In this guide, we’ll show you how to create your own digital art, and how to sell it online for the first time.
What’s an NFT?
Non-fungible tokens are pieces of unique data stored on a blockchain. An NFT could be a video, image, a GIF, or any form of digital art. NFTs represent digital ownership of a piece of art, music, and many other file types. NFTs are unique pieces of data that can represent anything from videos to images to GIFs. They allow for digital ownership and can be used for a variety of purposes such as trading or storing data. ..
Fungibility is what makes NFTs unique and valuable. It means that you can exchange them for other NFTs, or that one ounce of gold has the same value as any other ounce of gold.
Non-fungible tokens (NFTs) are digital assets that are all unique. You can’t exchange one NFT for another NFT, making them non-fungible. This makes them a new type of digital asset that has the potential to revolutionize the way we think about and use digital assets. ..
An NFT is not an object, but a string of characters that can be used as proof of ownership. An NFT can also publicly certify that your digital file is authentic and not a copy. ..
How Do NFTs Work?
Cryptography is a process of transforming data into a form that can be read by computers. This is done by using a code that is unique to each document, and then breaking the code into small pieces that can be read by computers. This code is then used to create a digital token.
A blockchain is a digital ledger of all cryptocurrency transactions. It is constantly growing as “completed” blocks are added to it with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin, Ethereum, and other cryptocurrencies are built on top of blockchain technology. Smart contracts are pieces of code that allow for the secure storage and transferability of NFTs on a blockchain. These codes manage the ownership and transferability of digital assets like cryptocurrencies. ..
How Much Does Selling NFTs Cost?
When you sell NFTs, you should expect to spend some money on it. Most NFTs rely on the Ethereum blockchain for transaction validation, and even NFT creation can cost you money.
Ethereum gas fees vary depending on time of day, platform, and digital asset. While you can’t avoid paying gas fees, you can minimize them by waiting for gas prices to go down. You can use websites like Etherscan to find out the current cost of Ethereum gas. Another reason there’s no fixed price for creating and selling your NFT is because the NFT gas fees also depend on the size of your digital asset and how complex the transaction is.
On Ethereum, buyers pay gas fees of 0.25 ETH per transaction. On ERC20 NFT platforms, sellers pay gas fees of 0.50 ETH per transaction.
$70 to produce (mint) one NFT, $15 to list your NFT on the blockchain, and $50 to auction the NFT.
If you decide to abandon the idea of selling your NFT, you’ll also have to pay a couple of dollars for destroying your token. ..
There are many different platforms and blockchains where you can mint and sell your NFTs, all of them have their own advantages and disadvantages for NFT creators. Some of the most popular platforms are Rarible, Opensea, and Superrare. Some of the most popular platforms for minting and selling NFTs are Rarible, Opensea, and Superrare. Each platform has its own advantages and disadvantages for NFT creators. For example, Rarible is popular because it allows users to create custom tokens with a wide range of features, while Opensea is popular because it offers a fast and easy way to sell NFTs. Superrare is unique because it allows users to mint new types of NFTs that don’t exist on other platforms. ..
Before choosing a platform to create NFTs on, you need to research gas prices and transaction fees in advance. While popular blockchain platforms like Ethereum are great for creating NFTs, other popular choices include Polkadot, Tezos, Polygon, Binance Smart Chain, and Cosmos.
If you’re just getting started with the NFT business, follow our instructions to use the OpenSea platform and Polygon blockchain, since this combination allows you to create and list your NFT for free (without paying gas fees). ..
How to Create Your First NFT
To create a NFT on OpenSea, you first need to connect your crypto wallet to the platform. There are plenty of services that you can use to connect your wallet. Metamask and Coinbase are two of the most popular ones. They’re beginner-friendly and allow you to have your Metamask or Coinbase wallet ready to use in just a few minutes. Once you have connected your wallet, you can start creating NFTs.
How to Create a Cryptocurrency Wallet Using Coinbase
- Log in to Coinbase
- Create a new account
- Enter your name and email address
- Click on the “Create a new wallet” button
- Enter your desired password and click on the “Create” button
You can now access your Coinbase crypto wallet from the extensions list on your browser. You can use it to quickly view your crypto balance, as well as see your NFTs and a list of transactions.
How to Create Your First NFT Collection on OpenSea
OpenSea is a platform that allows you to store and trade your cryptocurrencies. You need to connect your Ethereum wallet to OpenSea in order to use the platform.
To create a new NFT, first connect your wallet to OpenSea. Once connected, follow the steps below:
- Click on the “NFT” button in the top left corner of your OpenSea account.
- In the “NFT” window that pops up, click on the “Create New NFT” button.
- Enter a name for your NFT in the “Name” field and choose a description for it in the “Description” field.
- Click on the “Create NFT” button to create your new NFT! ..
How to Mint an NFT
OpenSea is a great place to mint your first NFT. ..
Your NFT will be minted and ready to use in just a few seconds. After your NFT’s minted, you can edit it to change the description or any other details.
How to Sell Your NFT
When you mint an NFT, you can list it on OpenSea and wait to make your first sale. To sell your NFT, open it from your collection and select the blue Sell button in the top right corner of the screen.
The minimum price you can set for your item in ETH is $2. If you don’t want your NFT to be available immediately, you can set any day in the future to be the start date of your sale. OpenSea also allows you to reserve your NFT for a specific buyer. If you choose that option, you need to fill in the buyer’s crypto wallet address.
We set an ambitious 1ETH price for our piece of art. The price and the sale duration are two things you won’t be able to change later, so you shouldn’t rush when completing this step. We recommend having a look around to see how much other users are asking for similar art pieces before you decide on yours.
To finish listing your NFT, select Complete your listing. OpenSea will request you to submit your electronic signature through your crypto wallet.
Congratulations on listing your first NFT on OpenSea! However, minting and listing your NFT is much easier than actually selling it. On Opensea, you can only choose the duration of your sale. On other platforms like Rarible, you can also set up a timed auction or unlimited auction to improve your chances of selling the token. ..
One way to increase your chances of success with art is to have a following on social media. You can use this following to promote your art, give away NFTs, or giveaway specific pieces of art. You can also do small giveaways in order to get people’s attention.
A Pro Tip for Selling Your NFTs
The main reason why NFTs are selling well is because they are coming from established artists and social media influencers with big followings.
If you create your NFTs with the intention of selling them, you need to think about how they could be used in more than one sphere. For example, if you sell your NFTs as a digital asset on the blockchain, then you need to consider what value it has apart from being a digital asset.
NFTs are digital tokens that have the potential to become popular among buyers and sell. A good example are the NFTs that illustrate and raise awareness about the conflict in Ukraine. They’re also used to raise money for charities.
