Learn how to get started in the world of crypto art with our step-by-step guide to creating and minting your first NFT.
A GIF file recently sold for $600,000 at auction. If that comes as a shock, then it might be time to reconsider your definition of fine art and begin to explore the world of crypto and NFTs.
Digital art is undergoing a renaissance and in this article we'll cover everything you need to know to start creating and selling your own art on the blockchain.
What is an NFT?
NFT stands for Non-Fungible Token. It's an alienesque term that I don't like saying aloud, but you can think of it as a digital certificate of authenticity. In real life - classic works of art, antiques, and other historical items are often sold at auctions with a receipt certifying that they are genuine.
NFTs serve the same purpose but for digital items. They allow GIFs, videos, jpegs, mp3s, and just about any other file format to be certified as one-of-a-kind. This technology enables a new kind of "ownership" for digital files that wasn't previously possible. NFTs can be purchased, collected, sold, and even destroyed just like physical items. Thanks to the blockchain, they come with a transparent transaction and pricing history visible to anyone with an internet connection.
The process of turning your work into an NFT is known as "minting" which refers to the act of creating a new token on the Blockchain that will forever be attached to that content. When an artist mints a new NFT, they attach a built-in commision (usually 10-30%) that they will receive any time that work is resold in the future.
Can my content be an NFT?
Probably.
We're living in the wild west of NFTs where almost anything goes. Digital art, songs, memes, recipes, and even entire startups are currently listed for sale on NFT marketplaces. There are currently very few restrictions as to what kind of content can be "tokenized" and turned into an NFT.
The technology is still in its infancy making this a great time to experiment with the medium for your own work as the market and demand for digital art continue to grow. One rule that should go without saying is to avoid turning copyrighted content or assets into NFTs.
What do I need to start creating NFTs?
You don't need extensive knowledge of crypto to create an NFT, but there are a few tools required to get started like a crypto wallet and Ethereum. If these terms aren't familiar - that's okay. You can get everything setup in just a few minutes from your phone.
In this section I'll provide step-by-step instructions to set up a crypto wallet, purchase ETH, and connect your wallet to an NFT marketplace.
Set up an Ethereum Wallet
Purchase a small amount of Ethereum
Connect your wallet to an NFT Marketplace