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How To Create An NFT? The Ultimate Guide

How To Create An NFT? The Ultimate Guide

The meteoric rise in popularity of NFT has attracted a lot of artists to this market. Today, many of them are wondering how to create NFT to earn money. Unlike what you might think, the process of creating these unique assets is simple and accessible. Indeed, NFT marketplaces have increased their efforts to make it easier for artists who are taking their first steps in the world of crypto art.

How To Create An NFT

With all the tools available online, anyone can create an NFT today, without any technical know-how. In this guide, you will learn about what NFTs are, as well as their different types. You will also learn how to create and sell NFTs on the marketplace of your choice.

The universe of NFTs

NFTs are a great way to protect scarcity and prove ownership of digital and tangible assets. This technology is a great option for digital creators who want to monetize their work, without having to go through the traditional circuit of the creative industry. Moreover, it is so easy and safe to sell digital content online by attaching it to a blockchain as a non fungible token (NFT). Today, artists around the world can create NFTs and benefit from the unwavering support of an international network of collectors.

Over the past few years, the number of users has grown exponentially on NFT marketplaces like OpenSea.

universe of NFTs

According to Statista, popular marketplace OpenSea has sold over $ 10 billion worth of NFT since its launch.

universe of NFTs

Some of the biggest NFT sales

In early 2018, Cryptokitties became one of the first projects to bring attention to the world of NFTs. The game has seen smashing success in such a short period of time, especially after the news that CryptoKitties were selling at record high prices on the blockchain.

During this time, an anonymous user had managed to sell a CryptoKitty for a staggering sum of $ 172,000. The sale had caused severe congestion on the Ethereum blockchain, shedding light on the inefficiency of the network and its inability to scale. Since then, the universe of non-fungible tokens has grown beyond anything imaginable.

Explore the world of NFTs

NFTs can seem complex to people new to the crypto world. Fortunately, there are some great tools that make the process of exploring and discovering these amazing digital assets easier.

With that said, it's important to know that anyone who wants to get into the crypto art business must have two things: a goal and creativity. You may not have the talent or creativity of Leonardo da Vinci, but if you have some original ideas in mind, you can start creating NFTs.

This guide could also be a good starting point for artists who have Beeple style works in their digital studios, and would like to turn them into NFT art. This is because the process of creating a non-fungible token doesn't have to be complicated, expensive or too technical. Anyone can learn to create NFTs and digitize their art.

What are the different types of NFT?

An NFT is a crypto version of a tangible real world item or digital asset hosted on the blockchain. Therefore, an NFT can represent anything.

The most common types of NFT on the market are:

  • Digital art and images
  • Music
  • Videos
  • Game elements
  • Collectible cards
  • Sports moments or events
  • Domain names
  • Memes
  • Virtual fashion items

What Is Crypto Art And How Does It Work?

Art NFTs are the most popular type of non-fungible tokens. They allow artists to sell their finest works online as crypto art. Currently, most of the most valuable NFTs are digital art NFTs.

Some famous NFT artists have sold their crypto art for exorbitant prices that rival or even exceed physical works of art. For example, an NFT collector paid $ 69.3 million for the digital artwork “Everydays” by Mike Winkelmann (also known as Beeple). This NFT, which is the most expensive in history, was sold by auction house Christie's. Beeple's “Everydays” is a collection of 5,000 drawings that represent each day for the past 13 and a half years.

And this is just one of the many NFTs that have passed the million dollar mark. Nonetheless, many NFT artists have managed to set themselves apart with extremely successful collections, which did not require complex technical or artistic work.

Indeed, hundreds of NFTs currently sell for several thousand dollars, including those from Bored Ape Yacht Club and CryptoPunks.

The CryptoPunks collection contains 10,000 pixel images of Punk characters. This collection, which was launched in 2015 on the Ethereum blockchain, and which has been a huge success with collectors, is one of the first generative digital art projects. Each of its NFTs stands out with features that distinguish it from other items in the collection.

What are NFT Video ?

Like crypto art, video NFTs are on the rise in the collecting community. Indeed, GIFs and short videos are more and more requested by NFT followers. A 10-second looping video titled “Crossroad,” made by Beeple, which depicts a naked Donald Trump lying on the ground, sold for $ 6.6 million.

