NFTs or non-fungible tokens have become an integral part of the crypto industry over the past few years. Every day there are more and more unique NFT collections, which are estimated at hundreds and even millions of dollars.
Not everyone knows that you can create your own unique NFT in just half an hour. And this does not require significant investments, special programming skills or professional experience.
We have prepared a step-by-step guide for you, with which you can create your own NFT in just 4 stages.
- What is NFT?
- 4 steps to create NFT
- What’s next and what is minting?
- How to promote NFT?
- The end
What is NFT?
NFT is a non-fungible token, that is, a record in the blockchain that is connected to a specific digital object (to a picture, audio or video recording, to a gif, to a game character).
A brief historical reference. The first NFTs appeared in 2015, and since then this trend in the crypto industry has been developing exponentially. Initially, the idea of creating a kind of blockchain registry for storing NFT originated with digital artist Kevin McCoy and programmer Anil Desh. They wanted to integrate cryptocurrencies into the world of art so that each user would have the opportunity to buy, sell and store unique digital items with confirmed ownership in the blockchain network.
And the first creators of NFT did it! In October 2015, the first full-fledged Etheria NFT project was launched, which McCoy and Dash demonstrated live at DEVCON 1, the first Ethereum developer conference in London, just three months after the launch of the Ethereum blockchain itself.
How the first Etheria NFT project looked like. Source: cryptonews.
If Ethereum, Bitcoin or any other cryptocurrency can be exchanged, bought, sold and stored in any volume, then NFTs are represented as whole, unique assets. You can't split them up and sell them in parts.
It is thanks to this feature that tokens have become a special gateway to the world of blockchain, used to confirm ownership of a digital asset. These assets can be art objects, estate, game characters or skins, as well as items in the metaverses. Each NFT is an entry in the blockchain notebook that records the ownership of virtual or real goods to a specific user.
NFTs can be created in several blockchains. The most popular one is Ethereum in the ERC-721 and ERC-1155 standards. There is such an alternative as a BNB network, which has its own standards: BEP-721 and BEP-1155. Those are used for NFTs created on the Binance exchange. However, in most cases the ETH network is used.
The value of NFT lies in the opportunity to become the owner of digital art in a secure format using blockchain. Nevertheless, many people see a high investment attractiveness in this, because some digital tokens have risen in price by thousands of percent since their creation and brought huge sums to their owners.
And now let's try to make an investment in the future and create our own unique non-fungible token.
4 steps to create NFT
As we have already noted above, NFT can be presented in the form of an image, video, text document or audio recording. Platforms for the creation and sale of NFT strictly regulate the ownership of assets and protect users from unauthorised copies, forgeries and fraud.
❗ Do not attempt to create a token with a digital object that is protected by the ownership right.
In addition to the file with a unique digital asset, you will need a cryptocurrency Ethereum wallet with a small amount in the account to pay for gas when putting NFT up for sale.
Gas is the amount of computing work of miners processing all operations in the blockchain network. This unit is used when calculating the cost of a transaction, which depends on its complexity. This commission must be paid in order to perform the NFT minting and to activate the token in the blockchain. On some platforms, the commission is charged from the buyer, not from the seller (for example, on Treasureland) – so there is always a choice.
Finally, let's move on to the instructions for creating an NFT.
🎯 Step 1. Choose a platform for creating NFT and crypto wallet
It is not possible to create an NFT on every exchange. There are special online platforms for this, for example: Rarible, Nifty Gateway, Mintable, Sorare. The most popular platform was and remains OpenSea, where thousands of popular non-fungible tokens are created, stored and traded every day.
You will also need an Ethereum wallet on which your tokens will be stored. Conventional cryptocurrency wallets do not support the NFT format, so special services like MetaMask are used to create and store tokens. There are also less popular analogues: Trust Wallet, Enjin, etc.
💼 Step 2. Create an Ethereum wallet and connect it to the platform
After selecting the platform and wallet, you can proceed with the setup. As an example, we chose the OpenSea platform and MetaMask wallet. In general, the functionality of most services is identical.
