NFT Playground Amsterdam is in the heart of Amsterdam, located at the corner of Vijzelgracht and Weteringcircuit, where a team of crypto revolutionists transformed 200 m2 of open space into an immersive workplace for crypto enthusiasts wanting to get involved in the Web3 Ecosystem.

Founder Bart Bloemers: “NFT Playground wants to be the no.1 introduction to the Web3 Ecosystem for all curious-minded people, entrepreneurs, and artists. Our space is for you if you want to learn, meet up and work together with others to explore the possibilities of NFTs. We teach you to grab your own NFT, trade them, or get involved in NFT projects.”

The green walled Playground converted its identity this summer, and from June the 10th, it functions as a Digital Art Gallery, Co-Working space, and educational place. Participants are welcome to become a member of the DAO as well.

About the Playground

You are welcome here to meet with the new players in this upcoming industry. Mint some art in the space, or bring your laptop to work there. Sign up for a workshop or masterclass with one of their members. Don’t forget to make new friends and have them also encounter other revolutionists! 

Create your first NFT with NFT Playground Amsterdam

At the heart of Amsterdam, located at Weteringdwarsstraat 107, 200 m2, you will find an immersive Playground for crypto revolutionists.

At their events, you can learn more about purchasing, finding, or creating Digital Art and NFTs and onboard artists hungry for more.

Check their calendar for the following dates. 

NFT Playground is ready to give you a crypto jumpstart!

What do they do?

• onboarding new enthusiasts (How to create, sell or collect NFTs)
• onboarding for local artists (Target audience // how to sell // NFT workshops)
• Connecting around web3 (Meetup/NFT events/ Community Calls/ Co-working)
• Exhibition (Digital Art / NFTs / Glitch/)

Access to the Playground is free

Why participate?

If you also feel that the world needs more decentralization, more digital art, and more collaboration opportunities, go over and join!

Go here to visit NFT Playground Amsterdam’s website and Discover More >

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Since the NFT Market is booming worldwide, many artists are considering turning their content into an NFT.

Whether this is profitable will usually depend on how much you can expect to pay to create your NFTs.

There are a few costs to consider. Foremost, you will need to pay the gas fees. These will average around $70 on the Ethereum blockchain. You might also pay site fees, like those involved with listing the NFT for sale, which can vary from almost nothing to $900 (drastic situation), depending on the site you are using. 

Specific platforms will allow you to postpone the minting fees to the buyer, or you can always mint an NFT supported by a blockchain that doesn’t have costs.

So, the charges of creating an NFT aren’t onerous, especially when compared to the ones of buying an existing one.

Our suggestion is to start with the basics. If you want to create your own NFT project or NFT art, you will need to get used to the process of minting. 

What is Minting an NFT? 

“Minting” an NFT means publishing your token on the blockchain to make it purchasable. You will need to have some items that you intend to turn into an NFT: digital art, books, Tweets, random images, memes, audio, concert tickets, or video, to name a few. 

Oh yeah, you’ll also need to have a wallet and the right software; a wallet like Metamask will generally work. 

From there, it will be easy, as you will need to upload the items to your platforms of choice, like Rarible or OpenSea. In this way, your digital artwork will move onto the blockchain with a click. Of course, you will still need to pay some fees for the transaction.

Once completed the minting process, it can then be listed for sale and sold like any other NFT. There are multiple options for selling your NFT, like an auction or fixed price. 

So what are the Costs Associated With NFTs? 

You will need to consider a few costs when minting an NFT, like: 

• Gas fees. These are common to all cryptocurrency expenses. It is a form of reward for the people providing the computational power to secure the network; it can fluctuate, depending on how many transactions perform at the time. 
• Account set-up fees. Whether this will apply will often depend on the site. 
• Sales fees. Sometimes, you will be able to mint the tokens for free. But if you want to sell them, you will need to pay the price. 

Knowing what you will need to pay for allows you to look at roughly how much this will cost you in total. 

While these fees are essential, and you should research them carefully, they aren’t the only thing to consider. It’s also important to consider the type of audience of the site. For this, it might be worth paying a slightly higher fee if it grows the chance that someone will buy your NFTs. 

Often, one of the most considerable fees you will need to pay is gas, which applies to all transactions on the blockchain. Yet, creating an NFT takes up more time than transferring money. Because of this, you will need to pay higher gas fees. 

On average, though, you can expect to pay around $70 in gas fees when using the Ethereum blockchain to secure the token. 

