In recent years, NFTs have become a real trend and everyone is doing them. From the marketing departments of large companies to ordinary artists or students. It doesn’t immediately occur to you that tokens can be made from almost any file and make millions on it! In our review today, we will describe how to make an NFT and sell it.
Creating a Token
There are several ways to create tokens today. We will tell you about the simplest one, which does not require any special knowledge or skills in blockchain development. All you need to do is to upload your future token to one of the marketplaces (OpenSea, Binance), and the platform will generate the token itself by recording its data in the blockchain network.
You will need three things:
- The object itself (a picture, GIF, art, music, video clip, etc.);
- A cryptocurrency wallet for authorization on the marketplace;
- Some cryptocurrencies for paying a commission for creating and selling an NFT.
Thus, the services take a commission – the so-called “gas fee”. Gas is deducted in cryptocurrency from your wallet when you mint your NFT. It can be a fixed amount or a percentage of the value of the token.
But there are also ways to do it without cost. And when you know how to make NFTs and sell them you can track the best projects and conduct token transactions with Drops.
How To Create an NFT Token for Free
There are several platforms that allow you to create a token. Here’s a simple sequence of steps:
- Install the extension for Chrome Metamask. It registers an Ethereum-based digital wallet that can be accessed directly from your browser;
- Open the website of the tokens exchange opensea.io. Select Create in the upper right corner, and choose Submit NFTs from the drop-down menu;
- Prepare the file. Almost any token can be called art, but the artistic value of most tokens looks questionable. To put it simply, not every art should be a work of art in the conventional sense. Even a photo of your cat, your dog, or a picture of them together will do. Once the file is ready, click Create a new Collection;
- Create your collection. Add a title, a logo, and a short description for your NFT. The last two items are optional;
- Add a new object. After that, the platform will offer an agreement (you won’t have to pay anything now). Accept its terms and move on to the next step;
- Upload your artwork. OpenSea supports JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, and GLTF formats. The maximum file size is 100 MB;
- Click Add New Item and accept another agreement. Add your image and specify the number of copies. Authors can optimize search results by adding information about properties, levels, stats, and copies in circulation. The platform also allows you to add exclusive content that only the owner can view.
Done! You now own a non-interchangeable piece of digital art. And it’s all free. There are several methods of how to make and sell NFTs, but we tell you about the simplest and most free.
How To Build an NFT Collection
At the moment, NFTs are quite deeply integrated into the global economy. Most often crypto-artists create not just one or two tokens, but a collection of hundreds or even thousands of objects. The most famous collection – CryptoPunks – consists of 10,000 pictures. Each “crypto punk” is unique and different from the others, even if just a little.
How to create an NFT collection, for example, of 100 images of an anime character? You don’t have to draw a hundred pictures by hand. You need the original and the blanks: some backgrounds, emotions, hairstyles, accessories, and eye color (5 of each).
Most often, artists generate collections through code: they write a utility that accepts blanks in the form of layers and outputs finished characters. Of course, a piece of art is worth a lot more than a random image.
If you’re a practicing artist, scan or photograph your finished artwork in good quality. Then make a token out of it. You can also promise to send the buyer of the token the original NFT painting – that will help add value. In 2021, an NFT with a copy of a Banksy painting called “Morons” went under the hammer for 228.69 ETH, after which the original painting was burned. The value of the token only increased because of this.
Wonder how to make and sell an NFT? Then let’s move on to the second part of the question in the next section!
How to Sell NFTs
We’ll tell you how to sell your NFTs in our step-by-step guide.
Step 1: List the Token
First, the token (or collection) must be listed on a particular platform. Then your NFTs will appear on the marketplace and will be visible to buyers. OpenSea charges 2.5 percent of the value for listing a new token, on Binance listing is free.
Step 2: Determine the Price
Orient yourself to the market. See how much NFTs of the same level as yours are worth, whether they are advertised and known among collectors. Of course, no one will limit you on the price for your NFT but try to be realistic.
Step 3: Set Up an Auction
If you can’t decide, let the buyers do it for you. Choose the “auction sale”. You can set the duration of the auction and the minimum bid-raising step. After the end, the token will go to the one who offered the most money.
The crypto market is different. For example, an artist from the USA took a picture from the Internet, applied a couple of effects, and sold a GIF of a garbage can for $250,000. Now that you know how to make NFT art to sell you can take a chance and try to earn your millions!