What are NFTs, and How Can You Make Money From Them?

You might have heard about the clipart Rock, a crypto collectible that’s been around since 2017, which recently sold for $1.3 million. It’s a pretty old NFT! So, why did a picture of a rock sell for so much money? Keep reading.

What does NFT mean? 

NFT stands for non-fungible token. 

Fungible means you can trade one for another one. A good example of this is Bitcoin or the dollar bill: trade one Bitcoin, or one dollar bill, and you can get another Bitcoin or dollar; they can be replaced.

Unlike Bitcoin, NFTs are non-fungible, meaning they are unique and cannot be replaced with another NFT. 

NFTs allow anything digital—like digital art, a domain name, or essay—to be traded on the blockchain.

Related blog post: What is the blockchain?

What prevents someone from copying an NFT, and why can’t NFTs be duplicated?

You may be wondering: “What prevents someone from taking a screenshot of NFT art? Couldn’t everyone have the NFT?” Well, not quite. Yes, everyone could have a replica of the NFT, but it won’t be the original artwork. It would be like printing a picture of a Monet painting from the internet – it is a replica of the original painting by Monet, but it won’t be the original.

In addition, NFT artists have copyright and reproduction rights, which gives the current owner a digital certificate of ownership that can be verified by the blockchain. 

What is NFT art?

Nudie Community NFT cat Elton John
Nudie Community NFT

Often, NFT art collections will feature one type of “character,” such as the cat above, with various characteristics, also known as attributes, such as background color background, eye shape, mouth shape, hats, accessories, etc. Because these attributes can be mixed and matched, NFT collections can have 10,000 different pieces of art, or more! 

You can think of trading NFTs like trading baseball cards. You can collect them. Different cards, or NFTs, have different rarities associated with them. 

Each NFT has its own rarity score, which is based on its attributes. The higher the score, the more rare the NFT is. Let’s say 1% of the NFTs in the collection have a green background, while 50% have a blue background. The green background will have a higher rarity score, and therefore be more valuable, than the blue background. 

What is an example of an NFT?

The Nudie Community created a digital art collection of 10,000 NFTs that feature hairless cats that are exploring the galaxy and helping evolve civilizations that they would find along the way. I love that this NFT team is all-female. It’s founded by LeSandre Morris, designed by Hayley Elsaesser, and developed by Katia Gilligan.

Nudie Community NFT of cat with bling
Nudie Community NFT Art

You might be thinking, “why cats?” Well, according to the Nudie Community website, “not only does the founder have three Sphynx of her own, but cats have played a prominent role throughout history. The coexistence of cats and humans dates back to the earliest human settlements. The ancient Egyptians believed cats were magical creatures that would bring blessings for their owners. They viewed them as divine protectors and treated them with such respect that statues, jewelry, and artwork were made in their honor. Cats were so special that those who killed them, even by accident, were sentenced to death.”

Learn more about the Nudie Community here.

How can you create 10,000 NFTs?

10,000 is a big number. Let’s break it down.

NFTs are often designed in layers using graphic editor software. First, the base layer is designed. The base layer for the Nudie Community is the cat. Multiple versions of the base layer can be created by changing elements, such as the color, texture, or pattern. Afterwards, attribute layers can be created. Similarly to the base layer, the attribute layers can have different versions, as well. For example, hat and clothing type, shape and color can be modified. 

You can then mix and match different base layers with attribute layers. If you have 10 base layer versions, 10 hat variations, 10 clothing variations and 10 background variations, you could create 10,000 different NFTs. 

Typically, this is not done manually, but rather by running a script that does the mixing and matching for you. Fancy and efficient!

Where do NFTs live? And how can you make an NFT?

Here are the basics of what you’ll need to create an NFT:

  1. Something digital to sell
  2. Digital wallet, like MetaMask or Fantom
  3. Blockchain platform, like Polygon or Ethereum
  4. Connection to an NFT marketplace, such as OpenSea, Rarible and Nifty Gateway, which is where NFTs live

Read next: What is the blockchain?

