How to Create, Mint & Sell NFT - Full Course From Scratch

hey everyone welcome to the course on  nfts in this course we're going to teach   you everything you need to know about nfts  you're going to leave this course thinking hey   i know everything there needs to know to have a  solid foundation when it comes to nfts now nothing   in this course is considered investing advice be  aware of that but we'll be teaching you all of the   basics since nfts is such a hot topic and how to  navigate the nft space now the goal of this course   is to learn about nfts to understand the uses of  nfts because there are many uses right now we're   seeing one predominant use being digital art be  extremely popular but there are many uses for nfts   and then we're going to show you how you can  mint and sell your own nfts on a marketplace   to simplify it we're going to take you through  everything that is nft right now but we're also   going to break down hey what what is this nft  concept what can i do with it and so at first   we're going to dive a bit deeper into learning  about nfds we're going to focus on the what the   why the how and by doing that we'll create a  strong foundation about this concept of nfts   because it's broader than the use case that  is being used for today which is digital art   and then once we zoom in on that we'll be taking  a look at understanding the uses because there are   more uses than what we're seeing right now  we're going to say hey what uses are there   why is digital art so popular and then  we're going to say hey what powers the use   of digital art we're going to take a look at  how is this happening what's behind the scenes   right and then by understanding that we can then  zoom in on hey how do i mint and sell my own nfds   we'll talk about what is minting how do i  mint and what platforms can i sell on right   because this is intended to be a foundational  course let's take a look at nfds let's zoom in   on a lot of things that go into nfts and then  let's figure out how we can get into the market   and by doing that we can strengthen our  understanding strengthen our position and really   start to gain more in-depth interest into the  industry and jump start our adventure into nfds let's jump right into it now you're asking  yourself okay what is a non-fungible token   you know you're kind of looking like huh well  we're coming to this course to kind of better   understand that and so let's jump straight into  a definition right an nft stands for non-fungible   token now what is the meaning of this what  does this actually mean well it is proof of   ownership of an asset okay proof of ownership of  an asset what type of asset well any asset really   doesn't really matter right now we're looking  at assets that are predominantly digital right   but in theory it could be any asset at all an  nft is just a token that says hey i have proof   of ownership of this asset okay non-fungible what  does that stand for okay so we know that the token   is the unique part you know it says hey this is  the ownership but why is it called basically a   non-fungible token well non-fungible refers to  the fact that it is unique and cannot be replaced   interesting okay so the non-fungible  part refers to the fact that the asset or   thing or whatever it is is unique and cannot be  replaced okay wait what mo what did you just say   huh the asset cannot be replaced well let's  look at some examples last video we ended on   the question of what is a non-fungible  asset right because a non-fungible token   is supposed to represent the uniqueness of a  non-fungible asset it's supposed to represent   the ownership of that non-fungible asset okay so  we landed on what does fungibility actually mean   right and so it's best explained through examples  if we look at asset examples and these asset   examples aren't necessarily fungible non-fungible  solely in a digital space we're looking at it   holistically if we were to look at a fungible  asset we would be talking about cash bitcoin   because one dollar is equal to one dollar right  when we exchange one dollar for one another   the value stays equal and the same is true for  bitcoin okay so i hear you saying like mo but   like okay one dollar is one dollar is one dollar  right and one bitcoin is one bitcoin so if i have   this bitcoin or that bitcoin it doesn't really  matter okay got it so that's fungibility yes   if the asset itself can be exchanged in likeness  in value it is fungible now there are gray areas   here and we'll get into those later on but  then let's take a look at non-fungible assets   and i took some time to jot down a couple of  examples here one can be watches right another   could be plane tickets and yet another could be  stamps okay let's zoom in a bit more and let's see   why these are defined as non-fungible but let's  go back to this real quick if we look at cash   you know and we're looking at trading a dollar  for a dollar a dollar for a dollar is in likeness   because a dollar's value remains a dollar  irregardless of the serial code that's printed   on it you know where it was produced a dollar is  a dollar you go to a store you pay with a dollar   a person will accept a dollar therefore it is a  fungible asset the exact same is true for bitcoin   it is a fungible asset now that's weird right well  no it's a digital currency it's still a currency   therefore it has all the hallmarks of a fungible  asset now to date we aren't really using it   as much as a currency right like you can't walk  into your local mom-and-pop shop and you know   spend the bitcoin and like they accept it there  are certain companies that accept transactions   for bitcoins like tesla but it doesn't have  mainstream adoption as a currency yet so   currently in the tax code often  it's looked at as an asset class   so there's weirdness here but one bitcoin is  equal to one other bitcoin irregardless of its   serial code here right doesn't matter if you  had the first bitcoin never mind or the last   bitcoin of our mind the value of one bitcoin  is equal to the value of another bitcoin so then we get into the non-fungible territory  right and we get into this area where we're like   well what is what like why is a watch non-fungible  well if you look at it right on the left you can   see a gold very pretty watch here on the right  you can see a very bland watch now if we assigned   an asset class to this like for instance this  one was a rolex and this one was just you know   a regular casio well there's immediately  a value difference in the money you paid   but right you buy a casio off the shelf for a  hundred dollars you're not going to go to someone   and exchange that in likeness for another casio  because the watch itself has devalued it hasn't   retained value it's devalued because you've  worn it you've it's not a collector's guide   so you can't say that you can go trade ocasio  for a rolex because a rolex you know if we look   at rolex itself it usually appreciates it goes up  in value regardless of if you wore it depending on   the type you had and whether or not you did  something to it and the serial codes here matter   if you have a rolex that was made 50 years  ago let's say you had a rolex daytona   