How to Create an NFT: A Beginner’s Guide

What is an NFT?

  • It cannot be copied
  • Another token cannot replace it
  • It comes with a unique code that differentiates it from other digital replicas
  • It gives you the ultimate ownership right of a digital asset
  • It can help people verify the ownership of a digital asset

Understanding NFT

How does an NFT Work?

  1. Creating a new block
  2. Validating information
  3. Recording information into the blockchain
  • Digital art
  • In-game avatars
  • Event tickets
  • Collectables
  • Domain names
  • Signatures
  • Legal documents
  • Presence of a unique identifier linked to the blockchain address.
  • A verifiable ownership
  • NFTs can only be traded via a blockchain-based NFT market

Why are NFTs Relevant?

  • Boost earnings for content creators
  • Own digital assets
  • Enhance gaming experience with in-game assets
  • Improve your brand awareness among target groups

How to Create & Sell an NFT?

  • OpenSea [Ethereum]
  • AtomicHub [Wax blockchain]
  • Rarible [Flow blockchain]
  • MetaMask: It is a wallet supported by Ethereum-based marketplaces like OpenSea, which can be used as a Chrome / Firefox extension or iOS/Android app.
  • Coinbase Wallet: A crypto wallet compatible with blockchains like Ethereum, Polygon, and others. It is an ideal pick if your crypto assets are spread across multiple blockchains.
  1. Visit OpenSea website
  2. Go to: My Collections on the top right of your profile> Click on Create a Collection.
  3. Fill out all the details and upload the file you’ll sell as your NFT. You can choose the file format, give a name to your file, include external links to your social media, and add a description.
  4. Pick the blockchain you want to mint your NFT to. You can choose either Ethereum or other blockchains like Polygon one.
  5. Cross-check the information of your NFT as you can’t edit it once it’s written on the blockchain.
  6. Click the “Create” button.
  • Fixed pricing: You give a fixed price for your NFT and put it up for sale.
  • Timed Auction: You can put up your NFT for auction with a base cost for a fixed time. You can decide the duration of your auction.
  • Bidding: Your NFT will be open for bid, and people can bid on your NFT to purchase it. You can either accept or reject their offers based on your choice.

How Much Does it Cost to List Your NFT on OpenSea?

Takeaway

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