YouTuber Kwebbelkop starts platform for NFTs: ‘In love with this technique’

An NFT, a ‘non-fungible token’, is a digital certificate of authenticity for digital objects. The non-fungible code is secured by blockchain technology. NFTs have been on the rise since early 2021. Millions have already been paid for NFTs of digital artwork.

Since last year, international platforms for selling NFTs have grown rapidly, including OpenSea, Nifty and SuperRare. There are also all kinds of lucrative NFT collections, including those from CryptoPunks and Bored Ape Yacht Club. Buyers of these images also often post them as profile pictures, as a sort of online status symbol.

Jordi van den Bussche, known on the Internet as Kwebbelkop and with 15 million subscribers one of the biggest Dutch YouTubers, is one of the founders of the new platform LaunchMyNFT, which aims to make the generation of NFTs easier. Several major crypto companies, including Binance Labs and eToro, have invested nearly $2 million in the platform, the startup announced today.

Easier to create

Creating NFTs, also called ‘mints’, is still often too complex for many artists and other creatives, says Van den Bussche. “When I got into NFTs last year, I found out that you need a lot of technical knowledge. And that it requires a lot of time and money if you want to make large collections of NFTs. I wanted to build a website that would make this more accessible. So no more uploading files one by one.”

For example, LaunchMyNFT makes it possible to ‘mint’ ten thousand NFTs at once. The NFTs can then also be sold on other marketplaces. Users can, for example, take a picture of a doll and then drag different hats or shirts into the browser, after which the service generates all combinations of the virtual objects.

Millions of users

The service has been in testing since the end of November, and since then 1 million NFTs have been created by more than 220,000 users, says the famous YouTuber. The goal of the startup is to have 1 million users by the end of this year. The service charges a 2.5 percent commission on the sale of NFTs. “But you can also offer them for free if you want,” says Van den Bussche.

The NFT market as a bubble?

In online auctions, NFTs sometimes fetch millions of dollars. For example, the first message on Twitter was auctioned off by founder Jack Dorsey for $2.9 million, although the message is easy to copy or retweet. The market for NFTs was worth 36 billion euros last year, according to Chainalysis, approaching the size of the market for physical art or antiques.

Because of the huge amounts paid for images and other files that can be copied endlessly, some critics call NFTs a bubble. Kwebbelkop disagrees: “That’s what people said years ago about bitcoin and cryptocurrencies. I fell in love with NFT technology and what it can do last year. It can help creative people get noticed, build a community, and it can even create new jobs. You can also use NFTs as more than just using them as a status symbol. For example, it can be cool to use a digital item you bought in different games.”

Several well-known Dutch artists are already active on LaunchMyNFT, including Tim de Vries, Lino and Fez. In addition to the platform, LaunchMyNFT also launched its own cryptocurrency, $MYNFT, which provides buyers with all kinds of extras and bonus features. Several well-known YouTubers, including Hanwe Chang, Royalistiq and Victor Mids, have also invested money in the platform via these tokens, according to Kwebbelkop.

Tech giants to support NFTs

Big tech companies also seem to be embracing NFTs in the near future. For example, the crypto exchange Coinbase is developing its own NFT marketplace together with Mastercard, and Samsung presented the first television that can display NFTs.

In addition, Instagram, Facebook and Twitter are working on new ways to support NFTs for their users.

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