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Frequently Asked Questions:

What are NFTs?

Do you have an ID? Have you ever gone to a concert and kept the ticket? Do you have a high school certificate? Those are NFTs!

Well, kind of. Non-Fungible Tokens are a type of digital asset that's stored in the blockchain, forever! It serves as proof of ownership of something unique.

Fungible vs Non-fungible

NFTs are new for a couple of things, the fact that they are registered in the blockchain and that everyone can see it in a public way. But, non-fungible items have been a thing for a long, long time.

Fungible

We are counting on you not losing all your money in crypto and owning a smartphone. You love your smartphone, and you feel is unique and irreplaceable. That ain't true homie. Unless you have a really unique phone, it is likely a lot of people own the same phone. And if there was to be an exchange of the same phone, one could have more value for small details like fewer scratches. If the phones were of the same quality they would have the same value and would be interchangeable. Let's go for an even easier example, a dollar bill. A dollar will always have the same value compared to other dollars, making it non-unique.

TL;DR: a fungible item is one that can be changed for an identical value item, a dollar is a good example.

Non-Fungible

A dollar bill is fungible, they have the same value as other dollar bills and that makes them changeable for an identical item (another dollar). Now, let's same that dollar (we know it's fungible) gets signed by Elon Musk. Uh, that sounds kind of unique, is that dollar special? It is! It would be so unique that it would, it's now classified as non-fungible.

Are you confused? Let me make it clearer for you. Non-fungible items are unique (or pretty rare). A birth certificate is non-fungible because only one person can have it (ideally) and its value is not quantifiable. The same happens with collectible items, such as swords, baseball cards, art, and enemy heads. Those items are rare, and their value is something not easy to quantify.

Wrapping it up

So you know what an NFT is, let's go with one last definition according to Google/ChatGPT. NFTs, or non-fungible tokens, are unique digital assets that are stored on a blockchain. Each NFT has a distinct digital signature, which makes it one-of-a-kind and impossible to replicate. NFTs can be used to represent any type of digital content, such as images, videos, music, and even tweets. They have become increasingly popular in the art world, where they are used to sell digital artwork. The ownership of an NFT is recorded on a public blockchain, making it easy to verify and transfer ownership. NFTs have the potential to revolutionize the way we think about ownership and value in the digital age. So no, NFTs are not only monkey JPGs…

https://media.giphy.com/media/RucVqT1cnqnFqoFzaD/giphy.gif

Is NFT a good career choice?

OF COURSE, NFT IS A GOOD CAREER. Or not, it might be a terrible career. It's up to you to decide if it's worth trying. We love you tho, though we are going to show you the good and the bad about working with NFTs.

The Good

Early Industry: yes, NFTs are babies. Crackhead babies can be super expensive. The earlier you get into a fast-expanding niche the more potential for innovating and impact you have. You can be the next Tesla! Hopefully without dying poor and forgotten...

High demand (sometimes): NFTs have become popular these last few years. While not famous for the best reasons the newfound popularity of NFTs has opened the doors for innovation. With innovation comes a high demand for talented individuals with various backgrounds. Find NFT jobs here!

Diverse roles: NFTs include all sorts of positions you can think of. Artists, developers, marketers, influencers you name it! Diversity in roles equals opportunities.

Creative freedom: You might not like it but BAYC is creative! You only make millions of dollars with monkey images by smoking a lot of substances. There are many projects out there, while some might seem uninspired (pretty much any Logan Paul project) Some have crazy innovative concepts behind them, like POAPs!

Money: we know why you are here. And yes there is a lot of money to be made in the NFT industry (we are referring to the legal way). You don't believe us?! Take a look for yourself.

The Bad

NFTs also have a dark side. We hope you can sleep after this spooky list we prepared for you.

Market Volatility: Remember when we said high demand? Yeah, it's not always like that. NFTs are volatile assets, usually backed by other volatile assets, when Crypto goes south so do NFTs. During those harsh times, the job market can be a bit less active and have fewer opportunities than the bear market.

