Post something on social media and it automatically converts to a non-fungible token (NFT) and you can sell it to earn crypto money. The process of creating and selling NFT just got easier on a new social network called Woonkly. There are a lot of things Woonkly tries to do, calling itself a âdecentralized NFT-based social networkâ.
How does it really work? You will approach this like a typical social network. This is before the add-ons of the crypto universe came into the picture. Post a photo, video, audio file, or piece of art, just like you would on the social networks you’ve always known (Instagram, looking at you). Once you do, Woonkly will convert the post to an NFT or non-fungible token, which establishes your proof of ownership and the ability to attach a value to that token in case someone wants to buy it from you.
This is where things get a bit tricky. To go beyond the simple social media experience (that’s why you’re on Woonkly, isn’t it?), You’ll need to link it to a cryptocurrency wallet called Metamask. This is the only option currently available. Once that’s set up, you’ll be using Ethereum (ETH), Binance Coin (BNB), Avalance (AVX) cryptocurrency or even the social network’s own WOOP or Woonkly Power tokens. There is a suggestion that Solana, another crypto coin, will be in the mix soon.
Also read: Can and should you make NFTs from artwork, collectibles and tweets?
A market is already in place with art, music, books, sticker albums, photography and the metaverse as some of the categories. âWe had assimilated the concept of Marketplace, but until now there was no NFT social network in its purest concept. Therefore, we created the social network with the user in mind, so that anyone can create their own NFT in an instant and go viral without having almost any knowledge, âsaid Daniel Santos, CEO and Founder of Woonkly, in a statement.
Read also | Simple Guide to NFTs: Should You Worry About Valuable Tokens For Your Assets?
It is the Metaverse aspect that holds significant value in the future. This is something that Woonkly wants to build on. âOur vision is to gradually become the world repertoire between reality and the metaverse. Connect all content creators internationally with metaverse, a game to win games and users, âsays the company.
Woonkly won’t be the only social media network related to crypto and NFTs. Twitter has already put in place initiatives to integrate crypto and NFT on the platform, experiments that should become commonplace in 2022.