Swirge has recently enabled support for users to mint and trade non-fungible tokens (NFTs) on Swirge marketplace which is currently being developed on the platform. Users can now send, receive and mint NFTs from their Swirge wallet at cheaper and faster transaction rates.
Social media has been agog following the advent of this innovative technology that is disrupting the crypto space. The growth of social media and the internet brought about increased fraud as netizens impersonated creative works made by several digital creatives who were shortchanged and denied the chance to make a profit off their ingenious works. Due to the vast social network across the internet, it was difficult to track, identify and give digital creators the reward due to them for their creative work. Now, this phenomenon emphasized the need for a technology that will appropriately reward digital creatives and other investors with the appropriate reward. This gave rise to the birth of NFTs. And, now, the narrative is gradually changing.
What are NFTs?
NFTs are the new digital oil disrupting the crypto world. They represent digital assets possessing intrinsic value and they exist on a blockchain. NFTs can be in the nature of tangible objects such as art, GIFs, collectibles, avatars, music, in-game items, and videos. These assets can be traded on Swirge’s NFT marketplaces, often with the required cryptocurrency; they can be also be encoded with similar underlying crypto softwares. The intrinsic value of a NFT cannot be replaced or superimposed with that of another similar asset. They are very unique assets that have unique identification codes. This fact addresses the issue of impersonating someone else’s craft. With NFTs, buyers obtain proprietary right over their digital purchase, as they contain built-in authentication which signifies their ownership of the asset.
How can you mint and trade NFTs on Swirge?
To create or mint NFTs for sale on Swirge marketplace, first, you need to create an NFT marketplace account and a digital wallet that will be funded with the required cryptocurrency. By minting NFTs on Swirge platforms, you gain proprietary rights over your digital artworks. This feature holds a lot of promise for digital creatives and may likely bring an end to the era of impersonating other people’s ingenious works whilst making illegal wealth from the profits.
Users can also trade NFTs. First, you may need to fund your crypto wallet, which was automatically designated to you on signing up on Swirge social. Your crypto wallet works similarly to the regular digital wallet on different e-commerce and online retail platforms; it enables you to store your tokens and cryptocurrencies which perhaps may be needed for the purchase of any digital asset (or, NFT). Several tokens are available for taking on the platform, such as SWG, BNB, BTC, ETH, etc. Hence, you may fund your wallet with the cryptocurrency required to acquire the NFT of your choice. By purchasing any given NFT, you acquire the proprietary right to own such digital assets. On the other hand, you can also auction your newly acquired NFTs on the marketplace.
The possibilities awaiting this novel technology are endless. At Swirge, we believe it spans beyond digital creatives alone, although this is the most apparent. Now, you can join the bandwagon by signing up with Swirge using the link below. It promises to be a fruitful venture.
