on-fungible tokens (NFTs) have been one of the most popular cryptocurrencies in recent years, with trillions of dollars in trade volume and a slew of celebrity endorsements propelling the digital artwork to the forefront of major media outlets.
NFTs may be generated right on NFT platforms, letting you to mint and upload your artwork onto a blockchain. This tutorial will walk you through the steps necessary to create your first NFT, including how to submit your artwork, which blockchain to use, and where to list it for sale.
Non-fungible tokens (NFTs) are blockchain-based cryptographically unique assets with separate identification codes and data that distinguish them from one another.
NFTs are similar to cryptocurrencies in that they cannot be exchanged for one another; each NFT is unique. Cryptocurrencies, on the other hand, are fungible and can be traded for one another with equality. It implies that the value of each bitcoin is identical, allowing them to be exchanged for one another equivalently.
The way an NFT is represented is not as important as the fact that it’s a digital asset, which can be bought and sold on NFT marketplaces. They’re usually depicted digitally, such as photos, moving images, or music. They can be acquired and sold on NFT marketplaces, with bitcoin being the most common payment method.
Creating an NFT requires the use of a compatible NFT market or cryptocurrency exchange. Follow these six steps to make your first NFT from scratch:
Step 1: Figure out what you want to create
An NFT is often linked to a digital piece of art. This may be an image, a song, or even a short video (for example, an animated GIF). The aim is to produce a one-of-a-kind piece of digital media that can be offered and sold like a painting at an art gallery.
NFTs are one-of-a-kind and, thus, give creators a sense of ownership that cannot be found elsewhere. Given this value proposition, it is crucial to confirm you have the rightful digital rights to the media you want to turn into an NFT; if not, you may face legal penalties.
Step 2: Choose a blockchain
There are several blockchains that can handle your NFT. It’s critical to pick the blockchain that matches your needs:
NFTs based on ERC-721 are called Ethereum NFTs since they’re stored on the Ethereum blockchain, which is also home to numerous NFT collections. The ERC-721 standard stores the information about the NFT on the Ethereum blockchain, and Ethereum NFTs are created using it.
The ERC-20 smart contract development team also created this standard in order to ensure the easy exchange and distribution of gaming tokens. This minimum interface requires security and ownership details, as well as metadata.
EOS is a blockchain that launched in June 2018 as a fork of Ethereum. The ERC-20 standard was initially designed for the purpose of creating nonfungible tokens on the Ethereum network, which are similar to Bitcoin’s bitcoins. However, unlike Bitcoin, it features a more eco-friendly proof-of-stake (PoS) consensus mechanism. Most NFT marketplaces allow the creation of Etherum NFTs, although transferring Etherum NFTs may result in hefty gas costs.
Solana is the closest competitor to the Ethereum blockchain. Solana was created as a faster, lower-cost alternative to Ethereum with sub-$0.01 transaction costs and a growing number of integrated applications for NFTs.
Both the proof-of-history (PoH) and proof-of-stake (PoS) consensus protocols are used by SOLANA, which has considerably faster transaction speeds than Ethereum.
Flow is a PoS blockchain designed for NFTs and decentralized gaming apps, most notably the NBA Top Shot NFT collection.
Many other sporting organizations have established marketplaces on the Flow blockchain, making it a popular destination for NFTs focused on sports.
Not only does Proof support NFTs, but there are several other blockchains that do as well. Each community has its own decentralized apps for creators and owners of NFTs.
Step 3: Set up an NFT wallet
To save your NFT, you’ll need a digital wallet that supports the blockchain you’ve selected. To build a wallet, download the crypto wallet software, choose a username and password, and keep your private keys and recovery phrase off-line for safekeeping.
There are many wallet apps that support multiple blockchains:
MetaMask is a versatile and well-known cryptocurrency wallet that supports multiple cryptocurrencies, including Ethereum and Solana blockchains. You can use MetaMask as a mobile app or install it as a browser extension.
The Coinbase wallet makes it easy to store your ERC-721 NFT tokens and Solana NFT collections. You can download the app or add the extension to your browser.
The Ledger Nano X: The Ledger Nano X can store both Ethereum and Solana NFTs in a secure hardware wallet.
Step 4: Choose an NFT platform
An NFT, or non-fungible token, is a type of cryptocurrency that represents a unique asset. There are several platforms that allow you to create an NFT, but the best ones also offer a marketplace to list and sell your NFTs. Some popular options include:
OpenSea is the most popular NFT platform by a long shot. With more than $20 billion in trading volume since its launch in 2017, and over 2 million listed collections, it’s clear thatOpenSea dominates the market for Ethereum-based NFTs. Not only does it support Ethereum-based NFTs, but Solana fans can rejoice too–OpenSea now offers support for those tokens as well!
Solanart: As the Solana-based NFT platform, it provides some of the most popular Solana NFT series, with a user-friendly interface and a simple minting procedure.
Exchanges that deal with NFTs: Binance Exchange is just one example of a crypto exchange that supports NFT creation.
You have the ability to mint or create your NFT directly on our platform. You can also select which blockchain you would prefer we use.
Step 5: Create the NFT
Creating an NFT is straightforward once you’ve chosen a platform. Here’s how to make one on OpenSea:
Connect your wallet: Select the wallet icon in the OpenSea menu, then pick which digital wallet you’d like to connect. This will need you to confirm your wallet app’s authenticity.
Choose the “Create” option to display a menu of choices for your NFT, including an upload area, identifying features, standard properties, and blockchain.
Upload your media file: This is the image or other media you’ll be offering for sale. You may upload it yourself or point to an externally hosted media file (such as a photo gallery).
Provide the following details: Name and description for your NFT. You may also decide to add special properties or extras like unlockable content (e.g., invite to private discord, discount codes) which will be appealing to potential buyers. Lastly, select how many you would like minted. Note: Most people only mint one unless they are releasing a entire collection at once.
Choose your blockchain: Once you mint your NFT, the blockchain cannot be changed.
To create your NFT, populate the fields with your information and press “Create.”
After hitting “Create,” your file will upload, and the NFT will be created. But the NFT is not listed for sale just yet, and the metadata is technically changeable until you list your item for sale.
Step 6: List the NFT for sale
You can easily list your NFT for sale on most platforms free of charge. After your NFT ismade and in your possession, go to the platform you selected earlier and hit the “sell” button. From there, select how much you want to sell it for and how long the duration of the sale will be.
After you’ve filled in the necessary information, you can create the listing. This will entail signing a few transactions in your digital wallet, which may include paying transaction costs on the blockchain network you selected. Because Solana transactions are so tiny, they typically cost less than $1, while listing an NFT on the Ethereum blockchain might cost hundreds of dollars depending on network charges at that moment.