NFTs have grown in popularity recently, perhaps due to the exorbitant prices some crypto artworks have sold for in this format. But… What is an NFT? How can you create an NFT step by step? And how do you generate income? Below we have prepared a guide in which we will answer all these questions.
What is an NFT?
NFT stands for Non-Fungible Token, a cryptographic token that represents a completely unique, non-tradable unit of data stored in a digital ledger that uses blockchain technology to establish proof of ownership.
Whether the original file is in JPG, MP3, GIF or PDF format, the NFT that identifies your property can be bought and sold like any other form of art.
NFTs are collectible digital assets, usually for artistic purposes (for now), that, like physical art, have a monetary value largely determined by market demand.
How to create an NFT step by step
To set up your first NFT, the first thing you need to do is choose a platform to sell your non-fungible token, as well as a digital wallet to fund and receive payments.
There are already many online platforms where you can create and sell NFTs. Popular auction platforms include OpenSea, Rarible, SuperRare, Nifty Gateway, Foundation, VIV3 and BakerySwap.
Payment platforms with good reviews include MetaMask, Torus, Portis, WalletConnect, Coinbase, MyEtherWallet and Fortmatic.
For illustrative purposes in this guide, we walk through the process of creating an NFT using Rarible as the platform to sell it, as well as MetaMask, as the cryptocurrency payment platform.
Now yes! After choosing the platforms of your choice, let’s see step by step what you need to do:
To create an NFT, you typically pay a platform to generate a non-fungible token from your work.
Most platforms use Ether, Ethereum’s original cryptocurrency, the open source blockchain platform where NFTs were first launched.
Connect the two platforms
Once you have your “digital wallet” to hold crypto assets, connect it to your NFT platform of choice.
Add money to your wallet
After creating your wallet, add some money.
In the case of MetaMask, simply click the “Buy” button to buy Ether (ETH) with a debit card, Apple Pay or other available payment methods.
Upload your file
You are now ready to create your NFT!
On the next screen, you will be given the opportunity to create a unique work, where you have to upload the digital file that you want to convert to NFT.
In the case of Rarible, PNG, GIF, WEBP, MP4 and MP3 files with a maximum size of 30MB are accepted.
Arrange an auction
In the next part of the form, choose how you want to sell your artwork as NFT. Here are three options:
- Fixed Price: Allows you to set a single price and instantly sell it to other users.
- Unlimited Bidding: Allows users to continue bidding until a bid is accepted.
- Timed Auction: This is an auction that only takes place for a specific period of time.
Describe your NFT and set up other aspects of the sale
You can now add a title and description to the NFT version of your work.
If you want to maximize your chances of selling your NFT, it is important to take this step seriously and come up with a strategy that will capture the attention of your audience.
Also below, the platform asks you to consider the royalty percentage you wish to claim for a possible resale of your NFT in the future.
Again, it’s a balancing act: a higher percentage will give you more money per sales in the long run, but it also reduces the number of users interested in selling your art in the first place, as they will be less likely to get their own. advantage.
Finally, there is an optional field to add your file properties.
Once that is done, we are almost done building our first NFT.
Pay the corresponding fees
When you create your NFT, there will come a time when you will be asked to connect your wallet to pay the listing fee to the platform where you plan to create and sell your NFT.
Keep in mind that even if the fees seem low at first, more additional fees may arise in the future. Find out very well about the terms of each non-fungible token distribution platform to avoid unpleasant surprises.
Conclusions on how to create an NFT
As you can see, creating an NFT does not require great knowledge or technical skills to experience this new way of sharing art through the cryptographic capabilities of the new technologies.
While there is still much to be seen as to how these tokens will become profitable, if you are willing to take a risk and put some money into creating NFT art, you can learn more about these digital assets in our how-to guide tokens earn money.