You can register an Ethereum wallet directly on the website of the selected platform. This should be done before you start creating a token.
You can open an account in just a few clicks. Meta Mask is available on iOS and Android devices, as well as in browsers.
As soon as you have created a wallet and saved the seed phrase in a safe place, you can proceed to the next stage.
🔧 Step 3. Go to the NFT creation page and fill in all the fields
Now you need to open the NFT creation menu and start filling in the data. At this stage, you will need to:
- upload a token file in a supported format;
- specify the name;
- describe the token;
- select a collection if necessary;
- specify the characteristics.
Finally, when all the data is filled in and the future NFT file is attached, click on the treasured «Create» button.
🎬 Step 4. Complete the creation of the NFT by obtaining a unique identifier
🥳 Congratulations! Now you have your own NFT! What should you do with it? You can just store it in an Ethereum wallet. However, most readers are likely planning to make money on this.
To do this, click the «Sell» button, go to the token menu, select the necessary conditions and put the token up for sale by paying a small commission in ETH.
That's how easy it is to become the creator and owner of a non-fungible token or an entire NFT collection!
What’s next and what is minting?
After creating the NFT, it is necessary to complete the so-called minting, or the registration of the token in the blockchain. To do this, you need to put the asset up for sale and pay a commission for gas, as we wrote above. After that, the minting will be successfully completed, and the NFT will be fully created.
The commission amount depends on the chosen platform. On OpenSea, the fee for the NFT listing is 2.5% of the stated cost. At the same time, you can specify any price of a token or collection in Ethereum (for example, 0.000001 ETH). The payment must be made from the wallet that you registered at the beginning, having previously replenished it. And you can buy ETH at a favorable rate quickly for fiat in itez.
If you use platforms like Treasureland, then you will not need to pay a commission in advance for minting, since it will be included in the sale price charged to the buyer.
Please note that it is necessary to mint the entire NFT (or the entire collection). In this case, the commission is paid once for the entire collection, after which the seller does not pay anything.
Additionally, a commission may be charged for the sale of NFT, but this is determined individually by each platform.
How to promote NFT?
After creating the NFT and its minting, the work does not end. If you plan to earn money on a token, then you need to take care of its promotion: due to the growing popularity of this direction, more and more NFT collections are appearing, among which it is difficult for unknown newcomers to promote their product.
There are several most effective tools for promoting NFT:
🌐 Social networks (Instagram, Facebook, etc.). The most effective is targeted advertising with a demonstration of NFT, a description of the token and a call to join the community of crypto enthusiasts.
💻 Video hostings (YouTube). Video ads have a high conversion rate if they are created competently and attractively and are targeted at the proper audience.
😎 Cooperation with influencers. PR from public people (bloggers, entrepreneurs) is also able to attract interested buyers and investors if it is aimed at the right audience.
If you do not have the opportunity to invest in the promotion of your NFT at the initial stage, we recommend starting with a free mention and description of the token on thematic forums, portals, in communities and target groups in social networks.
Every user who has at least 20 minutes of free time and access to the Internet can create their own NFT. In the case of creating an asset for personal use, you will not even have to spend money on gas fees and on minting commissions.
When creating an NFT, you need to follow the instructions clearly and make sure that your token is unique, protected by property rights, and not stolen or copied from anywhere. If all these conditions are met, then you can become the rightful owner of your own non-fungible token and put the asset up for sale in just a couple of clicks, and then, perhaps, you will make good money on it!
It all depends on the value, uniqueness and attractiveness of the created NFT. So go ahead!
When creating the NFT for the preparation of this article, we used the digital logo of our itez service. The rights of this asset are protected and belong to the administration of the service, therefore its copying, distribution or falsification is prohibited.
This article is not an investment recommendation. The financial transactions mentioned in the article are not a guide to action. Itez is not responsible for possible risks. The user should independently conduct an analysis on the basis of which it will be possible to draw conclusions and make decisions about carrying out any operations with cryptocurrency.