In 2022, NFTs were a big thing. Collins Dictionary chose non-fungible token as the word for the year. While we’re seeing the market for non-fungible tokens slowing somewhat, the technology demand isn’t going away.
You may be a writer who wants to broaden your scope or simply someone interested in this new field. There’s no doubt that NFTs can be an excellent asset.
We’ve put together an easy step-by-step guide to how to create an NFT or perhaps allow you to earn money through your work.
Table of Contents
- 1 What is NFT?
- 2 How much will it cost to produce NFTs?
- 3 How to create an NFT artwork
- 4 How to create an NFT for free
What is NFT?
Non-fungible token, also known as NFT, is a digital token designed to function as a digital certificate of rights to proprietary ownership for digital or physical assets such as photographs, tweets, videos, codes, etc. Each NFT is an individual non-fungible, indestructible digital asset. That means NFT is distinct compared to Bitcoin and Ethereum; therefore, they can not be exchanged or used for payment purposes.
How much will it cost to produce NFTs?
Although it is free to create NFTs using OpenSea, some platforms will charge an amount. For platforms that are based on Ethereum, this fee is referred to in the form of ” gas.” Ethereum gas is the amount of ether needed for a particular task on a blockchain. For instance, in this case, it’s the introduction of a new NFT on the market. Gas prices vary according to the amount of network traffic. The more people who use the network at one period, the more expensive the cost of gas, and the reverse is also true.
How to create an NFT artwork
Step 1. Decide on the kind of NFT you’d like to make
If you’ve considered these factors and are still looking to create an NFT, you must decide on the kind of NFT you’d like to create. NFTs are available in various sizes and shapes, ranging from music and artwork to memes and games. They can also be converted to different file formats, including MOV, PNG, or JPG.
Before making an NFT, it is helpful to consider what it could do to be an asset that adds value to the people using it.
Step 2: Choose a Blockchain
There are many blockchains that can store your NFT. Furthermore, the blockchain will maintain an indefinite record of your NFT; therefore, selecting a blockchain that meets your needs is important.
The most well-known NFT blockchain is Ethereum which houses hundreds of NFT collections. Ethereum NFTs are made using the ERC-721 standard that records the metadata of the NFT on an Ethereum blockchain.2 The standard was created by the same team that created the ERC-20 smart contract and specifies the basic interface–ownership information, security information, and metadata required for exchanging and dispersing gaming tokens.34
This blockchain operates on its Proof-of-Stake (PoS) consensus mechanism, which makes it greener than it used to be.5 The majority of NFT marketplaces allow the creation of Ethereum NFTs, but moving NFTs onto the Ethereum blockchain can incur high costs for gas.61
The closest competitor to the Ethereum blockchain is Solana. Created to be a faster and less expensive substitute than Ethereum, Solana offers transaction costs of lower than $0.01 and a growing number of applications that support NFTs.78 Furthermore, Solana utilizes both the proof-of-history (PoH) and PoS consensus mechanism and has significantly faster transactions than Ethereum.910
Flow is yet another PoS blockchain designed specifically for gaming decentralization and NFT applications and is home to the renowned NBA Top Shot NFT collection.1112 Numerous other sports teams have also created marketplaces on Flow blockchain, making it a preferred location for NFTs geared towards sports creation.13
There are many other blockchains that work with NFTs, Each with its community and decentralized applications (dApps) for creators and NFT owners.
Step 3. Set Up Your Digital Wallet
We’ve already discussed setting up your Ethereum wallet using three wallets: Rainbox, MetaMask, and Coinbase wallet. You also have alternatives like the trust wallet, math wallet, and an Alpha wallet. These wallets also give you access to the digital asset you have.
Be aware that regardless of these three wallets, you must buy Ethereum, Polkadot, Tezos, or any other cryptocurrency used to make NFTs. The most suitable option is Ethereum. If you already have Ethereum, it is all you need to be able to link it up to your online wallet and begin making or selling NFTs.
Step 4. Select a platform for selling your NFT
There are many NFT marketplaces available to sell various NFT tokens. A variety of NFT platforms are popping up as technological advances grow. Below are the most popular NFT marketplaces that let users make and sell their NFTs with ease and get the best price for their original invention:
Looking for a website that will allow you to list your NFTs hassle-free? Raible is one platform that lets you display your NFT to various users on the web. The greatest benefit of using this platform is that registering the NFT and submitting it on this marketplace is just as simple as uploading your video to YouTube.
Zora is among the most popular NFT marketplaces to offer your NFTs and receive a fair price for your item. Zora was designed around the notion that content creators should fully control their content from the most popular marketplaces. Zora allows creators to complete many tasks, like creating audio files, videos, images, and even simple text files.
The platforms are primarily focused on digital collectors. With top-rated musicians and artists such as Justin Roiland and Grimes, Nifty Gateway offers exclusive collections that are limited edition. In addition, you can purchase digital artwork from the platform with credit cards. This is the best since few NFT marketplaces allow this method to pay.
As the name suggests, SuperRare brags about offering an exclusive and wide variety of NFTs to digital artists across the globe. But, unlike other marketplaces, this one is different and has exclusive options.
One of the most enduring NFT marketplaces compared to all other marketplaces here, OpenSea showcases a massive collection of digital artwork from various creators and artists. In addition, it offers all sorts of NFTs, including 3D collectibles and other things utilized for the video game.
All of these NFT marketplaces will allow you to create your own NFTs. All you have to do is pay the fees required to create an individual NFT and keep any sales profits.
Step 5. Connect your wallet to the desired NFT platform.
To begin selling NFTs, you’ll need to connect your crypto wallet with the preferred NFT marketplace.
If, for instance, you’re using OpenSea, you can select “Create” on the upper left corner of the page to see the list of cryptocurrency wallets that work for the OpenSea platform. In addition, if you’ve installed MetaMask as an extension for your browser, You’ll get an ad-hoc window with the option to connect the wallet to your OpenSea account.
Step 6. Create the NFT
Once you’ve decided on the platform you want to use, making an NFT is quite simple. Here’s an example of creating an NFT using OpenSea:
- Link your bank account & connect your wallet: In the OpenSea menu, choose the wallet icon, then select the digital wallet you’d like to join. Next, it will ask you to confirm your account in your wallet application.
- Choose the “Create” option: This opens an option for creating the NFT creation process. It includes an upload section. NFT properties, features, and blockchain.
- Upload your files: The file is the image or other media you’ll be selling. It is possible to upload directly or directly to the externally hosted files.
- Fill details: It is necessary to identify your NFT and explain it. You may also add unique properties or other perks, such as unlockable content like an invitation to an exclusive Discord channel and discount coupons for items. You can also limit the number that can be created (typically only one unless you are making a whole collection).
- Make the NFT After you’ve completed the information for your NFT, just click “Create.”
After clicking “Create,” your file will be uploaded, and an NFT can be made. However, the NFT isn’t available as a sale item yet, and the metadata is not technically adjustable until you have listed your item for sale.
Step 7. Start selling
If everything goes as planned and everything is in order, you’ll be able to have an NFT that is available through one of Rarible, OpenSea, or both. But the sellers have informed me it’s unlikely to take you far. As you’ve observed that the process is quite complex; however, the gold rush-inspired environment surrounding NFTs has inspired many to attempt the making of one. If you’re looking for your work to be a success, you’ll need to figure out how to stand out from the crowd with a clever marketing strategy or by making your work unique (and likely doing some clever marketing).
How to create an NFT for free
- Creating a crypto wallet account
- Making an account on an NFT marketplace
- Painting some art
- Uploading your art
- Choosing free minting
- The NFT is minted