How to Create Your Own NFT?

CryptoArt and NFTs combine the time-based media art and nanotechnology stored in the Blockchain, provably scarce, decentralized, authentic, and pro-artist. NFTs gained widespread popularity throughout 2021, NFT has been in the headlines constantly throughout the year. The infamous examples of NFT this year are celebrities dabbling in the space and dishonest activities, legal fights, and scams.

Many creators around the globe made millions of dollars from NFT, this is why the number of investors in NFT is increasing day by day. As a result, millions of NFTs are made in the NFT marketplace, and it encourages people around the globe to invest time and money in tech.

NFT has gained popularity even outside of the crypto world, the concept of NFT is progressively going up in the mainstream news. NFT is converting everything into digital assets, from music and art to memes every non-tangible item is being sold on a large scale in the virtual market and people are making a ridiculous amount of money.

In this article, we will talk about what is NFT and how you can make your own NFT. We have broken the process into easy and simple steps.

What is NFT?

You have probably figured out what is NFT after reading the introduction. The abbreviation of NFT is Non-Fungible Tokens. NFT has become a virtual universe, and it is a huge marketplace place of memes and art. Every non-fungible item in the NFT is very unique and can be sold for millions of dollars. Let’s make it a bit clearer, you can simply compare an NFT with any fungible token. The best examples of fungible tokens are dogecoin or any other having the ERC-20 standards. You can exchange one dogecoin with another fungible token. However, they both might have different values, but both carry the same properties.

From a non-technical perspective, it is quite difficult to ensure uniqueness when it comes to digital assets. The only way to keep them distinct is by using blockchain technology and Web3. Moreover, it is possible to verify the owner of the NFT by using blockchain technology.

Generally, most of the NFTs are part of the Ethereum blockchain. Ethereum is a famous cryptocurrency that is currently increasing in value. The worth of the NFT can be zero if the blockchain would not implement its own versions of NFTs.

How to make your own NFT?

To make your own NFT, the first step is to create the dApp (decentralized application). The dApp app is very flexible, and anyone can build their own NFTs from a very simple process. Moreover, the dApp is very user-friendly because you can create an account by simply putting your email address and name. However, the dApp still needs user authentication with MetaMAsk to add the profile. The user can begin to make their own NFT after making the profile and completing the authentication process.

To make the NFT, the first step is to input your name, description, and choose a file to upload. After inputting all required credentials, the next step is to press the “Upload and Mint” button to activate and upload function in the background, this process will mint the NFT and upload it to the blockchain. In some cases, you can use the Testnet or Ropsten however, most of the blockchains have the same principles. 

The most famous and efficient platforms for NFT construction are Rarible and OpenSea. Whereas you can get more relatable services from OpenSea and Rarible takes records of total sales figures, including the capability to make your own NFT Webstore power-driven from OpenSea exchange. Both of the platforms are very flexible and intuitive and a user does not need any technical blockchain information to upload their art and create collections of it. 

Before you initiate the process, keep in mind there are some up-front costs. Generally, Ethereum’s blockchain powers the NFTs. Using a blockchain, you are required to pay a network fee called gas fees to create NFT tokens.

While using Rarible, an artist must mint their NFTs on the blockchain for making NFT tokens. Rarible has been considered the best platform for NFT most of the artists sold their NFT tokens and made millions of dollars on Rarible. Apart from this, there is also an alternate of NFT which is also called multitude or cheaper NFT. For this, you have to employ OpenSea’s Collection Manager.

OpenSea is a very flexible platform, this platform engages users by charging only on-time fees to give access to them establishing their new collection. After that, users can create an endless number of NFTs with the collection. The centralized team of OpenSea stores these tokens in their off-chain until the user does not desire to sell them. To place the NFTs on the chain and transfer them for sale purposes, the buyer needs to pay a network fee linked with the transaction.

Let’s look at how you can create your own NFT token with these simple steps:

Make a MetaMask

The very first step, to make your own NFT is you have to create a software wallet. The benefit of a wallet is that it can hold your NFTs. Furthermore, from this wallet, you can pay the gas fees of the blockchain.

