Do you intend on jumping on the NFT bandwagon by launching your NFT collection? Then read along as this is your guide on how to make an nft artwork!
How to make an NFT and sell it, is a major concern nowadays among creators. The majority wants to be a part of the NFT community, by designing them and acquiring profits for selling them online. Even for someone who has sold their art, the industry seems highly profitable. This is due to the royalty factor that allows creators to receive a percentage on every future transaction. This is why people engage in discussions regarding how to make an NFT collection or how to make and sell an nft.
Curious enough, let’s begin!
What Is An NFT?
To create an NFT, you have to have a strong understanding of NFTs. A digital currency in the form of art that can be possessed by only one person at one time. NFTs are unique due to their minting on blockchain technology, which adds to their value. The blockchain code associated with the artwork makes it rare and tracks records of the current owner and its transaction history.
After establishing a knowledge base, the creation process entails the following steps
Things To Consider Before Making An NFT
Before you start making your own NFT, you need to understand that every transaction regarding NFTs requires some amount of fees, known as “gas”.
While working on the blockchain, when you bid for an NFT or purchase it, transfer the ownership to the next owner, or even if you are minting the NFT, everything will require gas to function. It is also worth noting that the amount of gas might vary; making it slightly difficult to estimate how much does it cost to make an nft!
The Process Of NFT Creation
Once you have thought clearly about the pros and cons and your writ to create, the next step is to determine what kind of NFT you need to make. It can be an image, video, meme, or short clip.
You just need to be creative enough to determine how to make something an nft and then you are good to go. Just think of all the ways you can use viral social media content in terms of your nFT creation.
After assessing all these crucial elements you have to follow the following steps
- Choosing A Platform
- Picking A Wallet
- Connecting The Wallet
- Creating An NFT
- Listing An NFT
Choosing A Platform
Out of the many NFT platforms, the most commonly used are Mintable, OpenSea, and Rarible. Following it is listed as to what should be considered before choosing a platform or marketplace.
OpenSea and Rarible are more cost-efficient than other platforms. They enable creators with a “lazy minting system”. This system allows them to create an NFT and put it out for sale without a blockchain code. This is beneficial as minting requires money and this technique allows users to put their NFTs for sale without being minted. Hence when a sale is secured and a transfer has to be made then you can get that art minted or coded. It allows you to save the initial expense which could have been wasted if you had not secured a buyer.
In comparison to Rarible, OpenSea charges an amount for your account activation. This amount is a one-time transaction and after paying it you can easily benefit from the lazy system. Unlike OpenSea rarible charges you for removing an NFT from an ongoing sale. Both platforms are observed to be charging a percentage from every transaction.
Picking A Wallet
A wallet as being descriptive by the name enables you to store currency and NFTs. Before making a purchase for a wallet consider the blockchain technology you are using. Your wallet must be in accordance with your technology.
Two of the most famous wallets are Metamask and Coinbase. Both of these wallets can be used as an extension or an app. However, the blockchains they support differ. It is easy to use them both as per your preference. Just download the app, and set up your profile, by providing a username and a password. The apps also in return provide you with a security code that you must save somewhere safe in case of downloading the app again.
After setting up a wallet you will be required to add some cryptocurrency to it. You must add the currency that you intend on using for your NFTs. For instance, if you plan on minting your NFT on the Ethereum blockchain then it will be suitable to buy Ethereum and store it in your wallet. However, if you are already in possession of some currency then you must add it to your wallet.
Connecting The Wallet
It must be quite evident that after you have set up your wallet the next step is to connect it to the marketplace you intend on using. To do so is pretty simple, on both the extensions and apps. On apps, you can find a specifically dedicated button for the purpose, whereas in the case of website extensions, you’ll see a pop-up.
After performing all the pre-steps, i.e. adequate market research, NFT planning, setting up a wallet, and its connection to the marketplace; you can now create an NFT.
Once, your wallet is connected to the marketplace, you can then create an NFT with the button on the website of a similar name. You can create collections, and fill in all the required and relevant information. After doing that, hit save. After this process, you can mint the NFT from there using gas. Or in the case of OpenSea and Rarible, you can save the initial charges and wait until a sale is made. After the sale is made you can then mint your NFT before its transfer to the new owner.
It is also duly noted that if you are quite a technical person and you do not require some marketplace to mint your collection, then you can create your own smart contract using blockchain technology for minting.
The listing procedure of an NFT on the OpenSea requires the following steps
- Data for buyer/owner
- Selecting blockchain
Once you have uploaded your NFT to the platform you then need to provide a name for your collection. The next step would be to add a description of your collection. You will find a properties section, where you can add the metadata. Your metadata can consist of your collection story for better engagement.
You can also list the unique attributes of your collection. For instance, if it is a viral video clip you can add the year, date, or story behind it, and even the stats. You can also add data for your buyer only. For instance, you can include URLs or links to a channel for communication, etc.
Once you’ve added in all the data or details the next step is to set up a blockchain. Use the one that you prefer after careful market analysis. After completing this process you can hit the create button and your NFT will be listed. Once you exit the congratulatory screen, your collection will be available for purchase.
Start working on your NFT designs today and give thought to what kind of NFT will you make. Then follow this set of actions to publish your first collection!