Artists, tech firms, fast-food chain companies, the gaming sector, fashion brands, real estate, and a slew of other industries have all been engulfed by NFTs. Everyone is attempting to turn their work into NFT or create an NFT themselves, and why not when it’s as simple as shopping online?
And the best reason to create an NFT is that you can make a lot of money doing it. Have you heard of Beeple’s $69 million NFT painting or pixelated CryptoPunk NFTs that are worth millions, or emerging NFT artists making tens of millions of dollars with their jaw-dropping artworks?
Well, maybe fear of missing out brought you here, or you are a developer, graphic designer, or just a cryptokeen who has long been observing the skyrocketing NFT prices and the craze around it.
To begin with, you must understand that, in NFT lingo, we call the NFT creating process “minting”. However, in this article, we’ll say “create” instead of “mint” to explain it better.
Whatever the case may be, if you’ve made up your mind to create an NFT, we will tell you 5 easy steps to do so without beating around the bush. Let’s dive right in!
Step 1: Pick your item
You have to determine what unique asset you want to turn into NFT. This asset of yours can be anything from art, music, video game collectible, gif, meme, picture, or even a tweet. An NFT is a digital item with a public certificate of authenticity or proof of ownership that allows us to differentiate between an original and a reproduction.
So, make sure that you own the intellectual property rights to the item you want to turn into an NFT. If not, it can lead you into legal trouble.
Step 2: Select your Blockchain
Once you decide on what unique asset is going to be your NFT, it’s time to start the minting process. You can create an NFT on a bunch of different blockchains, but it’s important to choose well-crafted blockchains that guarantee the entire security of the NFT marketplace.
You can select one of these top 10 blockchains for NFTs. However, in this tutorial, we will choose the most popular of all, the Ethereum blockchain, to make things simpler. Also, most prominent NFT marketplaces support Ethereum, which is a go-to blockchain for NFT artists and creators.
Step 3: Set up your Crypto Wallet
You have to set up your crypto wallet and add some ETH to it. This is because, to create an NFT on Ethereum, you have to pay a certain amount of ETH as a gas fee. In some cases, you may also have to pay some amount to the NFT marketplace.
Remember if you choose Ethereum blockchain, you will need an Ethereum supporting wallet and if it’s Tezos, you will need a Tezos supporting wallet.
For instance, you can use Metamask or Trust wallet which supports a variety of blockchains. We would also suggest you double-check that your wallet supports the blockchain you choose.
Step 4: Choose an NFT Marketplace
After getting everything in order, it’s time to pick a marketplace where you will create and then list your NFT. Some of the top NFT marketplaces are OpenSea, LooksRare, Rarible, Nifty Gateway, and SuperRare among others.
To explain in clear steps, we’ll select OpenSea as it’s free to join and has no moderation on the digital item you can list. This translates to, OpenSea doesn’t require you to be approved as an artist to sell your NFT. The downside is that anybody can dump their irrelevant NFTs that just clutter the marketplace.
After selecting a marketplace, you have to set up your account (adding a user name, bio, picture, etc) and connect your crypto wallet to proceed. This will allow you to pay the necessary fee to create your NFT and hold any sales proceeds.
Step 5: Create an NFT
Now you are all set to create your very first NFT, let’s get straight to the steps!
- After connecting your ETH wallet to OpenSea, click on Create in the top menu and create a collection.
- Fill in the required information, then save.
- With this, you are ready to start the minting process of a new NFT
- Click on a new item, upload your artwork, and give all the details you want about it.
- Next up, click create! You have successfully minted an NFT.
These steps are applicable on OpenSea. However, the process somehow remains the same across all NFT marketplaces. Most of them have user-friendly guides on how to create NFT, and the pop-up prompts help you to navigate through all the steps.
Now you have your own NFT, you must be expecting something out of it right? We have covered the FAQs for you to get clarity on some of your doubts!
- How to create an NFT for free?
Some NFT marketplaces allow you to create NFT for free. They are OpenSea, Rarible, Nifty Gateway, Binance NFT, Async, etc. For example, to create an NFT for free on Rarible, make sure you switch free minting to ‘On’. Free minting, or lazy minting, allows you to put fees for minting on the buyer, so you won’t be charged.
- How to sell your NFT art?
To sell your NFT art you can list your NFT on several marketplaces. Depending on the platform you can sell it at a fixed price, set a timed auction, or start an unlimited auction. This way you can monetize your NFT.
- How to make money with NFT?
You can make a lot of money by putting your NFT for sale on several marketplaces. However, not all NFTs will even sell, let alone make money out of them. Your NFT will be sold at a high price or not, depends on how much it has gained popularity in the community, which is hard to predict.
But there are some instances when people make big money with NFTs. An Indonesian college student, Ghozali Ghozalu sold 933 selfies as’ Ghozali Everyday’ NFT for $1 million. The NFT space is wild; you never know when you’ll hit the jackpot by selling your NFTs.
- Can I create my own NFT?
Yes, you can create your own NFT by following the easy steps outlined in this article.
- How much does it cost to create an NFT?
Unfortunately, the cost of creating an NFT varies greatly based on a variety of factors, such as gas or transaction fees. Depending on the marketplace and pricing, you have to pay a listing fee, an NFT minting fee, a commission on the sale, and a gas fee.
If the NFT platform offers free minting then you’re only charged ‘gas fees’ which fluctuates depending on the traffic on the blockchain.
Also Read: 25 Most Expensive NFTs Sold Around the World