Category: NFT

Categories
Genel NFT

History of NFTs

It is an undeniable fact that NFTs or Non-fungible tokens are one of the most popular creative content production and investment tools today. Its secure infrastructure, the freedom it offers to artists and the ease of copyright protection have made NFTs much more popular. In this article, we will focus on the history of NFTs.

First NFT

According to sources, the first known NFT was created by Kevin McCoy and Anil Dash in May 2014. This NFT, a video clip called Quantum, was created by McCoy’s wife, Jeniffer, thus beginning a new era. Of course, when an NFT is created, the trade also needs to be performed. The video was later recorded on the Namecoin blockchain by McCoy and then sold to Dash during a live presentation at a conference in New York. This went down in history as the first NFT buy-sell transaction.

McCoy and Dash realized the potential of this technology behind this conference and gave their first name to NFTs as “money-making graphics”, although they are not called NFTs. With the technology it provides, Namecoin has linked a work of art, a non-tradable asset, to a tradable blockchain via metadata. It created an alternative blockchain to the technology of cryptocurrencies with multiple tradable units and no metadata.

First NFT Project

In October 2015, the first NFT project, Etheria, was announced at Ethereum’s first developer conference, three months after the launch of the Ethereum blockchain. However, the vast majority of the 457 Etheria created were not sold until the buying spree on March 13, 2021. In this sale, NFTs initially priced at US$0.43 were sold for US$1.4 million.

The term NFT has come into wide use with the standard ERC-721, which was first proposed through Ethereum GitHub in 2017, after the first NFT projects started. The publication of popular projects such as Curio Cards, CryptoPunks, Pepe exchange cards, which were released at that time, had a great impact on the spread of this term. In particular, projects involving characters and internet memes in popular culture have also attracted the attention of those who are not interested in NFT.

How did the term NFT come about?

The term NFT has come into wide use with the standard ERC-721, which was first proposed through Ethereum GitHub in 2017, after the first NFT projects started. The publication of popular projects such as Curio Cards, CryptoPunks, Pepe exchange cards, which were released at that time, had a great impact on the spread of this term. In particular, projects involving characters and internet memes in popular culture have also attracted the attention of those who are not interested in NFT.

History of NFTs

Increasing interest in NFTs

The success of NFT projects, which initially came with online games, increased people’s interest in this subject. With the increase in similar projects, the NFT market tripled in 2020 and reached 250 million dollars. At the beginning of 2021, it continued its growth with more than 200 million dollars of shopping in the market. With the growth of the market, companies that put NFT in their center started to apply for registration. In January 2022, 450 trademark applications were filed with the U.S. Patent and Trademark Office. There are also influential companies and well-known brands such as NYSE, Star Trek, Panera, Walmart, Elvis Presley, Sports Illustrated, Ticketmaster and Yahoo that have been trademarked on NFT.

At the same time, NFTs produced by artists began to stand out with the sales of a few NFTs in the field of art, whose prices approached the works of art from the old period.

Questions answered by the blog:

  • What is NFT?
  • What is the first NFT?
  • Who invented NFT?
  • What is the first NFT sale?
  • How did NFTs become popular?
  • How did NFTs come about?
  • What is the history of NFTs?
Categories
Genel NFT

What Is OpenSea and How To Use

Cryptocurrencies and NFTs have become very popular as investment tools. The main reason for their preference are the easy accessibility of these investment instruments, fast buying and selling options, and high profit rates. When it comes to NFT, one of the first platforms that comes to mind is OpenSea. So what is OpenSea? The platform, where every user can easily open an account and make their own productions, has become an ideal address for users.

What is OpenSea?

OpenSea is an American online non-fungible token (NFT) marketplace headquartered in New York. At the same time, it is the largest among its counterparts in terms of volume. It contains thousands of projects and hundreds of thousands of NFTs.

