If 2017 was the year of the ICO and 2020 was the year of DeFi, 2021 will undoubtedly be the year of NFTs. With news that one of the major NFT marketplaces is now turning over the same volume in 24 hours as in the entire year 2020, NFTs have caused a stir in both the cryptoverse and the mainstream media.
Many celebrities are jumping on the NFT bandwagon by purchasing, minting, and selling their own pieces and private collections. Messi, perhaps the most notable in recent weeks, has turned over more than $2.5 million dollars in the first day of the Etherenity Chain auction of his private collection.
What exactly is minting, and how do you go about making your own NFT?
To begin, we must recognize that, unlike cryptocoins, NFTs are not fungible. That is to say, they are one-of-a-kind and cannot be replaced by any other token, just as a work of art cannot be replaced by another. A coin like Bitcoin, on the other hand, has the same value as any other Bitcoin, making it fungible and interchangeable.
Minting an NFT entails creating it from scratch. The ERC721 token, which is a smart contract, is the standard token for an NFT. This is a modified ERC20 token. Each of these ERC721 tokens has been designed to be authenticated on the blockchain and is one-of-a-kind (unlike ERC20 tokens).
Minting NFTs without the use of code
Unifty is one tool that is changing the face of the NFT world. It’s a product and platform that allows people who want to make their own NFTs to do so without having to know how to code. This saves time, money, and effort compared to hiring a developer to turn your artwork or media into a one-of-a-kind token, and it means that anyone can make NFTs for a very low price.
Unifty also allows you to create your own marketplace, where creators can take it a step further by displaying and selling their own work. Users can also convert their TikToks into NFTs and sell them on the market, merge their own NFTs into collections, and even create their own custom farms for staking ERC20 tokens and redeeming NFT rewards (ERC1155).
Unifty’s project is bringing the world of NFTs to everyone, bringing this exciting field into the mainstream. They’re effectively democratizing NFTs, making them accessible to people who don’t know how to code. Anyone, without knowing a single line of code, can create their own unique pieces using a simple step-by-step format.