Are you in on NFTs?

Have you seen NFTs?

Seems like a crazy fad, but how do we cash in when it is early enough?

Have we already missing the boat to the real money that is (was) there to be had?

Is there a residual market so that we can add them to our retirement portfolios?

I have NO fuckin clue, but I intend to find out more, as well as the answers to these questions.

I have friends and family that have the artistic talents to be able to crank out wonderful digital art in what seems like nothing flat. My ex-wife is very talented with her digital art. I have friends that create tattoo flash making it look effortless. They could stand to generate a nice stream of residual income.

When NFTs are created they can be sold, auctioned, or held as part of an art collection. When they are sold, there is a royalty that was specified by the first transaction that will go to the creator of the NFT. I do not know if subsequent owners get a cut or not beyond what they sold the NFT for.

My hope is to get this port to a point that I can promote it to be a long term page for others to refer to. If you know NFTs and wish to share your knowledge, please jump into the comments and I will get the new information added into this post so that all may benefit.

Once you have a digital work that you want to sell, it must be registered. It gets registered onto the blockchain of your choosing and currently Etherium appears to be the most popular coin for this. The registration is not free and it gets pretty fuzzy at this point. The registration cost has a network congestion factor to it, so it is cheaper to do during the weekend when the network is not as busy.

Useful links:

A general FAQ https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq

How to create NFTs https://www.ledger.com/blog/create-your-own-nft

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