Apart from being an NFT marketplace, OpenSea is a platform where NFT is produced and sold. It enables NFTs produced through the tools it contains to be put up for sale in more than one way, and at the same time, it allows you to earn money from future sales even if you have sold your NFTs using only intellectual property and no longer own them, with these tools.

what is OpenSea and how to use OpenSea

History of OpenSea

OpenSea was founded in New York City by Devin Finzer and Alex Atallah on December 20, 2017, when NFTs were just beginning to be heard by the masses and multiple projects were starting at the same time.

After the first pre-seed investment round in 2018, OpenSea raised $2.1 million in capital in November 2019.

In December 2020, OpenSea announced that any user can generate NFTs on its platform for free, allowing anyone to join the platform. In March 2021, OpenSea removed the approval requirement for listing NFT collections, enabling people who entered the platform to produce and sell NFTs faster. After this decision by OpenSea, NFT manufacturers and artists on the platform opposed the decision, saying that the decision would lead to NFT plagiarism, that is, theft of designs.

On September 17, 2021, OpenSea released Android and iOS apps where only users can view and track NFTs. The application does not allow any form of sale or purchase.

In January 2022, OpenSea acquired Ethereum wallet manufacturer Dharma Labs, and OpenSea refunded users approximately $1.8 million after a user interface bug allowed users to purchase more than $1 million in NFTs at a discount.

In April 2022, OpenSea gave users the ability to buy and sell popular Solana NFTs in the Solana beta version of OpenSea. This feature was announced in November 2021.

How do I enter OpenSea?

Simply enter the website to navigate OpenSea and discover NFTs.

To enter OpenSea to sell or buy NFTs, you must first have a crypto wallet. OpenSea currently supports many crypto wallets including MetaMask, Coinbase Wallet, WalletConnect, Phantom and Glow. After creating your wallet, it is enough to connect your wallet by entering OpenSea, to generate and sell NFTs or to buy NFTs.

What is NFT Collection?

Many NFTs listed on OpenSea are listed in collections. Collections with a theme make NFTs more valuable and preferable. As collections become more popular, NFTs in collections can also offer different privileges, while the prices of individual NFTs increase. Some collections offer private Discord servers as an example, while others may provide entrance tickets for a large party or real life business advantages.

How to Buy NFT on OpenSea?

Once you have linked your cryptocurrency account to OpenSea and selected an NFT, it gives the buyer the option to bid or buy directly. It all depends on how the artist who produced the NFT wishes to sell it. If you bid on an NFT you like, the NFT will be sold to you if the highest bid is yours when the auction period ends. However, NFTs offered for sale without an auction are instantly available at a fixed price.

Which Cryptocurrencies can NFT be purchased with?

While Ethereum is the most used cryptocurrency when shopping on OpenSea, currencies such as Solana, Wrapped Ethereum can also be used. Each currency has advantages and disadvantages on both the seller and buyer side. NFTs using Ethereum are relatively more popular and reliable than others, but have high gas fees, while other cryptocurrencies have no or very low gas fees.

Questions answered by the blog:

  • What is OpenSea?
  • History of OpenSea?
  • How to Use OpenSea?
  • How do I enter OpenSea?
  • What is NFT Collection?
  • How to buy NFT on OpenSea?
  • Which Cryptocurrencies can NFT be purchased with?
Categories
NFT Genel

What Is Smart Contract?

When it comes to crypto money, NFT or decentralized economy, probably everyone has their opinion more or less. In order for new technology products like these to emerge, more than one technology actually needs to come together. Blockchain is one of the most well-known technologies, but without the structures we call Smart Contract, the technologies we mentioned at the beginning would not exist.

What is Smart Contract?

Smart contracts, like any other contract we know today, determine the terms of the agreement, its parties and, in fact, everything that makes the agreement a deal. However, the feature that distinguishes smart contracts from others is actually the integration of cryptography and blockchain, which also enables technologies such as NFT and crypto money to exist today.

Smart contracts are not like papers on a desk or in a safe as we know and are familiar with. Instead, they are transactions that run on codes defined on the blockchain.

