There’s no escaping the NFT craze right now: everybody’s talking about these digital assets, or even releasing their own. As a result, you may be wondering how to join the action. Read on.
Table of Contents
- How to Create an NFT
- Step 1: Create a Piece of Art
- Step 2: Get a Crypto Wallet and Add Some Crypto
- Step 3: Pick a Platform to Sell On
How to Create an NFT
With just a few steps, here’s our guide to creating an NFT. Nevertheless, because it is relatively brief, we are assuming you already know some basics, like what NFTs are and how they relate to cryptocurrency.
Also, we assume that you are aware of criticisms and problems with NFTs. For instance, they are unstable investments. Some people have made millions with crypto, but plenty of others have seen their portfolios plummet. Art itself isn’t stored on a blockchain.
Step 1: Create a Piece of Art
Now that we have that out of the way let’s look at how you can create an NFT and bring it to market. To create a non-fungible token, you need something to be turned into one. We will assume for this guide that we are working with digital art, but there are many options here, from video game items to memes.
The first step is to create one. Since we aren’t artists, you have to do this part. It doesn’t matter what you want to turn into an asset; as long as you can fit it into a digital format – PNG seems to be the most popular format for visual art – you’re ready for the next step.
Step 2: Get a Crypto Wallet and Add Some Crypto
In the next step, you should make sure you have a crypto wallet and load it up with the currency your platform’s blockchain uses. If you want to play in the world of crypto, you need a wallet and some money in it.
There is a guide on what a crypto wallet is and how it works, and one explaining how to buy bitcoins and other cryptocurrencies. To receive funds, you need a wallet, while you’ll also need crypto to pay any fees associated with putting an NFT up for sale.
It’s important to note that not all wallets are compatible with all platforms, so make sure you thoroughly review the next step before making any commitments.
Step 3: Pick a Platform to Sell On
It would help if you chose where to sell your NFT: This will be the most difficult step. Choosing a platform can be tricky, as different platforms charge different fees, let you set different terms, and may even specialize in different types of NFTs. Additionally, they can provide different blockchains to place yoāur NFT on, affecting security and usability for different people.
It would be impossible to discuss all of these differences in one article. Our discussion will focus on the two biggest platforms, OpenSea and Raible, and how they handle sales. These are both popular platforms. You have plenty of other options if you don’t like either of these. Every day a new one appears at the start of 2022.
When you choose a platform, keep in mind the legal side of things: some will provide you with a contract that gives you the copyright and NFT, while others give the NFT to the original maker. Choosing a blockchain for your NFT is another issue.