and then you had a rolex daytona that was made  in 2021 the values are not alike they're both   daytonas don't get me wrong they're both daytonas  right they're the exact same model so why is one   worth more than the other because there's  an intrinsic value that we as a community   give to it which makes it non-fungible i can't  just go and say hey you give me your new dayton   i'm gonna give you my old daytona it's not a  fair trade it's not like a dollar for a dollar   no no no not at all and the same is true for  stamps or plane tickets right have you ever   met a stamp collector well a stamp made in  the 1960s is not equal to a stamp made today   and the same is true for a plane ticket if we got  a business class plane ticket the aisle versus the   window seat they can't be traded in like because  at the end of the day it's the person himself who   determines like oh i'd rather have aisles so i'm  rather willing to pay more for it right so there's   nuances here that determine non-fungibleness  and the same is true actually for cash right   because just like stamp collecting you could  do coin collecting and i remember when the   euro came out back in the 2000s people were  collecting coins like crazy because certain   emblems were custom printed on it in limited runs  and therefore the value of a two euro although   if you went to spend it in the store would be  accepted as two euro within the trading community   the value of that two euro coin could be way more  than the actual face value of the coin and that's   what determines non-fungibleness it's what are  we willing to give to it as a value and is it   unique to us or not right so let's get into some  of the characteristics here the key traits well   for something to be non-fungible it has to be  unique so you know like rolex in a limited run   like the coins in a limited run needs to be  irreplaceable right the first daytona ever made   is always going to be worth more than  the second daytona rolex ever made   non-interchangeable swapping them doesn't  equate an equal value and that is the key   trait of something that's not fungible okay  so we know what makes something non-fungible   but then we go back to the coin example fungible  versus non-fungible because cash was fungible but   then i talked to you about coins the value of an  item and its use determines whether it's fungible   or non-fungible outside of the traits right  so the value we assign to it also has to be   tied into it it's not just the key traits like we  could assign all of these key traits to a bitcoin   right the first bitcoin ever printed has a serial  code it's unique it's this that the other but also   it's the value we assigned to it that's why a  coin collected in 2000's that was a euro at face   value is 2 euro but in the collective space can  be worth way more and that's what makes fungible   versus non-fungible so difficult to distinguish  and that's where nfds come in right when we're   talking about these non-fungible items the token  represents the ownership of that non-fungible item   in modern days like if we go back to our example  right when you buy a rolex what's your form of   ownership like what determines all of this right  why do we need non-fungible tokens that why we   need to look a bit deeper into now that we know  what nfts are right and what the difference is   between a fungible and a non-fungible asset  we inevitably have to ask our question why   why do we need nfts to do anything at all what is  the purpose of us saying okay well we know what a   fungible asset is we know what a non-fungible  asset is but why do we need these tokens   to define ownership right and you know at the  end of the day that's a great question so let's   talk about purpose right let's talk about purpose  in a digital world in a digital world ownership   was never clearly defined what do i mean by this  never clearly defined well honestly like when i   bought something i knew i was the owner of it yeah  you knew but was it public did you have the sole   rights to that item is it traceable right all  of those things just like owning a watch i know   that's my watch i know that i bought that watch  and therefore that is my watch right yeah but like   what actually makes it your watch is it tracked in  a database somewhere does rolex keep a database of   the serial number against the person who bought  it maybe they do maybe they do and that will   define ownership right the serial codes often do  the fine ownership but only if they're tracked   against the purchaser okay so in a digital  world do we get serial codes on things well   think of a time where you bought a domain name a  game skin a ticket right just purchasing online   in general makes all the difference in the  world because you know you're purchasing a   domain name is very traceable right like i can is  tracking this person bought it and we have who is   guard so there is a database tracking who is the  rightful owner of the domain name can i resell it   not really well i can resell my domain but  there's no real mechanism for it it's more so a   transferability aspect and then someone you know  pays me for it there's no real online mechanism   that really warrants that in an easy to use way  think of a game skin have you ever played fortnite   although you buy that skin you know  it's linked to your account therefore   there is a form of ownership right a certain  form but can i go and resell it on ebay can   i take that skin and you know turn a profit  it's quite difficult no i inevitably asked the   question do you actually own it and ownership  means that you can freely resell the good   you own right it does mean that right like if i  own something like if i buy a watch i have the   physical good i go to a store i say hey how much  and they give me money and i give them the watch   if i buy a game skin online on fortnite or  whatever other game you may play doesn't have   to be fortnite but any game at all it's really  difficult to resell it like i can't just go and   put a price tag on it now there were certain games  in the past that allowed this ability of reselling   skins right there was the cs go stuff that went  on and there have been ways of doing this right   but all of those ways were kind of proprietary  like they weren't unified think of it like this   a marketplace to sell these digital things was  usually built custom to the asset that was being   sold so there was no unified way to track  ownership of any digital good whatsoever it   doesn't matter what it is and that exactly is what  nfts are trying to solve the right to ownership   the right to resell and they're enabling that  through different mechanisms and those mechanisms   we'll talk about but the why of nfds the why  is the ownership part the ownership being very   strict and through that ownership enabling ways  to clearly define that resellability because   when we ask ourselves what's my proof today  is it an email is it like a thread is it the   serial number yeah maybe maybe it's all of those  things but is it publicly traced no is it clear   no and all of those questions all those problems  are what nft as a technology is trying to solve   now if we take nft as a technology right just  