NFTs have garnered considerable hype in recent months, paving their way into mainstream culture. It only makes sense that everyone else wants to join the ever-expanding train of NFT creators as well. What are NFTs? And what do you need to know to create one yourself?
Table of contents
- How to Create and Sell an NFT Artwork
- NFT Hype: What Is It All About?
- How to Create Your Own NFT
- The Best platforms to Create Your NFTs
- Legal Issues in Creating and Selling an NFT
- Entering the NFT community with Swapzone
How to Create and Sell an NFT Artwork
Since hitting popularity over a year ago, NFTs have remained a largely discussed topic within not only the crypto community but mainstream media as well. Projects such as Crypto Punks and BAYC have been a considerable part of the industry’s expansion so far. Bored Ape Yacht Club, in particular, has been instrumental in shaping the global perception of non-fungible tokens.
Collections like BAYC unite celebs, experts, and beginners alike into an exclusive community and showcase the continuous potential of NFTs. We’ll be taking a close look at the all the things to consider when creating an NFT, starting with:
NFT Hype: What Is It All About?
To fully understand why NFTs are now almost trendy, we will need to understand some of its basic features. Let’s begin by answering questions about what the non-fungible token is and then perhaps what the hype is all about!
What Are NFTs?
The term non-fungible describes an item that possesses unique properties and cannot be replaced.
This means an NFT cannot be interchanged with a similar counterpart or an asset of equal value. These assets exist on the blockchain and possess a cryptographic signature that distinguishes each token. As a result, this uniqueness is what makes NFTs so valuable. Also, that NFTs exist on a public blockchain makes it possible for anyone to easily verify their ownership and authenticity.
One can also say that purchasing an NFT is similar to buying an original piece of artwork. The buyer, as we all know, also acquires the prestige of that piece once it is bought.
The Origin of NFTs
Although they seem to have materialized in early 2021, non-fungible tokens have been around for longer. Its curious concept began in 2012, though, under a different name. At the time, NFTs got their start as colored coins. These coins were fractions of Bitcoin, sometimes as small as a satoshi that represented other assets.
More precisely, colored coins denoted ownership of various items, both physical and virtual. These include cars, property deeds, company shares, and cryptocurrencies; they even represented digital collectibles at some point.
Understanding The NFT Hype
NFTs are changing the way we perceive ownership and authenticity. While content creators have worried about the preservation of their works since almost the beginning of time, the uniqueness of non-fungible tokens offers creators a novel but secure way to achieve this.
This is not to say NFTs have not been without problems. They have also been leveled with their fair share of plagiarism accusations. Regardless, the potential of the industry is huge. And not only do creators know this, even universities and institutions realize this as well.
How to Create Your Own NFT
The steps to create an NFT of your own are few and relatively simple, and not usually platform-specific. Other times, they are dependent on which particular blockchain you wish to mint your NFTs. As a result, we have addressed this question in detail according to each platform you’d like to mint your NFTs. Before we dive right in, let’s answer some questions you might have.
What Does It Mean to Mint an NFT?
Sometimes we might exchange “creating” for “minting”. Minting is a term that describes how NFTs are created on the blockchain. Minting an NFT means converting the data from the original digital file into an asset hosted by a blockchain network. After an NFT is minted, it cannot be modified or deleted.
What Software Do You Need to Make NFT Art?
The biggest influences in this decision are the form of NFT art you plan to create and your style.
Platforms generally do not police the creator’s choice of software. When selecting software to create your NFT art, consider editing capacity, the available tools, and the template options. Also, creators can use software they are familiar with and comfortable using. Some of the best software to create NFT art are:
- Adobe Illustrator
- Adobe Photoshop
- Corel Painter
- Pixel Chain etc.
Can anyone create an NFT?
This is a frequently asked question, and the answer is yes. Anyone can create an NFT.
A person does not need extensive knowledge of the crypto and NFT space to create their own non-fungible tokens.
However, it is crucial to have a clear set of goals before jumping into the NFT ship. Creators and buyers are flocking to the marketplace driven by FOMO and the excitement of a new type of investment. However, especially of late, as failed collections pile up, investors grow wary and more selective.
The requirements to create an NFT are relatively easy to meet, as discussed in the marketplace sections below. You will need an original creation of yours, say an artwork or a digital file of some kind. Then some cryptocurrency, and a crypto wallet.
Is it Possible to Create NFTs for Free?
One of the most significant barriers to becoming a creator in the NFT industry is the gas fees that drive up the cost of creating an NFT. Several platforms have introduced minting options that allow beginners to create an NFT for free to accommodate less affluent artists.
NFT marketplaces like OpenSea and Rarible offer a lazy minting feature. With lazy minting, creators can skip paying gas fees when creating and uploading their non-fungible tokens. The platforms shift the cost onto the buyers instead. It’s important to note that while making an NFT might be free, the platform still charges a service fee for selling. This way you can initially ignore the cost of setting up while fully focusing on the quality of your NFT.
The Best platforms to Create Your NFTs
Founded in 2017, OpenSea rose quite quickly to surpass existing marketplaces like Cryptopunks. OpenSea supports projects based on Ethereum, layer-2 network Polygon, Klatyn, and most recently Solana.
How to Create an NFT on OpenSea
After completing OpenSea’s free registration, select the user profile by clicking the top-right icon. This page presents users with the option to link their wallets and a list of supported providers such as MetaMask, Coinbase Wallet, and TrustWallet.
OpenSea users can follow the steps to connect an existing address or open a new wallet account through the platform.
Afterwards, you can click on OpenSea’s create button. Follow the directions the platform provides you to upload your digital file, such as your file’s name name and project description.
