Want to bring your own to life Non-Fungible Token (NFT)? Whether it’s just to understand how it all works or because you dream of fame and wealth, here’s how to The Pathfinder in 5 steps.
Impossible to escape the NFT craze. Everyone is talking, good and bad, about these unique digital assets. So much so that the desire to create one begins to titillate many people. Moreover, one may just want to know how to participate in the trend, but be put off by the technical obstacle. So we created this short guide to learn how to create an NFT in a few steps.
Before that, let’s go over the basics. NFTs, or Non Fungible Token, are unique virtual tokens. It is a kind of certificate of authenticity of a unique and non-interchangeable digital asset. This can be a work of art (a drawing, a painting, a photo, a piece of music, a video, etc.) or proof of ownership of a particular asset (a house, for example, with a precise address, a unique architectural plan, etc.). Proof of possession is stored and encrypted in the blockchain.
Step 1: create a work of art
If NFTs are not limited to this, the work of art is the best known form. So the first step is to craft something that can be turned into a non-fungible token. It can be a photo, a drawing, a painting, a video, an accessory for a video game, a meme… Let’s start from the idea that we are going to make an NFT from a digital photo. It’s up to you to take a snapshot or search your archives to choose one and put it in PNG format, the most popular digital format for this kind of NFT.
Here is our shot selected for the occasion:
Step 2: Get a Wallet (and some cryptocurrencies)
To create an NFT, you will have to “enter” Web3, that is to say find your place in a blockchain. To do this, you must have a Wallet, a virtual wallet in which you can store your NFT – ad vitam æternam or while waiting to sell it. It is also thanks to him that you will be able to recover the money from the sale of your NFT.
There are many free Wallets that you can download. We can mention MetaMask, ZenGo, eToro, Coinbase, Binance… To choose the one that will suit you, it is first important to know which blockchain and which cryptocurrency you want to go for. In this example, we will choose MetaMask, simply because it is currently the most popular Wallet on Web3. And for crypto, we choose the Ethereum blockchain and its Ether currency, which is, after Bitcoin, the second most popular digital currency.
Step 3: choose a platform on which to sell your NFT
In theory, you can completely free yourself from a sales platform, since it is possible to transfer your NFT – and the money from the sale – from your Wallet to another directly. In reality, you will still need a platform to showcase your NFT and let people know it exists. Again, for the purposes of our example, let’s go to efficiency by choosing OpenSea, the best-known NFT platform today. But we could also have opted for rarefor example.
Step 4: Hit your NFT
No violence on the horizon, don’t worry! When we talk about “hitting his NFT” (minting in English), this refers to the manufacture of coins. It was the act of cutting a piece of metal (most often round) and then “hitting” it with a hammer or press to display its monetary value on it, as well as the face of the person. a king or the arms of a noble family. This action gave a value to the coins.
We speak of “hit an NFT” when we enter our digital work into the blockchain, thus giving it a unique existence with its specificities (the work itself, but also the name of its owner, its date of creation, etc.). It is the creation of a document proving that you own something. Concretely, after having created your account on OpenSea, click on the “Create” button, then follow the instructions. In just a few minutes, your NFT comes to life.
Step 5: Sell your NFT
Last step, arguably the most important, put your NFT up for sale. For this, on most OpenSea type platforms, a simple button is enough. Click on “Sell”, then choose your options. It is possible to put a fixed price (here 0.03 ether, i.e., depending on the current price, around 52 euros) and put your NFT on sale for a specific period (one day, six months, etc.). You can also opt for an auction (of variable duration) with a starting floor price.
OpenSea will take 2.5% commission on the transaction amount. But there are also the “fuel costs” to integrate the sale of this very first NFT on the chosen blockchain. These are transaction fees for each new block created on the blockchain, which requires a lot of calculations. The more pending transactions there are, the lower the fees will be, as they are shared by all. These fees are to be paid immediately, which is why you need to have some cryptocurrency on the Wallet. Be careful, these fees can be high depending on when you want to make the transaction. It may be wise to wait and experiment at different times of the day to find the right shooting window.
Discover our NFTby clicking on this link.
Then the process is almost automatic. The buyer pays for the NFT (plus some fees), the creator (you, in this case) gets the money (minus some fees), and the NFT changes hands. With a bit (a lot) of luck, you are now rich enough to buy an island paradise. Or a Pitch.
We want to say thanks to the author of this short article for this awesome content
The step-by-step “L’Éclaireur” to create your own NFT
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