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NFT stands for Non Fungible Tokens. They are cryptographic assets, evolving all over the world to buy, sell and trade digital assets.

NFTs form the part of Smart Blockchain which can be bought and sold online. Unlike physical money and other cryptocurrencies, which are fungible and can be exchanged for one another, NFTs are built with unique identification codes making them not mutually interchangeable. Non-fungible means, they are unique tokens that can’t be replaced with something else. No two NFTs can be the same which ensures that digital assets owned by the individual are authentic. While you buy, sell, or give away NFTs, the nodes of computer networks verify the unique data.

Currently, NFTs are getting popular to buy and sell digital assets such as art, music, poetry, videos, in-game items, at large. This means one can own digital files. Although these digital assets can be available to anyone all over the internet and can be downloaded easily, NFTs provide the ownership of digital art by permanently securing the information on it.

The risk involved with NFTs, like any other cryptocurrency, is whether items keep up their price. As the value of NFTs changes based on what people are willing to pay, no one can predict when the value of any NFT goes up or when people stop wanting to have it.

However, NFTs provide a gateway to collecting fine digital artwork.

For buying a particular item in the physical world, you have to go out to the market where you can find shops, sellers, and products. At the same time, to buy, you need to have your wallet, money and you have to reach the market.

In NFT trading as well, the NFT marketplace has the same role.

NFT marketplace provides a platform for collectors and creators to mint, buy, sell, and trade Non-fungible tokens. These platforms empower artists or digital creators to take their digital assets onto the platform and secure it as a token on a blockchain in the form of NFTs. Artists can price their work on their own and sell it with great ease. At the same time, they also allow interested people to buy these digital assets.

It is only on the NFT marketplace, where you can easily:

• Mint an NFT
• List an NFT
• Buy an NFT
• Sell an NFT

But, there are a few prerequisites to access NFT marketplaces. These are:

• Compatible Crypto wallet
• Funds in Crypto wallet
• Connecting your wallet to the marketplace

RamziNFT is such a platform that provides an opportunity for digital creators to showcase and sell their artworks to people all over the world. On this platform, artists and collectors can connect their wallets, comply with other requirements and start buying or selling digital assets.

RamziNFT supports one of the most popular blockchains for NFTs, which is Polygon. For now, RamziNFT only works on Polygon but we are also working to turn RamziNFT into a multi-blockchain platform supporting various popular EVM compatible NFT blockchains. Also, Ethereum (WETH) and Tether (USDT) currencies can be used on Polygon network to buy and sell tokens.

Currently, the transaction fee is 2.5% of the NFT price, which is deducted from the seller. that both the buyer and the seller must pay the transaction fee in the network to confirm the transaction on the blockchain network, which is allocated to the miners of the network.

The increasing popularity of cryptocurrencies and NFTs is also attracting hackers and interveners to meddle with the security of user’s assets. Therefore, to secure your hard-earned money invested in NFTs, here are a few things to keep in mind:

• Use the right crypto wallet
  • The keys of wallets can be stored in two kinds of wallets: Hardware wallets and Software wallets. Where software wallets are more like applications or software systems that store your private keys, hardware wallets provide an extra layer over software wallets. It helps you store your private key in a secure physical device, just like a warehouse of your keys. They are protected by microcontrollers from which unnecessary data can not be transferred making them highly secure. However, you still need to make sure you follow the best security practices of keeping your hardware wallet safe.
• Never Give your Seed Phrases to anyone
  • The security of Seed Phrase is crucial to guard your crypto wallets. In no case, you should share this with anyone. You ideally should keep them offline and secure. Anyone with access to the Seed Phase can have access to your wallet and associated keys as well as assets. Besides, the private key and wallet password should also be kept private only to yourself.
• Research is the key
  • NFTs is a new market and no one knows about the uncertainty. Therefore, before indulging in trading, you must have a basic knowledge and understanding of the NFTs, platforms, wallets, and other related aspects. Moreover, the transactions once done are irreversible, therefore, before hitting the transaction, you should research the seller, authenticity of art, etc.

There are several benefits of buying NFTs. Here, we would like to list a few:

• Ownership: NFTs allow you to get provable ownership of the digital items. Years back, it was impossible to own something digital without a middle man and people couldn’t claim their creation. NFT is a revolution that allows people to own digital assets. Like any physical art, you can have art under your name on the blockchain.
• Copyright: In the digital world, it was difficult to secure someone’s creation. Creator’s; hard work was lost and thousands of people used to claim the same thing. However, with NFTs, artists can secure their art as NFT and retain the copyright of their creations.
• Transferability: One of the great advantages of NFTs is transferability. Though NFTs are not mutually interchangeable, they are free to be traded and transferred from one to another. This is the benefit with which artists sell their art to interested people at their price.
• Decentralized marketplace: NFTs are backed by blockchain which is a decentralized network. This means, you don’t have to trust any mediator, who keeps all the information, for buying or selling NFTs. Every member has the same data as anyone else through distributed ledger technologies.
• Economic Opportunity and Growth: NFT is the face of a new creative economy. It provides the economic opportunity to the creators all over the world to share their work and get adequate payment out of it. The sale and purchase of art, music and other creations on the blockchain has seen millions of dollars flowing. This is the cause and effect of more and more people entering and buying NFTs.

The process of securing the digital asset as NFT and making it a part of the blockchain is called minting NFTs. On RamziNFT, minting an NFT is completely trouble-free. However, not everyone can mint NFTs on RamziNFT. You need to be a verified artist on the platform and have a compatible wallet, only then you can successfully mint NFTs. Approved artists can mint their artworks free of charge. For this, you have to follow these couple of steps:

• Connect your wallet: First, you have to connect your wallet with RamziNFT
• Uploading file: second, you have to upload your digital creation on the platform. in the following formats: • Photos (jpeg,jpg,png,gif,tiff,tif,webp,bmp) The size of any of these files should not be more than 10MB.
• Filling required data fields: The uploading of files or your digital creation will be followed by the fulfilment of certain data fields. Creators will be asked to fill the following data fields:
  • Artwork Title
  • Artwork Description
  • Custom Properties
  • Category
  • Explicit Content (Yes or No)

You should assure the information you provide is accurate as once you create an NFT, it goes into the blockchain and becomes impossible to make any changes. Once you have fulfilled these requirements you can confirm the creation of your NFT by signing it with your private key using your digital wallet and pay the transaction fee. Your wallet will do this automatically and you just need to confirm the action. Once confirmed, your NFT is Minted and ready to be listed for sale on theRamziNFT platform.

Pricing artwork requires research about the market and also trust in your creation. You must be sure of yourself that what you have produced is worthy of being sold for the right amount. However, here are a few strategies you can use while pricing your work:

• Competitive: While pricing your work, you should research what is going on in the market. Though all art pieces are unique in their own way, you need to see the prices of other similar kinds or styles of artworks as yours. This would help you in pricing your work neither less nor more.
• Rarity: The price of art also differs based on the number of editions it has. It is evident that the price of art with 10 editions will be lower than the art with 1:1 collectable. This is due to the rarity of the artwork.
• Emerging or Established: You should be knowing that there is a different fanbase of already established artists in the NFT world and they price accordingly. If an emerging artist would try to price their work the same, they might not be able to sell. You should always consider this if you are an emerging artist and price accordingly until you build your reputation.
• Grow consistently: Like any other market, when you are entering the market, you first try to establish a customer or audience for yourself rather than selling your products at a higher price. Here as well, you must start with a lower price and grow gradually and consistently.

With these strategies in mind, you can price your work well.