No need to be confused anymore, here's how to make a 2023 NFT
aroundknowledge.co.id – How to Make NFTs – Non-Fungible Token (NFT) is getting a lot of attention lately. This is not surprising, especially when you hear about artists who have made tens of millions of dollars selling a single NFT.
Looking at the market, NFTs have skyrocketed in the last year alone. According to investment bank Jefferies, the NFT industry will reach a value of $80 billion by 2025. But what is an NFT and how do you create one?
This concept can be a little confusing to understand. But don't worry. We'll walk you through all the basics you need to know and the steps to setting up and creating your own NFT.
What are NFTs?
NFTs are digital assets whose unique ID is stored and verified on the blockchain (digital ledger). Each NFT is non-fungible and cannot be easily exchanged for other assets of similar value. Common NFT assets include images, videos, music, GIFs and collectibles.
NFTs have value because there is only one version of the asset created. This means that an NFT can only have one owner at a time. No one can change ownership or make NFTs identical on the blockchain. Given this scarcity, the NFT creator/owner can set his own rates for his assets.
How to Make the Easiest NFT
Now for the meat part. Let's go through the basic steps for how to create your own NFT. Keep in mind that this is not a comprehensive guide. Depending on the tool you use, there are different ways to do this, so use these tips as a general guideline.
1. Determine the Type of NFT You Want to Create.
Versatile NFTs. There are many options to choose the type you want to make. Options include artwork, event tickets, memes, media and music, games, virtual goods and more. You can also create NFTs for real-world items, such as prized collectibles or photos signed by celebrities.
They are often image, audio or video file formats such as JPG, PNG, MP4, MOV, etc. If you decide to create a simple NFT, you don't need a developer.
However, if the NFT is a more complex item such as a game or has complex smart contracts (terms of sale), developer assistance may be required.
When creating your first NFT, think about how you can provide value to your audience. If you already own a business, you can try creating loyalty cards or exclusive promo codes. And you can always hire an artist to create custom artwork for you.
2. Select NFT Market
There are many NFT marketplaces to choose from when looking for a place to print your work. Each NFT market has its own pros and cons for traders, so you should do your research before choosing. The three most popular are OpenSea, Rarible and SolSea.
This platform makes it easy for new creators to dive into the world of NFTs. Some require you to authenticate or create NFTs on the blockchain, and some like OpenSea and Rarible allow "shortcuts" such as lazy mining.
In lazy printing, some fees can be avoided by not recording the NFT on the blockchain, selling it and then passing the fee on to the buyer.
One of the most important considerations for beginners is cost, which is often referred to as "gas". Each market has its own fees based on its plans for issuing and selling NFTs. For example, OpenSea requires a fee to initialize the account, which can cost up to Rp. 1.5 million in some cases.
3. Cryptocurrency Wallet Setup
The next way to create an NFT is to create a digital wallet to store your cryptocurrency and NFT. An important consideration when choosing a wallet is whether it is compatible with the blockchain and NFT marketplace you plan to use to issue NFTs.
There is no shortage of cryptocurrency wallets, but most NFT creators use the MetaMask browser extension wallet. This wallet is easy to setup and connects to most of the blockchains used to create and trade NFTs, including Ethereum and Binance Smart Chain. Other common wallets are Enjin, AlphaWallet and Trust Wallet.
Note: Most NFT wallets are browser-based, making them as secure as native browser apps. For maximum security, we recommend investing in a hardware wallet like Ledger Nano X. Hardware wallets store offline private keys which are used to manage various NFT coins and assets on the blockchain.
4. Buy Cryptocurrencies Through Exchanges
Once you've created your wallet, it's time to buy cryptocurrency so you can pay gas to issue NFTs. Your best bet is to create an account on a reputable exchange like Binance, Kraken, or Crypto.com. The process is very simple and can be completed on your smartphone.
Now that you have an account, you can log in and buy cryptocurrency. To issue an NFT, you will need to buy Ethereum (ETH) or Solana (SOL) coins depending on the blockchain you wish to issue. Once done, transfer the coins to the wallet you set up in the previous step.
To transfer from exchange to cryptocurrency wallet:
- Enter the exchange.
- Go to the Wallet tab in the top or bottom navigation.
- Tap Withdraw and select the relevant currency.
- Enter your wallet address in the Address field.
- Choose the right network (ERC-20 for ETH, Solana for SOL).
- Enter the amount and press Withdraw.
5. Link Your Wallet to the NFT and Mint Platforms
After charging your wallet, you must connect it to the NFT platform that you will use to create digital assets. I'll explain the steps you need to take (I'll use Rarible marketplace as an example).
- Go to Rarible.com and click the Connect Wallet button in the right corner of the screen.
- Choose a digital wallet (eg. MetaMask) and give Rarible permission to view your account.
- By clicking connect, you agree to the platform's terms of service and age verification.
- Return to the Rarible homepage and click the blue Create button in the top-right corner.
- Choose between making one digital copy of your NFT and making multiple copies to sell the same item over and over again.
- Upload the digital file you want to create as an NFT.
- Next, you will be asked to choose how you want to sell your NFT file. Selling assets while making them is not mandatory. You can also sell after publication and set a floor price.
- Choose whether you want to provide the full high-resolution version of the NFT or add content that cannot be opened via download links or confidential web pages.
- Select Rarible as the NFT collection.
- Add a title and description for your NFT art.
- Determine a certain royalty percentage that you want to receive on secondary sales.
- Specifies file properties, such as color or size, in pixels.
- Click Create Item.
- Authorize transactions in your cryptocurrency wallet (pay petrol fees).
- Click OK > Upload File and Mint Token.
- Check the integration of contracts in your wallet (a small gas fee is charged for smart contract creation).
- Click Wallet Login to sign the sales order.
And that's it. Your NFT is now printed. To find NFTs created, click Profile > My Items. The NFT collection will appear on the screen.
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