How To Create An NFT (& Sell It) For Beginners.
The discussions around NFTs have gained a lot of attention in 2022, and the hype only seems to be growing every day.
According to Coin Desk, the unique collectible crypto assets have been around as early as 2012 when the concept of Bitcoin colored coins emerged.
But what exactly is an NFT, and how can you make money from this opportunity?
In simple terms: An NFT allows a buyer to own the original copy of a digital file. Essentially, the concept is similar to owning the original pair of designer sneakers or the master file of a music recording.
The emergence and adoption of NFTs provide leaders and creatives a way to own their work and determine their royalties. Some creators, even teen artists, are making tens of millions of dollars off NFTs, and you can too.
Looking at the market over the past two years, NFTs have skyrocketed. Data from the tracking company DappRadar, shows trading in NFTs exploded from $100M in 2020 to $22B in 2021.
As investors and collectors look to get involved in the latest web3 craze, some of the NFT prices are insane.
In December 2021, the Merge’ became the most expensive NFT ever sold, with 29K collectors pitching together for $91.8Million.
That’ was so encouraging. Right?
While digital collectibles and art NFT continue attracting attention in the crypto community, their potential use cases continue increasing.
The beauty in this industry is that anyone interested in selling and sharing their digital creations like content, art, music, and photography can create NFTs.
In this article, you will learn how to decide on your NFT concept, connect and build a community around your NFT, and finally, how to mint share and sell your NFT.
Step 1: Outline Goals For Your NFT Project.
Before you invest time creating NFTs, Outlining the project goals from the start will help.
People are venturing into the NFT industry for different reasons. For some, they are looking to make money selling NFT, entertainment, while some want to enrich the ecosystem with their creations?
A vast majority are into NFT entrepreneurship and therefore want to profit from trading NFTs.
Regardless of your goals, define whether you are launching as a partnership, a corporation, or solo.
In addition, define your target audience, and set aside a budget for producing and marketing your NFT.
Editors Note: If you’re looking for NFT ideas, here are 24 ways to make money from NFT’s.
Step 2. Decide What To Create.
The next step is deciding the NFT concept you want to pursue. There are tons of NFT ideas to choose from when creating your first NFT project. However, not all of them are worth the effort.
NFTs can represent virtually any type of tangible or intangible item , cryptocurrency including:
Artwork Virtual items within video games such as avatars, weapons, virtual currency, or skins Music. Collectibles Tokenized real-world assets (real estate, cars, racehorses, sneakers) Virtual land Video footage of iconic sporting moments.
NFTs can take different forms, including JPG, PNG, MP4, MOV, etc.
If your NFT concept is complex or has a complicated smart contract, you may hire an NFT developer. However, if the NFT concept is simple, you may not need to hire an NFT creator.
Step 3. Choosing the Right Platform To Mint Your First NFT.
An NFT platform allows you to mint NFTs through custom creation, NFT contracting, or interest NFT projects using the platform’s native NFT contract.
If you have already tried to go through the process of creating an NFT, you have probably come across several platforms.
While all NFT platforms seemingly offer the same service, there must be some differences. In that case, any newcomer can have difficulty choosing the right NFT minting platform.
Besides, the NFT industry is innovative and rich with unique applications that utilize various open-source technologies to offer their conception on NFT minting.
Are you wondering what the nitty-gritty of the NFT platform selection process is? Well, here are some of the questions we consider the most essential to guide any beginner NFT artist in choosing a platform:
Does the platform provide a friendly user interface? Contract ownership: Does the platform support custom contracts? Is the royalty scheme profitable? Does the NFT platform provide a marketplace?
If you want to compare the best NFT platforms of 2022, find the highest rated NFT platform, and compare the gas fees, check out this post.
In this article, Yashoda Gandhi explains in-depth tips for choosing an NFT platform.
Step 4: Build An NFT Crypto Community.
NFT shilling refers to promoting an NFT and encouraging others to show or drop a link to your NFT so it can reach a wider audience.
