Non-fungible tokens, or NFTs, have taken the digital world by storm over the past year, revolutionizing the way we view and value art. However, while many people associate NFTs with digital artwork such as static images, there is actually a whole world of possibility when it comes to NFT videos.
There are some successful cases already, like the NBA Top Shots. Still, few have taken advantage of this format, so there is plenty of room for new faces to appear.
That’s what we will discuss here: how to create NFT video art, what you should consider when making it, and the benefits it will bring you compared to doing it and publishing it in more traditional ways.
What Are NFTs?
NFT stands for non-fungible tokens. They are unique digital assets that lie in Blockchain technology and that people can trade in digital markets using cryptocurrencies.
NFTs are particular pieces of digital art. Only one person can be the owner of a specific NFT. Although many NFTs are only a piece of digital art, most are part of digital collections, with more even thousands of NFTs in the collection.
NFTs are also known as digital collectibles since many people and holders buy many of them to build a great collection of valuable tokens.
NFTs can be a virtual representation of real-world objects, such as apparel, painting, sculptures, and more.
Common NFT formats are the following:
- Graphic;
- Video;
- Music;
- GIF;
- Collectible;
- Video Games.
Read more about : Basics – WHAT IS NFT?
What Is an NFT Video?
Basically, an NFT video is a moving NFT. Since every NFT video has a unique code, they represent the digital scarcity that the video never had before.
Like regular NFTs, NFT videos are becoming more popular and a great way to buy and sell digital art. And as these non-fungible token videos have one owner, they are valuable digital assets that can provide multiple monetary benefits and status.
NFT videos have a specific size and dimensions, not too big but also not too long. Thus, you can transform any short video into a digital file and trade it as any other piece of digital art.
Benefits Of Making an NFT Video
NFT technology will change how videos are stored, delivered, and consumed by people. And it will bring many benefits to the creator.
No Third-Party Involved
It is already happening in the music industry. Filmmakers are looking for new ways to distribute their work, and NFTs promise to let them keep all the revenue without cutting a share of other third parties involved, like streaming services.
A good example is the famous director Quentin Tarantino releasing NFTs based on some Pulp Fiction uncut scenes.
A New Way to Build Up a Fanbase and Release Exclusive Content
You can also use NFTs to release merchandise and exclusive movie content to hype the project around it.
The uniqueness and collectible nature of NFTs also will give the content extra value for your fans.
Easier Monetization Business Model
Not only can classic filmmakers take advantage of NFTs, but YouTube content creators too.
Nowadays, gaining revenue through YouTube is becoming quite difficult, as most depend on brand sponsorship, donations, or selling their own merchandise.
NFT opens up a new door to monetize content in many forms, like releasing exclusive content in this format.
No Censorship
Another concern for many YouTube content creators is how restrictive certain topics the platform can be.
Being completely decentralized, you can do videos about (and say) virtually anything without the concern of a platform censoring or demonetizing your content.
Some Aspects You Should Consider Before Creating an NFT Video
Before creating your video NFT, you should consider some relevant aspects that can define your type of video.
NFT Marketplaces
Creating NFTs involves choosing which platform to mint your new video digital asset. There are dozens of NFT marketplaces where you can trade your own NFT videos. Let’s mention the most relevant.
OpenSea.io
OpenSea is the most comprehensive NFT platform worldwide, which allows you to create your own NFTs or buy, sell, and trade NFTs in multiple forms and currencies. It includes a step-by-step tutorial on how to create NFT videos and regular tokens. You can sign up for free on OpenSea and search for your preferred art form if you want to buy digital art.
SuperRare
SuperRare is another excellent NFT marketplace where you can mint your original video clip turned into an NFT. Here, most famous creatives and artists publish their digital artwork, and hundreds of thousands of people around the world come to buy NFTs, including non-fungible video tokens. Artists who sell their digital art pieces in primary and secondary markets receive royalties forever. Artists receive NFT royalties after selling their work, building a consistent income stream using smart contracts.
Rarible
Rarible is the favorite site of creators who want to mint their NFTs and create their own marketplaces for their communities. Besides, Rarible houses many of the most famous collections and digital assets currently in blockchain technology. Rarible is the perfect marketplace where you can mint your unique token easily and sell it quickly. Rarible has its own token Rarible, which you will need to sell your unique item.
Nifty Gateway
Nifty Gateway is an attractive NFT marketplace with a great mobile device application where many novices and experienced artists mint their artwork daily. In Nifty Gateway, becoming a publisher is straightforward, whether you’re an artist, a curator, or even a brand. The best of this NFT marketplace is that it has no gas fees and boasts many payment options, including the Gemini Balance, a particular verified cryptocurrency.
Foundation
Foundation is a popular NFT marketplace that allows creators to sell their digital artwork and collectibles through blockchain technology. It offers a user-friendly interface and advanced features like customizable smart contracts and auctions.
However, it has higher fees than some other marketplaces and a limited selection of cryptocurrencies for transactions. Despite this, it remains a top choice for artists and collectors due to its active community and curated selection of high-quality NFTs.
