#003 — How to be successful with NFTs on Bitclout
An exclusive interview with the Krassenstein brothers
@Krassenstein: « Don’t be afraid to fail. Trial and error will be what drives your success. This is uncharted territory so we are all learning from the get-go.”
Can you please introduce yourselves briefly to our readers who don’t know you?
We share an account. We are 30-something year old twin brothers from Ft Myers, Florida, who have been in the crypto space for 9 years.
Have you ever had any NFT experience before Bitclout?
We’ve minted a few NFTs before with an artist in San Diego. We minted them on Rarible and OpenSea. It was a bit technical and cost a lot of money in Ethereum gas fees.
What kind of NFTs will you be interested in?
I like rare art which is produced by artists who I feel will make a name for themselves over the long run. Art that I can relate to is important.
Have you already been thinking of any creators you would like to buy NFTs from?
Yes! I think there are a number of creators on BitClout already, who are producing incredible art. I also feel NFTs on Bitclout will be a lot more than simply art.
What advice would you give to someone interested in investing for the first time in NFTs?
Buy something that appeals to you. If you like it then it’s likely others will as well.
In your opinion, what would be the best strategy in order to be a successful NFTs creator and/or collector?
Listen to the community, see what’s working for other people and don’t be afraid to fail. Trial and error will be what drives your success. This is uncharted territory so we are all learning from the get-go.
Do you plan to create some NFTs of your own? What would they be?
Yes, we have a Day One NFT dropping as soon as they launch omg BitClout, and then we have the “BitClout Kids” animated trading card series we will be launching shortly after that.
How to mint and sell your NFT, step by step
Well-known Russian photographer Elrick Erikose on Bitclout has agreed to describe the process of creating his first NFT of one of his photos and the selling of it.
Elrick Erikose: “It is very simple.
First go to one of the node that allow NFTs. I chose: tijn.club.
1. Select « Single » or « Multiple editions ». I chose « Single ».
2. Set a minimum bid.
3, Set the percentage for “Creator Royalty” and “Coin-Holder Royalty”. I just let the default 10%.
4. “Unlockable Content”: I didn’t use. I just left it unchecked.
5. Press “Mint NFT”.
That’s it!
Then you reclout to let people know that you have an NFT for sale.”
How went the sale?
Elrick Erikose: “When someone bids, it shows notifications, but only on that node.
You see the bids under your post , in “all bids tab”.
Then you choose winner and sell.
I sold to first bidder, as I wanted to check how it works. »
Elrick Erikose sold his first NFT to @Krassenstein. See screen capture beside.
QUESTIONS & ANSWERS
- What is « Multiple editions » ?
You can mint either a “one of a kind” or “one of N” NFT. In the latter case, there will be multiple winners of the same piece of content.
- What is the Creator Royalty?
It is a percentage that the creator of the NFT will earn each time his NFT is resold.
For example, if you set your Creator Royalty to 10%, and you sell your NFT for $100. If the person who bought your NFT resells it for $150, you will earn 10%, e.i. $15$. And you will earn money on each future resales of the NFT you created.
- What is the Coin-Holder Royalty?
The Cloin-Holder Royalty is the percentage that goes to the Holders of your coin.
Say you set both percentages to 10%, and I buy your NFT for $100, you’ll get $90 and everyone who owns your coin will get a part of the $10.
If I then sell your NFT for $200, I’ll get $160, you’ll get $20 and the holders of your coin with get to split the other $20.
I get nothing if the buyer sells it again, but you and your coin holders continue to get cash flow.
Explanation by @jeansergegagnon, famous Canadian marketing expert on Bitclout.
- What means « Unlockable content »?
Optionally, the creator can set a piece of unlockable content that only the winner of the NFT will get access to. This feature enables hyper-exclusive experiences to be built on BitClout NFTs, like one of a kind songs that only the winner can listen to.
- What happens when I bid?
Once an NFT is minted, you can bid on the NFT. You must have enough in your wallet to cover the bid, but nothing is withdrawn from your wallet until the auction is closed by the creator. This allows you to bid on as many things as you like.
- How is the winner of the auction selected?
Whenever the creator is ready, they can close the auction by selecting a winner, or winners in the case of a “one of N” NFT. Importantly, the creator has full control over who gets to own their work; they don’t have to give it to the highest bidder.
- What happens when the auction is over?
Once the auction is over, the winner(s) get to show off the NFT on their profile. It shows up in their NFTs tab, and it can be pinned to their main page.
- Can you send and receive an NFT made on bitclout? (question by @ourielohayon)
Answer by @100: Not yet.
THE HECTIC LIFE OF MR. CLOUTER
TO BE CONTINUED IN OUR NEXT ISSUE
We hope you liked this 3rd issue of @CloutZine.
Editor and drawings: @PhilippeMeunier
CloutZine is also published on Clouters.net
