|
|
The most expensive NFT ever sold traded for an incredible $532 million. That’s over half a billion dollars! At that massive ticket price, you may be wondering how to make NFTs yourself. I know I’ve asked myself this very question.
NFTs are a type of digital asset that people can invest in, making it a perfect time to create them.
But how are NFTs made? Keep reading to discover all you will need to know about how to create an NFT.
What Are NFTs?
Non-fungible tokens, or NFTs, are part of the cryptocurrency world. They’re assets that live on the crypto blockchain with unique metadata and codes that distinguish them from each other.
However, cryptocurrency can be exchanged; NFTs cannot. Each one is unique, and they are valued differently. NFTs are normally known as pictures, animated videos, digital artwork, or even music.
You can buy and sell them on different NFT marketplaces, like superrare.com, but they use cryptocurrency as payment.
How Do They Work?
For NFTs to work, you need to create a digital token. Creating the digital token is done through a process that people call cryptography. Others call it minting.
To mint an NFT, you’ll need to pay to create a smart contract, which is a contract that operates on the blockchain. The smart contract is software code that stores all of the information about the NFTs, and they manage the ownership of each NFT.
Who Can Create Them?
If you have enough money, you can create an NFT. There are some platforms that give you tools to help you create them.
You can even add different content to your NFT files. This makes it easy for anyone to make them, but some of the people who might make them are:
- Entrepreneurs
- Companies
- Collectors
- Artists
- Writers
- Musicians
If you fall into one of these categories, then keep reading!
How to Create Them?
Creating NFTs is actually very easy once you know the process. Keep in mind that the NFT is valued highly depending on how unique it is.
You may want to create different copies of your NFT, but you may want to create some versions that are more exclusive.
Create the Art
First, you’ll need to figure out what type of NFT you want to make. It’s normally a piece of digital art, like a song, image, GIF, or video.
Regardless of what you create, it should be a unique piece of media that you can sell that people will be interested in investing in. Think of it as a digital painting in a digital art gallery.
When you’re creating the art, make sure that you own the digital media or you could face legal problems.
Pick a Blockchain
Once you’ve created your art, you’ll need to store your art on a blockchain. The blockchain will have a permanent record of your NFT, so make sure that you take time to research the blockchain.
Some of the most popular ones to research include:
- Solana
- Ethereum
- Flow
However, there are many more. Ethereum hosts thousands of NFTs today, so it’s a great option for beginners who don’t want to spend too much time researching options.
The blockchain is much more eco-friendly than some other options, but they do have higher gas fees as well.
Set Up a Wallet
You’ll need to mint your NFT with cryptocurrency, which means that you’ll need a digital wallet. You’ll store your crypto and your NFT here.
You want to make sure that you choose a digital wallet that is compatible with the NFT marketplace that you plan to use.
Mint Your NFT
After you have the right digital wallet, you’ll need to connect it to the NFT platform. Then, you can create your digital asset.
You’ll go to the marketplace and connect the wallet. You may need to allow the marketplace permission so that it can view your wallet.
Then, you should see a create button somewhere on the marketplace. You can then upload the digital file that you want to mint. You can then use this to create your NFT.
You can set whether you want to have multiple versions and also how many copies you want to sell. You can then select how you want to sell the NFT.
It’s not mandatory to put it on sale, but if you want to, there’s a minimum price that you can sell it for. You can also offer high-resolution versions for a higher price.
Next, add a title and description for your art. You can also set what percentage of the sales you want to receive. You’ll have to pay any gas fees associated with creating your NFT, but that should be it!
You can confirm it and mint the token. Now it’s available for people to purchase!
How Much Does It Cost?
The cost of minting an NFT will depend on the platform that you use and their gas fees. For example, if you make it on Ethereum, then you will likely pay less than $100.
Some site fees are around $300, but some will also let you list it for free. You can find free platforms by looking for ones that allow lazy minting.
This will let you generate metadata for your NFT without needing to create any actual tokens of the NFT. This way, the NFT is officially made when someone buys it, and they then pay the gas fee.
Learn More About How Are NFTs Made?
Now that you know the answer to the question: “How are NFTs made?”, you can create your own.
These steps will help you create your own NFT, but you may want to learn about other cryptocurrency investments.
Check out our other articles to learn more about about cryptocurrencies and how you can invest into digital assets.