Format and Video Size
Keep in mind that every NFT marketplace supports a different NFT video size. For this reason, verifying the maximum size that marketplaces support is essential. The following are the specifications of the most popular NFT markets:
- OpenSea –max 100 MB file size.
- Rarible –max 30 MB file size.
- SuperRare –max 50 MB file size.
- Foundation.app –max 50 MB file size.
Regarding the video aspect ratio, the best is creating your own NFT in a square format, i.e., 1:1: with a resolution of 1080px.
Furthermore, every marketplace has specific format requirements, so it’s important to check the following information before you export your video.
- OpenSea: MP4, MP3, GIF, WAV, GLB, OGG, GLTF, JPG, PNG
- Rarible: MP4, MP3, GIF, WebP, JPEG, PNG
- Foundation.app JPG, MP4
- SuperRare MP4, WebM, 3D model files
Digital Wallets
Digital wallets are mandatory if you want to mint your non-fungible token in the cryptocurrency space and marketplaces. But remember…
…not all digital wallets support all cryptocurrencies, and not all marketplaces support all wallets and cryptos.
Nowadays, the most common blockchain technology is Ethereum. ETH is available in most marketplaces, so the digital wallet you choose is likely compatible with the crypto space of your preference.
The only con of Ethereum is that it’s a bit expensive, so you will have to spend a lot of money minting your NFT videos. Some recommended NFT digital wallets are the following:
- Metamask.
- TrustWallet.
- Coinbase Wallet.
How Can I Create my own Video NFT?
Want to know how to make an NFT video? It’s not difficult if you have enough knowledge and you’re perseverant. Besides, some tools will help you with this purpose. Here’s a step-by-step guide.
Create a Video in the Format of your Preference
The first step is to create your video. There are many options, software, and platforms to plan, build, and edit your video efficiently. Illustrator, Photoshop, Krita, and others are some interesting software you can use for creating images and videos.
Still, you must check the format possibilities; remember that later you’ll have to mint it in the specific in one of many NFT marketplaces.
Besides, remember to edit your digital art, so it will fit the requirements of the market. It means verifying that the text, description, size, and format are proper for your chosen marketplace.
Get a Wallet with the Corresponding Blockchain
It would help if you acquired a digital wallet. Remember that a wallet stores NFTs and cryptocurrencies to trade digital items or buy and sell cryptos. You’ll need crypto to mint your video NFTs since you must pay fees and a percentage to mint your creation on the NFT website. So, buy cryptos and move them to the wallet you chose.
We strongly recommend using Metamask. It is an Ethereum wallet that fulfills all the requirements we mentioned and is quite easy to set up and use. It is also one of the most secure virtual wallets to store any digital asset.
You can simply download Metamask on their website, follow the instructions to create an account, and set it up on your web browser.
Store Some Cryptocurrency to Trade
Later on, when you are ready to mint your NFT, most marketplaces will ask you to pay a gas fee. It is like a tax for the work of creating NFT, and you must have some crypto stored to pay it.
That’s why we recommend having some cryptocurrency stored and ready. You should have the same crypto of the blockchain you have chosen. For example, if your NFT is based on the Ethereum blockchain, you must have ETH stored.
Register in the Marketplace of Your Interest
Sign up and create your account on the marketplace you consider the best to upload and promote your project. In a previous section, we shared the most notable NFT marketplaces on the Internet. So, choose the one where NFTs work exceptionally and the best site for NFT videos.
A piece of advice: explore all the marketplaces mentioned above and check conditions and requirements. Remember that most support Ethereum Blockchain, but not other blockchains.
We will use both OpenSea and Rarible as an example, as both functions quite similarly.
- Hit the “Sign Up” button and follow the instructions. They don’t require much work other than verifying your email address.
- Once you have your OpenSea or Rarible account ready, click on the “Create” button, which will lead you to connect your virtual wallet to the marketplace.
- Follow the instructions, and you will proceed to the next and most important step: create an NFT.
Mint your Video NFT
It is now necessary for you to upload your creation onto the blockchain of your choosing. The marketplace will ask you to connect your digital wallet first to upload your creation later. In the process, you may have to edit the file and set up the selling method. You can offer your video NFT straightforwardly to users or use the Auction method, where interested people will make their best offers to acquire your creation. .
Both marketplaces allow you to list your NFT using these methods:
- Fixed Price: It allows you to set up the NFT price, and the first buyer will instantly get it.
- Timed Auctions: The best bidder during a certain duration of time will get the NFT.
Remember that you can choose to sell a singular NFT or a collection of several NFTs. For the latter case, you will pay the gas fee only once, alongside a 2.5% service fee that goes to the marketplace.
Once you are satisfied with everything, just click “Sell” or “Complete Listing,” and your video NFT will be uploaded and sold.
For a more in depth explanation on how to make an NFT, check out our guide in NFTMonk.
Promote your Video NFTs
Once you’ve uploaded your personalized content in the form of a video NFT, it’s recommended that you promote it for people to check it on the platform. Besides, this way, you can prove you have ownership of your creation, at least until a buyer acquires it.
Final Thoughts
We hope you disrupt the video industry with the NFT creations you’ll release. Imagination and creativity are not limited, so it’s just a matter of grabbing your computer and creating your profitable clips. The rest we explained above in this article.
