How to Make an NFT on Your Own?

NFTs have exploded in popularity during the pandemic, leading many artists to wonder how to create one on their own. Good thing it’s not as hard as it sounds.

The cryptocurrency boom has stimulated the development of another unexpected trend – NFT auctions. Artists, musicians and representatives of the technological sphere sell digital copies of memes, avatars and video clips for millions of dollars, and it seems that any user can repeat their success. We’ll tell you how to do it.

Is it possible to make millions of dollars selling NFTs?

If you are lucky, you can create a non-interchangeable meme that will become very popular and attract attention. A good example is CryptoPunks. The company has created 10,000 collectible digital avatars and sells them for hundreds of thousands of dollars. Non-fungible tokens, or NFTs, have likely gotten a lot of attention recently.

Mike Winkelmann, often known as Beeple, is a digital artist who made waves earlier this month when he sold an NFT for $69 million. And it’s not just about art. Millions of dollars are being spent on NFT artifacts ranging from sports trading cards and highlight reels to digital houses, augmented reality footwear, and music.

A new sort of digital asset is the NFT. A blockchain — a digital ledger akin to the networks that support bitcoin and other cryptocurrencies — is used to track ownership. Each NFT is one-of-a-kind and cannot be replicated. As a result, you can think of them as one-of-a-kind digital things that no one else has.

People may have a digital image of a piece of art you bought as an NFT, but they do not possess the original. That is what attracts people to them. There’s also the possibility that, due to their rarity, you’ll be able to sell one later for a higher price. You’d do it the same way you’d do it with beautiful art.

NFTs can be purchased in a variety of currencies. You can buy them with a credit card in NBA Top Shot, for example. Other platforms, on the other hand, compel you to purchase using a cryptocurrency.

I’ll teach you how to join the NFT craze right now utilizing the popular OpenSea platform. In case you’re an artist looking to sell anything, I’ll also show you how to convert digital assets into NFTs and sell them.

NFT Overview

Each such NFT-token is unique, and it is proof of the creator’s ownership of the product. The buyer (or author) of the NFT token can dispose of it as he sees fit, and information about it is recorded in the blockchain. NFTs are most commonly created on the Ethereum network, and the ERC-721 standard is used to create them. Technically, these tokens are not much different from the more common ERC-20 tokens; the main difference is that ERC-721 has built-in non-interchangeability functionality to confirm the uniqueness of an asset.

In addition to the Ethereum network, NFT is created on other blockchains – Binance Smart Chain, Tron, Polkadot, Tezos and others.

Before NFT, there was no mechanism that was universally accepted to guarantee ownership of digital assets and register ownership rights in a single registry. Now blockchain allows this, which many people are taking advantage of.

NFT can be used to tokenize not only photos, lyrics or music, but also other virtual items – event tickets, gaming assets – artifacts, skins, weapons and more, and even digital rights.

Where can I create my NFT?

There are several marketplaces where you can buy and sell NFTs. The major ones include OpenSea, Rarible, and Foundation, but there are also organizations that have created their own platforms where they post tokens on their topics. For example, the National Basketball Association (NBA) sells digital collections of highlights of league games on the Top Shot website.

Using opensea.io as an example, we’ll tell you how to make your own token.

Creating Your Own NFT on The OpenSea.io Platform

To create your NFT on the Ethereum platform using OpenSea, we need Metamask wallet How to Setup a MetaMask Walletas a browser extension (the choice of compatible browsers for it is small – Chrome, Firefox, Brave, and Edge). We did it using Chrome as an example. The wallet should have money in it.

  • Go to opensea.io.
  • Open your Metamask wallet
  • In the top right corner of the home page click 'Create'
  • On the opened page in the field, marked with a dotted line, we will put our file, that will be used for NFT creation. The system accepts only JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB and GLTF files. The maximum file size - 40 MB. name your creation, give a description (if necessary) and also give the name of the collection.
  • Then click 'Create' and your token is ready!

But in order to put it for sale, you need to do some more actions.

  • Click the Sell button in the upper right corner, and the system will redirect you to the Sell page.
  • Here you set the price of your work, the final price (lower than the quoted price, in case the buyer is absent for a long time and someone wants to buy it cheaper, and other options. By the way, please note that the system will charge you a 2.5% commission at the moment you sell your token. By the way, you can sell your token at the auction, as well as for a fixed price.
  • Click Post your listings. The system will immediately contact the Metamask wallet and ask for its initialization. This is a one-time payment, which in our case was 0.013 ETH.
  • Next we confirm the token in our wallet and confirm the transaction. After that, your token will appear in your wallet, which will also be put up for sale in opensea. Once a buyer is found, that token is moved to the buyer's wallet and you get paid for it.

Who can monetize their talents

NFTs are a good way to make money for people with an artistic vision. So, there’s a big field of work here for designers, artists, gif creators, and even writers. You can turn to NFT cool shots of photos – the ones that a good photographer can make (and see);

  • unusual and conceptual drawings and images (for people who know graphic tools and have good taste);
  • training courses in the form of PDF presentations and images (why not)?
  • know-how – instructions on how to make something with your own hands;
  • interesting itineraries for tourists and travelers in the form of images on maps;
  • rare clippings and quotes from newspapers and magazines (or magazines in their entirety);
  • commemorative tickets to events;
  • autographs of celebrities;
  • and more.

With the fashion for NFT and the development of crypto, the demand for such things will grow.

 

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