August 2022: NFT’s by/from the entertainment industry

Our goal as agents is to assist in the creation of ethical NFT’s for singers, musicians, entertainers, comedians, artists, digital artists, painters & self publishing authors. 

Currently we are on search mode in order to create incomes for our artists and valuable collectibles for investors

Cryptocurrencies, Bitcoin and Smart Contracts – well, as we see it – the early adopters and cowboys have had there play, now it’s sorting itself out  – we are onto it, making the path safe for all to walk. (for creators and buyers) 

Please contact us anytime for a chat, to create your first NFT. 

 

What’s on your NFT wish list?

Love buying NFT’s as a collector or investor?  So…what’s on your NFT wish list?

We can help, let us know what category (and Who’s)  NFT you are interested in; digital art, art, musicians songs, musicians collectibles – signed album covers, signed posters, sound bites and never before seen or released videos, performers, comedian’s audio and videos as collectors items.

You know what you want, share that list with us and we will contact the entertainers/performers and move forward to supply collectible, totally valuable NFT’s just for you.

As agents, we represent the artists and ensure the companies selected can & will mint NFT’s with all the bells and whistles you expect.

Call Irene Briggs now… +61 41 999 4095 –  and yeah, we are global.

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NB. Data/definitions below have been taken from the web via Google searchers. 
We can’t vouch (or be held responsible) if the info below is not 100% legally correct. 

The Glossary and definitions in simple language

Q. What is Blockchain?
A. Blockchain is database.

  • They are ‘append only’ you can only add information, can’t delete information and can’t change it i
  • Each entry (called a block) is cryptographically linked to the last entry
  • Each new entry must contain a sort of digital fingerprint – of the last one.
  • That fingerprint points back to the previous one. Thus, called a blockchain.
  • It’s ‘immutable’ = if you change a block it changes that fingerprint, then you have changed in the next fingerprint in the next block
  • It is a domino effect where any change becomes evident. Everyone can notice any and all changes
  • And deeper down comes…DYOR – do your own research applies
  • Consensus Algorithms and cryptocurrency. 
  • public-key cryptography 
  • PoW proof of work
  • PoS proof of stake 
  • PoA proof of authority
  • PoB proof of burn

Trading?    Trading generally implies a shorter-term approach to generating profit. Traders may jump in and out of positions all the time

Investing?  Google ‘Buy Crypto’ and follow instructions. Onboarding process should be quick and smooth, no need to jump in and spend large amounts of money, start as small as $15. 

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NFT:  Non-Fungible Token. A unique ‘token’ – (URL) Stands for Non-Fungible Token. It’s a unique, one-of-a-kind crypto asset (which can be anything from art to music) that’s stored on a blockchain. Tokens: another word for digital assets

Block chain: an open spreadsheet it records any changes or transactions. It’s where users can verify ownership.

Bridge: A connection that allows the transfer of tokens from one chain to another for a fee

Creator: Making Money Selling NFTs
At the current time, content creators and investors can make money selling NFTs. The content creator can make money on the sale of the NFT, as well as royalties on subsequent sales. NFT investors can buy NFTs and resell them for a profit.

Cost:  How much money does it cost to mint an NFT?  The first fee you’ll pay as a first-time creator is used to initialize your account. As of April 2022, this fee typically costs $70 to $300. The second fee used to grant access to your account costs $10 to $30.

How much does it cost to mint 10000 NFT?
The cost to mint one NFT can range from about $1 to over $1,000. The cost of minting 10 000 NFTs could be as low as $5000 to as high as $1 million, depending on the blockchain. The costs to mint a single NFT can vary from $1 to over $1,000, so it’s important to understand how much a particular blockchain costs.

Crypto currency: Type of digital currency (e.g. Bitcoin, Ethereum etc) that uses cryptography to secure financial transactions and control the origination of new coins.

Ethereum: (eetheerium) The name of a particular cryptocurrency, also known as ETH, that supports dApps, smart contracts and is typically used in NFT transactions

Eth – short for Ethereum:  the currency used to buy and then to sell and convert into real USD. (aka Fiat currency). You get paid. 

Fiat money: The majority of modern paper-based currencies, such as the US dollar, are classed as ‘fiat currencies’. It’s one of several currency types – others include commodity-backed money and representative money. 

Investors in cryptocurrency often use the term ‘fiat’, from the Latin “it shall be”. Cryptocurrency proponents believe the true value of digital assets like bitcoin (BTC) is that they eradicate many of the disadvantages faced by fiat currencies.

Fungibility: Replaceability. The ability of a good or asset to be traded with other individual goods or assets of the same type. On the contrary, something that is non-fungible, like a piece of art, is one-of-a-kind.

Gas: in simple terms the fees to create, buy and sell NFT’s. ‘Gas’ is the amount (in native cryptocurrency) required by the network for a user to perform cryptocurrency transactions on the blockchain. For example, you’ll need to pay gas in ETH when you interact with the Ethereum network.