Ideally, an NFT crypto community refers to a group of people actively collecting, trading, selling, and engaging in conversations about an NFT.
To connect and build an NFT crypto community, get ready to tweet and DM your social media networks. Target platforms like Discord and build authentic relationships with crypto lovers and gamers.
Example of thriving NFT community.
Top Tips For Growing a Strong Community Around Your NFT.
Be authentic (explain to your audience why you have started the project) Choose engagement channels that resonate with your community Reward early followers to generate interest Engage your community consistently Collaborate with other NFT artists and influencers.
Step 5. Create Your NFT.
As NFTs approach the mainstream, cryptocurrency it is becoming harder for new NFT collections to stand out from the crowd. Only NFT creators who ensure fine precision will thrive and see significant success.
So, how do you avoid releasing an NFT collection that falls flat?
First, use materials and tools that you already have. Secondly, you need to invest in new technology or knowledge as required. In addition, embrace the spirit of learning from other creators.
More importantly, consider the audience you think will like your work, interest NFT projects and keep it in mind as you create.
To create an NFT community that will deliver fairness and lifetime value:
Tell a compelling story Set up smart contracts Create fairness for fans and customers Innovate Write NFT smart contracts.
Step 6: Mint Your NFT.
NFT minting is turning an asset into a digital token with cryptography. Each NFT marketplace has slightly different methods for minting NFTs. To illustrate how to mint an NFT, we will refer to OpenSea, the largest NFT marketplace.
Here are basic steps to mint NFT on OpenSea:
Connect Crypto Wallet (Metamask) to OpenSea Upload your files and input the collection’s description Determine your royalties and complete your listing.
Step 7: Promote and Sell Your NFT.
Just uploading your NFT portfolio on social media platforms won’t suffice. After minting and sharing the NFT, consider asking your community members to share the project on social media. Collaborating with other NFT creators and collectors will enhance your visibility.
Another way to ensure your NFT is visible to users is by adding your collection to an NFT calendar. The NFT Calendar Platform showcases the best NFT drops from different marketplaces under one dashboard. Therefore, the NFT calendar is an excellent source for NFT collectors who do not want to rush from one marketplace to another to discover the most outstanding releases.
To weave into the NFT community, share the story behind your digital art. If you are an artist, concisely explain the project’s backstory.
Finally, list your NFTs on multiple marketplaces to increase the chances of selling.
Here is an overview of some of the largest NFT marketplaces:
OpenSea: The leading marketplace where users create, buy, and sell NFTs Rarible: A platform where you can create, sell or collect all forms of crypto assets SuperRare : The digital art market on Ethereum Foundation: A place for artists and collectors to experience the modern creative economy.
Common Questions About NFTs.
Can anyone create an NFT?
Yes! Anyone interested in selling and sharing digital creations like content, art, music, and photography can create NFTs.
To get started, decide what to create, choose the right NFT platform, Create the NFT, and market your project on an NFT crypto community.
Do I need to make a smart contract for NFT?
Yes! You need a Smart Contract for NFT projects.
Essentially, a smart contract is a piece of software code that allows the network to store the information in a transparent and immutable manner. Ultimately, the smart contract is central to the functioning of NFTs, hence inevitable for your NFT projects.
Do you need to code to make an NFT?
You can create NFT art without writing a line of code.
If you do not have coding skills, you need to find a developer that understands Blockchain platforms. Alternatively, you can use the no Code NFT collection generator.
How much does it cost to create an NFT?
The price for minting NFT ranges between $10 and $500, and sometimes can go even higher.
Ideally, the total cost depends on the market type and complexity of the project.
When you hear NFTs for the first time, venturing into the market might seem complicated and overwhelming.
However, with some research, creativity, and due diligence, earning through the NFT marketplace is simple than you may imagine.
If you follow the above steps and play your cards right, you might be minting millions of dollars in NFT trading.
Pat Walls, Founder of Starter Story.
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