The most basic feature of Bitcoin is that it makes it possible to transfer money without an authoritative and self-determining “reliable intermediary”. Smart contracts not only support the foundation but also take it forward, securely automating and virtually decentralizing any contract between parties, no matter how complex. It also offers security, reliability and unlimited accessibility as it runs on cryptocurrency blockchains.

What is smart contract

How Smart Contract Works

In fact, smart contracts that work with the If-then principle, which is a simple algorithmic logic, are prepared after the agreement of the parties, that is, a transfer transaction, signed cryptographically and added to the blockchain. Added contracts can interact with other components on the blockchain. This interaction can take the form of initiating, sending, or receiving a transaction.

When the specified conditions in the contract are prepared, smart contracts automatically enable the contract conditions defined in it to be executed.

Why Are Smart Contracts Important?

Smart contracts allow developers to create decentralized applications and tokens that are among the most important content of Web3.0 and today. It is used in many areas from the new financial tools and applications brought by Web3.0 to supply chain and gaming experiences.

With the help of blockchain technology, if records such as title deed, motor vehicle registry and brand registry are kept on the blockchain in the near future, it will be possible to transfer many property rights from one user to another through smart contracts without the need for a reliable third institution such as government institutions or banks.

Questions Answered by the Blog:

  • What is Smart Contract?
  • How Smart Contracts Work
  • Why Are Smart Contracts Important?
  • Is there a connection between cryptocurrencies and smart contracts?
  • What is the link between blockchain and smart contract?
Categories
Genel NFT

Biggest Collection: Bored Ape Yacht Club

The NFT Collection That Disrupted the Market As It Was Released: Bored Ape Yacht Club(BAYC).

It is an NFT collection that is on the agenda of the market with pre-sale on April 23, 2021. Bored Ape Yacht Club, built on the Ethereum blockchain, consists of humanoid ape profiles. It is a collection with 10,000 ape figures. Each humanoid ape figure in this collection has ERC-721 tokens and hosted on IPFS. Names such as Paris Hilton, Jimmy Fallon, Stephen Curry, Eminem and Justin Bieber, whose buyers we all know, seem to have taken their place in this NFT trend.

“Welcome to the Club.”

The founders of Bored Ape Yacht Club add their own interpretations to the NFT collection, which is different from any other NFT collection. With any BAYC ape figure you purchase, you gain membership in a club whose benefits and offerings will increase over time. You can be included in this ecosystem that they want to create in the long run.

Who are the Founders of Bored Ape Yacht Club?

The creators of Yuga Labs, the founding company of the Bored Ape Yacht Club project, have been using the pseudonyms Gargamel and Gordon Goner since they went on pre-sale. The real names of these two people were revealed in February 2022: Greg Solano and Wylie Aronow. The CEO of Yuga Labs is Nicole Muniz.

biggest nft collection bored ape yacht club

So What is The Sales Volume of Biggest NFT Collection Bored Ape Yacht Club?

Sales volume of the Bored Ape Yacht Club NFTs in May 2022 was approximately $214.92 million. BAYC NFTs, which left behind 2 billion dollars in total NFT sales, have sold 313 million dollars of BAYC NFTs in the last 1 month.

How APECoin Launched?

APECoin is a decentralized cryptocurrency inspired by Yuga Labs’ Bored Ape Yacht Club project. Supported by the APE Foundation, this cryptocurrency was created for use in the emerging Bored Ape Yacht Club ecosystem. But soon. Various products/services using the ApeCoin cryptocurrency seem to collectively form the APE ecosystem.

Questions answered by the blog:

  • What is the Bored Ape Yacht Club?
  • What is the story of Bored Ape Yacht Club?
  • Who are the founders of Bored Ape Yacht Club?
  • How was APECoin launched?
  • How is the sales volume of Bored Ape Yacht Club?
  • How is Bored Ape Yacht Club different from other NFT collections?
Categories
Genel NFT

A Shining Star: CryptoPunks

Here is the collection that has taken the NFT world by storm: CryptoPunks.

