Non-fungible tokens, or NFTs, are all the rage these days as big brands, sports stars, and musicians continue to break into, and spread awareness of, the industry. Not to mention, these new bits of technology are offering artists a way to make money off of their art like never before. Even kids are making millions with these tokens.
So, it’s not surprising to see that so many artists are looking to dive into the industry.
However, with this technology being so new, many who want to get involved don’t know the first place to look to learn how to do so. The good news is that launching your own collection is actually a very easy process. Here are the steps to creating your first NFT and putting it up for sale:
Step #1: Create Your Art
NFTs are tokens that live on the blockchain, but unlike Bitcoin, Ethereum, Dogecoin, or other cryptocurrencies, they’re non-fungible and in most cases, there’s only one of each unique NFT ever created.
What makes these tokens unique is the art they represent. For example, when you buy a Bored Ape NFT, you’ll purchase a token that represents a cartoon depiction of an Ape. However, each ape is different, with a different combination of fur color, background color, facial expression, accessories, and more.
In order to launch your first NFT, you’ll need to have a piece of art to attach to it. That art could be a drawing, painting, digital image, song, video, or any other digital content. Nonetheless, you will need to have some form of art; so, start by developing the art you’ll connect to your token.
Step #2: Have a Crypto Wallet With Ethereum In Hand
The vast majority of NFTs live on the ethereum blockchain. However, to put any transaction into the blockchain, you’ll pay what’s known as gas fees. These fees range from around $50 to a few hundred bucks depending on the time of day and the demand for transactions on the blockchain.
Moreover, you’ll need a wallet to store your etherreum, and eventually, your NFT.
There are several different companies that provide cryptocurrency wallets. One of the most popular is Coinbase. There’s also the option of a hardware wallet like Trezor that adds further security, helping artists, investors, and enthusiasts avoid loss due to scams and theft. Once you’ve opened your wallet, add some Ethereum by paying for it based on the amount you’d like to add. The process for doing so will be different with different wallet providers, but doing so is simple no matter who you use.
Step #3: Choose Your Marketplace
This is perhaps the most important decision you will make when launching your first NFT or NFT collection. The fact of the matter is that the more popular the marketplace you choose is, the better chance you have of selling your art for a reasonable price.
The most popular marketplaces online include Rarible, Mintable, and OpenSea, with OpenSea claiming the top spot. While all of these marketplaces provide quality outlets for your work, I would strongly recommend going with OpenSea. Not only is OpenSea popular, there are no fees to join and no moderation of the content you create, meaning that whatever your art might be, it will be allowed on the platform.
To start the process on OpenSea, click on the user icon, then click “My Profile.” Once you’ve entered your profile, you’ll be able to connect your cryptocurrency wallet to your account. Simply follow the platform’s prompts for doing so and move on to the next step.
Step #4: Create Your NFT
Now that you have your art ready, your wallet funded, and you’ve connected to the OpenSea platform, it’s time to create your first NFT. To do so, click on “Create” in the top menu. Next, click “Create Collection.”
Once you do, you’ll be asked multiple questions about your collection. Fill out everything completely, making sure that all answers to the question are thought out and concise. Now, click “New Item.” You’ll be prompted to load your art. This is where you’re going to upload your image, audio file, or video file that you’d like to attach to the NFT and give it all the details you want.
Keep in mind that once the NFT is minted, nothing can be undone. All data you provide will be stored in a secure file on the blockchain. So, make sure to double check and make sure everything is as you want it. Once you have and you’re sure you’re ready to go live, click the “Create” button and your first NFT will be minted.
Step #5: List Your NFT for Sale
Finally, it’s time to list your token for sale. To do so, open the newly-minted digital collectible in your OpenSea account and click the “Sell” link. Once you do, you’ll have two options. You can either set a “buy now” price that will allow users to pay the total you request and purchase the token immediately, or launch an auction, where bidders will decide what the final price of your art will be.
The Bottom Line
The bottom line here is that if you’re an artist and you want to use the latest and greatest in technology to bring that art to the masses, minting an NFT is a relatively simple, straight forward process. Follow the steps above to get started and you’ll be a pro in no time!