the raw technology like the concept of an nft   the token that represents the non-fungible item  that is the why that's the ownership part and then   through that through that concept we get into  all right how do i enable that and that's when   we enter blockchain a decentralized ledger right  blockchain technology again a technology that   enables other concepts other technologies to  build upon it and that's what we'll zoom in on   but what i want to end on is that the why of  non-fungible tokens is for that proof of ownership   and through that proof of ownership having that  token being able to say i own this asset and   being able to enable marketplaces tradability  resellability all of those things we can do   that now because the concept is there a generic  concept not a proprietary concept where call of   duty has its own marketplace and fortnite has its  own marketplace that means every company needs to   build their own proprietary system nfds enable  a generic system that everyone can build upon   it doesn't matter what company leverage  the generic blockchain technology   and enable resellability without needing to  build all of these systems in a closed off way   now we ask ourselves the question how do nfds work  right we've answered the question what are they   we've answered the question what's fungibility  versus non-fungibility and we've answered the   question why do we need them but how would nfts  operate in reality right because it's a concept   it's a protocol of sorts right it's not really a  physical representation of anything the concept is   the concept nft is a concept a non-fungible token  but now we have to get to well how would people   implement that and so we get over to the  blockchain right the blockchain powers nfts   the blockchain technology is the backbone that we  are going to implement nft's on as a society okay   that is the blockchain and so when you ask  what is the blockchain there's a lot of things   that the blockchain is and a lot of things  that it provides but at the end of the day   blockchain is a type of decentralized storage  think of a database that is sharded into a million   little blocks and copied across multiple different  systems and everyone keeps a ledger of that data   blockchain is type of decentralized storage  and is again in itself a concept kind of like   nfts and it's down to the actual implementation  to determine okay this technology as a concept   what do we do with it how do we build  it and from that we got ethereum we got   bitcoin we get all of these other different  coins with different tokenomics that are all   built on the same backbone that is blockchain  but don't get it twisted just because all these   different technologies are built on the blockchain  doesn't mean that they all have the same value   right that's why bitcoin has different economics  than ethereum bitcoin you have to mine every token   and there's a finite amount ethereum is kind  of like the oil of the blockchain industry   you burn it in order to get things done  right and by burning it you spend energy so   blockchain itself is the decentralized  storage portion with a bit more on top   of it and a bit more nuance but the technology of  blockchain is that decentralized storage portion   and so then you ask yourself well what are we  getting out of the blockchain right and so that   itself is we are getting interoperability trade  ability immutability liquidity and programmability   those are the things that we want to get out of  the blockchain for nfts specifically if we want   to have non-fungible tokens if we want to have  ownership of assets on the blockchain right if we   want to have true non-fungible tokens ownership of  a good on the blockchain we need interoperability   trade-ability immutability liquidity and  programmability let's zoom in on those   let's zoom into interoperability  interoperability is the ability to exchange   the nft across ecosystems right so if you buy  an nft non-fungible token which could be a deed   for a house could be a digital art could be  anything if you buy it on the ethereum network   shouldn't you be able to sell it and send it in  some way shape or form to the bitcoin network   now this is like long-term thinking right but  like an nft as a concept is just the token   the blockchain technologies should be able to  accept that token wrap it in some way hold that   information because it's just data at the end of  the day right we just need to be able to accept   and understand the data that is inside the nft on  different chains in order to store that data but   it depends on how they program that ecosystem how  they program that blockchain what the blocks can   hold right and so true interoperability is like a  long-term vision right but interoperability could   also mean other things like the ability to hold it  in different wallets the ability to hold the nft   or like buy it on different marketplaces  understanding and keeping that in mind   the next thing we would need is immutability right  nft should be undevisable or indivisible rather   and should be unique so there could be copies of  an nft right there you could have a hundred like   digital artworks that are the same exact artwork  but they're not divisible like you can't split one   and two you also can't have a direct copy of one  the first one minted versus the last one minted   it could be a different serial number and  that could add to its unique value they're not   unique in the sense that they can't be the same  thing but they're not the exact same data right   so immutable means the blockchain records the  data in a way that makes it hard to change   okay so blockchain already has this as a concept  built into the decentralized storage mechanism so   we're getting that out of the  blockchain technology great   when we go further for an nft ecosystem for  true ownership we need tradability we need the   ability to trade freely on open market places and  we're getting closer and closer to this right so   tradability is like being able to put it on  ebay right and then sell it or put it on for   like swap or trade and with digital assets  we need that concept to be baked into the   ecosystem but we're trying to build a holistic  ecosystem the game fortnight or the game cs go   they want their own marketplace and we're going  to put interoperability and tradeability well you   don't have a true interoperability because you're  not going to take a skin from cs go and play it in   fortnite and we don't have true tradeability  because you're not going to swap a skin from   fortnite for anything in the cs go if we get to  true nft space where we could have digital assets   that are completely unique and then every one of  these ecosystems these games hook into it right   then they could take a digital asset they could  create a tradability mechanism where they would   evaluate the value of a skin when you put in the  skin from a different game and you want to trade   it for csgo coin if they ever made it and then you  could actually swap your skin for currency in that   game and you could continue and then you have true  value retention of your digital assets to give you   an example right i spent over a thousand euro on  