Home » Economy » How easy it is to get an NFT token and why it can be dangerous :: RBC.Crypto February 14, 2022
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Feb 14, 8:02 pm
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How to issue your own non-fungible token for free and why you should not accept NFT from unknown users
Last month, non-fungible token (NFT) trading volume exceeded a record $6.86 billion. The figure increased by 157% compared to December 2021. The popularity of NFT technology has grown so much that the use of non-fungible tokens thought on YouTube. Video hosting can implement NFT support on their content monetization platform.
There are several ways to get NFT tokens.
Create your token
One of the main ways to get NFTs is to create your own token on the largest OpenSea marketplace. To do this, you need to have a cryptocurrency wallet, for example, MetaMask, as well as an image, video, audio, or any other file that needs to be wrapped in NFT. This also works for plain text.
When creating an NFT on OpenSea, it is important to choose the network on which the token will be issued. When choosing the Polygon network, the marketplace will cover all costs. This means that you can create an NFT, sell it or send it to another user for free, without paying commissions. When issuing NFTs on the Ethereum network, you will have to pay a commission for each transaction yourself.
Due to the ability to create NFTs for free, more than 80% of tokens on the OpenSea marketplace are plagiarism and spam. Wired. According to the publication, the trading platform does not plan to restrict users in any way and introduce moderation of new NFTs, as this is contrary to the company’s policy. For the same reason, NFT marketplace Cent suspended bargaining.
Buy token
New tokens regularly appear on NFT marketplaces. With their help, they sell not only digital art objects, but also game items, financial instruments, real estate, domain names and other goods. When buying an NFT token, you also need to have a cryptocurrency wallet. It will be required to pay for the purchase, as well as to store the token itself.
Photo: OpenSea
NFT creators can come up with different interaction mechanics for their tokens. For example, at the beginning of February ended games at the NFT-arena СhainFaces Arena, which lasted for a month.
The winner of the NFT arena received $160,000 in Ethereum. In total, 18,000 NFTs were sent to the arena. After the start of the battle, about every 15 minutes, some of the digital works “died” – these NFTs burned down irretrievably. The surviving “emoticons” became more valuable due to the “scars” appearing on their image. Also, each user at any time could pick up his fighter from the arena along with the bonus, its size increased as the number of participants decreased.
Not only content
Caution should be exercised when interacting with NFTs, as hackers have already begun use technology for spreading viruses and malware. According to ESET, gamers are increasingly being offered NFT tokens with superpowers or weapons embedded with a virus, and tools for clandestine cryptocurrency mining are sewn into mobile applications. ESET calculated that in 2021 Russia accounted for 11.2% of those affected by cryptocurrency threats, the country remained the leader in this indicator.
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author
Alexey Korneev
