1. What are NFTs?
"NFT" stands for Non-Fungible Token and is a "unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable" -- therefore "non-fungible." An NFT can be used to represent something like a photo, a video, an audio, or really any other type of digital files. Think of an NFT as a certificate of ownership of a specific digital artefact. If you own the NFT of say an audio, it means that you own full rights of that specific audio file (not its content, but that speific digital print that you created or bought). Should that specific audio be worth something in the market, then you would be owning something of value.
2. What does it mean to have an Audio NFT?
Simply this: you creat an audio and then you create an NFT for it and now you officially own than specific audio file that you created.
3. Why should I get into audio NFTs?
Say ou create a one minute audio of yourself saying something about yourself. You can then create an NFT on the blockchain that ties that exact audio to that chain token and assigns it a certificate. You can then say create a landing page and offer that NFT to anyone who wishes to purchase it. Say, you offer to sell that NFT for $10 and someone offers you $10 and buys that NFT from you.You get actual money and the person who gave you the $10 now owns that NFT. Should you become extremely famous one day, for example, your buyer could easily set up a page of their own and offer that same NFT for $10,000. They may get buyers,or they may not. The idea is simply that they now own something that is unique and that someone else may be intersted in buying.
4. How hard is it to create an Audio NFT?
It's not easy if you want to do it on your own. But with Witlingo, it's very easy. You login, record or upload an audio, and with one click, create and download your NFT.
If you would like to chat about how you would like to use a Witlingo Audio station, please drop us a line below.
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