league of legends throughout my 10 years playing   all of those skins i don't know in a single  one i can't trade them for value anywhere else   i don't actually even technically own them  if i don't use my account i don't really   retain the value of that digital asset right it's  just there it's just money that i put in there but   if we get to true tradability space where league  of legends opts to turn its coin mechanism you can   purchase coins in the game into a true token  and then built on the blockchain and then   builds against multiple nft contracts the  ability to trade right and then puts the   skins in league of legends as an nft then i could  potentially trade my skins on an open marketplace   with other people and i have some unique  skins some things you can't get right   and the value of those skins right is next to  zero because well they're kind of locked away   right i don't have that tradability aspect so  very important things to think about here when we   zoom in then we have liquidity transfer nfts into  tokens for liquidity just like i talked about when   you know tradability is swapping one nft for  another nft of rather equal value or that's just   the concept of trading this liquidity is the same  but trading it into liquidity right which could be   another token right if i wanted if i owned nft  like my skin and i wanted to liquidate it like   in the real world you go to a pawn shop and you'll  be like here take this and they'd give you cash   in return well what if i wanted ethereum  or bitcoin for my thing there could be   marketplaces where they would buy it off of you  and you could transfer it into liquidity right   you could sell your skins instead of having to  trade them for equal value for other people right   and could you trade them for equal value well the  trade would be up to the two people trading to   be like i'll take this league of legends skin for  the cs go skin or whatever the case would be with   the tradability concept and liquidity concept you  need to put a dollar value to the nft and it needs   to be able to be purchased whether that could be  selling on a marketplace or that could be selling   to the marketplace where they have a system to buy  it off you right liquidity is just transferring   into token ethereum bitcoin cash usdt whatever  it may be okay and then the final thing for nfds   to truly exist in the form that they need  to be ownership of a digital asset we need   programmability and what does programmability mean  well we need the ability to embed code in the nft   to make it smarter if it's just raw  data right if it's just raw data   great we can hold the catalog of what the thing  is but now if it can contain code right if it can   contain actual things that can be executed now we  can make it much much smarter right we could have   it execute certain things at certain times of  the year to yield something right whether it be   dividend in a stock right that's quarterly thing  that happens so the programmability aspect makes   it possible for you to embed things into the nft  that make it a bit smarter than just flat data ethereum powers nfts now that we know how the  blockchain fits into all of this now that we   know what nfds are why we need them how they  work now we need to look at the real world   implementations of this right and that's  where we're looking at ethereum because   ethereum is where the majority of nfts live today  now there are other solutions out there for nfts   but we're going to focus on the mainstay here  now inevitably you'll have the question maybe if   you're not familiar what is ethereum and we could  make an entire course on ethereum itself right the   token that is counter to bitcoin right now the way  that i put it is if bitcoin is the gold standard   and by gold standard i mean like gold right  like the equivalent of gold in the real world   of the cryptocurrency market ethereum is more  like the oil or the coal we need to burn it   in order to do stuff so what does that mean well  ethereum powers a lot of different things and is   a lot of different things it's instantly send and  receive money it's financial freedom you can build   decentralized apps on it you can do peer-to-peer  stuff there's the ability to build marketplaces on   top of it ethereum is able to power what people  want as a standard as long as you're willing to   burn ethereum to accomplish something right so as  long as you're willing to burn the token as a gas   they have a whole network and  development guy that can teach you   how to do a ton of different stuff but the  part we need to zoom in on the part we need   to zoom in on about ethereum so that we can  better understand how nfts are implemented   is that ethereum is a programmable blockchain  a programmable blockchain what is that   what does that mean well put in simple terms it  means that ethereum has a concept right because   it is a blockchain it's a technology that's  running somewhere in a decentralized way ethereum   allows you to take code that you wrote right code  and it allows you to deploy it on the ethereum   network on the blockchain and execute it now that  doesn't mean you can write any code possible in   the whole wide world or deploy like really really  complex apps no no they have standards with which   you can write and deploy code on ethereum right  they control what type of code is allowed to be   executed on the ethereum network because otherwise  people could exploit vulnerabilities put security   loopholes right they could deploy like bugs up  there they really control what type of code can   be executed on the ethereum network and there's  contracts to which you know you must adhere   to deploy your app to the ethereum network  but in basic terms you can take code   and you can put it on ethereum and that  code will execute now everything on ethereum   is an address is a wallet of sorts  and you can interact with that wallet   okay so ethereum is a coin ethereum needs  to be burned in order to do transactions   you're allowed to deploy code onto  ethereum to do things okay understood   so what does that mean for nfts mo we understand  that you can take code you can deploy it on   ethereum well for nfts this basically means  that ethereum has a way for you to define   encode the specifics of ownership right the  things that we talked about and because of that   we use ethereum to power nfts and nf  and ethereum has built nft standards   into the blockchain technology that they've built  to ensure that there's one interface for defining   what an nft looks like and for  that we need smart contracts before we dive into smart contracts  let's have a short recap in that short   recap i just want to high level refresh you on  everything we've discussed so far because it's   all very high level right we've spoken  about nfts and how nfts the non-funchable   token aspect are the concept of ownership of this  non-fungible asset right and ownership is defined   by the ability to transact liquidity  transferability in divisibility like it's unique   that's powered by blockchain technology so we  said okay we have this nft thing it's concept   this concept can be powered by blockchain  because blockchain is inherently immutable   