NFTs, non-fungible tokens, are the rave, especially if you are a crypto enthusiast. Most internet users are trying out NFTs due to their many benefits. Like most blockchain projects, it is pretty easy to implement compared to physical works.
NFTs are digital assets that can be exchanged or sold online, with proof of authenticity and ownership through the blockchain. The era of NFTs has made it easier for artists to own their work and decide on their royalties with lesser bureaucracies. Since its explosion, creators have engaged in multi-million dollar projects.
Earlier, we wrote about the basic understanding of NFTs and how they work. You can click this link to read further.
Based on several reliable sources, this article will teach you how to make an NFT. Here are some of the basic steps you need to put in mind when creating an NFT:
Step One: Pick a concept
First, you need to determine what you want to turn into an NFT. It has a unique digital asset. People have turned pictures, video games, memes, GIFs, music and custom painting into NFTs. You will have to be the sole owner of that item to qualify for an NFT. Also, you need to own the intellectual property rights to the item you want to turn into an NFT to avoid legal trouble. NFTs usually stem from an original idea converted into a digital asset.
Step Two: Decide on the platform and Choose your blockchain project
NFTs are an offspring of the blockchain. It would be best if you had a basic understanding of how the blockchain works to navigate its platforms. Contrary to popular beliefs, you don’t need advanced tech skills to mint NFTs. Several marketplaces make minting NFTs possible, namely OpenSea, Rarible, Objkt, and Holaplex. According to Surge’s co-founder, Denise Schaefer: “There’s a big misconception that you have to be technical to participate in crypto.” You can start by determining the blockchain project you want to use for your NFT. The most popular ones are Ethereum, Tezos, Cosmos and Polkadot.
Step Three: Set up your digital wallet
A digital wallet helps you fund your initial investment. Having an NFT wallet gives you access to your digital assets. The most popular wallets are Math Wallet, Trust Wallet, Metamask and AlphaWallet. After setting up a digital wallet, you will need to buy some crypto coins. Ethereum is very popular on NFT platforms. If you already have a digital wallet, you can connect it to the marketplace so that you can create and sell NFTs.
Step Four: Create your art and upload a file
When you are ready to create your art, you need to whip out your creativity and make unique work. Most NFT marketplaces provide a step-by-step guide for uploading a digital file to their platform. An easy process enables you to turn your digital file into a marketable NFT.
Guidelines to make your first NFT:
- Use materials and tools you already have.
- Invest in new technology or knowledge as needed.
- Find other creators and learn from each other.
- Consider the audience you think will like your work and keep them in mind as you create.
- Choose whether you want your NFTs to have visual, audio or written components – or all three.
- Pick a file type. OpenSea accepts JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB and GLTF.
- Think about the file size. OpenSea’s limit is 100 MB.
- Accessibility factor
Step Five: Mint and sell your NFT
After minting your NFT, it’s time to put your NFT for sale. In general terms, you need to:
- Set a fixed price: This enables people willing to meet your price to contact you and buy your NFT.
- Set an auction: Setting a timed auction will give interested buyers a time limit to submit their final bid. An absolute auction enables you to have control to end the auction whenever you want and entertain more offers.
Step Six: Connect and build a community
At this point, you need to make valuable connections. Twitter has proved a helpful platform for NFTs. You will want to tweet frequently, send, and respond to your direct messages. Discord and Slack are also good platforms for blockchain projects. Most crypto lovers and techies get valuable information and build critical relationships through these communication channels.
A valuable community is your one-stop marketing point for selling NFTs. Most NFTs are sold off through these communication channels. Maliha Abidi, who sold her NFT that generated 2000 ETH of trading volume in November 2021, said: “Regardless of how low or high the market is, the community is so enthusiastic and constantly tagging our project in different things constantly talking about it.”
NFTs have gained popularity since their introduction. As a digital asset, it is accessible and easily shared. NFT creators profit from selling their crafts, thus helping blockchain technology gain more momentum. However, it is essential to note that investing in an NFT might also cause considerable profits or losses. Before investing in an NFT, it is advisable to follow the trends in NFT communities and not put in too many funds at your first instance.
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