Understanding How to Create NFTs

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This year, the cryptocurrency market was led by many innovative crypto assets including Non-fungible tokens or NFTs as the name suggests, this is an asset on the blockchain which could represent anything intangible for example a piece of some art, an in-game item, a picture in the form of a unique digital item. It all started back in the year 2012 when Bitcoin Colored Coins were introduced and crypto users did not know how to create NFTs. Now NFTs are one of the hottest trends in crypto that can be found everywhere in the market these days.

These collectable digital pieces give users full ownership of the item they represent. Due to its versatility, developers can now create an NFT out of any type of digital piece such as

  • In-game virtual items like weapons, structures, skins, avatars etc.
  • Music
  • Art pieces
  • Collectible digital trading cards
  • A piece of virtual land
  • A short-form video of an iconic sporting moment
  • Tokenized form of any real-world item like designer sneakers, real estate and even cars.

The process of creating NFTs is quite straightforward if one is looking to turn their artwork, image, or even GIF into a non-fungible token. You do not need to possess extensive knowledge regarding the crypto industry if you wish to know how to create NFTs. not many people are aware of the fact that NFT artworks can be used as a collectable resembling a set of digital cards.

The following points are important for one to know before they create their own NFTs

  1. The first thing to do is decide the blockchain that you would be used to issue your NFT. Ethereum is usually the primary choice of all NFT developers since forever but luckily, nowadays, people have more options like Binance Smart Chain, Flow, EOS, Cosmos, etc.
  2. All of the blockchains mentioned above have unique NFT standards and are compatible with different kinds of wallet services as well as marketplaces for buying/selling. Any kind of cross-functionality is not currently available for NFTs meaning if it’s Binance Smart Chain-based then you cannot sell it on V3, owned by Flow.

If you wish to know how to create an NFT on the Ethereum blockchain then follow these steps

Step 1: finding the main Ethereum NFT marketplace should take precedence over other things because a lot of these marketplaces offer help in creating an NFT to their registered artist. OpenSea, Rarible, and Mintable are some of the leading Ethereum NFT marketplaces.

Step 2: choose the create option on OpenSea/Rarible and it would ask you to connect your Etherum wallet. Entering the unique password ensures that your wallet is automatically connected with the marketplace.

Step 3: once the wallet is connected, you can choose the create option again and then upload your artwork, including a nickname, and a brief description also. Take as much time as you need during this step because choices made here cannot be altered.

Step 4: your collection would require an image and once you have assigned that, you will need a banner image. A banner image to the page can be selected easily by clicking on a pencil icon at the top of your screen. Once this is done, your collection is ready.

Step 5: simply open your collection and add a new item by signing another message using your Ethereum wallet. That would send you to a new window where one can finally upload their NFT image, or audio, or a GIF, or even 3D-based model.

Step 6: normally, your work is done up until this stage but being the leading NFT marketplace, OpenSea offers a lot of options where you can add special features to a non-fungible token created using their platform. These features can make your NFT even rarer and thus increase scarcity which also raises its value in the market.

The reason why we have discussed Ethreum blockchain and OpenSea’s NFT marketplace is due to the fact that it is cheaper and far more reliable than other alternatives available in the market. It costs almost nothing to create an NFT but that depends on which platform is an artist using and whether they levy a fee or not.

 

 

 

 

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