How To Make & Sell An NFT?

How To Make & Sell An NFT?

Are you aspiring to become an NFT artist?

If you are a newbie in the NFT world and looking to mint and sell your NFT collections, then you are at the right place.

Our guide on How to create an NFT will take you through step by step process of minting NFT. It will also assist you in listing and selling NFTs as well as show you how to buy NFTs.

NFTs have become a sensation in the digital realm. From art to gaming, fashion, and the entertainment industry, NFTs have touched most sectors.

Though NFTs are with us since 2014, their market exploded in 2021. The first-ever NFT was “Quantum”. It was created by Kevin Mc Coy. According to him, he developed this innovative technology to free artists from the clutches of discriminatory institutions. He wanted both conventional and digital artists to gain more control over their art through the use of advanced technology like NFT.

Today we witness his vision coming true in not only the art industry but also in other sectors. Artists, gamers, musicians, actors, luxury brands and small entrepreneurs today have complete authority over their creations. They can sell their products and grow their business as they wish.

NFTs have created a global borderless and open market for everyone. There are no biased rules, or regulations in the decentralized world. In this world, talent and creativity get what it truly deserves.

Though NFTs may seem complex, it’s as simple as listing products on Shopify. The third-party platforms and tools have simplified the NFT ecosystem and made it accessible for everyone.

Let us now see how to make an NFT using these platforms and tools.

Minting an NFT simply means converting any physical or digital asset into NFT. It is built over a blockchain network and executed through smart contracts.

However, you do not have to write the codes yourself. You even do not have to directly access the blockchain network or write the smart contract. Its time taking and you probably have to hire a developer to do so.

All you need to do is to understand the basic concept of NFT and the tools you need. Let us now have a look at how to make an NFT.

Before you actually start minting NFTs, you will have to decide a few things.

Firstly, you will have to decide the niche of your NFT collection. Will it be digital art, music, videos, memes or handmade paintings?

Secondly, you have to pick an item to convert to NFT. You must have the legal ownership rights of the item you choose to convert to NFT. You cannot convert any asset into NFT and sell it if you are not the owner.

If you look at successful NFT collections, all have a particular niche. The million-dollar worth NFTs are creative and rare and narrate a story. Your NFT will sell high only if it’s unique, conveys a story and connects with the audience.

It is the blockchain technology that has made it possible to create something like NFTs. After you have decided your niche and picked an item, it’s time to select a compatible blockchain network.

Here are a few things that you should know about Blockchain and NFTs.

· While minting an NFT, you will have to pay gas fees on the blockchain network.

· The amount of gas fee you will pay depends on the blockchain network you choose.

· Ethereum is widely used for minting NFTs. However, it is quite congested and therefore has very high gas fees.

· You can go for cheaper alternatives like Solana, Cardano, BNB, and Polygon.

· You will have to pay the gas fee in crypto of the blockchain network.

· If you choose Solana you will have to pay gas fees in SOL crypto.

· Moreover, you can mint and list your NFTs on those blockchains that your selected NFT marketplaces support.

· If your selected NFT marketplace only supports Solana, Ethereum and Polygon. Then you will have only these options to mint your NFTs.

The next step in our guide on how to create an NFT is setting up your NFT wallet.

You will need an NFT wallet to securely store your NFTs and buy crypto to pay the gas fee and platform charges.

There are several trusted NFT wallets like MetaMask, Trust Wallet, Coinbase Wallet and others. You can choose any of these best NFT wallets and create your account on them.

After you have set up your NFT wallet, it’s time to move on to the NFT marketplace.

NFT marketplaces are third party platforms that offer you tools to create, sell and buy NFT. These are very user-friendly websites where you can create and sell NFTs in just a few simple clicks. You can even explore rare NFTs on these marketplaces and bid to the sellers.

There are several NFT marketplaces like Opensea, Rarible, Mintable etc. You can explore the best NFT marketplaces online, compare their features and select the one that suits you the best.

However, if you are planning to open an NFT brand, then NFTICALLY is the right platform for you. At NFTICALLY, you get access to cutting edge technologies and automated NFT tools. These tools help you launch your white label NFT store in just a few clicks. NFTICALLY features include cross-chain support, fiat support, email integration, SEO & marketing tools, NFT APIs and utilities.

After you have selected the NFT marketplace, follow the steps to mint your NFT collection.

· Create an account on the NFT marketplace using your email id.

· Fill in all the details asked and complete your profile.

· Connect your NFT wallet to the NFT marketplace account.

· Go to the option “My Collections” on your profile.

· Then click on “Create New Collection”

· Now fill in all the details like collection name, cover photo and description.

· Then Click on “Create”.

· Now go to the collection you just created and click on “Add Item”

· Then upload the item you wish to convert to NFT.

· Enter all the details like Item name and description.

· Then set your royalty percentage.

· Also, select the blockchain network.

· Now click on “Create” to mint the NFT.

· Your NFT is minted.

Please note that once you list your NFT only then it will be available for sale on the market. Right now, you have only created an NFT.

To list and sell NFTs, follow the steps.

· Go “My Collections” section in your profile

· Then Open the NFT you wish to list.

· Click on List

· Then enter the supply amount, listing duration and all other details asked.

· Sign your NFT with your wallet.

· After deducting the gas fees your NFT will be listed on the marketplace.

· You will now start receiving offers and bids.

To buy NFTs, you will also have to set up an NFT wallet and create an account on the NFT marketplace.

Then you can explore hundreds of NFT collections and place bids. If the seller accepts your offer, you will receive a notification. You will have to then pay the agreed price in crypto to buy the NFT.

However, you should research the NFT, its creator, rarity score, market popularity and other factors before buying one.

Originally published at https://johnmikey.medium.com on May 19, 2022.