(NFTChronicle.com) – It would almost be easier to list the similarities between NFTs and stocks than the differences because they really only have one: you can buy and sell them both. Other than that, nothing about the two is the same. However, there are a few important pieces of information on the long list of ways they differ. 

First and foremost, stocks are digital certificates of ownership of a company. They are liquid assets traded on regulated markets using dollars and cents. Alternatively, an NFT is a cryptocurrency-based unique token denoting ownership of a file on the internet as an unchangeable smart contract stored on a decentralized blockchain.

Today's post. I am not sure why I did it but I just like both NFTs and Stocks 😄https://t.co/BnVLC9QEgK#NFTs #NFT #stockmarkets #ValueInvesting pic.twitter.com/x0YrKXMrhV

— Marshoush (@Marshoush90) March 20, 2022

Second, a company issues a stock acting as its executor and can award, sell, or transfer it to another entity. That is its sole purpose. Anyone can create an NFT and store virtually anything, from images to music to videos to real estate contracts. The decentralized transparency of the blockchain makes trading more secure, but the lack of regulation opens the door for some forms of fraud, particularly counterfeiting.

Lastly, buying, selling, and trading stocks are heavily regulated activities. Even a private corporation transferring common shares to its own employees will encounter red tape while complying with the plethora of local, state, and federal laws. NFTs have little to no regulation other than that imposed by the blockchain community. Government entities are out of the loop because blockchain users employ consensus methods to validate every transaction on the chain. 

So what’s the main similarity between the two? If you earn income from either, the IRS will want its share.

Copyright 2022, NFTChronicle.com/

(NFTChronicle.com) – A pair of engineering students used an exclusive invitation to a tech forum to pull off something completely unexpected. Dispensing with tradition and heading off on their own, the brainiacs and two of their friends managed to put an NFT into space.

The event, called “Miami Hack,” is an invite-only convention of techies where some of the brightest minds compete for prizes. Traditionally, participants divide into “houses,” competing in group competitions. The students, Nicholas Tindle and Peyton Thibodeaux from the University of North Texas, and two friends, Ian Perez and Ben Linville, decided to break with the norm and enter their own project, which is unusual but not against the rules.

Congrats to the winners of Miami Hack Week 2022, Cosmic NFT 🎈

This @HardTechMiami team used a weather balloon to mint an NFT in space! pic.twitter.com/b3gZ5T6yIq

— Miami Hack Week (@MiamiHackWeek) January 28, 2022

The quartet put a weather balloon into the stratosphere and connected to a satellite during its travels. The team used the data stream to create an image, becoming the first non-fungible token in space. The four engineers launched the weather balloon from a boat to abide by FAA regulations, and the device reportedly reached altitudes higher than airplanes fly in under four minutes and kept going. 

As soon as word of the experiment reached the convention floor, the project skyrocketed into the top five finalists, ultimately taking first place and the grand prize. The team split a $10,000 cash award plus a bonus of four free tickets on Delta Airlines. 

They accomplished the feat before knowing how much the NFT, now a permanent part of a blockchain and aerospace history, might be worth on the open market.

Copyright 2022, NFTChronicle.com/

(NFTChronicle.com) – Most people diving head-first into the world of collectible NFTs typically have the same first question: what’s the difference between an NFT and cryptocurrency? Bitcoin, Ethereum, Dogecoin, and other names people hear about can sound confusing. Now, there’s also this thing called an NFT? Luckily, understanding the differences between the two is simple.

It helps to have a foundation to understand most things, and blockchains are the foundation of both cryptocurrencies and NFTs. Blockchains are what make the entire crypto world spin. The chain is nothing but a transparent, decentralized, immutable record of transactions. When people create, sell, trade, destroy, or combine cryptocurrencies or NFTs in the form of digital tokens, an unchangeable record goes into a block of data visible to anyone with internet access. When the block is full, it adds to the chain. 

NFTs VS Cryptocurrencies: What is the Difference between the Two?https://t.co/6vLhPGoSt3#cryptocurrencies #NFTs #blockchain #nonfungibletokens #cryptocurrency #crypto #NFTsVsCryptocurrencies #AINews #AnalyticsInsight #AnalyticsInsightMagazine pic.twitter.com/lYMwDmEIKw

— Analytics Insight (@analyticsinme) February 23, 2022

The tokens themselves differentiate cryptocurrency from NFTs. A cryptocurrency token, like a single Bitcoin, is a fungible asset. Like tangible currency, you can trade one Bitcoin for another, and it will be worth the same amount. Much like a dollar bill, it makes no difference how or where you got it, it’s worth what a dollar is worth and nothing more. 

