Getting started in the NFT world can be confusing if you don't know where to start. This quick guide will hopefully answer a few questions and put you on the right path to launching your first collection!
Over the past several years, non-fungible tokens (NFTs) have risen to the top of the cryptocurrency market, with billions of dollars worth in trading volume and a flood of celebrity endorsements propelling the digital art to the forefront of mainstream media sources.
You can upload your artwork, add it to the blockchain, and begin minting it in order to sell it to others. This guide will walk you through every step of creating your NFT, from uploading your artwork to picking the best blockchain and listing it for sale.
An NFT is a digital representation of a physical item with monetary value. NFTs are exchanged and encrypted with blockchain technology that's identical to what's deployed by various cryptocurrencies.
The term "NFT" is an abbreviation from Non Fungible Token. Non-fungible is a cost-effective term that may be used for goods like a music file or image on your computer. Fungible commodities may be traded since their value, not their distinctive traits, is what distinguishes them.
Due to their non-fungibility, they are regarded as unique (a digital asset that cannot be duplicated or reproduced). An NFT transfers ownership of the original object to the buyer. It has built-in authentication to serve as evidence of ownership.
An NFT marketplace, or cryptocurrency exchange that supports NFT minting, can be used to create an NFT.
To make an NFT entirely from scratch, follow these steps:
NFTs are frequently connected to a piece of digital art. This might be a picture, an audio recording, or a simple video clip. The objective is to produce an original piece of digital media that may be sold, just like a painting can be sold in an art gallery.
NFTs provide creators value since they are special things that they can only own in NFTs. Making an NFT from digital media that you don't own might have implications, thus it is very crucial to make sure you have the legal right to use it.
Typical NFTs could be PFPs (profile pictures), Gifs, Video Files, Audio FIles, Music, etc.
Your NFT can be stored on any of the different blockchains out there. Since this blockchain will be used to preserve a record of your NFT forever, it is essential to select the chain that best meets your needs. There are a number of additional blockchains including Bitcoin (BTC), Stacks (STX), Solana (SOL), Ethereum (ETH), and Polygon (MATIC) that accept NFTs. These blockchains each have their own communities and decentralized applications (dApps) that are available to NFT owners and authors.
You'll also want to pick a specific blockchain based on what type of NFT you're selling. You'll also want to factor in gas prices if you're not funded or have deep enough pockets to pay the minting fees yourself.
ETH: This is one of the most popular chains right now and it's seen everything from PFTs to music and audoe files being sold. The downside is that is has/had high gas prices.
BTC: This is a well know chain, because it was what really put crypto on the map, but it surprisingly a newer chain where NFTs can be purchased. The gas prices aren't bad but it doesn't have as much authority compared to ETH (not actually a bad thing).
STX: Stacks is actually on Bitcoin and you can sell NFTs on it specifically. This is an L2 chain on BTC and will likely see big moves in the near future.
MATIC: This works similarly to how STX works with BTC. MATIC is an L2 on ETH and has really low gas chains which pulls a lot of collection owners and NFT creators to it.
SOL: This is a bigger chain that has been making a lot of progress. They've been seen as the go-to for gaming NFTs and systems.
To store your NFT after selecting a blockchain, you will need a digital wallet that works with that blockchain. Download the crypto wallet application, enter your username and password, and store your private keys and recovery phrase offline for backup reasons in order to establish a wallet.Many well-known wallet applications support various blockchains, including:
Metamask: A well-known cryptocurrency wallet that supports a large number of cryptocurrencies as well as the Ethereum and Solana blockchains. It may be added as a browser extension or used as a mobile app.
Coinbase Wallet: In addition to Solana NFT collections, Coinbase provides a digital wallet that supports ERC-721 NFT tokens. It may be added as a browser extension or downloaded as a mobile app.
These are the two largest wallets that a lot of people seem to love.
There are an increasing number of NFT platforms that let you build your collection, but the better ones also provide a full-service marketplace, and not only can you build your collection but you can use their systems to start minting as well. Some of the most well-liked NFT systems are listed below
OpenSea: One of the more dominant NFT marketplaces in the world right now. OpenSea is free to register and list your NFTs, which is nice for beginners, but takes 2.5% of the sale in return for using their platform. Additionally, it promotes artists and creators and includes an easy-to-use approach for forming your own NFT collection.
Rarible: Another significant NFT marketplace, comparable to OpenSea, and has various listings related to art, videos, collectibles, and music. Rarible is a little more upscale because it seems to be moderated a bit more compared to OpenSea.
SuperRare: If you're just starting out, you probably won't be able to sell on SuperRare, and that's because you'll need to get approved before you can start selling here. Now, that doesn't mean it's impossible to get your artwork on here, it's just a little more difficult, but that's not always a bad thing.
It's quite simple to create an NFT after you've selected a platform.
Wallet Connection: Connect your wallet by choosing the appropriate digital wallet from the OpenSea menu's wallet icon. You'll need to sign a verification on your wallet app for this in order to continue.
Choose "Create" from the menu: A menu for creating an NFT will now appear. It includes a part for uploads and sections for NFT features, properties, and blockchain.
Upload your media file here: This will be your image, gif, audio file, etc. that you want to sell as an NFT. You have the option to directly upload or link to a media file located elsewhere.
Complete the details: You must give your NFT a name and enter a description. This NFT can possibly have special features added to it, along with extra benefits like unlocking material like invitations to private discords or coupon vouchers for goods.
Creating the NFT: Simply choose "Create" after entering the NFT's information.
It's easy to list an NFT for sale because the majority of NFT platforms let you do so free. When your NFT is ready and in your wallet, all you have to do is click the "sell" button on the platform of your choice. You can then specify the listing price and the duration of the sale.
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