Lack of regulation: The biggest problem you'll find on this list. The lack of regulations can mean that one random day your country will ban NFTs, a scary thing for anyone working in the space. Also, the lack of regulations gives an opening for bad actors to scam and deceive. Legit workers have found themselves in unpleasant positions working for scammers.

Technical Complexity: Getting into NFTs is not as easy as getting into gaming or even stocks. There are too many layers making it unattractive for a lot of mainstream people. This can limit the number of opportunities in the working field.

Lack of mainstream adoption: Let's be honest, in the mainstream NFTs are most renowned for being multi-million dollar scams. That is what most media outlets like to report about Web3 as a whole, damaging the image of the tech. More opportunities will emerge the longer NFTs are around. Meanwhile, the constant slander will cost work opportunities.

Despite these potential challenges, many people are still drawn to the NFT industry for its potential for creativity, innovation, and financial opportunity. Ultimately, whether working in the NFT industry is a good choice depends on you!

What skills and experience are required to work in an NFT company?

Some people hear about NFTs and think "wow, monkey JPEGs", yet there is a lot of skill behind them! These are some skills you will likely need to work in the NFT industry.

1. Technical skills: NFTs are more technical and complex, they are not only images but have complex tech behind them. Some of the technical roles in the NFT industry are smart contract engineers, and front-end and back-end developers.

2. Marketing and business skills: every product needs marketing, and NFTs are no exceptions. In fact, the most known NFT projects basically relied on pure marketing! We are looking at your Bored Ape Yacht Club.

3. Industry Knowledge: it never hurts to know what is happening in the blockchain industry. Like in every industry, knowing the latest trends can always help your decision-making.

4. Creativity: coming up with multi-million JPEGs is no easy task, you need a lot of creative power. Thinking outside the box is a must! Also, remember art is just one of the many use cases for NFTs.

5. Passion: the bedroom is not the only place it needs space. Also, NFTs have so many applications that only people with a passion for the tech will develop.

What are the different career paths in the NFT industry?

  • NFT Artist: NFTs are mostly focused on art nowadays. So, that creates a demand for artists! All sorts and all styles. The other great news, NFTs actually pay artists.
  • NFT Developer: NFT has a lot of applications thanks to the tech behind them. Skilled developers that are familiar with blockchain and smart contracts are often hired to do the heavy lifting.
  • NFT Marketer: the success of NFT projects often relies on marketing (mostly art projects). It needs a lot of marketing A LOT! And good projects don't only rely on greedy influencers, they also need skilled marketers.
  • NFT Operations Manager: all big companies need someone who can manage the budget tight enough so you can have a killer breakfast with the remaining budget! NFT operation managers take care of the day-to-day operations.
  • NFT Consultant: even tho they jump from project to project more on freelance bases, consultants can often lead to the success of a project. Consultants advise and guide NFT projects.
  • NFT Analyst: similar to cryptocurrency, NFTs are tradable and have value. This is an opening for trades to analyze trends, markets, and opportunities.

How much can NFT Workers Make?

Enough! That is the answer you are probably looking for. NFT workers can make lots of money. You don't have to take our word for it. Let us show you some NFT salaries.

  • NFT Developer: $80,000 - $200,000+
  • NFT Designer: $60,000 - $150,000+
  • NFT Marketer: $50,000 - $120,000+
  • NFT Project Manager: $70,000 - $150,000+
  • NFT Legal Counsel: $100,000 - $250,000+

You can take a closer look here.

Brief History of NFTs

The interest generated by the game was so monumental that one CryptoKitty once sold for $140,000 in 2018. This was featured in many media outlets, including the New York Times. Now you may be asking about what made CryptoKitty so valuable. Isn’t it just another form of digital art that could easily be reproduced by copy-pasting it?

Designing CryptoKitties has become one of the most lucrative NFT Jobs

The answer lies in the utility of Ethereum Smart Contracts on a Blockchain. Unlike other pieces of digital art, Ethereum’s ERC-721 standard guarantees the uniqueness of any item. Each ERC-721 token is unique. This makes each a collectible item similar to a 1909-1911 Honus Wagner baseball card or a 2003-2004 Lebron James card. But rather than having professional human ‘Graders’ to set the value for the collectible, NFTs are an automated and secure way to guarantee that they are.

