How to create an NFT: a simple guide for beginners
You’ve likely heard tales about obscure individuals who developed NFT tokens or entire collections of NFTs and then unexpectedly got extremely wealthy by selling them for astronomical sums of money. Sultan Gustav Al-Ghozali, a common Indonesian student, is one example who sold his pictures on the OpenSea NFT platform and made $1 million. The NFT’s photo collection of Gozali gained interest from local celebrities. We’ll go through where and how to make your own NFT token in detail in the reading.
Some NFT background
The globe experienced a true NFT boom in 2017 as the acceptance of non-fungible tokens skyrocketed. They fetch high prices from celebrities and digital artists who sell and buy them.
NFTs are sometimes referred to as digital art, but they may also apply to regular sculptures, paintings, music, poetry, and other items that can be captured before being tokenized.
NFTs can even result through text messages or social media posts. For instance, the first SMS in history was sold as an NFT token in December 2021 for €132,000, while Twitter founder Jack Dorsey made $2.9 million by selling the first tweet as an NFT.
So what is an NFT token?
A non-refundable token, also known as a non-fungible token, is a special document that attests to the ownership of a digital asset. An NFTs may transform into nearly anything, including a picture, a GIF, a movie, etc.
Non-fungible tokens are protected by blockchain technology. NFTs transactions were initially exclusively made on the Ethereum network. They are currently also possible on other networks, such as Tron, Tezos, Binance Smart Chain, and Polkadot. All computers linked to the cryptocurrency network contribute information about the NFT sale at the moment of the transaction to the main chain. This information acts as a certificate of authenticity for the token since it cannot be altered or erased. ERC-721 is the traditional specification for an NFTs token on the Ethereum network. It is important to create a unique smart contract for each NFT that adheres to this standard. A smart contract is a specialized algorithm made to produce and maintain ownership data.
What you need to create an NFT
You must first have the thing or object that you intend to convert into an NFTs token. Second, you need a bitcoin wallet in order to construct an NFT (for example, MetaMusk, Trust Wallet, or Coinbase Wallet). There must be enough cryptocurrency in the wallet to cover the cost of producing a token.
A list of cryptocurrency wallets that are supported by the popular OpenSea platform for producing NFTs tokens can be seen below. It will be covered briefly afterward.
Where to create an NFTs
An NFT may be made by anyone if they so want. There are specialized platforms for this that operate on several blockchains. Among these, OpenSea, Treasureland, BakerySwap, and others are the most well-liked. The decision mostly depends on the requirements for generating NFTs on it and the ease of the interface, though generally speaking each of the sites is intriguing in its own way (specifically for you).
One of the most well-known platforms of this type is OpenSea. On OpenSea, the ERC-1155 standard is used to produce custom NFT tokens for free (not for sale).
If you build your NFT or NFTs collection with the intention of selling them later, a commission will be taken out of your cryptocurrency wallet when you upload tokens to the market.
You are able to manufacture and sell NFT tokens for nothing using the Treasureland platform. The person who purchases your work will pay for all expenses. Only if you transfer the token you made to someone else will you be required to pay a commission.
You can only build your NFT on BakerySwap if you pay a cost of 0.01 BNB ( Binance Coin ).
How to create an NFT
On each of the aforementioned systems, the algorithm for producing NFTs is essentially the same. The supported currencies and wallets, as well as the website interfaces, are the only things that might be different.
As a result, you must first register on the chosen website or proceed with a crypto wallet’s authorization process (we did this on the OpenSea site using the MetaMusk wallet).
You must choose the Create option after registering or receiving authorization. When this page loads on OpenSea:
Here you will need to upload the digital object that you plan to make an NFT, come up with a name for it, and add a description. After completing these simple steps, click the Create button at the bottom of the page.
That’s all – your own NFT token is ready. You are now free to use it in whatever you like. For example, put it up for sale on the marketplace or send it to another user.
Create an NFTs collection on OpenSea
On the OpenSea platform, an NFTs collection may likewise be produced. To accomplish this, choose My Collections from the account menu, then click Create a collection and complete the fields on the next page.
You must provide your collection with a name, a description, and a category, and add a logo and cover (Logo image, Featured picture, Banner image). Click the Create button at the very end. It will be able to add pre-made or brand-new NFTs tokens to the collection after it has been formed using the platform.
FAQs – NFT
Please bear in mind that the material in this article is not financial or investment advice. The information in this article is strictly the author’s opinion and should not be interpreted as trading or investment advice. We make no assurances about the completeness, trustworthiness, or accuracy of this content. The cryptocurrency market is notorious for its tremendous volatility and irregular moves. Before investing, any investor, trader, or the regular crypto user should perform comprehensive research and get familiar with any local regulations.
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