How NFT work?

[hack3rcon]

Hello,
To launch a platform for buy and sell NTFs, what is needed? For example, someone puts a painting on your website to sell its NTF, then how the NTF of that painting reserved? How you can sure he\she not placed it on another NTF site?


Thank you.

[joniboini]

So basically you're trying to build another OpenSea? Isn't it quite simple if you just ask them to 'lock' the NFTs on your website? Basically using a smart contract so that an item is not movable if it's placed on a selling list.

Sure, the seller can easily use the same image to deploy many NFTs, but the token should be unique (if that is not true, maybe your sc is broken).

[livingfree]

Just watch a video tutorial on Youtube and you'll get to see how to mint and work out with your NFT for sale.

AFAIK, there's a limit for the minting/publishing of your NFT and its reserve will only goes to those that will buy it once you put that on sale. You can limit to only 1 or as many as you want.

[hack3rcon]

So basically you're trying to build another OpenSea? Isn't it quite simple if you just ask them to 'lock' the NFTs on your website? Basically using a smart contract so that an item is not movable if it's placed on a selling list.

Sure, the seller can easily use the same image to deploy many NFTs, but the token should be unique (if that is not true, maybe your sc is broken).

Hello,
Thank you so much for your reply.
So, the OpenSea maintains the copyright of the NFTs? Is it legal to sell a same art on multiple marketplaces?

[stomachgrowls]

Hello,
To launch a platform for buy and sell NTFs, what is needed? For example, someone puts a painting on your website to sell its NTF, then how the NTF of that painting reserved? How you can sure he\she not placed it on another NTF site?


Thank you.

NFT's now is undeniably on the trend as of this moment and we cant really deny the hype around.
It is applied on various things like Games, pixilated image etc.

https://www.forbes.com/advisor/investing/nft-non-fungible-token/
https://www.futurelearn.com/info/blog/what-are-nfts-how-they-work
https://www.youtube.com/watch?v=NNQLJcJEzv0
https://ethereum.org/en/nft/

These links would give out at least that clear definition of NFT or would give you the best idea.

[alexsetiawan]

Hello,
To launch a platform for buy and sell NTFs, what is needed? For example, someone puts a painting on your website to sell its NTF, then how the NTF of that painting reserved? How you can sure he\she not placed it on another NTF site?


Thank you.

To launch a platform NFT, you must create smart contract to blockchain.

The weakness of NFT is that it can be duplicated to other markets.

[libert19]

Is it legal to sell a same art on multiple marketplaces?

Ofc it is legal as you can only sell what you own. But you can't sell 'same' art, once someone purchased your art (through whichever marketplace), you have lost ownership to it and it has been transferred to whoever purchased that particular nft.

[crussaders1411]

NFT is an acronym for non-fungible tokens or tokens that are 'non-fungible'. The term dipat means more or less unique and cannot be replaced by anything else. For example, bitcoins, can be exchanged between one another and what is obtained is the exact same thing. So, basically NFT is a digital token that is linked to a large blockchain system. Not much different from some crypto currency assets, the difference is that NFT cannot be exchanged, but can be traded. Generally, NFT is currently used to buy and sell digital artwork. What is bought here is the NFT, as a token of ownership of a work of art.

[Kavelj22]

So basically you're trying to build another OpenSea? Isn't it quite simple if you just ask them to 'lock' the NFTs on your website? Basically using a smart contract so that an item is not movable if it's placed on a selling list.

Sure, the seller can easily use the same image to deploy many NFTs, but the token should be unique (if that is not true, maybe your sc is broken).

Hello,
Thank you so much for your reply.
So, the OpenSea maintains the copyright of the NFTs? Is it legal to sell a same art on multiple marketplaces?

It depends on the network in which you have mint the nft. For example, if your nft is minted in the polygon matic network i guess that opensea marketplace is your only option. And if you will mint them in other networks to be available for sale, you have to consider the network fees which may cost a considerable amount of money as a charge fee for ethereum main network for instance.