NFT Fees: As defined in a NFT dictionary, gas fees are the payments individuals make to complete a transaction on a blockchain. These fees are used to compensate blockchain miners for the computing power they have to use to verify blockchain transactions. They are typically paid in the blockchain’s native cryptocurrency.

Metadata: The metadata of an NFT is the necessary and unique data that make up the NFT and defines how it looks.

Miner: Someone who mines tokens on a blockchain network with their GPU. (GPU Short for graphics processing unit. GPU is the processor that’s needed to mine certain types of cryptocurrencies, such as Ethereum.

Pre-mine: The act of creating a set amount of tokens before their public launch

Minting: The creation process of an NFT.  (Lazy Minting:  is when an NFT is available off-chain and only gets minted once a sale takes place. This means that the artist does not have to pay any upfront gas fees to mint their NFTs, essentially paying the fees only once the token is purchased.

Lazy Minting is a process in which the creator does not have to pay the gas fee for minting the NFT upfront, and they can list it on marketplaces for sale.

Whenever a buyer buys the NFT, it is minted just in time, and the minting cost is added to the total cost of the NFT 

Off-Chain metadata: Metadata that is stored outside the blockchain

On-Chain metadata: Metadata that is directly incorporated in a smart contract

Polygon: A secondary scaling solution on the Ethereum blockchain that provides cheaper, faster and more secure payment transactions

Rarities: Digital collectables and in-game NFTs typically come with different rarities (such as common, uncommon, rare, legendary and mystic) and get assigned with a certain edition number (e.g. #001/100). They’ll each have unique IDs and metadata.

Royalties: Money earned by an NFT creator through the token’s resale. Some NFTs automatically pay these commission each time an NFT is traded. An NFT can also be hardcoded to pay an artist royalties forever, which is a desirable use case that has the potential to reshape the music industry

Secondary Market: Also called the aftermarket, a secondary market is the financial market where investors trade their assets with other investors rather than from issuing companies themselves. For NFTs, they can be sold or purchased on the secondary market after minting. Examples of popular secondary markets are OpenSea and TofuNFT.

Sharding: Sharding in the context of NFTs refers to the practice of splitting NFTs into smaller subsets, generally for the purpose of allowing groups of individuals to purchase an expensive NFT so that it can be owned collectively

Shilling: When someone promotes an NFT project and encourages others to invest in a specific NFT as a marketing strategy.

Smart Contract: An agreement that automatically executes when predetermined conditions are met. They’re enforced on the blockchain network, irreversible, and not subject to change. A smart contract can be defined as a computerised transaction protocol which automatically executes the terms of a contract when certain conditions are met.

Stored within a blockchain such as Ethereum, smart contracts allow for the contract to be executed without the need for intermediaries or human intervention, minimising fraud losses, arbitration and enforcement costs, and malicious and accidental exceptions.

  • Fully automated. Contracts are executed automatically once the conditions are met, with no need for human intervention

  • Fast. Transactions can be settled faster than normal contracts due to the lack of intermediaries

  • Trustless. A trustless system allows a contract to be fulfilled with no need for trust between the engaging parties. As smart contracts automatically execute once the conditions are met, participants can remain anonymous and still be sure that the contract will be fulfilled

  • Transparent. The advantage of blockchain technology is that anyone can view the information on the network

  • Terms of the contract cannot be altered once it is created

Verified Contract: A publicly available contract that allows users to read, study and audit the code. Verified contracts are prevalent on transactions where parties require a higher level of trust, preferably verifiable by another third party.

Solidity: An object-oriented, high-level programming language for implementing smart contracts

Szn: Stands for ‘season’ referring to crypto or NFT market cycles

Wallet: A digital wallet that allows users to store and manage their crypto assets. E.G one buy ‘Eths, (currency) to store in your wallet to purchase NFTs. Creators wallets store their income (from sales) currency in – to convert to Fiat currency (real dollars). Then transfer into their banks accounts. An ‘exchange’ currency converter company has to be used. And yes, more fees. 

Ethereum wallets are applications that let you interact with your Ethereum account. Think of it like an internet banking app – without the bank. Your wallet lets you read your balance, send transactions and connect to applications. You need a wallet to send funds and manage your ETH.

Web 3 : An idea/vision for a new iteration of the web based on a decentralized online ecosystem powered by blockchain technology. Web3 has become a catch-all term for the vision of a new, better internet. At its core, Web3 uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership.

Ownership:  Web3 gives you ownership of your digital assets in an unprecedented way. For example, say you’re playing a web2 game. If you purchase an in-game item, it is tied directly to your account. If the game creators delete your account, you will lose these items. Or, if you stop playing the game, you lose the value you invested into your in-game items. Web3 allows for direct ownership through non-fungible tokens (NFTs). No one, not even the game’s creators, has the power to take away your ownership. And, if you stop playing, you can sell or trade your in-game items on open markets and recoup their value.

Whitelist: WL – Often abbreviate as “WL”, a whitelist is a special list that gains early access to an NFT drop before the general public

White paper: An officially released document by a crypto project team that offers investors with detailed technical information about its concept and roadmap.

Hope this helped, and its…GN / goodnight for now.