it's decentralized data storage sweet so now we're  getting to the crux of the implementation detail   right we're getting to ethereum ethereum powers  nfts how does ethereum power nfds well ethereum   is a blockchain technology ethereum enables you to  deploy code onto the ethereum network ethereum is   much more than just a simple coin that appreciates  some value no it allows you to freely transact   they've built all these standards on top of it it  is a vast fast ecosystem and like i said before   there's a lot you could learn just about  ethereum you could have a whole course on it   because it's so vast we're trying to single  in on what aspect of ethereum helps us achieve   nfts well there's this concept in ethereum  called smart contracts smart contracts are   no more than pieces of code that you deploy  onto ethereum and then by deploying them onto   ethereum they now become their own entity so to  speak okay so let's dive a bit deeper into that   what is a smart contract on the ethereum network  and ethereum is powering the majority of this   concept of a smart contract there are other  networks trying to achieve similar things again   a smart contract is a type of ethereum account  okay okay so in the concept you know we know of   block chain with bitcoin and ethereum everyone  holds a wallet right everyone has this wallet   and it can hold coins well a smart contract is no  more than a wallet itself right it can hold things   but users can interact with it okay users can  interact with a smart contract so it's an account   it can hold things users can interact with it  think of it like a vending machine you give it   money it gives you something back all right but  smart contracts well they can define rules and   enforce them via code so when you interact with it  it can have a rule set you can only get something   from me if you adhere to the rules that i have  pre-programmed in my code it would be the same   concept as a human telling you i'll give you  this if you give me this much ethereum but it's   automated now there's no more transactability a  smart contract basically enforces the moment you   give it something it's going to give you something  back because it is the account itself it holds   it holds the actual value itself so it is more  than just a bit of code that runs on ethereum   it can be its own entity and with that comes  drawbacks right like what you program in the smart   contract and what you put on the ethereum network  well you don't want to put bugs in that now do you   but in essence these smart contracts allow us to  enforce and create these transactable events right   and a smart contract being just the concept of  the code that can be on the ethereum blockchain   that can be transactable that is where the power  lies and so understanding what a smart contract   is makes us able to look a bit closer at well how  would we program these smart contracts to hold   digital art right and that's what we're getting  at here is what do i need to do for an nft in the   form of digital art on a smart contract to deploy  to the ethereum network and we're starting to come   full circle here and so let's look a bit closer  at what type of smart contracts are necessary   for nfds in this course we're not going to go deep  into all of the defining qualities of the smart   contracts that you could use on ethereum we're  going to be using a marketplace to mint and sell   our nfts to simplify the process but it would not  be smart for us to not quickly look at hey what   are the standards that are used for nft minting  now that we know that smart contracts these   pieces of code that run on ethereum are what power  nfts and so i quickly wanted to touch on erc721   it is the first standard for nfts on ethereum  so it's the first type of like smart contract   or standard of smart contract rather that was  used for nfds on ethereum think of it like a   smart contract template it basically outlines  all of the rules that need to be followed for   nfts on ethereum as a smart contract now  you can extend upon this you can even   change it but it is viewed as a standard because  when you follow the standard you know what   you're getting right if people build upon the  standard then there is trust and through trust   you know that your ownership is secured so this  type of smart contract well it creates and keeps   track of ownership of the nfts that it has created  so when you transact with the smart contract that   was based on 721 you know that certain principles  have been followed to ensure that your ownership   of what you're purchasing against that smart  contract because remember a smart contract is   nothing more than a wallet so when you interact  with it you are giving it money and it is giving   you well money or rather ethereum and it is  giving you something in return and that's   something in return that it is giving you it is  tracking your ownership on that smart contract   of the non-fungible asset and this is where  digital art kind of comes in now does it need   to be digital art not necessarily it could track  your ownership against something else as well   but in the concept of digital art we're  tracking the ownership of digital right so   basically the smart contract when you interact  with it you give it ethereum right to the wallet   and it in the code will do things to either mint  or generate an nft in this case the most valuable   use case is digital art and that transaction  is secure because we know that this contract   builds certain standards into the smart contract  there are certain pieces of code that are by   default in the smart contract that give you trust  now we'll be linking the resources to erc 721 so   you can go read the specification if you want or  some high level documentation around it but the   reason that we wanted to touch on these smart  contract standards is because at the end of the   day anyone can build any smart contract right it's  just code it's just code that goes on ethereum   but through standardization like 721 we now ensure  that we have trust because people are following a   public standard that is open and that you can view  otherwise there could be any type of code in that   smart contract right so there's there's a certain  validity that comes with implementing against that   template the next standard you need to know about  and maybe the final standard is erc-1155 it was   coined the final standard for nfts on ethereum  now it's a bold statement but basically there was   this team the engine team and they built this new  smart contract standard for nfts on ethereum and   basically you can think of it as an enhancement  of erc721 or a superset of the template that was   erc721 now why is it a superset of erc721 well  first of all it's cheaper because you can hold   asset classes it no longer tracks singular  ownership on erc721 you interact with the contract   and it tracked ownership of each individual  piece what this meant was that if you had nfts   on an erc 721 contract let's say you owned five  assets if you wanted to transfer those assets   you would have to transfer those assets one by one  right and so doing that one by one you're paying   fees on each individual transaction in erc 