Blog | Create an NFT with api.video, Ethereum, MintGate, and Metamask (without breaking the bank)
NFTs (non-fungible tokens) are super popular these days. You’ve no doubt heard that people sell NFTs for their art, be it music, painting, writing, drawings, videos and more. Some artists use NFTs to sell special tickets to their concerts and sometimes video games even sell in-game items using NFTs. But what, you might ask, are they selling that requires the NFT? Well, non-fungible means unique token, and the idea is that it’s something that can’t be copied. So an NFT is like a digital certificate that shows that you own a particular asset or piece of digital art.
So if it’s not something that can be copied, how come there’s copies of files sold as part of NFTs? The idea is that when you buy the NFT you get the original work, or you get one of a limited batch that are certified by using an NFT. If it’s something widely available — like an internet meme, then the NFT is there to show ownership even if there are copies of that file available online elsewhere. Sometimes the NFT includes special rights, like only you can use the asset as part of an avatar. For example if you bought a digital drawing as an NFT, it might be that only you can set it as your profile picture, or something similar. Also, because the NFT is a unique token that is part of the blockchain for a cryptocurrency, its entire ownership history can be tracked.
A couple of common misconceptions about NFTs are that they are expensive, and that you need to use Ethereum to create them. In terms of price point, there are two popular ways of viewing NFTs. One is NFTs as expensive fine art but in the digital space. The very wealthy will collect these, they’re often one-of-a-kind and that’s that. The other way is the NFT as a trading card. There might be multiple copies of it in a batch, similar to a trading card, but the number of “cards” is limited. This type of NFT is often more affordable. As for requiring Ethereum to create an NFT, this is just one of the most popular cryptocurrencies to make them with. You can add NFTs to many kinds of cryptocurrency other than Ethereum.
There are several cool things about NFTs — you can buy them to support an artist or a project or cause you care about. You can buy them and join groups where being part of the group…