You’ve been seeing people mint money hand over fist. Every day you see news of people selling their Non-fungible tokens for millions of dollars, and you’ve finally arrived at the decision that you should jump in as well.
You have tangible goods that you can convert into NFTs. Memorabilia, collectibles, you name it. All that stands between you and millions of dollars in NFT sales is a great NFT developer that can deliver the goods in a digital form.
Although there are no magic bullets to finding great NFT developer talent, there are certainly ways to narrow it down to likely contenders.
Let’s get you up to speed on what you are dealing with when developing your own NFTs.
What Is An NFT?
Non-fungible tokens are digital collectibles that could be flawlessly traced. NFT are essentially unique representations of either digital assets like art, music, video, streams, trading cards, etc., or tangible assets, stored primarily on the Ethereum blockchain.
What sets them apart from any other digital collectible is that an NFT carries a distinct signature that permits its owner to be traced and verified with zero doubt. Its provenance is recorded on the Blockchain network forever.
The domain that NFT reigns have essentially redefined the way we create and share fiat funds and tangible property. Basically, NFT enables any contributor who takes the next step and tokenizes signature assets that provide access to the prestigious and rich DeFi market.
By signature assets, we mean minting a limited supply of tokens through which creators can emulate scarcity that helps the prices through the roof. A great example of this within 2021 is the synth-pop artist Grimes who has generated $6 million in NFT sales. Similarly, the musician 3LAU sold an album of NFTs for $11 million.
In this prestigious market, you stand to gain the value for what you are offering, and more than anything, you need talent that understands this.
An NFT developer that can deliver the following:
- Multiplying value due to actual scarcity
- Indivisible and seamlessly transferable
- Secure and recoverable if hacked.
- Endlessly and privately Verifiable for true ownership.
Whether you wish to combine memorabilia and NFTs, sports and NFTs, gaming and NFTs, or Fashion and NFTs, a competent developer should be able to provide you with ideas on features, options, and additional perks that you can program into your NFTs to attract the needed buyers.
An excellent example of building perks into your NFT is how a popular band utilized the appeal of front row seats at its future concerts to appeal to fans into massive value generation for its NFT. The band “Kings of Leon” is the first US music group to release an album as an NFT. Their release of an album called “When You See Yourself” included multiple perks. The three different kinds of NFTs that came with the album consisted of a special album package, limited edition vinyl, live show perks, and exclusive audiovisual art.
In addition, for diehard fans of the band, the NFT platform created 18 exclusive NFTs they called “golden tickets” The perk allowed the fans to reserve an actual front-row concert ticket at any of the band’s concerts for the rest of their lives. To ensure the rarity of the token, the NFT minter auctioned off only 6 of the 18 NFT “golden tickets” and vaulted the remaining 12 tokens.
A good NFT developer can envision such ideas and the technical underpinnings to deploy them successfully to make your NFT get the attention and the investment it deserves.
You Want an NFT All-Rounder
When you scour the net, you will find plenty of programmers and developers that have worked on creating an NFT, and most can even customize the internal options that need to be programmed for the NFT to work correctly. However, it would be best to understand how NFT works in the entire scheme of things in the blockchain ecosystem.
It would be best if you had a developer who understands that NFTs are not like other currencies and are designed by custom protocol specifications, such that NFTs are not divisible into smaller units.
The developer should also be well versed in NFT marketplaces and how they can be quickly sold and purchased through multiple marketplaces with safe P2P transactions.
The reason is that each major purveyor of NFTs is setting up their mainnet and developing their methodologies in how NFTs are produced and sold. This includes the most successful NFT marketplace Dapper labs, called NBA Top Shot. Dapper labs developed their blockchain called Flow.
Now you might be wondering why to develop a brand new platform for your NFTs. It is because the classic Ethereum blockchain is too expensive and painfully slow. This also allows the buyer to buy and keep NFTs in their collection, knowing that they are the only ones with the official version of the highlight.
This way, a user can download the NFT and the related image for free, but their exclusivity and ownership of the NFT have the principal value. Blockchain records the purchase and securely stores the ownership information about who acquired a particular item and retained the item creator’s data. For NFT fans and collectors, these purchases are like purchasing writer’s manuscripts or original paintings.
A decent NFT developer understands this process intrinsically and allows for elements in the code for the NFT to accommodate both the creation and furnishing of the NFT with ease.
In conclusion, finding a decent NFT developer is essential for your NFT project to succeed and garner the value you seek to receive from your investment of time, money, and effort into developing a unique project.