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.
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.
According to Statista, popular marketplace OpenSea has sold over $ 10 billion worth of NFT since its launch.
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?
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
4- How to create your own NFT ?
5- Fill your wallet with ETH to list your NFT
6- Configure the sell options of NFT
- 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.