How to create NFT
There are essentially six steps to creating NFTs:
#1. Determine your asset
What original artwork do you want to turn into an NFT? It could be anything from a painting or illustration to an album, photograph, social media post, GIF, meme or video game. Be mindful that you must be the creator of the original item or be in possession of the legal intellectual copyright before turning it into an NFT.
#2. Select your blockchain
Choosing the blockchain technology is next. Many creators of NFTs use Ethereum, with other options including Binance Smart Chain, Cosmos, Tezos and Polkadot.
#3. Create your digital wallet
Cryptocurrency is needed to fund your NFT, so if you don’t already have a digital wallet sorted, now is the time to set it up. Having one is necessary to access your digital assets, with the top three NFT wallets being: Metamask, Math Wallet and Alpha Wallet. If you don’t already have cryptocurrency, you’ll need to buy some. Ether is recommended.
#4. Choose your marketplace
Once you’ve completed the previous steps, it’s time to select the NFT marketplace to begin creating your token. There are several options to choose from, some of the most popular including: OpenSea, Nifty Gateway, SuperRare and Rarible. Choose your marketplace and link it to your digital wallet.
#5. Time to upload
Each NFT marketplace will walk you through the file upload process. Once your file is uploaded, you’ll be able to convert it into an NFT.
#6. Configure the sale process
You will be given options as to how you want to sell your token. Marketplaces will provide different options, with some of these including:
- Timed auctions: setting a time limit for bids to be submitted
- Unlimited auctions: no time limit, you choose when to end the auction
- Fixed sale price: sold to the first person who wants to buy at the listed price
A minimum price will be needed for auctions and it’s wise to set the minimum to at least cover all your overheads (artwork creation and materials, your time and the various associated marketplace fees) so you aren’t losing money.