Project context and objective
As the fast growth of new digital technologies makes most of us feel we are behind on the understanding of what is going on in the virtual side of society, the actors and players involved do not seem to slow down. On the NFT market, money moves fast, and the economy keeps growing, a market that claims to be transparent, while generating controversies and being understood by just a few. WTF is an NFT gives an simple visual and written guide to understanding the complexity of this tech market.
The WTF is an NFT is a project designed to give an easy way to understand what NFts are and how they work, with the aim of giving a role to the potential actors left aside to question what is going on.
WTF is an NFT puts into the spotlight the ambiguity of ownership in the digital environment and draws on a set of visual explanations, breaking down the complexity of the subject for everyone.
The project was developed by Amanda Cestaro, Andrea Llamas, Leo Gamberini, Marina Fernández, Qi Yu, Regina Salviato and Renata Martínez, students of the Masters degree on Communication Design at Politecnico di Milano and coordinated by the Density Design Lab during the Final Synthesis Studio during the months of October, November and December of 2021.
The WTF is an NFT is a project designed to give an easy way to understand what NFts are and how they work, with the aim of giving a role to the potential actors left aside to question what is going on.
WTF is an NFT puts into the spotlight the ambiguity of ownership in the digital environment and draws on a set of visual explanations, breaking down the complexity of the subject for everyone.
The project was developed by Amanda Cestaro, Andrea Llamas, Leo Gamberini, Marina Fernández, Qi Yu, Regina Salviato and Renata Martínez, students of the Masters degree on Communication Design at Politecnico di Milano and coordinated by the Density Design Lab during the Final Synthesis Studio during the months of October, November and December of 2021.
Description of work performed
This project was developed in three parts. The first one consisted of unravelling what NFt’s were all about. Understanding deeply NFT’s, what they were, how they worked and everything that had to do with them. For this the main source of information were articles from the internet, more than 50 different articles were read.
The second part consisted in analysing NFTGO top solds, using this NFT data integrator, the tops sales from all time were collected. This showed us how the market was developing, who were involved and what NFT’s were being sold.
The third part of the project was dedicated towards the building of a website that visualizes the main explanations of what NFT’s are. The most important information was collected in the form of a visual guide comprising illustrations and images integrated into a narrative made to understand the topic in a very simple and fast way for the general public.
The process and tools used
Part 1: unraveling the topic
For this part of the project a deep research into articles from Google search, and videos from YouTube was done. More than 50 articles were read during the months of November and December 2021, and over 20 explanatory and tutorial videos were watched. You can check the links to the articles and videos of the research here.
From these articles the most important information and key points were subtracted to give an easier understanding of the NFT world.
Key points:
For this part of the project a deep research into articles from Google search, and videos from YouTube was done. More than 50 articles were read during the months of November and December 2021, and over 20 explanatory and tutorial videos were watched. You can check the links to the articles and videos of the research here.
From these articles the most important information and key points were subtracted to give an easier understanding of the NFT world.
Key points:
After gathering this information, 3 main questions emerged: who is involved, what is being sold and which are the aesthetics of these digital assets. This led us to the second part of the research.
Part 2: Analyzing the NFT unraveling the topic
Platforms
To develop this stage NFTGO, a NFT data integration platform, was used to collect the data, along with OpenSea, an open NFT market platform.
Why NFTGO? Even though there are more than one NFT data integration platforms out there, for the purpose of this research, NFTGO was chosen, this choice was done because in other aggregators it was not possible to see the top sales of all the categories and collections together, and rather were divided into “top sold per collection”, that is why NFTGO worked best for the means of this research.
Data collection
The data collected was the top 100 sold of all time in NFTGO until November 2021, and the top 25 from each category of NFT (the categories were defined by NFTGO).
The data that is on NFTGO’s ranking was gathered for each NFT into a spreadsheet (ranking, name, collection, first price, highest price, and last deal) then complemented by searching for the NFT on OpenSea. (creator, buyer and seller).
Platforms
To develop this stage NFTGO, a NFT data integration platform, was used to collect the data, along with OpenSea, an open NFT market platform.
Why NFTGO? Even though there are more than one NFT data integration platforms out there, for the purpose of this research, NFTGO was chosen, this choice was done because in other aggregators it was not possible to see the top sales of all the categories and collections together, and rather were divided into “top sold per collection”, that is why NFTGO worked best for the means of this research.
Data collection
The data collected was the top 100 sold of all time in NFTGO until November 2021, and the top 25 from each category of NFT (the categories were defined by NFTGO).
The data that is on NFTGO’s ranking was gathered for each NFT into a spreadsheet (ranking, name, collection, first price, highest price, and last deal) then complemented by searching for the NFT on OpenSea. (creator, buyer and seller).
