The world of the internet is an ever-changing landscape. Recently, the concept of NFT’s (or non-fungible tokens) has hit the mainstream in a sort of NFT craze.
You might be wondering how you can get into this market yourself.
Maybe you have a popular meme on your hands. Perhaps your grandfather gave you a valuable baseball card and you’d like to turn that into an NFT.
Or, you may be a graphic designer looking to turn your designs into digital art NFTs. There are many reasons someone may want to make an NFT.
Here, we will walk you through the steps to make your NFT aspirations a reality. How to create a NFT art?
How to Create an NTF
Before you start making your NFTs, it is worth mentioning that you shouldn’t expect to sell them for thousands of dollars. This is a rare occurrence.
It is also worth noting that you may lose money in the process of creating NFTs.
The companies that create the platforms where NFTs are sold take a percentage of your profit as a fee for using their service.
Overall, it is a risky process financially, but if you decide to leap, here is what you will need to do.
Step-by-step guide to NFT creation:
- Buy some ETH.
- Set up MetaMask and transfer some ETH to the new MetaMask wallet Address.
- Choose an NFT marketplace like OpenSea, go there and connect your MetaMask
- Upload your artwork into the blockchain
- Pay the GAS fee (this is where your ETH comes into play) and mint (create) the NFT from your artwork
- Choose your price and type of sale
- Hopefully sell something 🙂
First, get some cryptocurrency
You will need a platform to generate an NFT. Creating an NFT to upload in the blockchain is referred to as “minting” in the industry.
To mint NFTs, you will need cryptocurrency. Most platforms want you to use Ether (ETH), the native token of the Ethereum blockchain.
Cryptocurrency can fluctuate from minute to minute and day to day, so understand that making your own NFT is a financial risk no matter what.
To buy some ETH, you’ll need to sign up with a crypto exchange, check out our comparison of the best crypto exchanges.
Once you’ve got some ETH, you’ll need to transfer a starter amount ($300-500) to a crypto wallet, like the Coinbase Wallet, MEW, or Metamask, that you can then use to connect to the NFT platform of your choice.
We recommend using MetaMask to do this. Search for the Chrome extension and read their tutorials. It’s not that hard to set up.
Next, create the NFT listing on an NFT marketplace
Now that you have obtained your cryptocurrency and deposited it into your digital wallet, you can begin to make your first NFT.
OpenSea is the largest and arguably best NFT platform and offers both ERC721, these are a smart contract standard and ERC1155 assets.
Rarible offers ERC 721 assets and is more creator-centric.
Depending on the type of NFT you want to create, some platforms specialize in one or all of them. Take NBA Top Shot, for example. Remember, there are pros and cons to all NFT platforms, and you should look into many platforms before choosing one for your new NFT.
Once you choose the NFT platform you’d like to use, set up your account. Agree to the necessary terms of service for the platform, and you are ready to start creating.
Once you set up your account with your preferred platform, you can upload your files to the blockchain. Many platforms allow you to choose if you would like to upload a file for single-use or if you would like to sell the same file multiple times.
Once you decide on the frequency of selling your item, you can then decide on the price point. This part is crucial to your success financially.
If you set your price too low, the fees associated with creating NFTs could cause you to lose money overall.
Different NFT markets offer various options for selling your NFT. You can set it to a fixed price, an unlimited auction, or a timed auction.
Fixed-price NFTs allow the customer to buy it instantly. Unlimited auction prices allow a customer to bid on it until you accept a bid.
Timed auctions are set to a specific timeframe. Customers have to bid until the time runs out and the highest bidder wins.
You get to choose how to market and price your NFT based on what is most beneficial to you.
You might also want to consider whether or not you will offer a series of digital files like trading cards or other collectibles. These NFTs are your digital assets.
Don’t underestimate the importance of using search optimization tactics to improve your search results when titling your item.
When you create your NFT listing, you may be asked to set the royalties percentage you want to claim if people resell your NFT.
Making the price high will net you more profits as reselling happens, but it may also deter people from purchasing your NFT because they will lose money paying out royalties.
Before your NFT can be listed, you will be asked to pay fees. This is where you will need to do some basic calculating to ensure you are not going to lose a lot of money.
For instance, there are often listing fees, commission fees on sales, generation fees, and transaction fees. Depending on the platform you are using and the NFT you are selling, you could be looking at around $100 just to list the NFT.
Other fees, called gas fees, are paid by NFT creators. These fees are supposed to help incentivize miners to reduce spam on the site.
Unfortunately, these fees are not always transparently disclosed to NFT creators, so be cautious when attempting to create NFTs.
Most Popular NFTs
NFTs are becoming increasingly popular due to their ability to create scarcity. The limited supply of these assets makes them valuable. In addition, they allow players to customize their experience through customization options. Ever since the successful launch of CrpytoKitties, other games have followed suit and created their own NFTs.
There are now over 50 games using NFTs. Some of the most popular include CryptoPunks, CryptoBots, CryptoZombies, CryptoTanks, and CryptoCats. Other popular collectibles include Bored Ape Yacht Club and Beeple.
Frequently Asked Questions
With all this in mind, you can understand why owning, creating, buying, and selling NFTs can be a tricky business.
However, if you are educated on the background of an NFT, how programs work to house your NFT, and how you can try to protect yourself from losing money on creating NFTs, you may be able to find some success in making an NFT.