Are you a creator and want to convert your digital artwork into an NFT? Well, creating and selling an NFT is a long process. Both before and after creating your artwork, you will need to follow many steps in order to make your NFT project a success.
Here are the steps you need to follow while creating your NFT project.
You need to keep in mind several things to create an NFT.
Step 1: Determine what kind of NFT You Want To Build
As a creator, the sky’s the limit. You can convert any artwork into NFT if you want to, as long as it fits in the landscape of non-fungible tokens. While brainstorming and considering the right ideas, consider NFTs are digital assets that cannot be interchangeable.
They are one of a kind and cannot be duplicated. So far, NFTs are wowing the crypto enthusiast from in-game collectibles to getting digital real estate.
The blockchain will determine ownership of an NFT, that makes them safer from online frauds or malicious third party attacks. They are also simple and straightforward to trade, you can simply exchange them/sell them for a price and the digital ledger will keep track of this entire transaction for you.
How To Select Your NFT category
First thing first, determine your target audience first and understand their needs of where they will use this token. Ask yourself the following questions:
- Will you create the NFT collection by yourself or will you hire a creator?
- Would others be able to buy and swap your collection?
- What will be the USP of your NFT collection and how will it attract the users?
- Where will your NFTs get used? What purpose will it serve?
- Which platform will you use to mint them?
- What will be the worth of the collection?
- Will it be a limited edition or will you create layered NFT artwork?
- Who will be your direct/indirect competition?
- What is your actual goal?
Once you get the answers to these questions, you will be able to plan your NFT collection accordingly.
Some Examples of NFTs
NFTs are digital tokens. You can also create a digital copy of the physical world and call it an NFT if it is non-fungible. For example, the NBA has created NFTs of specific times in professional basketball history as well.
- Unique digital art
- Domain names
- Music album
- In-game purchases
- Game characters
- Event tickets
- Photographs & logos
Need actual samples? Here are some:
The legendary actor and entrepreneur released a collection of NFTs of personal memorabilia from his great career in July 2020. The Star Trek alum sold out within 9 minutes. Want to know what was in the group?
- Early headshots
- Photos of Shtner hugging Star Trek co-star Leonard Nimoy
- An X-ray of Shatner
Who doesn’t know the former CEO of Twitter? Well, Jack sold his first-ever Tweet from March 21st, 2006 as an NFT online. An internet user bought that Tweet for $2.8 million. The Tweet simply said “just setting up my twttr.”
It’s very ironic that the platform’s first tweet had a typo and the social media giant still does not offer any editing feature.
Decentraland is a blockchain-based, world’s first decentralized VR platform. The NFTs are anything you can imagine and build. They are offering digital real estate, pieces of art and in game items to buy as NFT collections.
Nike’s NFT Sneakers
Nike always have their extensive line of sneakers to cater a variety of audience and subcultures. They are high on active wear, fashion and in the customizable shoes as well. Now, Nike has stepped into new digital ventures and will offer shoes as NFT collectibles.
Just like collectible shoes and tickets, Andrés Reisinger released an entire line of NFT furniture. It was exclusive to the metaverse users and the most expensive work was sold for $69k. It includes a complex range of sofas to tangled chairs in their NFT collection.Nike always have their extensive line of sneakers to cater a variety of audience and subcultures. They are high on active wear, fashion and in the customizable shoes as well. Now, Nike has stepped into new digital ventures and will offer shoes as NFT collectibles.
Step 2: Pick The Right Platform
Pick up the right marketplace and the platform where you will mint, market and store your NFT collection. Always remember, each platform for minting an NFT collection will support various blockchains – from Ethereum to Polygon.
Do make sure that your crypto wallet and choice of platform do match before getting started.
Here is a breakdown of some popular platforms:
SuperRate is a decentralized application built on Ethereum. As its name suggests, it is one of the most stringent platforms for NFT acceptance. About 1% of artists who go through the application process will get an approval to host their NFT collection on the platform.
OpenSea is also a decentralized marketplace for all your blockchain assets. You can store, sell or buy anything from hot new collectibles to precious artwork with ease. It is also one of the world’s oldest marketplaces that supports Ethereum, Polygon, and Klaytn blockchains on it.
By now, you would definitely have seen an advertisement of Binance! It is a leading global crypto-finance company. Its NFT marketplace supports the storage, creation, sale, and trading of various digital collections. Unlike SuperRare, anyone can mint an NFT on Binance.
Wax is working on the EOS blockchain. Users can create their digital assets modeled after real-world items, for example celebrity sneakers. Wax is the platform actor William Shatner uses to sell his NFT memorabilia.
Breakout Audio app lets you display and sell your NFT with the collaboration with DataVault on our platform. You can buy or sell your NFT collections on Breakout App users and peers.
Breakout Audio app is a unique place to sell your NFTs as it provides an open-source platform that enables you to control your NFT collection completely. Breakout is ideal for any creator as it is an voice-based social media app, that will help you to promote your own NFT collection on the live audio rooms as well.
Step 3: Add Funds To Your Crypto Wallet
Majority of the NFT minting blockchain will demand a gas fee from you when you want to mint your NFT collection on their blockchain. These are similar to the transaction fees you pay to banks in order to make payments.
To pay these fees, you will need to add some funds in your crypto wallet. For instance, if you are using a wallet on an app like Coinbase, you can add funds directly to your bank account. However, for other wallets, you can make a P2P (peer to peer) transaction and get funds into your wallet with ease.
Step 4: Create an Account and List Your NFT Collection
Once your Crypto wallet is up and running with some funds in it, you can create an account on the right blockchain to get started. You can start minting your first NFT collection and get started with your buyer/seller account as well.
As the Blockchain technology is getting more popular, minting your creative assets into digital NFT collections does make a lot of sense to maintain its originality. Also, this is the high time when you can start experimenting with digital assets.
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