DNA Building, Denpasar - Bali

Want “Cuan” from NFT? Here’s What Beginners Must Prepare!

Bali as a world tourism area is supported by artistic and cultural developments. This is a very valuable world goal. Art and culture as a driving force for tourism in Bali have their own uniqueness. In contrast to other tourism destinations, Bali uses natural beauty as a support, not as a core attraction, the main attraction of Bali is art and culture which has been deeply rooted in every aspect of people’s lives.

The development of crypto assets during the Covid-19 Pandemic is growing very rapidly, one of which is non-fungible tokens or NFT.

NFT is one of the newest cryptocurrencies that is mainstream and attracts attention, not only in Bali, Indonesia, even the world, because a number of works of art in the form of NFT can sell for billions.

The founder of Kepeng.io I G P Rahman Desyanta briefly explained, NFT is an online certificate of ownership that can be traded, based on data units stored in digital ledgers that belong to blockchain technology.

“So Non-Fungible Token uses blockchain technology base, but it is different from bitcoin. If Bitcoin is like a coin, then NFT is a digital asset tied to a unique digital asset. That way, users can only own Non-Fungible Tokens via digital ownership records of physical assets. NFT You could say a certificate of ownership of an item. Most commonly, NFT is currently used to buy and sell digital artwork. What is bought here is the NFT, as a sign of ownership of a work of art,” said Anta

How to sell digital works with NFT?

Now a new breakthrough has been created in helping the community, especially Balinese artists, to secure and market the artworks that they have created easily and safely, namely the Baliola Marketplace. Anta explained that there are at least eight ways to be prepared if you want to get involved in NFT.

First, of course, the artist must prepare digital works for upload and sale. The work can be in all forms of digital assets such as photos, illustrations, paintings, dance works, videos, music, designs, philosophy, momentum, stories and so on. In Bali, the most popular digital works are in the field of art.

Second, the artists must register to become artists at Baliola, how do you do that?

To become an artist at baliola, the artists must create an account by visiting the baliola.com website. Then click the sign-up menu, then fill in your data according to your identity, email, username and password that you will use at Baliola. After creating an account and logging in as a user, then the artist will create his own page on Baliola. In this step, the artist will choose whether to join as an artist or as a community and complete the required data. If you have completed all of the above, the artist can check the textbox and click confirm, the account has been completed and you have registered as a creator in baliola. To enter the work of an artist’s account, you must first pass a validation process.

Third, if you have completed user and page creator registration, the page creator will be validated by the Baliola team. In the validation process, the Baliola validator team will carry out several validation stages. Several things that are taken into consideration whether or not the artist’s creator page passes are self-identity according to the identity card, all inputted data can be proven concretely through an identity card (KTP/Passport).

The validation process is declared passed if all the requirements and other supporting documents are complete such as a cellphone number that can be connected to WhatsApp and Telegram and can be contacted, the social media data is correct and there is correct portfolio data. 

If there are errors or omissions in the document, the Baliola team will contact the artist to complete the requirements. The validation process is done online and offline. Artists will go through an interview process to ensure that the data uploaded to Baliola by artists is correct.

During the interview validation process, the artist will be invited to come to the office located at Gedung Dharma Negara Alaya having the address at Mulawarman Street, No. 1 Denpasar. Or our validator team will visit the artist to the studio or contact the artist directly if the artist is having problems coming to our office.

Fourth, we have to register for the Nouvarium e-wallet, through the Nouvarium.com website. So if we want to sell our work in this marketplace (NFT), we must have a crypto e-wallet that will be used for us to store or collect and as a forum for accessing our work,” he said.

In the future, the e-wallet account will become the identity of the NFT user. If you usually enter Google using an email address, then when you enter the NFT marketplace Baliola can use that wallet address.

Fifth, the thing that must be prepared is to top up the e-wallet. The balance is used to pay a Gas Fee in the marketplace. For those who don’t know what a Gas Fee is, a Gas Fee is a fee that must be paid each time you sign a new contract in the NFT on the blockchain system. However, for now, there is no gas fee in Baliola until the end of 2021. For 2022, a gas fee will be charged for artists who submit their work in Baliola.

Sixth, submitting an artist’s work for NFT at Baliola, this process requires artist verification. Verification – is the process of checking that the work uploaded to Baliola is indeed the work of the relevant artist. This process is carried out by using online and offline check data for the works and artists concerned.

Seventh, After the verification process and the work, passes verification, the NFT is issued. Minting or posting/uploading NFT digital artwork into the blockchain system. Then listing or selling artwork at Baliola.

Eighth, promoting digital works both on social media Instagram, Facebook or in communities. “So NFT must be promoted, and if the artist already has a name or people already know about the artist, people will wait for our digital works,” he said.

Anta also advised that for beginners, it is very important to learn NFT and then position yourself as an artist (creator), investor, collector or trader (people who buy works and resell them). He suggested, for those who are interested or want to know about NFT can join the communities on Discord (Baliola), Telegram (Kepeng Indonesia Community) and Instagram (Baliola Marketplace).

My advice is to join the community and learn other people’s stories, where we can learn to be NFT artists and we can get a lot of support,” he concluded.

Leave a comment

You must be logged in to post a comment.