However, the NBA Top Shot capsules are one of the most notable NFT achievements to date. Indeed, the collection of the world's premier basketball league has even been one of the catalysts for the hype around blockchain-based art. Some NFTs in the collection illustrate the highlights of matches, with digital representations and different angles. For example, LeBron James’s spectacular gaming action NFT sold for $ 200,000. Dapper Laps digitizes the licensed NBA videos.

Some people compare the NBA Top Shot collection to traditional collectible cards. However, be aware that NFT technology allows people to trade and collect rare items while having fun, without the risk of theft or damage to their assets.

In the case of NBA Top Shot, NFT collection holders will soon have the opportunity to enjoy their favorite clips in real life, thanks to a league partnership with Infinite Objects.

What are Music NFT?

As explained earlier in this guide, almost all art forms can be tokenized. All music, artwork, lyrics, applications, files, as well as real objects (such as concert tickets or unique products) can be accompanied by their own NFTs. This offers artists and content creators new ways to share their experiences with their audiences.

For example, in March 2021, the band Kings of Leon released their latest album titled “When You See Yourself”, as NFT. The pack cost $ 50 and included an animated cover and a limited edition vinyl record. Those who purchased it automatically entered a raffle for VIP concert tickets and other freebies.

You can create most tokens of this type in NFT marketplaces. Note that the method is quite simple and will not take more than 15 minutes of your time. In the next section, we'll walk you through this process step by step.

How to create an NFT?

To get started, you need to choose a platform to create and sell your NFTs. Next, you'll need a crypto wallet to issue NFTs, pay fees, and receive cryptocurrency payments, in case you sell your creations.

Today, there are many online platforms that allow you to create and sell non-fungible tokens. In this demonstration, we will be using OpenSea, which is the # 1 auction marketplace in the market.

1- Create an image or a series of images

The first thing to do before learning how to create an NFT is to identify the original digital asset that you want to tokenize. You can use it as a meme, GIF, cartoon, or any of the types mentioned earlier in this guide.

Keep in mind that an NFT is a digital exclusive item that can only have one owner at a time. Also, keep in mind that most of the NFT collections shown on platforms like Rarity, are categorized by their rarity, which helps judge their value.

While it may seem obvious, it's important to have the intellectual property rights to the item you want to turn into an NFT. This is because you will be in legal trouble if you create the NFT of an item for which you do not own the intellectual property.

2- Choose the best NFT marketplace

In order to find the most suitable platform for your NFT, you will need to do extensive research on all the marketplaces that interest you. Indeed, each marketplace has its own features and its own registration fees.

Once you have chosen the digital artwork that you want to convert to NFT, you will need to find a platform that will allow you to host your crypto art on the blockchain and then sell it.

Some of the most popular NFT marketplaces include:

  • Mintable
  • Rare
  • OpenSea

For the rest of this guide, we'll be using the OpenSea marketplace, but the same steps apply to all platforms. Please note that registration is free and there is no limit to the amount of content you can list. This means that you can start selling your work as an artist on the platform without approval. But beware, this also means that the marketplace is filled with digital items that will never be purchased.

3- Configure your wallet

Once logged into OpenSea, click on the User icon (top right) then click on Profile. On this page, you will be able to connect your Ethereum wallet to the marketplace.

OpenSea allows users to connect most of the most popular crypto wallets including MetaMask, Coinbase Wallet, Fortmatic, WalletConnect, etc.

Now select the wallet you have from the list. Then, follow the steps to confirm your wallet connection.

Be aware that there are many options, but in this guide we'll be using MetaMask to show you how to create an NFT.

4- How to create your own NFT ?

Step by step instructions for uploading your digital file will be explained to you by the marketplace. Here, we'll walk you through how to create an NFT, or in layman's terms, how to turn your digital art into a non-fungible token that can be sold.

Issuing NFT is the process of turning a digital file into a crypto asset on the blockchain. Note that it is not possible to modify, delete or edit a digital asset registered on the blockchain.