Now the uniqueness and novelty of NFTs don’t end there. Imagine proving ownership of a tile of virtual land. The concept of owning digital real estate was popularized by the game Second Life. But Second Life was hosted on a centralized server. It was managed by a company of humans that operate within an organization that’s governed by human laws. A security breach in its infrastructure could wipe out records within a manner of minutes. If the company closes, the virtual real estate hosted by the company on a server could also disappear. Players who invested a lot of time and money have no choice but to accept their loss. This is where an immutable, decentralized, and censorship-resistant blockchain comes in.

Virtual games, collectibles, virtual real estate, in-game items, customized player skins, and player upgrades are only the tip of the iceberg. The economic value proposition of NFTs becomes more pronounced once you include the physical representation of real-world assets in the blockchain. Take, for example, land registration. Land registries are commonly hosted on a centralized server. This is problematic for the same reason that centralized virtual assets could have. Once the server is breached or compromised by a trusted third party (such as a disgruntled employee), the records for these physical land titles could be expunged or even fraudulently changed. The immutability of the blockchain solves this. Its decentralized nature adds strength to this problem as well. This is what makes blockchain technology truly universal in nature. It goes beyond government overreach; it is resistant to malicious attempts and requires a huge amount of resources to compromise.

NFTs are a part of the paradigm that seeks to bring Web3 to its maximum potential. Web3 will be the proverbial opening of the ‘flood gates’ that will usher in a new era in the Age of the Internet. It maximizes value transfer and the flow of information to bring the full potential of the Internet truly. If Bitcoin is the digital gold or cryptocurrency of the Internet, Ethereum’s NFTs could be its future land registry, collectible or secure digital loot box, and more. Just imagine a future where real estate agents would also be looking for an NFT career!

There are many NFT jobs out there waiting for you

NFT careers would generally focus on implementing ERC-721 smart contract protocols depending on the crypto startup’s objective and a lot of NFT Jobs are Remote. But there are also other roles as the space continues to grow. NFT jobs’ remote nature could range from: knowledge of React.js, full-stack development, Solidity, business development, copywriting, marketing and blockchain engineering. Anything that has a distinct and unique value, whether in the real world or in the virtual space, could theoretically be included in the space.

Yes! You can get NFT Jobs even if you are not a Blockchain Engineer

It’s a common misconception that positions related to NFT careers are inherently technical. This is not true. All disciplines and backgrounds have a role to fill as companies are looking to expand. Whether your background is in copywriting, graphic design, marketing, accounting, finance, or even legal, the space embraces diversity wholeheartedly.

Here are some of the NFT Jobs that are available:

  • NFT Artist Jobs
  • NFT Designer
  • NFT Developer
  • NFT Consultant
  • NFT Marketing Jobs

NFT companies to watch out for

No less than billionaire Mark Cuban stated in a CNBC interview that if he were to engage in a new business venture, he’d go for NFTs, blockchain and smart contracts.

True enough, the Shark Tank host would have a run for his money because of these startups that have already laid claim to certain segments of the rare collectible market.

  1. SuperRare.co - This NFT focused company showcases rare masterpieces of art - on the blockchain. superrare jobs
  2. Rarible.com - prides itself as the “first community owned NFT marketplace”. Members are enjoined to create, sell or collect rare digital items. Rarible jobs
  3. Mintable.app - this portal allows artists to create and turn any creation into a blockchain secured asset.

Other startups in the space are carving their own niches and, most importantly, building their own communities. The viability of NFT jobs remote aspect allows for a truly global community. These include CryptoPunks, Digital Currency Group’s Decentraland, and OpenSea.

Community building is essential as the NFT space grows. Each role to be fulfilled has a purpose in the overall schema. For as long as any item of value can be digitized and secured through NFTs, there would be an intrepid entrepreneur who can turn this idea into a startup. This creates value, remote NFT jobs and, more importantly, community. Every day is a new opportunity to turn that idea into a company.

If you're interested in knowing about NFT Graphic Designer Salary or NFT Developer Salary, head on to our Salaries Page to know more.

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