This fee can frequently change, depending on a range of factors. Here are a few tips to reduce the amount you need to pay: 

• Delay until it’s the night before processing the NFT. Often, the number of fees you will need to pay will depend on how busy the network is. By staying up late, you should be able to reduce the number of transactions occurring. 
• Be patient. If you need something urgently, the network will prioritize that task. In exchange, you will need to increase the gas fees. 
• Avoid the weekend. Most people will be trying to access the network during this time. Because of the increased demand, gas fees will be higher. 
• Create an NFT series. Create one NFT with multiple editions and sell the editions individually.
• Choose the correct currency. You will often find a significant difference between the currencies. 

If you take these tips, you should get reasonable fees. However, you won’t know how much you will need to pay until it comes time to process the transaction. Plus, cryptocurrency’s price constantly fluctuates, making it even harder to predict how much these transactions will cost. 

How to pay the fees

It would be best to consider how you will pay these fees, knowing that they will often depend on the site. In some cases, you will need to have the money upfront before adding an NFT to the blockchain. 

However, some other sites will take a percentage from the initial sales price. For example, some sites might charge around three percent per sale. 

At other times, you will pay a subscription fee, which is a monthly fee required to keep the NFTs up for sale, which can quickly add up if your NFTs aren’t selling. 

If you have the option, it’s best to pay upfront, as you have a clearer idea of how much profit you stand to make from any potential sales. Plus, any additional fees involved in the buying or selling will be relatively low. 

On Rarible, though, you can mint your NFTs for free. Rarible indeed allows you to pass the minting and listing costs to the buyer, a process known as lazy minting. 

Other than spending money to create NFTs, focusing on earning is useful to choose the right royalty option. What if you made a royalty every time it sells for the life of the NFT? That’s the magic. You could add a whatever you want % royalty into your NFT contract, meaning you get that percentage every time the NFT sells!

Want to know how to create one?

Or perhaps you first need an overview of the best NFT Marketplaces?

The post NFT News | How Much Does It Cost to Create an NFT? appeared first on Hue & Eye.

While non-fungible tokens are up and rising, there’s still a quizzical for fashion brands and NFTs. 

Will fashion brands grow by NFTs? Questions on whether the young crypto wealthy public will be inspired by luxury fashion NFTs and what they will look like are starting to settle.

As for today, while stories of NFTs record sales continue to break the news, the fashion world still sits quietly. The truth is, fashion brands are starting to studying blockchain creativity and business opportunities.

The question is just who will pull the trigger first, says Marjorie Hernandez, founder of Lukso, a blockchain platform for fashion and digital lifestyle. Hernandez takes over the urge for fashion brands to keep ahead of the e-commerce trend, hence the enthusiasm to experiment with new technologies like blockchain.

As anything digital can be turned into a unique NFT with its ownership recorded on a digital ledger or blockchain from art to music, people in the fashion world are starting to ask themselves what they can do in the NFT space. 

Proponents claim that NFTs’ scarcity and ability to accrue value can bring digital fashion closer to authentic fashion. Last March, Burberry luxury fashion brand has designed outfits for one of China’s biggest video games – for which players can buy the clothes – known as skins – to adorn in-game characters.

The current Fashion NFTs attitude.

 At the moment, though, NFT fashion still has an artistic over the commercial appeal. Brands can currently sell NFTs as GIFs which have limited usage for the buyers. The current fashion NFT user experience requires the luxury fashion shine that is presently replaced by a virtual gaming offer, as on the virtual platform Decentraland, where players can buy fashion NFTs to inhabit their avatars. On Decentraland, we encounter various marketplaces holding real-world brands, although the outfits are cartoonish and pixelated. More further, the annoyance of setting up a browser-based Ethereum wallet is not appealing to luxury fashion brand buyers.

Things are yet to change.

Recently, Neuno CEO Natalie Johnson, a new platform for digital fashion collectibles and wearables to buy, collect, wear or trade and sell on the Flow Blockchain, says things are at a turning point.

They are working with a social media platform specializing in filters, so the owner will post a photo of themselves ‘wearing’ the dress. Furthermore, they are also working with one of Asia’s biggest games to make it possible to dress their gaming avatar in the outfit. The buyer will need to buy the NFT once to use it in multiple different ways.

Neuno only works directly with brands to ensure a premium user experience and authenticity. Also, the buyer may pay with credit cards to exclude the need to own cryptocurrency. 

Fashion NFTs as digital collectibles

Many smaller brands and retailers have already hopped into the NFT game in various creative ways and are selling fashion NFTs on marketplaces like OpenSea, Nifty Gateway, and KnownOrigin.

