NFT is a new hot topic that some creators managed toturn into a real fortunewhile many others don’t even know exists. NFT stands for non-fungible tokens which in simple words means unique. Once something is registered as an NFT, it gets a unique digital stamp that allows linking between the owner and that exact digital asset.
What Can be Registered as an NFT?
Anything can be registered as an NFT: digital artwork, an audio file, lines of text, etc. Even this blog post can theoretically be transformed into an NFT. NFT may also link to physical objects like oil paintings, sculptures, or even real estate properties. Digital illustrations, digital photography, videos, and animations fit perfectly into the NFT world.
What’s a Good Software to Create NFT Art?
You don’t need any special software to create an NFT. You can create your art, just like you would for a client or your portfolio. I usually use Adobe Character Animator *, Adobe Illustrator *, and Adobe After Effects *, so that software was the software I use to create my NFT.
How to Turn Artwork into NFT?
For a digital asset to become an NFT it should be signed with asmart contract on a blockchain. This process is called minting. It can be registered by code or can be done for you automatically when uploading artwork to a specialized marketplace.
The Process - Summary
- Select a Market Place
- Create a Crypto-Currency Wallet
- Connect Your Wallet to a Market Place
- Upload Your Artwork to the Marketplace
- List Your NFT for Sale
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<div><p><strong>Please include attribution to https://www.animationguides.com/ with this graphic.</strong></p><p><span></span></p></div> Follow these to publish your first NFT:
Step 1: Select Your Marketplace and Create an Account
There are many NFT marketplaces available. Among the popular ones are:
The marketplaces differ from each other by:
- Cryptocurrency that is used on the platform
- Fees that the marketplace takes for creating and selling the artwork on the platform
- Supported file formats and file sizes
- Royalties the artists can get on the future sales of the artwork
- Other factors
Due to massive interest, some of the marketplaces will require an invitation.
The most popular cryptocurrency used to buy and sell NFTs right now is ETH and the majority of the marketplaces support this currency.
A term that is important to be familiar with when starting out in the crypto space is “Gas Fees”.
What are Gas Fees?
Gas fees are costs that come with almost any transaction that occurs on theEthereum blockchainand are supposed to cover the expenses for the computer energy that is wasted in this process.
Some of the marketplaces will require the creator to pay gas fees for each transaction: listing an item for sale, selling the item, and more. While others may only require gas fees to get started and some will allow you to start with 0 cryptocurrencies in your wallet.
Surprisingly, you will find out that gas fees can actually be very high. In many cases, the gas fees you will require to pay for creating or purchasing an NFT are higher than the actual price of the artwork itself. That is due to the increasing popularity and high volume of actions on the Ethereum blockchain.
Gas fees depend on the number of transactions on the blockchain at each moment. They change drastically during different periods and times of the day.Gasnow.orgallows you to check what is the gas price right now and also shows heat maps for higher and lower gas cost periods.
Which Marketplace Has No Gas Fees?
You can list an NFT for sale without paying any fees (even if you have 0 eths in your wallet ) if you use Mintable Marketplace or Use thePolygon Network on Opensea.
At the time of writing this post, Opensea is the largest and most popular marketplace for NFT artworks.
Step 2: Create a Digital Wallet
To create an account on almost any NFT marketplace you need to have a crypto wallet. Acrypto wallet will hold the cryptocurrency you will earn/spend on the marketplace. Different marketplaces support different digital wallets. Metamask is one of the most popular wallets to work with, it is the default wallet for Opensea and it is very easy to set up.
- Go to Metamask.io.
- Download the chrome extension and accept the terms. You will find the link to the download on their main page. (There is also a mobile app available)
- Open Metamask extansion by clicking on the Metamask icon.
- Create a new password.
- You will now get a secret backup phrase that consists of 12 words. You need to write it down somewhere (maybe couple of places). That is the secret phrase to your wallet. If you lose it you will lose the wallet as well.
- After you click next, you will be asked to re arrange the words of that phrase in the right order. Once you finish and confirm you know the phrase your account is ready.
- Click on All Done.
- Click on View Account.
- You can see your wallet address below the account name.
Step 3: Create an Account on Opensea.io
- Open Opensea.io
- Click on the profile icon on the top navigation menu. When a dropdown menu will open up, select "My Account" option.
- Opensea will now prompt you to connect your Metamask wallet.
- Click Sign in.
- Opensea will now create an Unnamed account.
- You can open the Account settings, change the username, add contact info and upload a profile picture.
Step 4: Create a Collection
- On Opensea website, click on "My Profile" and select "My collections".
- Click on "Create My Collection" button.
- Add the graphics: collection icon, banner.
- Fill in the name of your collection and write a description (It should be no longer than 1000 characters).
- Select a category that is the nest fir for your collection.