1155  you can hold asset classes so if you if you buy   10 nfts of you know let's say you buy 10  digital art pieces from the same project   now in erc-1155 you can hold all of those 10  together and you can sell them together you can   transfer them together so there's it's cheaper you  don't have to pay as many gas fees going back and   forth because you can sell them in bulk there's a  lot of enhancements but it's a super set because   you can also create an erc721 asset inside of  a smart contract that is erc-1155 now this is   a complicated mechanism for saying that they're  complementary basically they're complementary   they're not competition erc721 can't support  erc 1155 but erc 1155 the smart contract type   can support assets of this type and so with  that what you need to know here is that this   is the current standard this is where it started  this is where it's going and by knowing that you   can deep dive a bit deeper into all of the aspects  that go into it now we'll be linking the docs   to the standard erc-1155 so you can read a bit  deeper about it but at the end of the day this   is what most marketplaces are running on right  now and how asset classes are kind of divvied up   right we we want things to be cheaper faster  smarter because ethereum can cost a lot of money   when you're paying these gas fees to transfer  things and erc721 did a lot of good things but the   enhancements that come from 1155 far outweigh the  benefits of 721 and that's where the trickiness   lies but basically this is the smart contract type  that is now powering the majority of transactions   around nfts on ethereum and that's what we  need to know here that is the crux of it all   you may have found yourself asking throughout  this course what are the uses for nfds   and what exactly is the long-term vision for nfts  right this is this non-fungible asset business   like where are we going right now we're in a  renaissance period right we're very early on and   digital art is king right we're doing all of this  digital art business online which is great because   it's giving all of these artists an outlet and a  medium in order to make money but it's it's just   the start right it's it's the first implementation  of this nft business is digital artwork digital   ownership right it's a stepping stone for more  complicated technologies to eventually come in   and utilize the similar technology for different  use cases and we don't even know what use cases   may arise this is one of the simplest use cases  that has had a great benefit for individuals lives   but if we look beyond the veil of today toward  the future and think about hey this technology   what can it be utilized for outside of this well  you know we think about fashion wearables clothing   maybe we link an nft to them to have ownership  we all know that nike has a patent out for an   nft to combat gray market selling by embedding  nfts into the shoes and tracing the ownership   right and therefore you kind of know that  fashion is a potential avenue for this   but other than fashion maybe collateral against  the loan you know these non-fungible assets it's   very similar to a concept of a pawn shop where  you go in you trade in your non-fungible asset   and you get money in return and you can pay back  that money to get back your non-fungible asset but   do this digitally right you have a loan somewhere  you need quick liquidity use an nft as that quick   liquidity against that loan that's that's a  financial concept there's a lot of financial   concepts out there that we could use nfts for like  tons and tons and tons this is just one of them   maybe in gaming right we've touched upon this  many times throughout the course you buy a   lot of digital assets and games but you need that  liquidity transfer ability and all of those other   hallmarks in order to be like well if i'm going to  invest in these game skins why don't i get benefit   out of it so that's just another avenue that may  potentially spawn use cases for nfts and it's not   to say that all of these nft use cases are going  to be on ethereum right ethereum right now is   where it's at but for true interoperability  maybe we'll reach a point where we can   go across blockchains and wrap these assets these  non-fungible assets but the protocols and the   communication mechanisms for that have yet to be  defined and are very much in their infancy stage   then we go look at something more  business oriented like the supply chain   right let's say you buy an item from a different  country well you could theoretically track   the entire process of that asset through nfts  from having a token from where it was created   when it was shipped where it arrived and you could  follow the entire journey of the supply chain   through the blockchain in this way now these are  all concepts that nfts could be leveraged for in   some way or another because the tokens grant  uniqueness right and that uniqueness allows us   to say hey the registration of this event so using  it like an event driven system to be able to track   a journey of something all of these use cases all  to say that the space is extremely interesting and   there's a lot a lot a lot of things you can  do with technology and although digital art   is where we're at right now and a lot of people  are skeptical the long-term strategic vision for   a technology like this is infinite and therefore  we should look at it less with a skeptic eye and   more with an open mind to be able to figure out  hey maybe maybe i want to invest in some of these   technologies potentially long term or maybe i just  want to follow along and see right or maybe you   work in a company where this may be interesting  just keeping an open mind is very important when   looking at these new technologies because even  though you may be skeptical about the initial   use cases the long-term use cases may be valid  and valuable for you and that is important so   now that we've gone through the entire journey of  the what the how the why and everything in between   now let's step into how do we actually mint  so create an nft and sell it on a marketplace   let's dive into that we've reached the final  stretch how do we sell and distribute an nft here   you see openc a website to discover collect and  sell extraordinary nfts it's one of the largest   nft marketplaces available and to simplify  the processed entry without needing to build   your own smart contract deploy your own code  learn how to code and all of that in between   we're going to use openc to create our own nft  but you will need an ethereum wallet to use openc   and so like we said ethereum is powering a lot of  the nft market nfts are in huge demand and openc   is a marketplace that builds on top of ethereum  to make it easy for you to sell distribute and   even buy your own nfts now we're going to go  specifically through how to open your own wallet   and sell on openc let's get started to open an  openc account we need an ethereum wallet and an   ethereum wallet is just a wallet that you can open  on any of these providers metamask coinbase wallet   connect 4matic now we're going to use metamask as  the standard here but you can connect any wallet   you already have