An NFT is a non-fungible token, meaning each is unique. NFTs store files, not currency, along with smart contracts denoting who made it, who owns it, how the owner can use it, and any other parameter the token’s creator sets.

While NFTs and cryptocurrencies are different, they’re also inherently connected. Blockchains compatible with NFTs use their own cryptocurrencies to pay for transaction fees. So those who wish to start collecting NFTs will likely learn about cryptocurrency to pay for them.

Copyright 2022, NFTChronicle.com/

(NFTChronicle.com) – The world of NFTs is growing by the second. For artists, new blockchains and marketplaces mean new opportunities to display, promote, and sell their digital galleries. Yet, according to Gary Vaynerchuk, before an artist can become successful, they must grow their brand and build a community for support as artists have always done, long before the NFT market rose from the Ethereum blockchain.

Vaynerchuk, a self-made software developer and internet personality who admittedly knows far more about business than he does about art, runs a successful YouTube Channel, GaryVee TV. Still, to illustrate his point about art, he points to a painting on his wall that he calls “very expensive by my standards.” And it’s not the typical art he enjoys. So, why did he buy it? “I bought it because I love her.” He was referring to Lisa Bartlett, the artist, who previously worked for him and whose husband still works for him.

Vaynerchuk emphasizes community. Creating links and posting them to social media is “like waking up in the morning,” says the influencer, “now what?” Without the support of other artists, fans, and even friends and family, a collection has little hope of finding its way off the ground floor. 

OpenSea is full of collections that only their creators and a few happenstance passersby will ever see. Instead of getting caught in that void, Vaynerchuck advocates that artists find or create community and connection. You might choose to find forums and groups with similar interests or that seek to accomplish a purpose — it’s not just about posting art. If you follow Vaynerchuk’s concept, you might even advocate for the art and other artists you care about, build excitement about it, and start the journey to solidifying your brand.

Copyright 2022, NFTChronicle.com/

(NFTChronicle.com) – Before a journey into the world of cryptocurrencies begins, users need a place to buy, store, and transfer their digital assets, otherwise known as a crypto wallet. In what may seem like a confusing unfamiliar world, this simple task offers a starting point for an exciting new experience and a process that most will find far more straightforward than they expected.

There are two types of crypto wallets: self-custody and hosted. Many crypto marketplaces automatically open a wallet when a new member joins. The host becomes responsible for the safety and security of the wallet’s contents, removing the user’s need to do much of anything. Hosted wallets are for people who intend to use specific marketplaces and deal in particular cryptocurrencies. 

Self-custody wallets put the power and the responsibility of crypto ownership squarely on the user. Opening a self-custody wallet is a relatively simple task but includes far more liability than hosted ones. These wallets live on the blockchain and not on a centralized platform. A 12-word security phrase secures them, but the system allows wallet access and control to absolutely anyone who enters the security phrase.

The advantage of a self-custody wallet is autonomy. With a wallet from a provider such as Metamask, Coinbase, or Mycelium, users can purchase and trade most forms of crypto, convert digital assets to standard currency, and store and maintain non-fungible tokens (NFTs). Keep in mind that opening a crypto wallet will require identification before making a crypto purchase.

Opening a crypto wallet isn’t particularly difficult. The user’s intent is what matters most. For those looking for the easiest way to buy and sell, opening an account at any centralized crypto exchange will walk them through the process. For self-custody needs, checking with the top providers and making sure wallets are compatible with the crypto they plan to use is a critical step.

Copyright 2022, NFTChronicle.com

(NFTChronicle.com) – NFTs might be the most fun a collector could ever have. Those who grew up rifling through boxes of comic books or binders full of baseball cards probably remember the day they bought their first item from eBay. Exhilarating. Suddenly, a new world opened and collectors connected with brokers, changing the landscape and leveling the market.

The NFT market takes that one step further, offering digital images, clips, GIFs, and other innovative artistic mediums delivered safely and securely. Yet, is that all a non-fungible token can do? The answer is no. NFTs are far more diverse than acting as mere storage units. In fact, the number of unconventional uses for unique tokens is on the rise.

Here’s a great video to give you an idea of how you can use NFTs and what may be in store for the NFT market:

To understand why NFTs have so many possibilities, you have to understand the basics. Blockchain technology builds NFTs; essentially, the blockchain is a living record of everything that has ever happened on that chain. Because everyone can see the chain and it has no central database, like a bank, every piece of data on the chain is pure, transparent, and unchangeable. 

The ability to store information so transparently eliminates fraudulent transactions and entries on the chain. There’s always a paper trail. Because of its limitless amounts of storable data and the security and transparency it allows, we might see unique NFTs used for real estate transactions, safe and secure voting, identification, and a slew of other real-world possibilities making the next version of the internet an exciting prospect.

