NFTs have gradually become a cultural phenomenon, with constant headlines of celebrities dabbling in the space. Many see it as a good investment and a quick way to generate income, with some creators and investors making millions of dollars from trading NFTs. Unfortunately, it has also led to many scams, shenanigans, and legal fights. Making an NFT is not rocket science, and this has led to many wanting to create their own NFTs. But before creating your first NFT, it is essential to know what NFTs are.
Create Your First NFT; What Is An NFT?
Non-fungible tokens (NFT) are unique and non-interchangeable units of information stored on a digital ledger. They are digital art, photos, videos, audio, and other types of digital files as unique items that have been tokenized. NFTs use blockchain technology that powers Bitcoin to provide verified and public proof of ownership.
Create Your First NFT; How Does An NFT Work?
NFTs are built on a distributed public ledger that records transactions called a blockchain. Blockchain technology is the underlying process that makes the creation of cryptocurrencies possible. The Ethereum blockchain is the primary blockchain where NFTs are typically held on, although other blockchains also support them. Minting refers to the conversion of digital files into crypto collections or digital assets. You can mint NFTs from digital objects that can be tangible or intangible items. Such items include Art, GIFs, Videos, Collectibles, Virtual avatars, video game skins, Designer sneakers, Tweets, and Music.
Therefore, NFTs are actually collector’s items that are digital assets and not physical items. So instead of buying a physical oil painting, you buy a digital file of that painting instead. NFTs provide the creators and buyers with several advantages. It allows creators to get exclusive ownership rights to their creations as NFTs can’t be duplicated or pirated as a physical painting would.
NFTs can’t be duplicated because each NFT has unique, verifiable data. With this, the authenticity of the digital asset can be verified. Furthermore, the ownership and history of asset transfer between owners can also be verified. In addition, the creator or owner can store specific data inside their NFTs. For example, artists can include their signature in an NFT’s metadata.
Create your First NFT
Thanks to technological advancement, creating NFTs is pretty easy in today’s world. So if you decide to create your first NFT, there are several ways to accomplish your goal. However, before making your first NFT, there are some essential things to consider. So here’s a guide on how to make your first NFT.
Decide On The Concept
The first step to minting your first NFT is by deciding the concept of your NFT. This will help you decide certain things like the kind of NFT you are minting, the name of the NFT, the target audience, and the intention of minting your first NFT.
Decide On The Platform
Secondly, you need to decide the platform on which you want to mint your NFTs. The platform you mint your NFTs on determines the tech skills required to mint your NFTs. It also determines the platform where you will sell your NFTs. Interestingly, creating NFTs on most major NFT platforms is not hard. You don’t have to be a technical or a technology wizard to make your first NFT.
For example, the tech used to mint NFTs on OpenSea can be compared to that used to sign up for Myspace as far back as 2006. Opensea is a beginner-friendly NFT marketplace for creating NFTs and trading NFTs. It is also one of the most prominent NFT marketplaces; therefore, we will be working with it. The blockchains used on Opensea are Ethereum and Polygon blockchain. After minting your NFTs, the final step is to sell them.
Create A Unique Artwork
When you’ve decided on the concept for your NFT and the platform you want to mint it, you can proceed to create a unique artwork. And you will upload it to Opensea as an NFT. Your NFT can be anything you want it to be. It could be an image, a 3D model, a video, or audio. Also, Opensea supports several file types. This includes PNG, JPG, GIF, SVG, WEBM, MP4, MP3, OGG, GLTF, GLB, and WAV.
Create A Reliable Wallet
The next step after creating your artwork is to create a reliable wallet if you don’t have one. Metamask is a secure Ethereum wallet and one of the most used wallets for creating NFTs. Proceed to download and install a Metamask wallet. Here is how to install metamask app and the best way to install Metamask is on the Chrome browser. Once installed, click on the “Create a wallet” icon. You’ll have to choose a password, and you’ll be given a 12 seed phrase (secret recovery phase). Ensure you save your seed phrase in a secure place.
Create An Opensea Account
Once your Metamask account is ready, visit the Opensea Website to create an account. Creating an Opensea account is pretty straightforward. When you visit Opensea’s website, you’ll have to connect your wallet. Scroll to the top right-hand corner of the Opensea website to connect your Metamask wallet. When you click on the wallet icon, you’ll see several wallet options. Click on Metamask, and instantly, your account is live.
Proceed To Mint And Share Your NFT
The next step after linking your Metamask wallet to Opensea is to upload your artwork for people to mint. To upload your artwork, click on the “Create” icon in the upper-right corner, then upload your artwork. Next, insert the name and description of your artwork. If you wish to promote your NFT, you can also add an external link for promotion. You will also have to set your royalties option and choose your preferred blockchain network. For example, you can select the Ethereum or Polygon networks.
The Ethereum network is known for its expensive gas fees, while the Polygon network has no fees. The minting process on Opensea is pretty seamless and straightforward. Once you’ve successfully minted your NFT, it will appear on your profile. You should know that the blockchain data of your NFT is public and accessible by anybody. Your NFT’s trading history will be available to the public forever. This helps you and the prospective buyers track its price.
Selling Your NFT
After minting, it’s time to sell your NFT. Proceed to list your NFT for sale at your desired price. You can place a fixed price for your NFT or put it up for auction. You can also set a sales deadline for your NFT to be taken off the market.
Conclusion
Creating your first NFT is not as complicated as many make it out to be. By following the simple steps provided in this article, you should create your NFTs seamlessly. However, before making your first NFT, decide the concept of your NFT and choose the right platform to create and sell your NFTs.
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