now if we go to metamask we see  that you can install it on chrome ios and android   we're in chrome right now so we're  gonna download and install it in chrome   install metamask for chrome it takes us to the  metamask chrome web store website and what we'll   do here is we'll press add to chrome add the  extension and by adding the extension we've now   added metamask to chrome so that we can have  our wallet inside of our chrome browser and as   you can see they put this funny animation here  now it says welcome to metamask connecting you   to the ethereum and the centralized web we're  happy to see you and now that we've installed   metamask let's go through the setup so to set up  metamask let's press this get started button and   then it'll say are you new to metamask if you're  not you can put in your secret recovery phrase or   if you are new well let's get set up let's create  a wallet it's going to ask you if you want to   help improve metamask gather usage data for now  i'm going to press no thanks and we're going to   have to fill in a password so choose any password  that's a minimum of 8 characters and has at least   a number and a special character and by doing  that what we'll do is we'll be able to create   a metamask account we'll select i have read  and i agree to the terms and we'll press create   by creating the password now it's going to show  us a short informational video about the secret   recovery phrase i recommend that each and every  one of you watch this video into its completion   but let's go over it what is the secret recovery  phrase your secret recovery phrase is a 12 word   phrase that is your master key to your wallet  in your funds it's extremely important that you   keep this it's not the password we just filled  in this is a separate thing it's the master key   always keep it always store it and i'm changing  my tone because it's extremely extremely important   how do i save my recovery phrase well you can save  it in a password manager in a bank fault in a safe   deposit box write it down store it in multiple  places should i share it never ever share it now   the reason that this is so important to store  and don't take it lightly because often we just   whatever if you lose this and you lose access  to your account you can never ever ever recover   any part of your account that's a scary thought  but it is the truth people have lost millions   and millions and millions in bitcoin that are lost  in the ether forever because they have forgotten   their secret recovery phrase take it seriously  watch the video and then we'll come back to this   hopefully you've all watched the video and you  now understand the importance of the secret phrase   and what it entails now keep in mind  the account that i'm creating here is   not the account that i will be using for  any of my information right so this wallet   it's going to be empty don't even try to access  it because it's not going to have anything in it   but if we go to next it's going to show you your  secret recovery phrase ensure that you click the   link here to download your secret recovery phrase  into a file then what you'll do is you'll click   here in order to reveal your secret words so when  we click reveal here it'll reveal the words and   then we can go to the next step and in the next  step now we have to select the words in the right   order and once we select the words in the right  order we can confirm and then we've created our   account so to do this you just select the words  and once you've reached 12th word you can confirm   and then if you've selected them in the right  order right then it should work out in your   favor right you should be able to confirm  right now you can see i can't confirm because   it's not in the correct order therefore i need  to ensure that i select them in the correct order   and that's what i'm going to do now  i recommend that you all do the same   and then once you've selected them in the  right order you can click the confirm button   once you have selected them in the right order  and press the confirm button you will be greeted   with the congratulation page you've passed the  test and your security phrase is safe and it's   your responsibility so keep that file safe and  it gives you more tips for storing it safely   please make sure to read through all of this  and keep it safe we are not responsible for   anything you do wrong in this case you are  responsible for your secret recovery phrase   and that is that so then you press all done and  now you have a fully viable meta mask account   with ethereum in it and now we can connect that  to openc so let's look at what that looks like   now after you're done setting up your wallet and  you've installed metamask what i have found is   that you often need to restart chrome in order  for it to be fully compatible with everything   so restart chrome and then keep the password that  you filled in when you created your account not   the secret phrase but the password you filled in  because you'll need to fill it in again to log in   now once you restart chrome and you go back to  openc we can now press the connect your wallet   button and then we can press meta mask and then  by pressing meta mask it will open up this popup   where we need to fill in our password to unlock  metamask and then i can say hey connect openc to   metamask select the account you want to connect  so we'll select the account we just created you   can create multiple wallets in metamask but it  creates one by default and we'll connect that   one and then it'll ask you connect account with  this address allow to view addresses permitted   accounts we press connect and now our wallet  is connected to openc our complete usd wallet   and so now that we have our wallet connected we  can actually go to our account our profile and   we can see that our metamask account  is here awesome so now we can start   playing around with what we can do  on openc so let's dive into that   now that our account is set up maybe we'll tinker  around with the settings a bit so let's go over   here let's click this little settings icon and oop  another pop-up came up and it's saying signature   request welcome to openc click sign to sign  in no password needed this does not trigger   a blockchain transaction or cost any gas fees  your authentication will be reset after 24 hours   so let's sign that and now we can actually go into  our profile settings and set up a complete account   for our wallet that's amazing so here you can  fill out your username your bio so you know as   a username we can fill in ztm bio we'll fill  in the bio a bit later and then for your email   address you should fill in the email that you want  to use i'll be using crypto at zero2mastery.io   and so you can fill in other parts of your  wallet you can even put up a profile image a   profile banner and then you can save your account  as is and now it'll tell you verify your email   address to link it to your openc account and so  that's what you should do go to your email go look   for the openc email and verify the account after  taking some time to make my profile and verify it   by email i took some time to set up the profile  page and this is the official zero