How to create an NFT in 6 steps

October 25, 2022 – 8 am

After all, how do you make an NFT? This is a question that is becoming more and more popular as non-fungible tokens become a fact of people’s lives – as well as an investment option.

And as the digital world expands, so do new forms of ownership.

NFTs expanded significantly in 2021 by accumulating more than $23 billion in trades last year, according to dab radar.

For this reason, companies that want to innovate and stand out in the market are looking for tips on how to create an NFT.

While this process requires some understanding of blockchain technology, you can learn the basics with the following six steps.

What are NFTs and how do they work?

Before learning how to create an NFT from scratch, it is important to be clear about what this crypto asset is.

NFTs, short for Non-Fungible Tokens or Non-Fungible Tokens, are digital assets with unique identification and ownership capabilities on the network. blockchain.

In the video, Katarina Papa, from Unblock Capital, and Hilbert Costa, from Play9, explain what NFTs are and how they work, as well as how they differ from other tokens:

Basically, non-fungible tokens differ from traditional cryptocurrencies like Bitcoin because they cannot be exchanged for another similar NFT.

This is exactly what makes them so desirable as collectibles or as proof of ownership of digital assets such as works of art or virtual real estate.

NFTs also have programmed functions that allow you to act out specific actions, such as purchasing concert tickets or accessing a specific video game item.

A recent example came from an organization Rock at Rio 2022who created NFT bracelets as a free gift that visitors can redeem.

However, the main reason behind the popularity of crypto assets is the value at which many of them are traded. It is determined by the market, just like physical holdings or pieces of art.

Blockchain technology ensures secure and verifiable ownership of every NFT, making them useful across many industries, from entertainment to real estate.

All of this explains its expansion over the past year, spawning groups like CryptoPunks, Bored Ape Yacht Club (BAYC), and Art Blocks.

Hollywood stars, digital influencersAnd sports celebrities and big companies like Coca-Cola, Gucci, Nike, and Adidas have made their mark in the space, giving NFTs a different level of exclusivity.

In other words, it is an innovation that is already attracting Great brand investment.

How do you make an NFT from scratch? Complete step by step

The good news is that anyone can create an NFT — all you need is a computer. Check out the step-by-step guide to understand how to get into the cryptocurrency wave.

First Step: Create a digital wallet

The first step is to create a digital wallet. This is where the user will concentrate their cryptocurrency and where they will eventually get the money if they sell the NFT.

Here, it is worth paying attention to wallets, of which there are many in the crypto world.

One tip is to look for NFT wallets, such as AlphaWallet or Trust Wallet.

The second step: regulating cryptocurrencies

Now, it is important to regulate cryptocurrencies. After all, the NFT is based on blockchain technology – which means that the cryptocurrency to buy or fund the NFT will depend on the blockchain being used.

The most popular, in the case of non-fungible tokens, is Ethereum. Polygon is also a name that is gaining traction in this market.

At this point, it is common to ask how much it costs to create an NFT. The answer depends on the market where they will be listed, the blockchain chosen and the tools needed to create the widget.

As mentioned, Ethereum is very popular, but it charges a lot of transaction fees.

However, there are technologies, such as Polygon, that do not charge NFT artists, but deduct an amount from the sales made.

Step Three: Connect the digital wallet to the marketplace

The marketplace is the virtual store where the NFT will be advertised – and it must be connected to the digital wallet.

There are several on the market today, with OpenSea as the main name. One of its main advantages is that it accepts transactions in many different cryptocurrencies.

Here, it is worth remembering to review the market’s policies regarding NFT sizes and shapes, transaction fees, and any other amounts that may be charged.

In the case of OpenSea, there is also a 2.5% fee on the value of each NFT traded.

Fourth Step: Submit the file or create the group

Creating the NFT itself can be simple or complex, depending on the purpose behind the piece.

A simple PNG file, such as a screenshot of a meme or tweet, can be marketed as an NFT.

However, there are more complex parts that use 3D rendering, eg.

With the non-fungible token ready, just upload it to the marketplace and advertise it.

Step 5: Determine the price and characteristics of the NFT

Pricing can depend on the value or uniqueness of the digital asset associated with the token, as well as market demand.

Next, you need to define the properties of the NFT, which includes deciding on ownership and transferability.

It is possible to change the sale process of the lot, depending on the market possibilities, such as setting a fixed price or even creating an auction.

Step Six: Verification Process

Finally, you need to check the NFT info, price, and advertise the lot on social media.

One tip is to get involved in communities of fans of the topic, whether on Twitter or Discord, for example.

After all, is it worth creating an NFT?

For artists and companies, non-fungible tokens prove to be an opportunity to tap into one of the possibilities of the crypto world.

Understanding how to create an NFT is a promising path for those who want to establish themselves in this field, expand the horizons of their art or brand and turn a profit.

And despite some complexity, it is entirely possible to enter this world, create an amazing digital asset and take part in a revolution in the market.