Post a photo, video, audio file or a piece of art, as you would on social networks you’ve known all along and once you do, Woonkly will convert the post into an NFT, or a non-fungible token
Post something on social media and it automatically gets converted to a non-fungible token (NFT) and you can sell it to earn some crypto money. The process of creating and selling NFTs has become this simple on a new social network called Woonkly. There’s a lot that Woonkly is attempting to do, calling itself a “decentralised Social Network based on NFTs”.
How does it really work? You will approach this as a typical social network. That’s before the crypto universe add-ons come into the picture. Post a photo, video, audio file or a piece of art, as you would on social networks you’ve known all along (Instagram, looking at you). Once you do, Woonkly will convert the post into 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 off you.
This is where things get a bit complicated. To go beyond the plain social media experience (which is why you’re on Woonkly, aren’t you?), you’ll need to link it with a cryptocurrency wallet called Metamask. That’s the only option available currently. Once this is set up, you will 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.
A marketplace is already in place with art, music, books, sticker album, photography and metaverse as some of the categories. “We had assimilated the concept of Marketplace, but until now there was no NFT social network in its purest concept. Therefore, we have created the social network with the user in mind, so that anyone can create their own NFT in an instant and make it viral without having almost any knowledge,” said Daniel Santos, the chief executive officer (CEO) and founder of Woonkly, in a statement.
It is the Metaverse aspect which holds significant value in the future. That’s something Woonkly wants to build on. “Our vision is to become the worldwide directory between reality and the metaverse gradually. Connecting all content creators internationally with metaverses, game to earn games and users,” says the company.
Woonkly will not be the only social media network tying in with crypto and NFTs. Twitter already has initiatives in place for integrating crypto and NFT on the platform, experiments which should become increasingly commonplace in 2022.