Additionally, you have an option of customizing your NFT and adding features like unlockable content. OpenSea does not charge a minting fee but takes a 2.5% commission for listing. The popular marketplace, like most ubiquitous ones, allows you to choose which blockchain you’d like to mint on. Hit create after customizing your NFT, and you’re done.
Rarible is an Ethereum-based marketplace with cross-chain capabilities. Within three years of its launch, the marketplace has risen to be one of the foremost digital art galleries in recent times. Rarible supports the Tezos blockchain, alongside Ethereum, Flow, Polygon, and Solana.
How to Create NFTs on Rarible
Minting an NFT on Rarible begins with connecting your wallet to the platform. Rarible’s supported wallet providers include Fortmatic, WalletConnect, Coinbase Wallet, and MetaMask, among others.
Next, after your wallet is connected, choose your preferred network for NFT minting from the array of options offered by Rarible. Once you’re ready, select Create, and you’ll face the option of making a single NFT or multiple tokens.
After deciding, you will have to upload your original digital file before providing other necessary details, including the minting contract. Rarible offers a default contract, or you could create a custom one that oftentimes costs more than usual.
SolSea offers itself as a strong proposition for NFT creators seeking alternatives to the Ethereum blockchain. Well-described as the first marketplace to allow creators to “embed copyright licenses” in their NFTs, SolSea is likewise the most dominant Solana-based NFT marketplace.
How to Create a Solana-based NFT collection
The first step is installing the Phantom wallet and funding it with SOL. Next, head to SolSea and select the connect wallet option; a Phantom pop-up will appear requesting permission to connect.
After linking your wallet, sign up to SolSea. Complete the registration process: navigate to “Create” and hit the “Collection” tab once signed in.
SolSea will require you to fill out details of the collection and also pay minting fees. After uploading your file, you can select the “Mint NFT” option and sign off on transactions. You can also always click “see your mint” to view your minted token.
Decentraland offers quite the richest array of options for NFT creators. A prospective owner can make their music, artworks, images, games, and even in-game items into an NFT, and also sell them. The owner can either do this through Decentraland’s Marketplace or via play-to-earn games like Wonderzone.
How to Create NFTs for Decentraland
Minting NFTs on Decentraland is dependent on one’s need. For example, if one wishes to “build” an NFT structure, one would need to buy a LAND from Decentraland’s many virtual land parcels. The Land can be brought straight from The Decentraland Marketplace or within a game.
Asides from minting on the marketplace, you can also earn free wearable non-fungible tokens in Decentraland’s Wonderzone. To do this, find Wondermine in the Decentraland universe, go up to a “meteor” in-game and select one.
Mining takes a few seconds and costs five wonder coins each time. Once it’s over, return to retrieve your mined items to craft your wearables. However, it’s best to craft other resources first as a beginner.
A pickaxe, for example, will help you mine better items. This is because in Metaverses like Decentraland’s, you’ll need items from the meteor and other tools you make yourself to create fashion out a good wearable NFT.
How to Create NFTs on Cardano
To create NFTs on CNFT.io, you will need either a Daedalus or a Roy wallet containing some ADA tokens. The easy process begins with visiting the site and creating an account, before linking your Daedalus wallet. Next, you can navigate to the minting process to upload your prepared file.
The site will present you with a preview of your tokenized piece; hit the next button to continue. You will have to fill in specific details on the page that follows. Some of these, asides a clear title, are optional. You also have an NSFW option if your content is explicit.
Once you’ve filled all metadata, you can pay a fee to mint the NFT by scanning a code or transferring ADA to a wallet pasted on the page. Double-check all details before clicking send. Your NFT will appear in the wallet from which you sent the funds once this process is over.
Legal Issues in Creating and Selling an NFT
Once you can see your tokenized artworks in your wallet, you are almost in no danger of losing them. All you have to do is keep your seed phrases and login details to yourself. Similarly, the process of transferring or selling your unique NFTs is not complicated at all.
Here are some legal-related questions you might have regarding the minting and sale of your NFTs.
Can You Transfer the Ownership of an NFT?
The short answer is yes. How do you transfer ownership of your tokens?
The sender typically begins by logging into their crypto wallet account and selecting the desired NFT. Next, enter the recipient’s wallet address and repeatedly check each figure to ensure it is the correct address. Also, confirm that the wallet is NFT compatible. Pay the transaction fee; this varies with the blockchain network, and lastly, verify the transfer with Etherscan.
Can You Get Sued for Screenshotting an NFT?
This is a much-debated topic in the NFT community as there is no law against screenshotting an NFT. Some believe it’s fine unless you plan to profit from the photo, as taking a picture of it does not mean you obtain the rights to the asset. Others, however, feel screenshotting an NFT is the equivalent of copyright infringement and even theft. Without explicit permission from the creator, it’s best to avoid taking screenshots of non-fungible tokens.
Entering the NFT community with Swapzone
As you take your first steps to become part of the NFT community, exchange aggregator Swapzone is the perfect place to acquire your crypto. As mentioned earlier, creating your own NFT might call for fees, usually, Ethereum. Also it is usually wise to have some ETH in the NFT space.
Visit Swapzone.io to stock your wallet with some ETH or any other coins.
Select the currency you’d like to send and what you’d like to receive. Swapzone will present you with the available platforms and their rates so you can choose what suits you best. You can see KYC and AML policies for each exchange; review their ratings and pros and cons.
Choose a request and enter your wallet address as the recipient. After this, you will receive the address to which you’ll send the tokens you wish to swap. Once you’ve transferred these, the exchange will begin, and you will receive your tokens in the wallet you submitted.
Welcome to the exciting world of NFTs!