There is no way to establish that a physical item is actually ours unless we write our names on it. We can currently verify and claim the ownership of digital assets on the blockchain thanks to NFT. Many people, including well-known figures like Elon Musk, the CEO of TESLA, and Jack Dorsey, the creator of Twitter, have been involved with the metaverse.
But, what is NFT? NFT stands for Non-Fungible Tokens that are created to exist in one place at a time to verify authenticity. In other words, it is to display ownership in the digital world using a set of special codes. Similar to Pokemon cards, or baseball card collections that have limited edition cards, it goes the same way for NFT – people want to own them.
The first thing to know to become an NFT developer in Malaysia is that you must know about the blockchain system and how it is the foundation of NFT. Apart from that, you must know that you can’t enter the NFT development domain easily with a random blockchain network, not all networks can handle NFT transactions. Also, NFT developers must be fluent in the language of Ethereum to gain an advantage over other competitors.
The Ethereum blockchain is commonly used for transactions in the NFT world. It is the second most used cryptocurrency and you can utilize the LUNO app to transfer your existing currency into the Ethereum blockchain. Featuring a huge developer community, the Ethereum blockchain’s developers provide service to the blockchain by giving quick bug fixes and regular feature updates. Apart from that, the blockchain also provides technical documents to the developers so there is a guide for them to build decentralized applications or smart contracts.
The importance of Ethereum
- Ethereum allows “peer-to-peer” trading which allows NFT holders to trade NFT without paying trading fees to the platform.
- Allows public verification of token metadata as well as transaction history. This also helps in easier verification of the ownership history of NFTs.
- It is impossible to steal due to how hard it is to manipulate data after confirming transactions on the blockchain.
- The blockchain is easy to access for sale and trading.
Skills for Ethereum
You must learn to comprehend fluency in cryptography. As a result, you will know how to create and support the verification of digital signatures of NFT.
Solidity programming is an essential language to master and require for blockchain and cryptocurrency experts.
ERC-721 Token Standard
As the foundation to create NFT, you must familiarize yourself with the ERC-721 token standard.