CryptoPunks was released as a fixed set of 10,000 items in mid-2017 and was one of the inspirations for the ERC-721 standard. They have appeared in places like The New York Times, Christie’s of London, Art|Basel Miami and The PBS NewsHour.

CryptoPunks is the first sight of the NFT world and is the ancestor of NFTs. So what is the story of the CryptoPunks collection?

We are in an era where assets, the production and storage of which are based on NFT technology, are gaining popularity day by day. An important collection that has earned this popularity, the CryptoPunks collection is known as the first NFT collection to be etched on the Ethereum blockchain. In addition to playing an important role in the development of the ERC-721 protocol, which is the basis of NFTs, it has also inspired many NFT artists. This collection, which includes 10,000 different pixel faces, is one of the first NFT projects.

What is CryptoPunks?

CryptoPunks is one of the oldest NFT collections developed on the Ethereum blockchain. This makes CryptoPunks one of the pioneers of the NFT world.

cryptopunks

Who is the creator behind CryptoPunks?

Larva labs, known for producing the CryptoPunks NFT collection; Founded by Matt Hall and John Watkinson, the creative duo who started the project in 2017 is the “crypto art” we know today. We can say that the movement started and transferred it to wider audiences.

How is the CryptoPunks market?

CryptoPunks avatars are developed with the ERC-20 protocol. However, they need to be “wrapped” in order for them to be sold on NFT Marketplaces. This is done with the help of the Metamask digital wallet.

The proliferation of the Wrapped transaction has allowed CryptoPunks avatars to take their place in many different NFT markets.

We can say that there are 10,000 avatars in total and that these avatars have a rarity among themselves. For example, there are 44 bruised avatars. If we go from general to specific, bruised male avatars are rarer than normal male avatars.

How to buy CryptoPunks avatars?

  1. Download and install the corresponding Chrome browser extension called MetaMask.In this way, you will allow websites to spend (already available) Ethereum sites.
  2. If you have opened a new account, buy some Ether. The MetaMask plugin has a button that will allow you to buy Ether from Coinbase.
  3. After installing the plugin, the website will recognize it and buttons will be added that allow you to bid, buy and sell CryptoPunks avatars directly in the interface. For example, you can buy CryptoPunk#7851 for 05 ETH(110,612.25 USD).

Questions answered by the blog:

  • What is the story of CryptoPunks?
  • What is CryptoPunk?
  • Who is the creator behind CryptoPunk?
  • How is the CryptoPunks market?
  • How to buy CryptoPunks avatars?
  • How many avatars are in the CryptoPunks collection?
Categories
Genel NFT

What NFT Collection Means?

If you have a computer, you can create and sell your own NFT in less than 10 minutes. So when it’s so easy to create and sell NFTs, why doesn’t everyone just go in and make millions like in the news? The answer is simple: Privilege. One of the biggest features sought in NFTs is the privilege it provides to people who buy, unlike artistic concerns.

This privilege we are talking about may be in the form of having an NFT only, or additional benefits provided by the purchased NFT after purchase. To give an example of the first, the NFT of the first tweet posted on Twitter is only yours, and it’s a rare asset. The latter is usually provided through the collection.

What is NFT Collection?

NFT Collection is the name given to NFT series created in the same theme and serving the same project. One of the biggest differences from stand-alone NFTs is that they usually provide privileges to people who own a collectible NFT.

Another feature of the collections is that they have a stronger infrastructure in terms of marketing. When the privileges offered by the collections are combined with factors such as the time of sale and the amount of supply, they enable these prices to reach astonishing levels.

What are the Advantages of NFT Collections?

The following examples can be given to the privileges that change on a project basis:

  • Yacht party held once a year
  • Advance access to upcoming NFTs
  • Privileged Discord groups
  • Special Discounts
what NFT collection means

Some Popular NFT Collections

Questions Answered by the Blog:

  • What is NFT Collection?
  • What makes an NFT valuable?
  • What advantages does the NFT collection offer?
  • What are the most popular NFT collections?