How to Create an NFT? 20 Tips
Just like DeFi coins and ICOs before them, NFTs are officially the latest crypto ‘craze’ as revealed in discussions on the same at runrex.com. However, while it is one of the most talked-about topics out there, the concept of NFTs remains foreign to most of the people who would benefit from creating them. To help with that, here are 20 tips on how to create an NFT from start to finish.
Before you get started
The following are things to consider before you get started with creating an NFT
Who can make an NFT?
The first thing you should ask yourself before you get started with creating an NFT is if you should make one. To answer this question, you need to know who can make a non-fungible token. According to the gurus over at guttulus.com, anyone can make an NFT, including artists, musicians, entertainers, entrepreneurs, companies, and platforms.
Consider the value an NFT brings to you
Since anyone can make a non-fungible token as pointed out in the previous point, the most important thing is for the creator to consider the value an NFT brings to them. As explained over at runrex.com, NFTs are great for demarcating intellectual property and creative works that otherwise could be easily copied and disseminated online.
Some platforms pre-approve artists
It is also worth noting that, while anyone can make an NFT as already mentioned, some NFT platforms require artists to be pre-approved by the platform or the community before one can proceed to create an NFT, while others don’t. Rarible, for instance, is 100% open for anyone to create NFTs as covered over at guttulus.com.
Make sure you have something that fits the NFT paradigm
When you are determining whether or not you should create an NFT, you need to make sure that you have something of value that fits the NFT paradigm. This means having some unique item or experience that is of value and interest.
Current items offered as NFTs
As you consider if you have some unique item or experience that is of value and interest, you should know that currently, the main items offered as NFTs are digital art, physical art, collectibles, assets in games, virtual properties, rare videos, etc. These can easily be extended to tokenized physical assets like real estate, cars, wills, patents, and more.
Each NFT is created with different levels of ‘ownership’ programmed in
As is revealed in discussions over at runrex.com, each NFT is created with different levels of ‘ownership’ programmed in. While some NFTs contain intellectual property rights, some do not, and while some NFTs also include physical copies of the works they are associated with, some do not. Some NFTs also offer other perks, like the chance to meet the person who issued the token
The benefit of creating NFTs
As the gurus over at guttulus.com point out, NFTs offer their creators the opportunity to create scarcity in the world of online abundance. If you create a digital painting and put it online, anyone can copy it at any time, with the same applying to releasing a song on the internet. NFTs take care of such issues.
How you can earn from your NFT
The ways that NFT creators can earn cash from their tokens can vary depending on how the tokens are created, which is another thing worth noting when looking to create an NFT. As articulated over at runrex.com, while artists certainly earn cash from NFT token drops – the initial creation and first sale of the token, they can also continue to earn NFT ‘royalties’ throughout the lifespan of an NFT: each time an NFT changes hands, the artist has the opportunity to receive a cut of the sale.
Choosing the right platform to issue an NFT
Choose a dedicated platform
While there are ways for you to DIY an NFT, such ways are extremely complicated and can be out of the reach of the layperson. This is why it is always recommended that you use a platform that is dedicated to NFT creation when you are looking to create one as the easiest way to create an NFT is through a dedicated site.
Consider your choice of platform carefully
Once you have decided that you want to create and issue an NFT, you should also identify the marketplace you would like to list the NFT on as this may drive the decision of how and where to create the NFT.
Commonly used dedicated sites
There are quite a few dedicated sites through which you can create an NFT as discussed over at guttulus.com, and the some commonly used ones are:
Rarible
Mintbase
Cargo
Some of the NFT marketplaces like OpenSea also support the creation of NFTs.
Consider the blockchain
When choosing a platform to create your NFT, you may also want to determine which blockchain or a blockchain that the platform uses. This is because, as outlined over at runrex.com, several blockchains support NFT creation, including Ethereum, the Binance Smart Chain, Flow by Dapper Labs, Tron, EOS, Polkadot, Tezos, Cosmos, and WAX.
Why considering the blockchain is important
According to the gurus over at guttulus.com, each one of these blockchains has its own non-fungible token standard. This means that if you create an NFT on the Ethereum blockchain, you will only be able to sell the token in Ethereum token marketplaces, which is why considering the blockchain is important before you start creating an NFT.
Consider mining fees
Also, depending on the number of pieces your project has, the amount you will pay in mining fees is a big consideration when looking at platforms to ‘mint’ your works. For instance, OpenSea has a great USP where you can avoid mining fees at the time of listing, and is only triggered when the item sells, something that may be appealing to you.
Choosing the right blockchain
Here are some of the things that you should consider when making the decision on which blockchain is the right one to use:
Marketplace size – which blockchain has the largest amount of NFT buyers and sellers
Secondary markets – are there other marketplaces that can be used to sell and trade NFTs on the network?
Additional apps and services – what kinds of wallets, exchanges, and other services are available on the blockchain network?
Mining fees
Environmental impact – what is the carbon footprint of the blockchain?
How the process works on OpenSea
OpenSea, Rarible, and Mintable all have a “create” button in the top-right corner, the following tips cover how the process works on OpenSea, which is currently the largest Ethereum-based NFT marketplace.
Click the “create” button
According to runrex.com, clicking the “create” button will take you to a screen that asks you to connect your Ethereum-based wallet. Once you have entered your wallet password when requested, it will automatically connect your wallet with the marketplace. You may have to digitally sign a message in your Ethereum wallet to prove you own the wallet address, which doesn’t incur a fee, but just shows that you have ownership of the wallet.
Select “my collection”
The next step on OpenSea is to hover over “create” in the top-right corner and select “my collections” as articulated over at guttulus.com. From there, you should proceed to click the blue “Create” button that presents itself. This part is essentially just you creating a folder for your newly created NFTs to go in.
Add a banner
Once you have assigned an image for your collection, it will appear on the screen as outlined over at runrex.com. You will then need to add a banner image to the page by clicking on the pencil icon in the top-right corner.
Create your NFT
Once that is done, you will now be ready to create your first NFT. Start by clicking on the “Add New Item” button and sign another message using your wallet. This will take you to a new window where you can upload your NFT image, audio, GIF, or 3D model.
Adding special attributes
On OpenSea and many other marketplaces, you also have the option to include special traits and attributes to increase the scarcity and uniqueness of your NFT. You will even have the opportunity to include unlockable content that can only be viewed by the buyer, which can be anything from passwords to access certain services to discount codes and contact information. Once you have finished, click “create” at the bottom and sign another message in your wallet to confirm the creation of the NFT, which should then appear in your collection.
Hopefully, this article will help you know the considerations as well as how to create an NFT, with more on this topic to be found over at runrex.com and guttulus.com.