Copyright 2022, NFTChronicle.com/

Certain legal considerations are involved when buying or selling NFTs. This article will provide you with important information regarding these considerations to make your NFT buying and selling procedure legally secure.

Ownership Rights

This is a standard legal agreement. There are two types of ownership rights – physical and digital. Digital ownership rights can be transferred online or by email, but physical ownership rights can only be transferred in person or via mail.

Tort Of Conversion

The tort of conversion is a legal cause of action that is used to recover damages for conversion or theft. It is usually used by the plaintiff in cases where property has been taken from them without their consent. The original owner can sue the current owner in case of stolen goods or fraud possession. 

Copyright

Copyright is a legal protection for the creator of an original work. This means that the creator has exclusive rights to sell, transfer or destroy their work. If someone tries to copy the original work, buy an image of the actual product, or tries to profit by commercializing a copied NFT will breach the copyright rules. 

Royalties

Royalties are payments made by the owner of an intellectual property to its owner, usually in exchange for use of that property. There are two types of royalties that can be earned from the sale of an NFT – a fixed royalty and a variable royalty.

Fixed royalties are paid at a set rate for each unit of the NFT. Variable royalties are paid based on how many units have been sold of the product.

NFTs (Non-Fungible Tokens) are digital assets that can represent unique pieces of digital content, such as tickets to a concert or a virtual item in a game. They are one of the hottest new trends in the crypto space.

If you have an idea for an NFT and you want to sell it on your website, there are some things you need to keep in mind before you start selling these items.

Create A Website 

If you want to sell NFTs on your own website, it is important that you have a website with the right theme. You can use a template like WordPress or Elementor and customize it according to your needs.Make sure that your site is easy to navigate and has a good user experience.

Add The NFTs You Want To Sell

Add to your store the NFTs you want to sell. If you do not have any graphic design skills, it is best to hire someone who does for this step.

Market Your NFTs

Once you are done with the above mentioned steps, you can start advertising the sale of your items online by creating posts about it on social media platforms like Facebook, Twitter, Instagram, etc.

The future of trading is not just in the stock market. The future of trading is also in the blockchain and crypto space.

NFTs are unique digital assets that can be sold on platforms like Shopify. This guide will walk you through how to set up your Shopify store and start selling your NFTs.

Create A Shopify Account

To get your NFTs on Shopify, you need to create a Shopify account first. Once you have created an account, you can start selling your NFTs through the website.

The process is quick and easy – log on to Shopify.com, go through their pricing plans, fill out the details asked, make the required payments, and your account is created.

Develop The Website 

This is where you will have all the information about your NFTs and what they are about. You should also include a call to action (CTA) button for people who want to buy them. 

Choose Payment Processors 

Next, you sift through the payment processors supported by Shopify and choose the one you want to use for selling your NFTs online.

Create Your NFT

NFTs are digital goods, which means they have no physical form. They can be created using 3D printing or with software like Maya, Blender, or Cinema 4D.

To sell your NFT on Shopify you need to create a product that meets all the requirements of the platform and then add it to your store.

Set A Price & Market It

The price defines the value of your NFT. It may vary according to the creator’s will and what the audience is willing to pay. It’s important to then market the product through different marketing mechanisms such as online ads, influencer marketing, or through other marketing platforms.

NFTs are non-fungible tokens, which means that each token is unique and cannot be replaced by another token. They represent a unique item, property, or idea. NFTs are the new way to trade in the digital world and can be bought and sold on marketplaces like OpenSea, RareBits, Larva labs, and Axie marketplace.

OpenSea

OpenSea is a decentralized marketplace for virtual goods that allows users to buy, sell, and collect rare digital items from games like CryptoKitties and Decentraland. Users can search through different categories of goods or browse through the latest trending items on the homepage.

RareBits

The RareBits marketplace is a place where you can buy and sell NFTs. It has a wide range of items from crypto collectibles to digital art. If you are looking for a place to trade your cryptokitty, this is the marketplace for you.

You can use this platform to find anything from rare and unique digital assets to rare physical goods that are hard to find. 

Larva Labs

Larva Labs is a decentralized marketplace where users can trade their NFTs with other users. The platform provides the best possible price for both buyers and sellers, which makes it one of the top 4 marketplaces to buy and sell NFTs.

Axie Marketplace

Axie is one of the few marketplaces that offer in-game rewards for players based on their activity on the site. It also offers an auction house where you can buy and sell your NFTs with other players, which is not available on any other marketplace.