Non-fungible tokens (NFTs) have become one of the most popular items in the cryptocurrency market in recent years. Whether you are an innovator or just curious about this new world, there is no doubt that the NFT can be a great asset that you cannot miss. So is it easy to create NFTs? How to create an NFT? Let’s find out through the following article!
I. NFT Overview
NFT is a digital asset that works on blockchain technology. It is often represented as a work of digital art, such as an image, animated video or music, etc.
Each NFT is unique and can be sold as a way to prove ownership over this asset class. So NFT offers tremendous monetization opportunities for digital creators. For example, an NFT collector paid $69.3 million for an NFT work by Beeple called: “Everydays: The First 5000 Days.” This has proven the huge attractiveness and value of this market.
Learn more about NFT here.
II. How to create an NFT
NFTs are not created. Instead, in popular Blockchain terminology, they are minted. Here are the 6 basic steps to mint an NFT.
1. Choose your item
You’ll start by identifying what you want to convert into an NFT. It can be an image, video, meme, gif, tweet,…
The aim is to create a unique digital asset that can be sold, like selling a painting at an art gallery. It’s important to make sure you have the intellectual property rights to this item, to avoid legal trouble.
2. Choose a blockchain
In this second step, you will define the blockchain technology you will use. This blockchain will store a permanent record of your NFT. The most popular blockchain is Ethereum, which hosts thousands of NFT collections. Other popular alternatives include Tezos, Polkadot, and Cosmos.
3. Set up a crypto wallet
Some popular NFT wallet applications that support multiple blockchains such as: MetaMask, Coinbase Wallet, Trust Wallet, Alpha Wallet,etc.
Mining of NFTs can be costly. Hence you will need a wallet with some cryptocurrency in it. Most NFT platforms accept Ether – Ethereum’s cryptocurrency.
4. Select an NFT Marketplace
After having a crypto wallet, this is the step of choosing a marketplace to create or sell your NFT.
Currently, there are many NFT marketplace in the crypto space. Each marketplace does not work exactly the same and it has its own pros and cons. Therefore, you should research each market to choose the right platform for your NFT.
Some popular NFT markets such as: OpenSea, Solanart, Rarible,etc.
5. Minting an NFT
How to create an NFT? Every NFT marketplace provides a step-by-step guide to creating an NFT. In general, you need to click the “Create” button on the NFT marketplace, select the digital file that you want to mint into NFT, and upload it.
After choosing the digital file, you need to pay a certain amount in the form of gas fees from your crypto wallet.
6. Create a Sales Process
Deciding how to monetize the NFT is the final step in the NFT creation process. Depending on the platform you may have different sales processes:
- Selling at a fixed price
- Auction from time to time
- Unlimited Auctions
Thus, above are 6 simple steps to mint NFT. Hope this article can help you answer the question: “How to create an NFT?”. Anyone interested in sharing digital creations can create their own NFT. If you also find the NFT market full of interesting and potential, start exploring and giving it a try now.