Table of Contents
In this article I will be taking you through a step-by-step guide on how to make an NFT as a beginner.
First of all…
What is an NFT?
This is not the first time we’ll be talking about NFTs on this site, but it’s important to still give you a definition first.
The word “Non-Fungible” means unique and cannot be replicated. So, a Non-fungible Token is a unique digital token which can serve as a certificate of authenticity and proof of your right to own and display the art on your digital wallet.
Because these pieces are unique, it creates scarcity which in turn adds to the value for NFTs.
NFTs can be anything digital; music, drawings, videos and so on.
How do NFTs work?
NFTs are part of the Ethereum blockchain. Just like Bitcoin and Litecoin, Ethereum is a cryptocurrency but its blockchain supports these NFTs.
An NFT is an ERC-721 token on the Ethereum Blockchain. The artwork is minted into the ERC-721 token. This token contains:
- The historical information of any transactions plus artist information (including the artist’s public key) plus the number of likes (see the tiny ‘heart’ symbol above the image in the NFT).
- A unique identifiable number = the token ID (click ‘chain info’).
- A picture of the art.
- A smart contract (the NFT is effectively a smart contract – you don’t need humans to sign signatures). Standard copyright law applies and more specific conditions can be added to the description section.
- A list of unlockables (i.e. additional optional extras).
Now, let’s get into why we’re here
How To Make an NFT as a Beginner
Below is a step-by-step guide on how to make/mint an NFT as a beginner.
Step One: Pick Your Digital Asset
This step is quite obvious. Of course, the first step to making your own NFT, is to choose which digital asset you want to turn into an NFT.
This can be digital art, music, poems, a video, GIFs and so on.
But you have to make sure you own the rights to the item you wish to turn into an NFT.
Step Two: Pick a Blockchain
You’ve selected the digital asset you wish to make into an NFT. Next, you need to pick a blockchain technology you wish to use for your NFT.
The most popular one in the NFT world is the Ethereum blockchain, although there are others such as Tezos, Polkadot, Cosmos, and Binance Smart Chain.
Step Three: Set Up Your Digital Wallet
Since you’ll need cryptocurrency to fund your investment, you’ll need a digital wallet to create your NFT. This wallet provides you with access to your digital assets.
Once you’ve set up your digital wallet, you’ll need to buy some Cryptocurrency like ETH, which is the token most NFT platforms use.
Step Four: Select Your NFT Marketplace
To sell your NFT, you’ll need a suitable marketplace. An NFT marketplace is an online platform to buy and sell NFTs.
You need to pick a marketplace that is well suited to your NFT.
Check out some recommended NFT marketplaces in 2022.
Step Five: Upload your File/NFT.
You’ve picked your digital asset, picked a blockchain technology, set up your digital wallet and bought some crypto and selected your marketplace, next, you need to upload your file.
I said “file” because you would need to upload your digital asset as a digital file on the marketplace which will turn into a marketable NFT.
Step Six: Decide How You Wish To Monetize Your NFT
This is the last stage where you would need to set up your sales process and decide how you wish to monetize your NFT.
There are different options to choose from:
- Sell it a fixed prize
- Set a timed auction
- Start an unlimited auction
That’s it!
I know it seems quite easy but making your own NFT and making sales from it, is harder than it seems and it requires a lot of research, patience and sometimes- luck.
Please enable to do your own further research so as to make the best out of your NFT.
Good luck!