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How Physics Taught Me to do a Headstand in a Day

(and you can too!)

Athletic outfit sitting on yoga mat

Yoga mat by Mavela (use code EMILY10 for 10% off)
Outfit by Peachtails

Many of these links are affiliate links, which means I may get a commission if you purchase. However, none of the fees of these resources have been increased to compensate me. In fact, many of the creators have given me special discounts that I get to extend to you!

My freshman year of college, I started practicing yoga and have loved it ever since!

I’ve always wanted to learn how to do a headstand (a.k.a. shirshasana in yoga terms), and I finally taught myself how to do it. Well, I had a little help: physics!

The 3 physics concepts I used to learn how to do a headstand

Physics is all around us. It describes motion, energy, and… yoga!

Inverted Pendulum diagram illustrating center of mass is above pivot point in a headstand

Center of mass

the point in a body where all weight is evenly distributed. In humans, this point is by the belly button. 

For the center of mass to be truly in the center of my body, above my wrists, I had to keep my body rigid and straight. 

Pivot point

the position in which a body balances or turns. 

In headstands, your pivot point is your hands and head, since your body is balancing on them. 

Inverted pendulum

describes a body whose center of mass is above the pivot point. 

While doing a headstand, your belly button (center of mass) is above your hands and head (pivot point). 

Although my successful headstand attempt took a bunch of tries, it was so worth it!

I’m looking forward to incorporating this new yoga move in my routine, and I found there are awesome benefits of headstands.

Benefits of headstands

Possible benefits of headstands (according to healthline.com) include…

  • Calm mind
  • Reduce stress
  • Improve upper body, spine and core strength
  • Boost digestion
  • Prevent headache

Mavela Lunar Microfiber Suede Yoga Mat

Mavela white yoga mat with gold moon phases

Shop the look and use code EMILY10 at checkout to receive 10% off your cart at checkout.

Mavela’s owner comes from a background of corporate wellness and loves promoting mindfulness, meditation and yoga among stress provoking fields, as well as women empowerment!

Peachtails Copper Snakeskin Sports Bra and Leggings

Copper snakeskin sports bra and leggings by Peachtails

Shop the look

This clothing brand is redefining women empowerment, created by @jennelectric, a woman with a Bachelor’s in Chemical Engineering and minors in Physics and Nuclear Engineering, who is now studying electrical engineering.

What is Blockchain Technology, and How Does it Work?

Blockchain is one of those trendy tech buzzwords. But what even is Blockchain technology?

First, let’s look at an example of how blockchain is used in cryptocurrency, like Bitcoin:

Bitcoin Blockchain Example diagram

What is Blockchain?

Think of blockchain as a digital record keeper

…with multiple computers (each called a node) in a network verifying, approving and storing data at the same time.

Data is organized into groups, blocks, which can only hold a certain amount of data. So when one block can’t hold anymore data, a new block is added, forming a chain.

Chain of blocks = blockchain

Like having an encrypted name, each block is identified by a unique cryptographic “hash,” which is a math function that transforms data into an array (collection) of characters (numbers, letters and symbols). Each array must be the same size: for example, 2 rows by 3 columns.

The hash protects the block’s data, as well as its location in the chain by referencing the previous block and linking the two, making both the block’s data and location unchangeable.

What Industries Use Blockchain?

Blockchain applications can be found in many industries – not just banking and cryptocurrency.

1. Travel

Companies are using blockchain to find inaccuracies in booking data, and then alerting relevant hotels, travelers and agents about these discrepancies.

2. Medical

By using blockchain, patient medical records can be securely transferred, and the medicine supply chain can be better managed.

3. Food

Blockchain is used to ensure food safety, remove counterfeit foods, confirm food labels and improve overall supply management.

What are the Advantages of Blockchain?

1. Increased accuracy

Errors are reduced because multiple computers are verifying the data; if one computer makes a mistake, another computer will catch it.

2. Higher Security

Blockchain is almost impossible to hack because it’s so difficult to reverse the cryptographic hash to the original data. Even if a hash was reversed, the other computers in the network wouldn’t be able to validate the change.