- Add links: you can add links to your own website, discord channel, Twitter, Instagram and Telegram.
- Write down the Royalties. Royalties is the percentage you would like to receive on the future re-sales of your work. Max percentage is 10%.
- On the Blockchain section, select "Polygon" (This is the gas free option, you will not be asked to pay any fees when uploading or listing items for sale on Polygon).
- The default payment tokens is Eth, you can add more from the list.
- Select your display theme and click "Create".
Step 5 : Create Your NFT
- Open your newly created collection. (If it is not open yet, click on your account icon, select "My Collection" and click on click on the collection you just created)
- Click on the "Add Item" button on the top navigation menu.
- Create a new item window will now open up.
- You can drag you art file, it can be image, video, audio or 3d model. File size should be less than 40mb.
- Give your artwork a name and a description. You can also add a link for more info on the item here.
- You can add properties. That is most relevant to collection with many similar items that differ from each other by certain elements.
- On supply list the number of copies you want to list of the same item.
- Make sure that the selected blockchain is Polygon and click create.
Step 6: List Your NFT for Sale
Listing an artwork for sale for the first time is the place where one will be required to pay gas fees. That is you used the Ethereum blockchain. Polygon blockchain will not require any fees to complete this process.
- Open the NFT you just created.
- Click on the "Sell" button on the top.
- A pop window asking you to set the price will appear. Set the price for your NFT.
- Now you will be asked to unlock currency. You will only need to unlock currency once for the first listing you make. Click unlock.
For me, it took a couple of sessions to properly unlock currency. Several times I tried to unlock the currency for the first NFT I listed for sale I got an error message stating: ” There was an error with your transaction, please try again”.
I was a bit worried that it might be due to the 0 eth on my wallet, but it had nothing to do with that. Apparently, that was just a technical issue on Polygon (Which may happen from time to time), a day after the same operation went smoothly without any change on my part.
- Now you will be asked to sign your listing.
- After you sign the listing you will get a message that your NFT is listed for sale.
Now What?
Now it is time to market your work and get it sold. Marketing is still a field I try to understand. It seems that being active on the relevant channels on Twitter and discord can be helpful. Any tips you can share are highly appreciated.
Stay tuned for new updates on the topic and check out my NFT Collection.
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Last updated on December 19, 2023 1:47 pm
As an enthusiast and expert in the field of NFTs (Non-Fungible Tokens), I bring a wealth of knowledge and experience to guide you through the intricacies of this rapidly growing phenomenon. My understanding extends beyond the surface, delving into the technicalities and practicalities of creating and selling NFTs. Allow me to provide a comprehensive overview of the concepts touched upon in the article you've shared.
NFTs (Non-Fungible Tokens): NFTs are unique digital assets that represent ownership or proof of authenticity of a specific item, usually on the blockchain. They are indivisible and cannot be exchanged on a one-to-one basis like cryptocurrencies such as Bitcoin or Ethereum.
Minting: The process of minting involves creating an NFT by associating a smart contract with a digital asset. This process establishes a link between the owner and the unique digital item. Minting can be done through code or automatically when uploading artwork to a specialized NFT marketplace.
NFT Marketplaces: Several marketplaces facilitate the creation, buying, and selling of NFTs. Some popular ones mentioned in the article include Opensea, Rarible, SuperRare, Foundation, Mintable, Nifty Gateway, AtomicMarket, Solana, Known Origin, and Async Art. These platforms vary in terms of the cryptocurrency used, fees, supported file formats, and other factors.
Gas Fees: Gas fees are costs associated with transactions on the Ethereum blockchain, covering the computational energy required for processing. Different marketplaces have varying fee structures, and gas fees can fluctuate based on network activity. Mintable Marketplace and using the Polygon Network on Opensea are highlighted as options with no gas fees.
Creating a Digital Wallet: To participate in NFT marketplaces, users need a crypto wallet. Metamask is recommended, as it is widely supported and user-friendly. The wallet stores the cryptocurrency earned or spent on NFT platforms.
Creating an NFT: The article outlines the steps to create an NFT on Opensea, emphasizing the importance of selecting the Polygon blockchain for a gas-free experience. Creating a collection, adding graphics, providing details, and specifying royalties are crucial steps in this process.
Listing and Selling NFTs: Once an NFT is created, it can be listed for sale on the chosen marketplace. The article highlights the necessity of paying gas fees for the first listing, depending on the blockchain used. Marketing strategies, particularly on platforms like Twitter and Discord, are suggested for promoting and selling NFTs.
In summary, the article provides a comprehensive guide for creators looking to enter the NFT space, covering everything from selecting marketplaces to the intricacies of minting and listing. It serves as a valuable resource for both beginners and experienced individuals navigating the evolving landscape of non-fungible tokens.
