Lost on how the NFT works

[Mimiklinton]

Good day guys,this might or might not be the right place to post this,but as an enthusiast of crypto,and a newbie here too,I think I might just find some sot of knowledge here on NFT.first my knowledge of bitcoin is minimal thou,but am highly interested on how nft works..over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently..so if any have a good idea of how this works should enlighten me please.

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[Sandra_hakeem]

Good day guys,this might or might not be the right place to post this,but as an enthusiast of crypto,and a newbie here too,I think I might just find some sot of knowledge here on NFT.first my knowledge of bitcoin is minimal thou,but am highly interested on how nft works..over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently..so if any have a good idea of how this works should enlighten me please.

First of all, I'd say a very big welcome to the forum for joining us here.
Nfts (non-fungible token) are simply piece of commodities that has more or less value like crypto and depreciates over time depending on the schedule of demand or the availability of that particular piece of art. It's very interesting to invest in it but you shouldn't expect any immediate profits accumulation as it sometimes takes a long period for this art piece to either appreciate (if already depreciated) or to find someone who could patronize on a good profits scale; most client might even go as far as bargaining the same price it was bought or even lower and when this happens, it becomes a loss. Snoop dog might make a hug profit because maybe he sold a rare commodity that has its price tag at its peak and are sometimes not negotiable.! I hope this can atleast put you on a clue about what it's and how it works.
Sandra  

[Maus0728]

over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently

It isn't limited to "aRtWorks" only, some people are selling their selfies^[1] and sexy pictures^[2] that is being sold for thousands of dollar.

[1] https://opensea.io/collection/ghozali-everyday
[2] https://opensea.io/collection/irenedao

So yeah, you are basically buying a digital signature or receipt of images that's being recorded on a blockchain to serve as a proof that you own that digital asset. And mostly, the NFT scene is full of people who speculate or flip for capital gains.

[batang_bitcoin]

Good day guys,this might or might not be the right place to post this,but as an enthusiast of crypto,and a newbie here too,I think I might just find some sot of knowledge here on NFT.first my knowledge of bitcoin is minimal thou,but am highly interested on how nft works..over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently..so if any have a good idea of how this works should enlighten me please.

This is the right section.
As you've explained, you have already understood the process of NFTs that are into artworks but it can also be in other forms. That's all you need to do, mint your artwork as an NFT and sell it in the market like opensea.
You'll just have to wait for someone to bid or buy it. There's no deeper understanding on it, even just the basic knowledge, you've already understood how it works.

[Captain Corporate]

 The biggest problem with peoples understanding of NFT is the fact that they think it is about art and art alone. NFT doesn't mean anything regarding art, it means proof of ownership for something. Which means you could use this to provide a proof of ownership for art, a car, a house, a song, a book, a chair, ANYTHING you want would be able to use NFT system to provide proof of ownership. Obviously easiest was the version where people shared Apes and punks together and make it more viral, because NFT house ownership proof doesn't really sound too meme and too viral and it wouldn't be this fun.

 So know the difference, NFT means none-fungible token, it doesn't mean "look at these pictures" or anything like that, thats a way of using it, but not the only way.

[Jaered]

NFT basically means a piece of art whether painting, picture, song, video, even games that you own exclusive rights, being minted on the blockchain. Remember they are non fungible. No 2 NFTs are the same

[goinmerry]

Good day guys,this might or might not be the right place to post this,but as an enthusiast of crypto,and a newbie here too,I think I might just find some sot of knowledge here on NFT.first my knowledge of bitcoin is minimal thou,but am highly interested on how nft works..over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently..so if any have a good idea of how this works should enlighten me please.

What exactly do you want to do? Create NFTs? Or just a simple buy and sell?

Creating NFT on-sale is quite easy. At minimal cost, you can sell it like on OpenSea. The problem is, not all are bound to be sold even there are lucky persons who already got a profit by selling a simple NFT.

If you want to buy and sell, it's like how trading stuffs works in layman terms.

[bittick]

over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently..

Making money from NFT totally depend with the hype. if your art or NFT will not get any hype and your NFT will be useless and remember that opensea will implement function to remove inactive NFT from its platform.

so if any have a good idea of how this works should enlighten me please.

It's quite simple like you are creating your own art and then try to submit it on opensea and minted it as NFT and then you just put your NFT into the market place and put how much you wanna sell your art for others and when others interested with your art and he will be buying it, that's it. It's simple as that. it's pretty much the same like you're creating your own product to be sold with others.
I guess only small amounts of percentage from the whole NFT already minted on opensea already bought by people.
The hardest thing to attract others to buy your NFT.

[AmoreJaz]

over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently..

Making money from NFT totally depend with the hype. if your art or NFT will not get any hype and your NFT will be useless and remember that opensea will implement function to remove inactive NFT from its platform.

so if any have a good idea of how this works should enlighten me please.

It's quite simple like you are creating your own art and then try to submit it on opensea and minted it as NFT and then you just put your NFT into the market place and put how much you wanna sell your art for others and when others interested with your art and he will be buying it, that's it. It's simple as that. it's pretty much the same like you're creating your own product to be sold with others.
I guess only small amounts of percentage from the whole NFT already minted on opensea already bought by people.
The hardest thing to attract others to buy your NFT.

first, try asking yourself. do you really have in you to create a valuable nft art? because if you are just adding from those crappy collections that you can find in opensea or in other nft marketplaces, better not pursue this path. because the chance that the one who will buy your art will just be a poor guy holding a worthless nft item in the future. i can understand if you are a real artist and you want to sell it in the market.

but anyway, if you want you can browse or search in google and you can read this article , where it discusses on how to make and sell your NFT

[julerz12]

Good day guys,this might or might not be the right place to post this,but as an enthusiast of crypto,and a newbie here too,I think I might just find some sot of knowledge here on NFT.first my knowledge of bitcoin is minimal thou,but am highly interested on how nft works..over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently..so if any have a good idea of how this works should enlighten me please.

A much easier way to learn about this is to search your questions on the internet (google it) and you'll be instantly bombarded with answers.
If you like reading, here are a few articles I found just by searching "WHAT IS NFT"
https://www.forbes.com/advisor/investing/nft-non-fungible-token/
https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq

You could also get a ton of results on Youtube about it. I'd say watching a video about it is the best way to learn more about NFTs.
https://www.youtube.com/results?search_query=what+is+NFT

[Mimiklinton]

Good day guys,this might or might not be the right place to post this,but as an enthusiast of crypto,and a newbie here too,I think I might just find some sot of knowledge here on NFT.first my knowledge of bitcoin is minimal thou,but am highly interested on how nft works..over the last couple of months,I have read people selling their work of art,some pieces and making bulk of money,iven snoop dog cashed out on NFt recently..so if any have a good idea of how this works should enlighten me please.

First of all, I'd say a very big welcome to the forum for joining us here.
Nfts (non-fungible token) are simply piece of commodities that has more or less value like crypto and depreciates over time depending on the schedule of demand or the availability of that particular piece of art. It's very interesting to invest in it but you shouldn't expect any immediate profits accumulation as it sometimes takes a long period for this art piece to either appreciate (if already depreciated) or to find someone who could patronize on a good profits scale; most client might even go as far as bargaining the same price it was bought or even lower and when this happens, it becomes a loss. Snoop dog might make a hug profit because maybe he sold a rare commodity that has its price tag at its peak and are sometimes not negotiable.! I hope this can atleast put you on view,due to some certain reasons,I fina clue about what it's and how it works.
Sandra  

Owk Sandra,I find this reply very helpful,thou it took me a year to reply due to certain reasons beyond my control. Nevertheless thank you.