As of October 2021, NFT platforms have stopped charging creators for the issuance of NFT upon creation. Instead of storing data on the blockchain right after creation, NFTs are now issued at the time of purchase. Therefore, it is the buyer who pays the gas costs when purchasing the asset.

Note : NFT's publishing process is free on platforms such as  OpenSea, Rarible, and Mintable.

Creators of crypto art can create NFTs without having to pay gas fees. However, tokens are only stored on the blockchain after the first transfer or purchase. Indeed, the ERC-1155 standard which is used for NFTs was created via the Collection Manager tool of the OpenSea marketplace. It allows users to avoid gas charges when issuing their NFTs.

Back to our subject! After connecting your ETH wallet to OpenSea, you can create your first NFT. To create a collection, click on the Create button in the top menu.

create your own NFT

Then fill in all the fields and then save. Now you can start broadcasting your first NFT. Click New Item to upload your creation and provide all the details. Once you are ready, click on the Create button.

Congratulation ! You have just created your first NFT and you can now sell it on the OpenSea marketplace. Now you can select the Ethereum network tokens that you will accept as a payment method. In addition, you also have the option of selling your crypto art at auction or at a fixed price. The sales page will also allow you to set royalty fees. Although issuing an NFT on OpenSea is free, listing it for sale requires a 2.5% service charge.

5- Fill your wallet with ETH to list your NFT

All of the marketplaces mentioned above require an upfront payment to list your NFT. Fees vary from platform to platform, which is why every crypto art creator should do their own research to find the one that best suits their needs.

But at the end of the day, all users are required to pay a fee in cryptocurrency, to list the digital asset and initiate their sales. This means that you will need to purchase cryptocurrency before you can start generating crypto earnings. Most marketplaces, including OpenSea, charge fees in ETH, Ethereum's native cryptocurrency. This is completely normal, as NFTs are created on the Ethereum blockchain.

This is what the page that allows you to list your crypto product on the marketplace looks like. As you can see, the platform will ask you for gas fees payable once, in order to initialize your wallet.

Note that OpenSea allows artists to create NFTs on the Polygon network. However, most choose Ethereum because it is the network that hosts the most non-fungible tokens so far.

Before taking the next step, make sure you have enough ETH in your wallet.

6- Configure the sell options of NFT

Now that you know how to create an NFT, you need to organize the sales process.

In OpenSea, click on the Account icon (top right), then on My collections. Here you will find your most recent NFTs. Next, click on the collection of your choice, then on the NFT you want to sell. Now click on the Sale button at the top right.

You can, depending on the platform you use, choose:

  • A fixed cost: establish a fixed price and thus sell your item on a first come, first served basis.
  • A timed auction: the asset will be sold to the highest bidder and the duration of the sale will be limited.
  • Unlimited auction: No time limit will be set. However, you can close the auction at any time.

If you decide to hold an auction, you must set a minimum price. In addition, you will be required to set a royalty fee in order to receive regular payments in the future. In case you choose the timed auction, you need to determine its duration. Finally, you need to factor in fees when setting up the minimum bid for your product. If you set a price too low, you risk losing money on your sales.

The fees required to issue or sell an NFT are often high and complex. Note that there may also be a commission on the sale and transaction fees for transferring money from the buyer's wallet to yours. Due to the volatility of cryptocurrency prices, these fees may change. To make sure you sell your NFT at a price that will cover all costs, you need to be careful with the costs of issuing and selling.

Once this process is complete, your NFT will be listed on the platform of your choice and people can start purchasing assets from your collections. If your work is original enough to grab attention, you probably won't have a problem selling it.

Creating an NFT has never been easier

You now know how to create an NFT and you are probably surprised at how simple the process is. It is in fact, thanks to this facility that NFTs are gaining popularity and fetching high prices. Thanks to blockchain technology, artists who enter the crypto art can generate significant income.

Having said that, it is important to know that you cannot sell just any NFT. In addition, some NFTs make little or nothing for their creators, due to all the costs associated with selling on an NFT marketplace. To avoid losing money, be sure to sell NFTs that other people will like and set a minimum price that, at a minimum, will cover all costs incurred in issuing and selling.