1. Startups

Community Based, These are Tips for Building a Career in the NFT World!

Learn tips and best practices in the NFT world at the #TuesdayStartup event!

Kata NFT began to be widely discussed by the general public in Indonesia. Although it is relatively new, this community of digital art lovers has become easier to find in Indonesia. Talented creators from various backgrounds and art collectors began to venture into the world of NFT.

In Indonesia itself, it can be said that the viral phenomenon of Ghozali Everyday, which made a profit of Rp. 1,5 billion from the sale of its NFT, helped spread the concept of NFT more quickly to various circles.

In line with this, Irvin Domi as NFT Enthusiast & Gallery Keeper RURU Gallery at the #TuesdayStartup event March 15, 2022 then, said that the uniqueness and consistency of the NFT creators is what makes NFT's works famous and sold.

Domi also added that the criteria for a good NFT work are sometimes subjective, but the crucial point in his view is how the NFT creator treats other creators and/or collectors. According to him, NFT is community-based, so it is important to maintain the ecosystem and build relationships within it, not just buying and selling and wanting big profits.

Process, Terms and Strategy

For those who want to try to become NFT creators and collectors, Domi and #TuesdayStartup host Wiku Baskoro, Co-founder of Hybrid.co.id, discussed in detail the process flow of entering the NFT world. Starting from preparing to open a digital wallet account specifically for crypto, choosing an NFT marketplace and strategies on how to sell and buy NFT works.

Process flow

Explained by Domi, the most basic thing is to understand the concept of blockchain first, then after creating a crypto digital wallet account to be able to enter the NFT marketplace, he gives an example using the Kukai crypto wallet. The process of buying crypto coins is also as easy as just a money changer on various platforms such as Indodax or tokocrypto. It should also be noted that digital wallets must also be adapted to the types of tokens available. Like Kukai, which uses tezos coins, the marketplace also adjusts who can accept these tezos coins. After the crypto digital wallet is ready, you can easily go straight to hunting for the NFT works you want to collect.

Basic Terms

Summarized from #TuesdayStartup here are some basic terms in the NFT world: 1. Flippers

People who often buy NFT works that are predicted to be popular and resell them to collectors who don't have time to participate in auctions.

2. Creator

People who make NFT works and sell them but sometimes buy too, but the focus is on creating works 3. Mining 

Uploading works

4. listing

Selling works

5. Marketplaces

Like a normal marketplace in general, a place for buying and selling NFT works.

6. Edition

A copy or a copy when in the world of book publishing. In NFT, it is also possible to determine how much or how little you want to sell your work.

7. Royalties

What characterizes NFT and contributes well to creators is its royalty system. Creators will continue to receive royalties from NFT works resold by collectors.

Strategy to Play in NFT World

For novice creators, Domi suggests building a 'name' first and always consistently progressing. Even when you want to sell, it is recommended to start with a low price so that more people are expected to be interested in buying and spreading your NFT works. One thing Domi emphasized before closing the #TuesdayStartup session, NFT is a community-based sector, so it is necessary to maintain the ecosystem by establishing relationships with players in the NFT industry.

Initiated by this, you can meet and connect with various NFT communities while enjoying NFT works directly in the real world by participating in events Indo NFT Festival which will take place offline at the date of 9 - 17 April 2022 at RJ Katamsi Gallery Yogyakarta for free. Supporting this NFT exhibition, the first NFT marketplace in Indonesia, ShopMall, also sponsored this event.

Not to forget, DailySocial.id will also be present to cover and present interesting discussion treats in the event talkshow which will be broadcast via streaming on Youtube Live and Instagram Live DailySocial.id accounts. You can visit directly to the page art-popup.com for information and reservations.

If you want to find out more first, you can also join the #TuesdayStartup webinar on March 22, 2022 which will explain further details of the Indo NFT Festiverse event here.

#TuesdayStartup “Art at The Junction With Tech” list: http://dly.social/ssxnft3

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