For example, Clothia – a US online retailer in the accessible luxury department, applies NFTs as a digital counterpart of a real-life garment by auctioning NFT dresses. The winning bidders will receive the analogous real-life dresses. Also, both the NFTs and the physical garments are one-of-a-kinds.

Clothia also became the first established fashion business to launch a community-driven cryptocurrency known as $Cloth. 

The real opportunity is that one may now create all kinds of digital couture looks that could never exist in real life, says Amber Jae Slooten, co-founder of The Fabricant, a digital fashion house. They recently ran a 3D fashion design competition in collaboration with Adidas and Karlie Kloss’s nonprofit, Kode With Klossy. The top 20 submissions were then auctioned as NFTs. They were on display in a gallery in Decentraland. This way, visitors inhabiting avatars could view the artwork and bid on the designs virtually. 

The winning design netted 1.4 ETH, about $2,400 at current exchange rates. Proceeds from the auction went directly to the featured artists. The voluntary contributions instead supported new events and programming for Kode With Klossy’s alumni community of more than 5,000 scholars.

Not bad for now!

–

Are you interested in more NFT related topics? Read more and follow us!

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NFT definition’s easy as it sounds: Non-fungible tokens. But what does it really mean?

We are covering the basic aspects of creating and selling your NFT art in our article here, but before reading it, we suggest you read this article to understand the real meaning of NFT and get familiar with it.

THE MEANING OF NFT

It’s simple to memorize that NFT means Non-Fungible Token.

But how to go on from there?

“I am interested in that crypto thing that’s super trendy right now… I think they call them NFTs, but what does that mean? And where do I start from?”. 

Is that you?

We all got there.

Revealing the meaning of NFT and why an artist should know its advantages it’s easier than it might seem at first glance. Let’s investigate those only important aspects for artists to understand by only slightly touching those technicalities that are not worth comprehending entirely.

First of all, let’s distinguish them from cryptocurrencies.

Like dollars, cryptocurrencies are “fungible,” meaning one bitcoin is always worth the same as any other bitcoin. By contrast, NFTs have unique valuations set by the highest bidder, just like Warhol or Picasso’s art pieces.

You can think of NFTs as a digital certificate of authenticity.

A non-fungible token, or NFT, is a unique certificate intended as crypto coding containing digital information and entirely managed on a blockchain.

A blockchain, by any definition, is a record of crypto transactions. Today there are many Blockchain platforms available, with all different features. But every blockchain is decentralized, meaning countless copies of the same database are maintained by multiple people, called miners or nodes, and managed by an algorithm.

This process will secure that the information is steadily transparent and cannot be forged anyhow by anyone.

Quick note: a miner in the network collects transactions and organizes them into blocks on the blockchain. When someone submits a transaction, all network miners receive it and verify its validity. As soon as approved, that same action gets automatically public on the blockchain. Everybody can see it transparent.

That’s simple as it sounds.

HOW DO NFT WORK?

An NFT may be one-of-a-kinds, like a physical painting, or one copy of many, like trading cards. As art prints of original artwork are bought and sold, copies of an NFT are still valid elements of the blockchain – but they will not hold the same value as the original.

An NFT may also represent a property or contain information (or metadata) that will automatically regulate that property’s ownership.

Besides, the blockchain keeps track of who has ownership of a specific asset.

Since each NFT is non-fungible, and each token is non-divisible and different from one another, NFTs’ attributes of originality and scarcity make them also very appealing when linked with digital art.

Finally, NFTs also make traceability much more accessible, establishing authenticity and the work’s provenance.

WHY DID NFTs GET IN THE NEWS SO QUICKLY?

One benefit of NFTs is that they can be used to determine an object’s digital provenance, allowing and proving ownership. In other words, it’s a way to create scarcity – albeit artificial – so that you can sell something for higher prices thanks to its scarcity. This ownership information is stored on the blockchain with a specific ID and linked to unique metadata. Hence, it became part of an algorithm.

More interesting is that NFTs’ value derives from owning the whole entity. The non-divisible nature of NFTs also helps with ownership rights and verifying provenance.

Besides associating the artwork to an NFT, software code called smart contracts may regulate aspects like managing transferability and paying royalties. Therefore, NFTs can be extended beyond the sole ownership and transferability and include various other applications and functionality, like linking the NFT to another digital asset.

For example, one may write on a smart contract to automatically distribute a portion of the amounts paid for any subsequent sale of the NFT back to the original owner to give the owner the ability to recognize the minor marketplace’s benefits.

Sources:

https://ethereum.org/en/nft/

https://academy.binance.com/en/glossary/non-fungible-token-nft

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