First login to the metamask.io. MetaMask is the place where you can add the chrome extension or download the app. The MetaMAsk is very simple to make and most exciting that it is free. The only thing that you have to remember is to keep monitoring your seed phrase if you ever want to recover your wallet.

Note: wallets do not hold NFTs or cryptocurrency. The main purpose of software wallets is to provide you with authorization to perform transactions that you have stored as a private key in your wallet. Actually, blockchain keeps all NFTs and cryptocurrencies with the wallet ID designating ownership.

Tokenize Your Art

Once you are done with creating a MetaMask wallet, now you have all access to create your own NFTs.

Go to the menu bar and click on the create button in order to navigate the opensea.io. This process will associate your MetaMask wallet with OpenSea, and you can move to the next step.

First, create the name of your NFT collection, then click on the Add new item button. This process will enable you to upload the file that you want to tokenize. Keep in mind that you have to give certain statistics and value to the NFT to make it distinguish from the rest of your collection.

Make a list on the Marketplace

Go to your account and activate the OpenSea so you can easily sell your NFT tokens. First, pay the network fees to process the blockchain transaction. To move on to the next step, you have to send some Ethereum coins to your MetaMask. This is only a one-time fee to make your own NFT collection.

Don’t worry if you do not own any Ethereum, you can simply purchase Gemini or use any Coinbase and send these coins to your MetaMask wallet.

After sending the coin to MetaMask, you have to allow OpenSea to auction your NFTs. OpenSea is a huge marketplace of buyers and sellers, it will not take much time to sell your NFT.

Find Ways to Gain profit From NFT

There are three popular ways to gain profit from NFTs: Scalping, Creation, and Investments.

The best trick to gain profit is to invest your NFTs on a popular platform such as Rarible, Nifty Gateway, or OpenSea before the NFT gets out of trend. Most of the NFT miners lose huge amounts of money during the gold rush in California however, some people manage to become wealthy as well.

For an artist, creating NFTs can open up many financial opportunities. Famous personality and boxer Logan Paul have made over 5 million dollars in just a single day by selling over 3000 NFTs. From these figures, it is clear the market of NFT is insanely huge.

Famous NFTs

NFTs can be represented as digital objects. For instance, Football is tokenizing clips of the biggest plays in the history of Football and selling them on the famous NTF marketplace for a fortune.

Avatars have tokenized their 24 x 24-bit pictures as crypto punks. The score of crypto punks is over 10,000, each of the tokens has unique boasting and identification. The average sale of crypto punks is 15,000 dollars.

Bottom Line

The blockchain has brought a revolution in the world of art. However, this is just the beginning. Tokenization has an endless number of undiscovered applications that make it an insanely powerful tool. According to a report NFT is considered the world's next most powerful and valuable asset. However, which NFT will stay long or which NFT holds more worth is another debate.

Each NFT has its own identification and worth. However, the real value of NFT is based on the potential of the buyers. It is not necessary that every NFT hold huge value. There are so many people who have invested their time and money in making NFT and are still left with empty hands. So invest your time and money carefully and follow the steps given above to successfully create your NFT.

Share on:
Pawan Kumar

20, Jan 2022

Pawan is a content marketing freak who excels in web, business, and gaming content. Apart from his professional life, he has a keen interest in poetry. Follow him on Instagram!

Next Article

8 Steps to Choose the Right Headless CMS

Get in Touch

Get in touch with our experts

Looking for a brilliant app solution?

Get in touch with us

*

Copyright © 2021 Appstirr | All rights reserved.

Logo, portfolio, images and content are sole property of Appstirr (Labstirr LLC). All third party company names, brand names, trademarks displayed on this website are the property of their respective owners. Furthermore, Appstirr (Labstirr LLC) has no influence over the third party material that is being displayed on the website. Therefore, we are also not responsible for any resemblance with any other material on the web. These portfolios and case studies are actual but exemplary (for better understanding); the actual names, designs, functionality, content and stats/facts may differ from the actual apps that have been published. This is due to the strict NDA policy that Appstirr (Labstirr LLC) adheres to.