{"id":10553,"date":"2022-02-07T13:34:56","date_gmt":"2022-02-07T13:34:56","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/07\/how-to-make-an-nft\/"},"modified":"2022-02-07T13:34:56","modified_gmt":"2022-02-07T13:34:56","slug":"how-to-make-an-nft","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/02\/07\/how-to-make-an-nft\/","title":{"rendered":"How to Make an NFT"},"content":{"rendered":"

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archy13\/Shutterstock.com<\/a><\/span><\/figcaption><\/figure>\n

You can\u2019t escape the NFT craze right now: everybody is talking about these digital assets, or even going so far as putting out their own. As a result, you may find yourself curious about how to get in on the action. Here\u2019s how to make your own.<\/p>\n

How to Create an NFT<\/h2>\n

We\u2019ve put together this short guide on how to make an NFT in just a few steps. However, because it\u2019s relatively brief, we\u2019re assuming you already know some basics, like what NFTs are<\/a> and how they relate to cryptocurrency<\/a>.<\/p>\n

We\u2019re also assuming that you\u2019re aware of criticisms of and problem with NFTs<\/a>. For example, as an investment, they\u2019re incredibly volatile. Some people are making millions with crypto, but plenty of others have seen their portfolios plummet in value. The art itself isn\u2019t stored on the blockchain<\/a>.<\/p>\n

Warning:<\/strong> We\u2019re not recommending you create or buy NFTs. If you get involved with NFTs, know that there\u2019s no such thing as a sure bet when dealing with anything crypto.<\/p><\/blockquote>\n

Step 1: Create a Piece of Art<\/h2>\n

With disclaimers out of the way, let\u2019s take a look at how you can create an NFT and bring it to market. The first step is to have or make something that can be turned into a non-fungible token. There are a lot of options here, from video game items to memes, but for the purpose of this guide we\u2019ll assume we\u2019re working with digital art.<\/p>\n

In this case, the first step is to create one. We\u2019re not artists: This part is up to you. In the end, though, it doesn\u2019t really matter what you want to turn into an asset, as long as it can be fit into some kind of digital format\u2014PNG seems to be the most popular for visual art\u2014you\u2019re set for the next step.<\/p>\n

Step 2: Get a Crypto Wallet and Add Some Crypto<\/h2>\n

The next step is also quite brief: you need to make sure you have a crypto wallet and load it up with the currency your platform\u2019s blockchain uses\u2014more on that later. The only way to play in the world of crypto is to have a wallet and to have a few bucks in it, so you can\u2019t avoid this step.<\/p>\n

We have a guide on\u00a0what a crypto wallet is<\/a> and how they work, as well as one where we explain how you can buy bitcoin<\/a> and other cryptocurrencies. The reason you need to have a wallet is to be able to receive funds, while you\u2019ll need to buy some crypto of your own so you can pay any fees associated with putting an NFT up for sale.<\/p>\n

Note that you can\u2019t just use any wallet, though, as not all wallets play nice with all platforms, so take a close look at the next step before making any commitments.<\/p>\n

Step 3: Pick a Platform to Sell On<\/h2>\n

This will be the most involved step: You need to pick where to sell your NFT. This can be a tricky choice, as different platforms charge different fees, let you set different terms, and may even specialize in different types of NFTs. Most importantly, they can also offer different blockchains<\/a> to place your NFT on, which can affect security and usability for different people.<\/p>\n

Going over all these differences in a single article is simply impossible.\u00a0Instead, we\u2019ll touch on the two biggest platforms, OpenSea<\/a> and Rarible<\/a>, and how they handle sales. Both of these are popular options to choose from. If you don\u2019t like either of these options, though, there are plenty more to choose from.\u00a0At the start of 2022, new ones are popping up almost every day.<\/p>\n

Among the things you should keep in mind when choosing a platform are the legal side of things: some platforms will present you with a contract where you gain the copyright along with the NFT, with others it stays with the original maker. Another issue is which blockchain you want your NFT to be on.<\/p>\n

Step 3A: Pick a Blockchain<\/h3>\n

Besides their size, the other reason we\u2019re using these two platforms as examples is because they support more than one type of blockchain. Practically all marketplaces will offer Ethereum<\/a> first and foremost\u2014though you should take care not to confuse Ethereum the blockchain<\/a> with its associated cryptocurrency Ether, which is confusingly also called Ethereum by some.<\/p>\n

However, for any number of reasons, you may want to step over to another blockchain, in which case OpenSea and Rarible may be good options. OpenSea lets you use Ethereum, Polygon<\/a> and Klaytn<\/a>, while Rarible features Ethereum and Flow<\/a>.<\/p>\n

Each of these other blockchains has its own advantages and disadvantages over Ethereum. Usually\u2014not always\u2014their main advantage is that they\u2019ll be cheaper to get into than their main competitor. This is because Ethereum requires you to buy something called \u201cgas\u201d in each and every transaction. For practical purposes, it\u2019s best to think of it as a transaction fee, though it\u2019s actually a little more complicated, as we explain in\u00a0our guide to Ethereum gas<\/a>.<\/p>\n

Step 4: Minting Your NFT<\/h2>\n

Assuming you\u2019ve picked the platform and blockchain that you think is best for your NFT, it\u2019s time to upload your NFT to your wallet and get it ready for sale\u2014again, the wallet you\u2019re using may change depending on the platform you pick.<\/p>\n

Uploading an NFT to the blockchain is known as \u201cminting,\u201d and it\u2019s a pretty simple step overall. Rarible and OpenSea both have roughly the same process here. Following the instructions on your NFT marketplace\u2019s website, you will upload your NFT into your wallet, add details like the description and a number of others\u2014and then that\u2019s pretty much it.<\/p>\n

As you\u2019ll see, there are a lot of things you can add to your NFT to make it more attractive, like adding levels or leaving parts of it locked until it\u2019s been purchased. It\u2019s an interesting way to reel curious buyers in.<\/p>\n

\"Minting<\/p>\n

Step 5: Selling an NFT<\/h2>\n

With all that done, it\u2019s time to actually put your NFT out there and hopefully make some money. On most platforms, doing so is as simple as hitting a button that says \u201csell\u201d on whatever NFT you have in your wallet.<\/p>\n

The screenshot below shows how it works on Rarible using the MetaMask wallet. Note the Ethereum gas fees.<\/p>\n

\"Rarible<\/p>\n

In practically all cases, you have a few options on how you want to sell your NFT. These usually fall into one of three categories: fixed price, timed auction, or unlimited auction\u2014which Rarible calls \u201copen for bids.\u201d<\/p>\n

A fixed price is simplest to explain: you put your NFT up at a certain price and you wait for somebody to pay that amount. OpenSea lets you put a time limit on this price if you want, but other than that it\u2019s the same.<\/p>\n

A timed auction is also relatively common: in a certain time span, which you can decide, potential buyers will bid on your NFT. When the time limit expires, the highest bidder receives the NFT. An unlimited auction is an auction without a time limit, the seller simply decides when they have received what they think is the best offer and ends the auction.<\/p>\n

From here the process runs pretty much automatically: the buyer pays what they\u2019re supposed to for the NFT plus some fees, the creator gets their money minus some fees, and the NFT changes hands. The buyer gets a cool little collectible, and you, the seller, gets the start of a cryptofortune\u2014hopefully.<\/p>\n<\/div>\n