, and it has a wide range of user-generated content, including art, music, and collectibles. It has a user-friendly interface and a large community, and it may be a good platform for kids to share their artwork and get feedback from other users.
The maximum file size: 30MB and it includes PNG, GIF, WEBP, MP4, or MP3 file types.
Do you know that there are 319,315 Rarible NFTs?
3. KnownOrigin:
KnownOrigin is a digital art marketplace with a large selection of user-generated content from artists all over the world. The artwork on this platform is authentic and unique. It has an easy-to-use interface and a large community, and it could be a good platform for kids to share their artwork and receive feedback from other users.
On this platform, creators can submit digital artwork as a jpg or Gif to the KnownOrigin gallery, with all files on IPFS.
The maximum file size:
- 150MB for main asset
- 35 MB for cover images, which is mandatory
Do you know that there are 177,182 KnownOrigin NFTs?
4. SuperRare:
SuperRare is another digital art marketplace with a large selection of user-generated content from artists all over the world. It has an easy-to-use interface and a large community, and it could be a good platform for kids to share their artwork and receive feedback from other users.
The maximum file size: For SuperRare, this limit is set at 50 MB, which applies to all supported file types – PNG, JPEG, GIF, MP4, and GLB.
Do you know here are 8,276 SuperRare owners, owning a total supply of 38,277 tokens?
5. Nifty Gateway:
Meant for beginners, experts, and everyone in-between, Nifty Gateway is a marketplace for buying and selling NFTs and a collection of user-generated content such as art, games, and collectibles. It has an easy-to-use interface and a large community, and it could be a good platform for kids to share their artwork and receive feedback from other users.
The maximum file size: On Nifty Gateway, they all have the same size (2024 x 2700px). They are animated and they feature crypto artworks.
Do you know that Nifty Gateway has 10,000 NFTs?
Many NFT platforms are designed for people of all ages and are not geared toward children or adults in particular. However, some platforms may have content or themes that are more appropriate for one age group or another. For example, a platform with primarily adult-oriented content or themes may not be appropriate for children, whereas a platform with more child-friendly content may be.
It is also critical to ensure that children use the internet responsibly and safely, so they should do so under parental supervision. Parents should also be aware of the types of online content their children are accessing, whether through related NFTs or other online mediums. Children should also be educated on the importance of safeguarding their personal information.
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