Do you want to create an NFT to make a fortune on the blockchain, but you don’t know how to do it? Follow the leader.
Increasingly popular, NFTs are establishing themselves both as collectibles and as true digital works of art that are snapped up at exorbitant prices on the blockchain. However, creating a non-fungible token isn’t very complicated.. The exercise is also free and only takes a few minutes. We explain how to do it.
What is an NFT?
Before we hope to become an ether billionaire, let’s start by reviewing the basics. An NFT (for Non-fungible token), is a virtual certificate linked to a blockchain, which allows you to authenticate a digital work. Specifically, the file is similar to bitcoin or any other cryptocurrencyas it can be securely sold, stored or traded on a cryptocurrency market.
The only fundamental difference with a non-fiat currency: the NFT is not interchangeable in its value. It would be like comparing a 50 euro banknote and a work of art: if you lend a banknote to someone, it doesn’t matter if they return it, as long as the value matches the one loaned. In the case of a work, it is expected to recover the same, without exchange or equivalence.
From the first tweet in history, to pixel art, to the (live) arm of an athlete, to virtual objects, it is possible to sell practically anything in the form of NFT … provided of course that hold the copyright of the work in question. Then it remains to choose how and where to host your NFT.
How to create and sell your NFT?
Once you have created your work, you need to choose the blockchain on which you want to authenticate your NFT. In general, Ethereum is ideal for digital works, but other alternatives exist. If it has not already been done, it is necessary create a crypto wallet, essential to receive your cryptocurrencies in case of sale, but also to store your NFTs. Again, there are several solutions. If you are a beginner, we recommend that you opt for MetaMaskwhich has the advantage of being versatile and easy to learn.
Once you have created your portfolio, you need to choose a market. This is where you can create and sell your NFTs. Among the best known we can obviously mention Opensea, Rarible or Mintable. All of them present themselves as digital art galleries, where transactions are done in cryptocurrencies. Just note that some platforms require “gas costs” when creating a virtual work. Rarible is the only one to offer an option “Free Mining” on Ethereum, in order to leave this step at the expense of the buyer. You can also use other gas-free blockchains, such as Polygon.
As you may have guessed, it is therefore possible to create an NFT for free, and in a few minutes. Once the file has been uploaded and the details of the artwork entered on the platform, all you have to do is electronically sign the required documents and authorizations. Your NFT exists, it is now accessible directly from your wallet, waiting to find (or not) a potential buyer.
All that remains is to promote your product to entice collectors to buy it, which is undoubtedly the most complicated part of the exercise. Also keep in mind that even once sold, your NFT can continue to earn you a lot: with each resale, the original creator receives a commission.