You want to give life to yours Non-fungible token (NFT)? Whether it’s just to understand how it all works or why you dream of fame and fortune, here’s how to do it The explorer in 5 steps.
Impossible to escape the NFT craze. Everyone is talking, for better or for worse, about these unique digital assets. So much so that the desire to create one begins to tickle many people. Also, you may just want to know how to join the trend, but be put off by the technical hurdle. We have therefore created this short guide to learn how to create an NFT in a few steps.
Before that, let’s go over the basics. NFT, or Non-fungible token, are unique virtual tokens. It is a sort of certificate of authenticity of a unique and non-interchangeable digital asset. It 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 certain property (a house, for example, with a specific address, a architectural project, etc.). Proof of ownership is stored and encrypted on 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 create 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 will 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 type 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, ie find your place in a blockchain. To do this, you need to have a Wallet, a virtual wallet in which you can store your NFT – ad vitam æternam or 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’s right for you, it is first important to know which blockchain and which cryptocurrency you want to choose. In this example, we will choose MetaMask, simply because it is currently the most popular Web3 wallet. And for cryptocurrencies, we choose the Ethereum blockchain and its currency Ether, 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 break free from a sales platform, as it is possible to directly transfer your NFT – and the sale money – from your Wallet to the other. In reality, you will still need a platform to showcase your NFT and let people know that it exists. Again, for the purposes of our example, let’s go for efficiency by choosing OpenSea, the most popular NFT platform today. But we could also have opted for Rarible, for example.
Step 4: Hit your NFT
No violence on the horizon, don’t worry! When we talk about “hitting his NFT” (minting in English), 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 show you its monetary value, as well as the face of the person, a king or the arms of a noble. family. This action gave the coins value.
We speak of “hitting an NFT” when we insert 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 creation date, etc.). It is the creation of a document that proves that you own something. Specifically, after creating your account on OpenSea, click on the “Create” button, then follow the instructions. In minutes, your NFT comes to life.
Step 5: Sell your NFT
The last step, probably the most important, is to put your NFT up for sale. For this, on most OpenSea-like platforms, a simple button is enough. Click “Sell”, then choose your options. It is possible to put a fixed price (here 0.03 ether, that is, depending on the current price, about 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 an initial starting price.
OpenSea will take a 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 must be paid immediately, which is why you must have a 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 NFT by clicking on this link.
So the process is almost automatic. The buyer pays the NFT (plus some fees), the creator (you, in this case) gets the money (minus some fees), and the NFT changes hands. With a little (a lot) of luck, you are now rich enough to buy an island paradise. Or one step.