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Highlights
- NFTs can act as a vehicle for just about any art form – music, painting, film, poetry. Heck, even a tweet can be made into an NFT.
- What gives NFTs their value is the fact that it’s unique. One unique item with one owner.
- There’s no step-by-step guide to becoming the next Beeple. Like any commercial endeavour, you have to create a product that people like.
Art is expression. Throughout the millennia, the human race has created various ways to express ourselves. From music to dance to painting, there’s no limit to how one can express human thought and emotion.
Similarly, the vehicles for art are many and changing. Take music as an example. In the late 19th century, Thomas Edison invented the phonograph – a mechanical device for recording and reproducing sound. Then compact cassette, CDs to today where we consume music largely through downloading an MP3 file.
The latest vehicle that artists of all kinds are pining over is non fungible tokens or simply NFTs.
NFTs can act as a vehicle for just about any art form – music, painting, film, poetry. Heck, even a tweet can be made into an NFT.
But how do you create an NFT? Well, here are six easy steps to make your first NFT.
- Decide On The NFT
Obviously, you’ll have to choose what kind of content you want in an NFT. People have sold digital art, music, audio recordings, poetry and internet memes, amongst other things. What gives NFTs their value is the fact that it’s unique. One unique item with one owner.
- What’s My Blockchain?
Once you’ve decided what your NFT is going to be, you need to find a blockchain to put it on. The most popular of these is Ethereum but there are others to choose from as well, like Binance, Polkadot and Solana.
- Get Some Crypto
To create an NFT, you’ll need to fund that NFT with some cryptocurrency. To do that you first need to set up a crypto wallet. When you’ve set up this wallet, you’ll have access to the different cryptocurrencies available.
The most popular crypto wallets include MetaMask, Alpha Wallet and Coinbase Wallet.
Then, buy some crypto to set up your NFT. If you are using the Ethereum blockchain to do this, you’ll want to use Ether, which is the token that powers the Ethereum blockchain.
- Choose an NFT Marketplace
NFTs are traded publicly on a marketplace. The other thing NFT marketplaces help you do is set up your NFT. Be aware that different marketplaces are suited to varying types of NFTs. For example, the NBA Top Shot Marketplace is the best for anything basketball related. Also, be aware that some marketplaces use their crypto. For example, if you’re using Ethereum, Mintable is a great marketplace as it offers a range of NFTs, including gaming, art, music and other collectables.
There are many marketplace to choose from but the most widely used are OpenSea, Axie Marketplace, NBA Top Shot Marketplace, SuperRare and ThetaDrop.
- Upload the File
The next step is to mint your NFT. Your file might be an MP3, JPEG or even a Word document. Whatever it is, the marketplace you choose will have a guide to help you upload it.
- Monetise Your NFT
Finally, you’re going to set up a way to (hopefully) make money off your NFT. There are different options depending on the marketplace.
- You can sell your NFT at a fixed price. The first person willing to pay that price gets the NFT.
- Set a timed auction. This will allow those interested a time period to put in their bid.
- Set up an unlimited auction where there’s no fixed time on when a person can submit a bid. If you receive an offer you like, you can just accept it on the spot.
And boom! It’s as simple as that. Obviously, this is the easy part. There’s no step-by-step guide to becoming the next Beeple. Like any commercial endeavour, you have to create a product that people like. You need to keep on top of what’s out there and what’s selling to get an idea of that. Best of luck and get minting!!
