How to Create an Nft

How to create an nft marketplace? Wow, I never thought someone would ask how to do that. I assumed the subject alone was above most people’s heads. But, here you are so let’s look at what it takes to create an nft art market place.

When it comes to new forms of crypto crowdfunding, the idea of creating an NFT blockchain art marketplace that makes buying and selling digital art more efficient is promising. People can easily trade different digital art for cryptocurrencies without having to worry about fraud or scams on the platform.

The term nonfungible token (NFT) usually refers to a cryptographic asset on the blockchain that represents an intangible and unique digital item like a piece of art, a photo, an in-game collectible, or a tweet that other assets cannot replace because it has a set of exceptional properties. Each NFT is unique and limited in quantity and not interchangeable; it can function as proof of authenticity and ownership. 

NFTs are distinguished from one another by metadata and unique identifiers like a barcode. The information that makes up the asset is known as metadata. Metadata allows users to buy or sell objects based on their metadata rather than the entire object.

NFTs aim to replicate tangible attributes of physical items like uniqueness, scarcity and proof of ownership. On the other hand, fungible goods can be swapped because their worth, not unique features, characterizes them. However, digital products are only valid when used in conjunction with their product.

The prototypes of NFTs were colored coins, which refer to experimental assets created on the Bitcoin network in 2012. The first asset representing a nonfungible tradable blockchain marker was created in 2014 as an experiment for the Seven on Seven conference at the New Museum in New York City. 

While digital collectibles and art NFTs continue to attract the most attention in the crypto community, their potential use cases continue to increase. They expand from the general use cases like digital art and games to fashion, music, academia, tokenization of real-world objects, patents, membership sales and loyalty programs. There is also room for combining the advantages of NFT technology with the functionality of decentralized finance (DeFi). For example, it is possible to borrow and lend nonfungible tokens, and they can be used as collateral to secure a loan.

Anyone interested in selling and sharing their digital creations like content, art, music and photography can create NFTs. Here is a practical guide on successfully jumping on the bandwagon of creating a nonfungible token.

NFT creation is quite a simple process. For instance, users can pick their content and get a crypto wallet. They can choose a proper NFT marketplace and follow its instructions. After an NFT is created, it is ready to be sent to friends or sold to collectors.

Here’s what you need to know more about the NFT creation process.

Creating your own NFT artwork, whether it be a GIF or an image, is a relatively straightforward process and doesn’t require extensive knowledge of the crypto industry. NFT artwork can also be used to create collectibles like sets of digital cards.

Before you start, you will need to decide on which blockchain you want to issue your NFTs. Ethereum is currently the leading blockchain service for NFT issuance. However, there is a range of other blockchains that are becoming increasingly popular, including:

• Binance Smart Chain
• Flow by Dapper Labs
• Tron
• EOS
• Polkadot
• Tezos
• Cosmos
• WAX

Each blockchain has its own separate NFT token standard, compatible wallet services and marketplaces. For instance, if you create NFTs on top of the Binance Smart Chain, you will only be able to sell them on platforms that support Binance Smart Chain assets. This means you wouldn’t be able to sell them on something like VIV3 – a Flow blockchain-based marketplace – or OpenSea which is an Ethereum-based NFT marketplace.

Since Ethereum has the largest NFT ecosystem, here’s what you’ll need to mint your own NFT artwork, music or video on the Ethereum blockchain:

• An Ethereum wallet that supports ERC-721 (the Ethereum-based NFT token standard), such as MetaMask, Trust Wallet or Coinbase Wallet.
• Around $50-$100 in ether (ETH). If you are using Coinbase’s wallet you can buy ether from the platform with U.S. dollars, British pound sterling and other fiat currencies. Otherwise, you will need to purchase ether from a cryptocurrency exchange. A guide on how to buy cryptocurrencies using the most popular exchanges can be found here.

Once you have these, there are a number of NFT-centric platforms that allow you to connect your wallet and upload your chosen image or file that you want to turn into an NFT.

The main Ethereum NFT marketplaces include:

• OpenSea
• Rarible
• Mintable

Makersplace also allows you to create your own NFTs but you have to register to become a listed artist on the platform beforehand.

OpenSea, Rarible and Mintable all have a “create” button in the top right corner.

Here’s how the process works on OpenSea, currently the largest Ethereum-based NFT marketplace.

Clicking the “create” button (blue) will take you to a screen that asks you to connect your Ethereum-based wallet. Once you’ve entered your wallet password when requested it will automatically connect your wallet with the marketplace. You may have to digitally sign a message in your Ethereum wallet to prove you own the wallet address, but it’s just a case of clicking through to proceed.

Digitally signing a message does not incur a fee, it’s just to show that you have ownership over the wallet.

The next step on OpenSea is to hover over “create” in the top right corner and select “my collections.” From there, click the blue “create” button as shown below.

A window will appear that allows you to upload your artwork, add a name and include a description.

This part is essentially just you creating a folder for your newly created NFTs to go in.

Once you’ve assigned an image for your collection, it will appear as shown below (blue). You’ll then need to add a banner image to the page by clicking on the pencil icon in the top right corner (red).

Your page should end up looking something like the image below.

Now, you’re ready to create your first NFT. Click on the “Add New Item” button (blue) and sign another message using your wallet.

You’ll arrive at a new window where you can upload your NFT image, audio, GIF or 3D model.

On OpenSea and many other marketplaces, you also have the option to include special traits and attributes to increase the scarcity and uniqueness of your NFT. Creators even have the opportunity to include unlockable content that can only be viewed by the purchaser. This can be anything from passwords to access certain services to discount codes and contact information.

Once you’re finished, click “create” at the bottom and sign another message in your wallet to confirm the creation of the NFT. The artwork should then appear in your collection.

Conclusion

One of the great things about how to create an nft marketplaces is that you can do almost anything on them. For example, you can upload your designs onto an nft marketplace like Rarebits and sell them as art prints.