The NFT Handbook is a detailed guide on how to create, sell and buy non-fungible tokens without the need for a technical background. Learn exactly what NFTs are, how they evolved, and why they have value.
We’ll delve into the different types and aspects of NFTs and discuss the different NFT marketplaces and the pros and cons of each.
- Create Your Own NFTs: Step by step instructions on all aspects of NFT creation, including what types of content to use, where to source content, adding artistic design, writing the NFT’s description, adding optional unlockable content and setting an optional ongoing royalty.
- Mint Your NFTs: You’ll learn the process of how to get your NFTs on the blockchain.
- Sell Your NFTs: We’ll go through the whole process including creating a collection, and the different options such as setting a price or starting an auction.
- Buy NFTs: What you’ll need to bid on and purchase NFTs, and how to avoid getting scammed.
- You’ll also get a primer on blockchain, particularly the Ethereum cryptocurrency and “gas” fees. You’ll also be shown step by step how to create, secure and fund your own cryptocurrency wallet, where you’ll store your NFTs and cryptocurrency.
Table of Contents
About the Authors vii
About the Technical Editor ix
Acknowledgments x
Foreword xvii
Chapter 1 Introduction to NFTs 1
Chapter 2 What Are NFTs? 7
Why People Collect 7
What Exactly Are NFTs? 10
Types of NFTs 16
Aspects of NFTs 32
Extrinsic Elements of NFTs 44
Chapter 3 Why NFTs Have Value 49
Why Do Collectibles Have Value? 50
The Problems with Traditional Art 53
The Problems with Collectibles and Memorabilia 57
Digital Art Before NFTs 60
The True Advantage of NFTs 61
NFTs Aren’t Perfect 74
External Forces That Drive Value 89
Chapter 4 History of NFTs 93
Andy Warhol Presents Pop Art 94
Beeple’s Cyberpunk World Meets NFTs 99
The Story of Digital Art 104
Chapter 5 NFT Marketplaces 115
OpenSea 116
Rarible 117
Nifty Gateway 118
SuperRare 118
Wax (Atomic Hub) 119
Foundation 120
NBA Top Shot 121
VeVe 122
Known Origin 122
Myth Market 123
Wrap-Up 124
Chapter 6 Creating and Minting NFTs 125
Creating the Aspects of Your NFT 126
Creating a Cryptocurrency Wallet 134
Creating an OpenSea Account 144
Creating a Collection 147
Minting an NFT 157
Chapter 7 Selling NFTs 161
Your Exchange Account 161
Buying Cryptocurrency 167
Funding Your MetaMask Wallet 170
Selling Your NFTs 172
Marketing Your NFTs 181
Chapter 8 Buying NFTs 195
Why Buy NFTs? 195
Buying NFTs 199
Building an NFT Collection 206
Chapter 9 Legal Aspects of NFTs 213
Are NFTs Securities? 214
Intellectual Property Rights 218
Right of Publicity 225
Right of Privacy 231
Contracts 232
Taxes 235
Chapter 10 The Future of NFTs 239
The Metaverse 240
Non-bankable Assets 246
Digital Wallets 251
The Unwritten Future of NFTs 254
Index 255
