What is an NFT?
NFT stands for Non-Fungible Token, is a digital asset that has been tracked for identification and copyright. This verification is done with the aid of blockchain technologies. The blockchain acts as a public ledger, allowing everyone to check the identity and authenticity of an entity.
simply it as a digital certificate of authenticity. Old – school art works, vintage items, and other historical objects are often sold at auctions with a receipt certifying their authenticity. NFTs work for the same purpose as digital assets such as images, videos, music, text, GIFs and even tweets can be turned to NFT.
What is fungibility?
Fungibility refers to an asset’s capacity to be interchanged with other assets of the same type; it means that the assets are of similar worth. If you own a fungible asset,you can simply swap it out for another of the same kind. The best example of fungible assets is (you guessed it) money, which makes trading and trade processes easier.
What NFT Can Be Used ?
NFTs can be used to identify almost any physical or virtual item, such as:
Artwork
memes
Virtual items within video games such as skins, virtual coin, weapons and avatars
Music
recipes
Collectibles (e.g. digital trading cards)
Tokenized real-world assets, from real estate and cars to racehorses and designer sneakers
Virtual land
startups
Video footage of iconic sporting moments
Do you need knowledge of cryptocurrency to start create NFT?
To create an NFT, you don’t need a lot of crypto knowledge, but you will need a few tools to get started, such as a cryptocurrency wallet and Ethereum It’s fine if you don’t recognize these thing terms Anything can be set up within a couple of minutes with mobile or computer. we will guide you step by step how to create your nft.
What do I need to start creating NFTs?
Ethereum (ERC 721) Wallet
small amount of Ethereum
Connect your wallet to an NFT Marketplace
Make a Digital Art File for your NFT
In this section I’ll provide step-by-step how to ceate crypto wallet, buy some ETH, and connect the wallet to an NFT marketplace.
You can skip this part if you already have Wallet that supports ERC-721 ( MetaMask, Coinbase Wallet and you can aslo use cryptocurrency exchange. Paxful exchanges are examples of wallets that support the Ethereum-based NFT token standard.
Step 1 : Create An Ethereum Wallet
This wallet can hold your NFTs and you’ll also need to use it to pay blockchain gas fees later on, there is hundreds of platforms offer free cryptocurrency wallets, and all of the options listed below are guaranteed to work with the majority of major NFT marketplaces and blockchain apps.
Coinbase Wallet
MetaMask
MetaMask is the most used wallet for more than one million crypto holders and crypto traders and also it’s easy to connect with other crypto wallets and platforms, it’s available both as a browser extension and mobile app on iOS and Android.
Paxful
Paxful is a people-powered platform for buying, selling, and trading digital currencies makes it easy and secure for you to buy and hold Ethereum With over 300 payment methods to choose from.
Step 2: Purchase a small amount of Ethereum
There are fees with converting your content into an NFT on most major digital art platforms. I’ll go over that in greater detail later, but for now, you’ll need to buy some Ethereum (ETH) to pay the expenses of making your own NFT.
Ethereum’s price fluctuates from second to second, making it difficult to keep track of.
The simplest way to begin is to set a dollar amount that you are willing to spend and then purchase precisely that amount of Ethereum, I suggest you buy Nearly $50-$100 in ether (ETH). If you use Coinbase’s wallet, you can buy ether using US dollars, British pounds sterling, and other fiat currencies.
Once you have these, you can connect your wallet to a number of NFT platforms and upload the image or file that you want to convert into an NFT.
Best Ethereum NFT marketplaces include:
OpenSea
Rarible
Mintable
Step 3: Connect your wallet to an NFT Marketplace and create marketplace:
After you’ve set up your wallet and bought some ETH, you’ll need to choose a marketplace where you’d like to make an NFT and sell your art work. If you’re just getting started with NFTs, I recommend starting with opensea it had the simplest and most simple setup of any site I tried. Here’s how the process works on OpenSea,
In this section we will use OpenSea to create our marketplace however Rarible and Mintable all have a “create” button in the top right we will provide you how to create a marketplace at Rarible and Mintable as well.
How To Create Marketplace on OpenSea ?
Click to OpenSea to go to the website
Once you are in click “create” in the top right corner and select “my collections.” From there, click the blue “create” button as shown :
When you click the “create” button, you’ll be taken to a screen where you’ll be asked to connect your Ethereum wallet. When you enter your wallet password when required, your wallet will be automatically connected to the marketplace.To prove you own the wallet address, you may need to digitally sign a message in your Ethereum wallet, but it’s just a matter of clicking through.
There is no charge for digitally signing a message; it is just a way to demonstrate that you own the wallet.
Create collections:
The next step on OpenSea is to pick “my collections” by hovering over “create” in the top right corner. Then, as seen below, click the blue “create” button.
This step consists of you making a folder to store your newly created NFTs in , after you click on ‘create’ a window will appear that allows you to upload your artwork, Fill in your information and include a description.
Once you’ve chosen an image for your collection, you can move on to the next step
add a banner image:
as shown below once you’ve selected an image to your collection. After that, click the pen icon in the top right corner to add a banner image to the page.
Your page should end up looking something like the image below:
upload your first NFT Art work
Congrats now you have your own NFT marketplace, next we will upload our first NFT Art work, music, GIF, or 3D model.
When you’re done, click “create” at the bottom of the page and sign another message in your wallet to validate the NFT’s creation. After that, the artwork can be added to your collection.
Is it free making NFTs?
It costs nothing to make NFTs on OpenSea, some platforms charge a fee. With Ethereum-based platforms, this fee is known as “gas.”The amount of ether needed to execute a specific function on the blockchain – in this case, adding a new NFT to the marketplace – is known as Ethereum gas.
gas prices will range from a couple of GWEI to the high double digits, but they generally fall at the same rate. If you’re not sure about paying more than 8-10 $ to develop a contract, come back in a few hours. At lower gas prices, there’s a decent chance you’ll get faster confirmation times.
During the weekend, when fewer people are transacting value over the network, Ethereum gas fees are significantly lower. If you’re selling various NFTs, this might help you save money.
How to sell your first NFT ?
To sell your NFTs on an online marketplace, click on the item you want to sell, and look for the “sale” button. By selecting this option, you will be taken to a pricing page where you can choose the terms of the sale, such as whether to hold an auction or sell at a fixed price.
The most popular cryptocurrencies for which you can sell your NFTs are ethereum and other Smart contract tokens, but some platforms only support the native token of the blockchain they were developed on, For instance.
In order to complete the process of listing NFTs on a marketplace, a fee may be required. While this isn’t true for every platform, it is important to keep in mind when designing NFTs.
How and where to buy your NFTs?
At this point you already have a crypto wallet, as I explained if you don’t just go and make one, and buy some ETH, there is a many options to go with I suggest you Coinbase as I mentioned before, connect your wallet to one of a marketplace and in this article i will use opensea to show you step by step how to by NfT.
Go to OpenSea and connect your wallet
After you sign in Click on browse
Choose the NFT you want to buy
Check the price and make sure you have enough ETH click on buy now
Click on checkout and pay using your wallet and now you have it
Certain NFTs are only available on some platforms, next we will cover where you can buy NFT.
list of the most popular NFT marketplaces in 2021:
OpenSea
SuperRare
Rarible
Nifty Gateway
Foundation
Axie Marketplace
BakerySwap
NFT ShowRoom
VIV3
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