#whatisannft

A significant drawback of the Ethereum Network, which houses much of the NFT art and marketplace, is that it imposes a considerable gas price on the minting of NFTs. The Solana NFT Marketplace is a good example of how to avoid this. Because of the increased gas charge, the Solana-based NFT marketplace is seeing increased activity. Solana is a new cryptocurrency that is posing a severe threat to Ethereum. People have also speculated that Solana is a potential Ethereum competitor. As an expanding market for the NFT, Solana has a significant increase in new projects in the Solana ecosystem. The following are some advantages of the Solana NFT Marketplace: - Lower gas fees. - They completed transactions in record time. - The Solana ecosystem is expanding at an exponential rate, day after day. The following are the top Solana NFT marketplaces: #1: Magic Eden: NFT Marketplace Magic Eden is the most popular Solana NFT marketplace, where you can easily make, sell, and buy NFTs. They do not charge a listing fee but a transaction fee of 2 percent on every transaction. The goods and services offered by Magic Eden Launchpad assist creators in minting their collections with no technological expertise. Magic Eden is compatible with practically all Solana wallets, including Phantom, Slope, Sollet, Solflare, Clover, Ledger, Solong, and MathWallet. It also boasts a popular NFT library, including titles by OnlyDice, Stoned Ape Crew, and Baby Ape Social Club. #2: Solanart Solanart is an NFT marketplace based on the Solana NFT marketplace that allows anybody to develop, sell, and purchase NFTs that are based on the Solana NFT marketplace. In exchange for every successful NFT sale, Solanart charges a transaction fee of three percent (3%). The creator may establish their own charge for their work. Solanart contains some well-known NFT collections, including Degenerate Ape Academy, Aurora, Solpunks, and Galactic Gecko Space Garage. It supports several wallets, including Solflare, Phantom, Clover, Sollet, Slope, Ledger, MathWallet, and Sollet. Solflare is a distributed ledger system. #3: DigitalEye DigitalEyes is the first open NFT marketplace for the Solana NFT Marketplace, where users may manufacture, sell, and purchase Solana's NFT. It is available to anybody who has an internet connection. Aurory, Degenerate Ape Academy, Frakt, and Galactic Gecko Space Garage are among the most popular NFT collections on DigitalEyes. DigitalEyes charge a 0.99 percent service fee on every successful NFT transaction. It is necessary to charge the buyer of the NFT two additional fees. A royalty fee specified by the inventor and a service cost. Final Thoughts As a final remark, NFTs have emerged as a popular issue in the blockchain business and the cryptocurrency world. Many investors and cryptocurrency enthusiasts worldwide are becoming interested in NFTs because of their distinct characteristics. Many crypto lovers are rushing to become a part of this life-changing resource of the cryptocurrency world. Because it has financial rewards - which are signigicant. For making a decent living from NFTs, there are several options to consider. If trading NFTs is one possibility, creating your own NFT marketplace is another. Read the full article

In tandem with the advancement of technology, the sophistication of scams is rising. Begin by taking the below NFT fraud measures into account. 1.      Remember to be on the lookout for phishing: bots on a variety of platforms, including Discord, are requesting users to confirm their account details. If they gain access to your digital wallet keys, they will be able to drain all of the cryptocurrency stored in your digital wallet. Instead, always go straight to the verified websites for any cryptocurrency or NFT transactions, and avoid clicking on any links that show up or entering your information into emails. 2.      Be careful of catfishing: Remember when your parents advised you not to talk to strangers? This contains celebrities who endorse a non-profit organization. Catfishing, on the other hand, refers to the creation of fictitious profiles to obtain information. How can you tell if someone is doing an NFT scam? Check out their profile to have a better understanding of them. They will not give a link to their NFT collection/portfolio, and/or the collection/portfolio will not be hosted on a well-known server. With bougie profile photographs including dope clothes, the profile will likewise appear to be too good to be true. You may be approached by someone who says, "I want to be your first buyer." They may also decide to follow you... and a million other friends of yours, with no one responding to your follow request. As an alternative, they may attempt to entice you with the quantity of cryptocurrency they have available. They'll also try to get as many positive evaluations as they can on an NFT. 3.      Pump and dump: Financial influencers are susceptible to the same kind of fraud as we are.  This is the process through which the price of an NFT or cryptocurrency is artificially boosted to enhance the amount of trade. Once the price has increased (been pumped), fraudsters sell the shares at a higher-than-usual price (dumped). Take, for example, Dogecoin. To avoid this, look into the history of the project you're considering investing in to learn more about it. 4.      Crypto swaps at auction: When you put your cryptocurrency up for auction, this is the most common scenario. When you resell your NFT, a bidder will change the coin that was used to make the purchase. Instead of receiving one Bitcoin, you might obtain X-coin (a completely useless cryptocurrency developed by our developer) if you accept the offer without first validating the payment method. 5.      Counterfeit NFT scams Make sure you're buying from verified accounts if you're concerned about counterfeit or plagiarized NFTs. A little amount of digital stalking and due diligence by finding the artist on Twitter, other social media channels, and their websites is worth its weight in gold – as is a little bit of due diligence by finding the artist on Twitter, other social media channels, and their websites. Check to see if the artist's profile matches the user profile from which you are purchasing. Is there another account with a similar name that has a significantly higher number of followers? If this is the case, the page with the higher number is most likely the authentic one. 6.      Disable your Discord DMs: Discord hackers are one of the most frequent NFT schemes out there, and you should avoid them at all costs. They occur when hackers obtain access to a Discord server's administration console and upload a bogus minting link in the announcements channel. The communication will generally appear to be coming from a project organizer and will offer a bargain that appears to be too good to be true. It will say something along the lines of "Due to high demand, we're releasing 1,000 more NFTs." As a result of their capacity to build demand, hackers will frequently purposely seek out collections. After a collection has sold out, most companies will not perform a surprising mint of extra NFTs," says the author. In addition, we should mention that most projects will place all official links in a separate, designated channel and will not allow minting to occur through "sketchy looking URLs" - rather, it will only occur on the project's central website. When skimming through any NFT marketplace, keep in mind to: - Fact-check your information. - Aovid Pop-ups. - Make certain that you the profiles have complete image. - Keep your information coming from reputable sources. Always keep in mind that social media isn't your sole source of financial motivation. If you are dubious of the brand or any members of the brand that are reaching out to you, it is better to just avoid them until you have the opportunity to conduct your research and verify who you are talking with on a personal level. Read the full article

This is an informative video on how to make money with NFTS for beginners