How to buy NFT video: A Beginner’s Guide
Non-fungible tokens, or NFTs, have spread across various sectors and have been tremendously successful in all of them, including but not limited to arts, sports, and music. Video NFTs are a newer category of digital art and are trending, all thanks to digital creators, vloggers, and small-time video creators. If you are considering investing in video NFTs , we will help you out.
This article will cover the basics of creating, buying, and selling NFT videos so that you can get a solid understanding of the concept.
How to create an NFT video?
Creating video NFTs involves simple steps that involve the creation of the video content, minting the NFT, and listing it on a selected NFT video marketplace. However, before creating a video NFT, one must consider the following pointers:
NFT video size and format options:
Before creating a video NFT, one must be aware of the formats and sizes accepted by a marketplace. Each platform has its rules, requirements, and guidelines that must be followed to create a video non-fungible token on that platform. For instance, JPG, PNG, GIF, MP3, MP4, SVT, WebM, OGG, and other formats are usually acceptable.
Similarly, video size will be limited; some platforms accept up to 3 GB of non-fungible token video, while others only take 10 MB. As a result, to avoid confusion, you must first review the platform’s requirements before producing the non-fungible token.
NFT video dimensions and resolutions:
Like video format and size, video resolution is another important factor you should consider before making an NFT video. It is recommended to save the NFT video in 1080px resolution and square 1:1 video format to get it accepted on the NFT marketplace.
Crypto wallet for transactions:
One must have a digital wallet account before creating video NFTs as the creation process requires a certain amount of transaction fee or gas fee. The wallet is used to store cryptocurrency for transaction purposes.
Here’s a general overview of the NFT video creation process:
Choose an NFT marketplace:
The first step is to select an NFT marketplace that matches your requirements to create a video NFT. Each platform will have its pros and cons and guidelines you must understand before registering on them. Some of the pointers that you must consider to choose a site include the blockchain used by the platform, the wallets it supports, gas fee, listing fee, and any other fee (if it is included).
Here are some platforms you can consider: UPYO, Rarible, Foundation, OpenSea, SuperRare, etc. Once you select a platform, you can sign up or register on the platform (usually, there will be no registration fee, so you can sign up easily with a valid email address).
Connect your wallet:
As discussed earlier, you must have a digital wallet to carry out the transactions that are required on the platform. Therefore, if you do not have a wallet account, create one and connect it to the NFT video platform that you have chosen.
Fund your wallet:
Cryptocurrency is needed for making and selling videos as NFT on the NFT platform, and to do that, you must choose a crypto trading/exchange site to add cryptocurrency to your wallet. To add the funds, you must exchange your ‘fiat’ currency for any cryptocurrency that you want, including Bitcoin, Ether, or Altcoin. Usually, the cryptocurrency you want to have will be determined by the blockchain and marketplace you have already chosen.
Create your NFT videos:
Most platforms will feature a “Create” or “Mint” button that will allow you to upload a file containing your video. This step may involve a fee payment step (gas fee, minting fee, etc.); however, the transaction fees vary depending on the NFT platform and blockchain. At UPYO, you get the option to upload single or multiple NFTs through the “Create Single” or “Create Multiple” option.
Ensure your video has the right aspect ratio, format, and size. You can edit the video if you want and adjust various parameters, such as adding filters or correcting the color or exposure. After you’ve uploaded the video, you can input additional information as requested by the marketplace, such as a price, a name, the name of your “collection,” and a description.
How to sell NFT as a video?
Making money from NFT videos is easy if you know how to create the NFT and promote it to garner the required attention of investors. You can follow the steps given above (How to create an NFT video) to sell video non-fungible tokens.
Simply put, you’ll have to choose an NFT video platform, connect your digital wallet to it, add crypto, and finally create an NFT video of your choice. Only you mint the NFT, add appropriate information to it, and it to the NFT listings for sale. You can add terms and conditions and royalty information while uploading the NFT.
One can sell a non-fungible token in two ways. In other words, there are two popular modes of selling NFT – auction and fixed price system. You can choose any of these as per your preference. Usually, auctions are timed, and fixed-price sales are not timed.
How to buy video NFT?
Investing in NFT videos can be done by following the below-given steps. Purchasing NFT videos follows a similar path to creating and selling non-fungible token video processes.
Firstly, you will have to choose a NFT marketplace where video non-fungible tokens are available and then link your digital wallet to it. You’ll next have to add crypto to the wallet so that you have sufficient funds to make your transactions. Once all these steps are completed, you can then:
Browse the NFTs on the platform:
Use the marketplace’s search or browse feature to find video NFTs that interest you. You can explore different categories, filter by price range or artist, and discover the available options. Read the descriptions and view any associated media to better understand the video NFTs.
Place a Bid or Make a Purchase:
Once you have chosen the video NFT you want to buy, you can either place a bid or proceed with a direct purchase, depending on the marketplace’s options. If bidding, enter the desired amount you’re willing to pay and wait for the auction to end. If opting for a direct purchase, follow the instructions to complete the transaction.
After placing a bid or initiating a purchase, you will likely be prompted to confirm the transaction through your digital wallet. Ensure that the wallet is connected to the marketplace and review the transaction details, including the price, gas fees, and additional charges. Approve the transaction to finalize the purchase.
Receive and Manage the Video NFT:
Once the transaction is confirmed and the purchase is successful, the video NFT will be transferred to your digital wallet. You can view and manage your NFT collection within the wallet’s interface. Some wallets allow you to display your NFTs or interact with them in various ways.
Why must you invest in video NFT?
Investing in video NFTs can offer several potential benefits and opportunities. Here are a few reasons why some people choose to invest in video NFTs:
Unique and Scarce Digital Assets:
Video NFTs represent unique and rare digital assets, and owning them grants a sense of ownership and authenticity over that asset.
Potential for Value Appreciation:
Video NFTs have the potential to appreciate in value over time. As the demand for digital art and NFTs continues to grow, well-curated and sought-after video NFTs may increase in value, offering a potential return on investment.
Access to Limited-Edition Content:
Many artists release limited-edition video NFTs, allowing collectors to gain access to exclusive content that may not be available elsewhere.
Diversification of Investment Portfolio:
Video NFTs offer an opportunity to diversify an investment portfolio. By including digital assets in your investment strategy, you can balance traditional investments with emerging opportunities in the digital art and blockchain sectors, potentially reducing risk and exploring new avenues for growth.
buying video NFTs provides a unique opportunity to own and collect digital art in a new and innovative way. By following the steps outlined in the process, you can navigate the world of video NFTs and participate in this growing market.
Investing in video NFTs can offer various benefits; however, it’s important to approach NFT investing with caution, understanding the risks and uncertainties associated with market volatility and the evolving nature of the digital art landscape.
Whether you wish to learn about NFT, Blockchain, Web3.0, Metaverse, or other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.
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