NFTS ARE JUST LIKE PRINT ON DEMAND????

Have you ever heard of NFTs (Non-Fungible Tokens) and wondered what all the buzz is about? If you’re familiar with the world of print on demand, you might be surprised to learn that there are some striking similarities between the two. Both NFTs and print on demand offer a way for artists and creators to monetize their work in a digital format. While NFTs are often associated with art and digital collectibles, print on demand allows artists to sell their work on a variety of products like t-shirts, mugs, and stickers. Keep reading to learn more about how NFTs are just like print on demand and how they can benefit artists and creators.

The Confusion

Hey guys i want to talk about something today that i’ve never talked about on this channel and that is nfts i know that nfts are a hot topic but that’s actually not the reason i’m talking about them the reason i’m talking about them is because i am finally planning on getting involved.

Learning More About NFTs

With nfts number one because the business i work for wants me to learn more about nfts and second of all because i found something really really special that i didn’t know before about open c so a lot of the confusion for me from nfts came from this following problem here.

Lazy Minting

So when i first started learning about nfts i found that people had collections of nfts which makes perfect sense it’s like a branding thing so let’s say you have 10 nfts and the at the current price of ethereum which if we just have a quick look is 3 000.

Gas Fees and Minting

And i know that the gas fee price is about 10 of that so the gas feed price today probably would be about 300 maybe a little bit less maybe like 250 it might be like eight percent or something so this here would from my logic from what i understood of nfts you would have to pay it for each nft okay so if you have 10 nfts you have to pay up front at least 2 500 to mint which is the process of adding an nft to the blockchain you would have to pay 2500 to mint 10 nfts so that’s why i thought that it was influencers who mainly were seeing success or whatever from their fans doing nfts because they already have the money to mint a large collection of nfts but i realized that you only have to pay the gas fee once which is about 250 to join openc not to join sorry to connect your wallet to open c but then after that they actually have something called lazy minting so what is lazy minting can i list an item without paying to mint it the new openc collection manager allows creators to make nfts without any upfront gas cost as the nft isn’t transferred onto the blockchain until the first purchase or transfer is made nfts made with collection manager follow standards partly to help with gas free minting and party to help us add exciting features in the near future please note if this is your first listing on openc you will need to pay gas fees associated with initializing your account so like i said before you only have to pay the gas fee once and then every time you sell an nft if you put the price as something like 0.3 f which is.

Selling NFTs and Potential Profits

Oh god my math is terrible okay so it’s about 900 okay so obviously there’s there’s other things associated with this like who’s actually going to buy your nft et cetera et cetera but that’s something i’m going to try and help discover with you guys if you guys are interested in in that. My idea is not to sell nfts to anyone that i know or any of my fans or anything like that my idea is to just sell nfts on openc i probably won’t even make my openc account public unless it’s relevant to how to kind of start your account or whatever it might be but once you sell it for 900 they will then take the gas fee from this so let’s say that’s 250 and you’re left with oh my god maths 650 profit okay now obviously you have to work out like i said before how to actually sell the nfts so let’s get into this process together if you guys are interested please let me know in some way or tell me not to make videos on this but i’m definitively going to be getting involved with this because i already have some cryptocurrency and i’m just really into it and like i said before my boss wants me to learn more about it so i’m probably gonna try and make an nft collection with my friend and i will show you guys the process of finding ideas for example you can actually use a search operator on openc and you can put the past 24 hours and as you can see you.

Collaboration and Dedication

Can see kind of what’s being designed these are all profiles which is not very useful to me honestly i don’t really want to see profiles but you get the idea i’ll definitely have a look this is apparently garyvee’s profile really it’s actually garyvee that’s so funny so he owns all of these nft wow he’s got one two three four five six seven eight twelve thirteen he’s got loads of board apes holy crap wow what a genius honestly like he’s gonna make so much money from that that’s insane so yeah i’m gonna i’m gonna work with my friend who is a designer um. You could say he was a professional designer he’s not really paid for doing much designing but he’s definitely got the level of professional design i did mention in previous videos his name’s ollie and i think we’re going to work on an nft collection together i’ll probably. Pay the gas fee as my contribution and also list them on openc which i will show you guys the process of hope you guys enjoyed this video i hope you guys are excited to learn a little bit more about nfts but i think the really interesting thing. Is that openc and redbubble are pretty much the same and yeah nfts are just print on demand and you can also you don’t just have to sell these you can also sell domain names so this is something i’m very curious about whether we can just buy some domain names and flip them effectively one idea for this is to look for local businesses in your area that have a website and then buy their domain name dot f for example and then you can then sell it to them in the future when they want to buy it so yeah just a couple of.

Opportunities and Final Thoughts

Things to think about guys uh before it gets to the point where it’s just completely over the rush is done and you know there’s no money to be made i thought i’d just make a video about some potential ways that we could make some money using openc let me know if you’re interested in some more videos and as usual thanks for watching and peace out .

Is buying NFTs just like buying print on demand?

Not exactly. While both involve digital assets, NFTs (non-fungible tokens) are unique and can represent ownership of digital or physical goods, whereas print on demand typically refers to the creation of custom printed products on demand.

NFTs are usually sold as one-of-a-kind digital art or collectibles, and their ownership is recorded on a blockchain. On the other hand, print on demand allows customers to order custom printed items, such as t-shirts or mugs, with a design of their choice.

Ultimately, NFTs and print on demand are distinct concepts with different purposes and functionalities.

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