to mastery   openc page where we will be distributing  ztm specific nfts if you were interested   and here is also where we will be distributing the  very first nft that ctm will ever launch as part   of this course the very very first one the very  first nft ever that ztm will make will be made   in this course isn't that exciting so and we'll  be showing you how we go through that process   awesome so let's get started over here in  the settings panel right we're going to open   that up seems like there's a small bug here so  let's go back to openc and then let's click it   and then let's say account my collections  right and then let's say create create and   manage collections of unique nfts to share and  sell and then we'll create the collection and   as part of the collection we need to have a  logo image so that logo image is going to be   this image we'll open that up and then featured  image this image will be used for featuring your   collection on the home page category collections  promotions etc and so for that you know you select   a different image and we're going to go  with the basic ctm branding if anything   which will be our branding image for  both the site wide and the regular image   like the banner and the featured image and then  we'll say what's the name of our collection   well we'll call it origin and that will  be the origin of ztm's openc collection oh   that name is already taken so we'll call it zero  to mastery and you have to find a collection name   that's actually available for you right you  can also customize the url if you wanted to so   we'll do zero to mastery as a url and we'll do our  standard learn to code get hired as a description right what category are we art trading  cards collectibles sports utility well   i'll put us an art you can select a maximum of  one category that's very important to note here   and then there are certain links that you could  fill out here for your collection royalties   that can be paid out collect the fee when a user  resells your item this is deducted from the final   sales price and paid out on a monthly basis and we  can fill out percentage and then we can say what   are the payment tokens that we accept right do we  accept ethereum or polygon we're going to stick   to ethereum and you can fill out the percentage  of royalties you want to get for your collection   based on what you think is  fair then display a theme   we'll do contained covered padded these are how  your nfts will be displayed in your collection   explicit or sensitive content right and so some of  this is very important uh if you need to set your   collection as explicit content you toggle this  toggle over here so we're gonna go with covered uh   we do not have explicit content and then you can  go and create a collection and that's how it goes   oh also don't forget if you fill in a royalty you  have to fill in the address that it needs to go to   and so once we hit create over here you  can see the zero to mastery collection   currently there are no items in the collection  and we'll be minting the very first item   right here right now now that we have a collection  and we have it all set up with everything that   we need right we have our own personal profile  the ztm profile we now have a collection on the   marketplace the collection on the marketplace  isn't the nfts yet it's just openc's way of   pooling together all of the items that you want  under what you would call a project so your art   pieces you can put in different collections if you  wanted to make specific collections for specific   things so now let's go ahead and add an item over  here you can see the create a new item form this   is where openc allows us to actually upload our  image or video or mp3 whatever the case may be   and so what we're going to upload is our very  first nft the ztm biker and we're going to call   him the ztm biker so here you can see the uploaded  you can do jpeg png gif svg mp3 all of the above   and if you have a project externally right  if you have a bigger project where you have   a website with all the information around  the art you're trying to make you can link   the specific item with extra information so  that they can go view your project now over   here you can fill in the description here we'll  fill in the very first ztm nft the ztm biker   and then we'll add it to the collection zero to  mastery because that's the only collection we have   and here you can see that you can add properties  to it right you could have properties like   character age all that stuff so what we're gonna  do is we'll give it a character but we're gonna   call the character number one because it's the  very first nft you can give it levels you can give   it stats you could even give it unlockable content  unlockable content being a specific access key and   email something to contact someone or a specific  item code that you could redeem for something   and who knows maybe we'll put something in here  so that's where you can put unlockable content   next to that you can mark it as explicit  content just in case it's not for young   people and you can determine on what blockchain  so openc supports ethereum and polygon polygon   is a gas free blockchain experience that  works with ethereum so you can determine   on which chain you basically want to sell it  and then once you hit create you create it   but once you hit create it actually goes  through the process of creating your nft on   the openc platform now at that point it hasn't  been distributed to the marketplace just yet   it just says you created the ztm biker now  that we've completed the creation of our   nft it is time for us to get ready to sell it  and over here on the overview page of our asset   we can see that we have an edit and a cell button  where we can edit the nft and we can list it   to sell and so when we go to the sale page  right where we're going to put it up for sale   we have the option between putting it up for a  fixed price or putting it up for an auction and   putting it up for an auction just says that you  put in a starting price and then over seven days   you can bid and so we're gonna do it for a  fixed price and we're gonna select 0.19 ethereum   which is 800 once we hit complete listing we are  going to get prompted to initialize our wallet   and over here you can see that the  gas fees are estimated to be 0.05 eth right and so with that we're spending 259  dollars to initialize our wallet so this is the   very very first time we're selling on openc  and because it's the very first time that   we are selling on openc we need to initialize  our wallet we need to get set up for the first   time in order to be able to sell on openc as  an account you only do this once the very first   time that you list something and then it's good  to go so we'll hit confirm here and then once   we confirm it should be able to go through so  make sure that you have ethereum in your wallet and then we'll go to ether scan and over  here you can see that the transaction   has not yet been processed so once the transaction  has been processed that's when it will go through   so there's one transaction i

2022-01-15 23:33

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