NFT Animated Videos — What They Are And How To Create One
Non-fungible tokens, often known as NFTs, are gaining in popularity at an alarming rate these days. These one-of-a-kind collectable crypto items are fetching high prices from investors. One NFT by the digital artist known as Beeple sold for a mind-blowing $69 million in early 2021, and many others have sold for millions or even billions of dollars.
More individuals are starting NFTs with the aim of making a lot of money off of the current frenzy, which is fueled by the prospect of making a lot of money.
What Are NFTs?
In the cryptocurrency world, a non-fungible token (NFT) is a non-interchangeable unit of data that may be recorded on a blockchain, which is a type of digital ledger, and then sold and exchanged. There are several different types of NFT data units that may be connected with digital files such as photographs, videos, and audio. NFTs are distinct from blockchain-based cryptocurrencies in that each token is individually identifiable.
How To Create NFTs?
The process of producing, purchasing, and selling NFTs can be complicated. It has the potential to cause you to lose money rather than gain it. However, if you are not knowledgeable with the many unclear costs, trading might be a high-risk endeavor to do.
Anyway, if you believe you are ready to dive into the realm of NFTs and cryptocurrencies, we’ve put up a step-by-step guide on how to create NFT animated videos yourself or with a professional animation studio.
Choosing an NFT Platform
Different NFTs platforms can also cater to certain requirements, such as YellowHeart, which is focused on music, and NBA Top Shot, which is focused on NBA highlight collections. If you’re just getting started, we recommend Rarible, a community-driven platform. It’s easy and quick to use.
You’ll have to pay a charge to mint — also known as create — your NFTs on any of these sites, which is commonly in the cryptocurrency Ether. Keep in mind that the value of Ether fluctuates a lot.
You may also research the various platforms to acquaint yourself with them and help you pick which to use.
Create Digital Wallet
To buy Ether or ETH, you’ll need to construct a “digital wallet.” This will be connected to the NFT platform of your choosing and utilized in your transactions.
Binance wallet and MetaMask, which is available as a browser and an app, are two of the most popular digital wallets. These are regarded as one of the greatest NFT wallets for collectors and makers by users. You may also use your PC to install an extension.
You must first download the program and agree to the seed phrase in order to establish a digital wallet. A seed phrase is a collection of 12 to 24 phrases that unlocks your digital wallet.
If you already have money in your digital wallet, such as ETH, you may do so by using Apple Pay or a debit card. This ETH will be used to purchase NFTs and/or trade them.
After that, you may join up with your favorite NFT platform and link your digital wallet to it.
While the restrictions may differ slightly between platforms, you may usually link your wallet within the app or by adding a digital wallet extension to your browser.
Add Your Animated Digital Art To Your Wallet
Tokenize your animation video by uploading your NFT to the platform. Depending on the NFT platform, there may be additional prerequisites for uploading or producing an NFT.
However, on most sites, such as Rarible, you can simply submit your animated films as TXT, PNG, GIF, WEBP, MP4, or MP3 files with a maximum file size of 30MB. Keep in mind that minting your NFT needs you to pay a charge, as stated earlier.
After you’ve uploaded your NFT, enter your pricing and any further information, such as the title of your animated video, as well as the percentage of royalties you’d like to earn for future resales of your artwork. Rarible also asks if you want your work to be a part of a series or a one-of-a-kind piece.
Start Promoting Your NFT Animated Video
Anyone can place a bid on your NFT once it has been placed on a marketplace. Nothing is left to do but promote your work and wait for the ETH to arrive in your bank account. There are a variety of methods available to you for promoting your NFT. For the most part, you may market your listing in Discord groups, online communities dedicated to specific NFT platforms or crypto communities, or even on your personal social media profiles.
Advantages Of NFT Animated Videos
With a unique code connected to your crypto art, you may not only verify its ownership, but also protect the authenticity of your animated movies by assigning them a different value that distinguishes them from others despite price or material similarities.
This isn’t to say that your animated videos won’t be copied. While anybody may copy and republish your animated videos if they have the necessary equipment and expertise, such replicas will not have the same value as the original.
When completing any transaction, the unique code allocated to your crypto art makes them exceptional and one-of-a-kind.
Royalties should be a standard practice for both the owners of animated videos and the people who buy and utilize their services. By allowing the buyer to utilize the animated film and paying the owner a fair percentage of future sales, it benefits both parties.
Unfortunately, because of the difficulty of tracking future sales, many individual animators and small animation firms are unable to maintain such arrangements.
However, royalty agreements for your crypto art may be simply made using NFTs and the smart contracts that come with them. When a transaction occurs, they are immediately executed, offering both parties the privileges they deserve.
For animators and social media sites, the world of cryptocurrency provides a decentralized marketplace outside of traditional markets.
In a competitive market, this new stage of exhibiting and advertising your animated video series will allow you to earn more safely and conveniently. If your animated videos are advertised traditionally, some animation clients will most likely not pay as much for them.
Disadvantages Of NFT Animated Videos
High Gas Fees
Gas costs are transactional fees that must be paid in real time. Almost every transaction on the Ethereum blockchain, whether it’s delivering tokens or engaging with a contract, necessitates the use of gas. The gas fees cover the cost of the computing power required to complete such transactions. While this isn’t inherently a disadvantage in crypto art, it may put a burden on your wallet, especially if the costs rise abruptly.
Increase Carbon Footprint
The impact of NFTs and crypto art on the environment, notably their high energy usage and carbon footprint, is perhaps the most well-known disadvantage.
The Ethereum blockchain, which houses NFTs, is regarded as antiquated and unable to adapt to the platform’s growing needs. Ether mining consumes around 44.94 terawatt-hours of electrical energy per year, resulting in about 21.35 metric tons of CO2 emissions every year.
While most, if not all, animation studio owners and salespeople are computer literate, getting started with cryptocurrencies might be a bit perplexing at first. You should educate yourself with the crypto industry from a technological aspect before selling your animated videos.
Because of its democratic and uncontrolled character, predators and those wanting to take advantage of inexperienced traders might thrive. There are relatively few individuals you can turn to if you become a victim.
Why You Should Make NFT Animated Videos
The main advantage is that your animated videos will have a distinct value, and you will be able to reach a new audience of art and animation customers, as well as receive a thorough royalty agreement for your animated videos. Remember that while investing in new technology such as crypto assets requires time and work, there are several new opportunities that come with it. It is your obligation as the owner of an animation studio to invest in new strategies to attract new audiences and build your animation business.
While NFT animated videos are relatively new they took the entire world by a storm along with various cryptocurrencies and digital assets. Because they are something new, it might be hard to navigate the space and poses some risk for your strategy but there are potentially enormous profits to be made if you know what you are doing. Hopefully our guide brings you closer to creating and minting NFT animated videos and helps you understand how this NFT world can make you enough profits as an animator and artist if your looking for advice on nft animated production services simply click on the link.
Article by Nicole Delgado 2022 | Marketing Manager | The Explainer Video Company | Animated Explainer Video Production For Business