Blockchain, Web 3.0, Opensea & NFT; Oh My!

Blockchain, Web 3.0, Opensea & NFT; Oh My!

Hello everyone! In this blog, I will be expressing what I have learned about Blockchain and Web 3.0. My initial thoughts on using Opensea for NFTs and possible ideas for my first NFT that I will create.  I will also provide how ChatGPT assisted in my learning as well as YouTube resources to help me understand all this new information not previously known.

Blockchain is a technology that keeps records of information in a secure and transparent way. It uses a decentralized system, which means it's not controlled by one person or company. Every time a transaction is made, it is recorded in a "block" along with a unique signature. These blocks are added to a growing list, creating a chain of information.

The benefits of using blockchain include:

-Secure: No one person or company is in charge, making it less vulnerable to hacking or other malicious activities.

-Transparent: All transactions made on the blockchain can be seen by anyone, making it easy to track and verify the information.

-Unchangeable: Once information is added to the blockchain, it is almost impossible to change, ensuring its integrity.

-Safe: Blockchain uses special code to protect transactions and keep information secure.

-Traceable: Blockchain makes it easier to find out where products come from, helping build trust in supply chain management.

-Efficient: Transactions made on the blockchain are processed faster and cost less than traditional methods.

In summary, blockchain provides a secure and efficient way to make purchases, share information, and solve problems, making it more profitable and productive for businesses and individuals.

Web 3.0 is a new version of the internet that wants to make things smarter and better connected. Instead of relying on one big company to run things, Web 3.0 uses lots of different computers working together. This makes it safer and more private. Web 3.0 will use artificial intelligence to give people a more personalized experience, and it will be easier to use. People will have more control over their own information and can make money from it. This new version of the internet is also made to encourage new ideas and technology to be created. Web 3.0 will make the internet better for everyone by making it more secure, personal, and helpful.

Benefits of using Web 3.0

-Decentralization: Web 3.0 operates on a decentralized network, enabling users to control their data and privacy without relying on intermediaries.

-Interoperability: Web 3.0 will allow for seamless communication between different systems, platforms, and applications, creating a more interconnected online experience.

-Personalization: Web 3.0 will use advanced artificial intelligence and machine learning technologies to provide users with personalized experiences based on their preferences and habits.

-Increased Security: With decentralized networks, users have greater control over their data and privacy, reducing the risk of hacking and other security threats.

Overall, Web 3.0 represents a major shift in the way we use and experience the internet, with the goal of creating a more intelligent, secure, and personalized online experience with the assistance of AI.  

Opensea, the largest NFT marketplace - 9 February 2023 - Watch Video

Opensea is a decentralized marketplace for buying, selling, and discovering unique digital assets such as non-fungible tokens (NFTs). These assets can include collectibles, virtual real estate, digital art, and more. Opensea operates on the Ethereum blockchain, which allows for secure and transparent transactions without the need for intermediaries. The marketplace is designed to provide a seamless buying and selling experience for digital assets and to help grow the NFT ecosystem. With Opensea, users can own, showcase, and sell their digital assets with confidence, knowing that the ownership and authenticity of their assets are verified by the Ethereum blockchain.

I am choosing to use Opensea as it provided the most resources for learning how to create, sell, and perform functions in Opensea in their resource tab.  I found a lot of their videos very informative.  I recommend, that if you are using Opensea, take some time to review all the videos available.

Opensea provided to be the most user-friendly experience for me as I looked up each NFT trade website. During my research of NFTs and Opensea, I viewed 4 videos on YouTube and learned that I must create the actual NFT in another platform and create variations or unique characteristics that make it even more special.  

For my NFT idea, I plan to use a picture format NFT of my dog Rony. Rony recently passed away in late 2022 and was my daughter's fur baby.  She misses him so much still, and I am certain, that if I am able to create an NFT that looks like Rony, she will absolutely love it and cherish it.  As I created my account and chose coin base wallet, I was prompted to create my first NFT. I do have a picture of one of my dogs Sally (all-white German shepherd) as I initially thought that this is where I would personalize it. However, now that I have learned a little more, I know I will have to create it in another software.

My Initial Thoughts and Feelings: 

I had a lot of anxiety initially as I have never learned or really been introduced to cryptocurrency, and I am not much of a person that purchases items online.  So, I am still weary. I did have somewhat of a level of satisfaction during my initial learning of all these new technologies as I tend to think this is way over my head, or I am in the wrong generation and my creativity is not all there. I am building some excitement for this project as I continue to learn more, and finally, get to create my first NFT and perform a transaction using a form of cryptocurrency.

I am very happy to use ChatGPT for all my initial reading of all these new technologies as it provided consistent information found on the web. Once I was able to gather my information from ChatGPT I was able to understand it even more with the assistance of multiple YouTube videos.  ChatGPT, as instructed, is an amazing tool and I am very excited to use it, however, it also allows me to be lazy and perhaps read articles or other sources of learning.  The majority of the content in this blog is from ChatGPT. I did re-write some of the content in Blockchain, and Web 3.0

ChatGPT Prompts: 

How does Blockchain work?

Why was Blockchain developed?

Define and list the values and benefits of using Blockchain.

How does Web 3.0 work?

Define and list the values and benefits of using Web.3.0?

Why was Web 3.0 developed?

What is Opensea?

In closing, this week I created an account in Opensea. I familiarized myself with blockchain and NFTs. I discovered that Opensea is a create, sell, and trade platform for NFTs, however not a true platform for the creation of an NFT in a more animated format. I plan to use Open Sea to create my NFT and throughout the next blog, I will be sharing my progress and experience in creating a dog-like NFT in memory of Rony, my black German shepherd.  Have great rest of your week!

Ryan