NFT: 5 Steps on How to Create It

5 Steps on How to Create NFT

NFT or Non- Fungible Tokens (NFTs) are the most popular assets traded in the past year. From selling art and music to GIFs and precious artifacts for millions of dollars across the globe with simple digital transfers.

Therefore, NFT is unique. NFT is a unique and non-interchangeable unit of data stored on the blockchain, a form of digital ledger. NFTs use a digital ledger to provide a public certificate of authenticity or proof of ownership, but do not restrict the sharing or copying of the underlying digital files.

Furthermore, the platform to buy and sell the assets is online. The mode of payment used will be cryptocurrency or digital coins. These NFTs are traded on a special platform called the NFT marketplace.

NFT: 5 Steps on How to Create It

Anyone can view the individual images—or even the entire collection of artworks online for free. So why are people willing to spend millions on something they could easily screenshot or download?

Because an NFT allows the buyer to own the original item and hold it in their possession. Not only that, but it also contains built-in authentication, which serves as proof of ownership. Collectors value those “digital bragging rights” almost more than the item itself.

Insights of NFTs

NFTs seems like one of the most complex assets and Yes, they are. Could you imagine converting your old pictures into digital art and selling them online for thousands or millions of dollars or even selling the first SMS message in the world? It’s time to think about creating your own NFT and making quick money but there is always the flip side.

Creating NFTs can be simple to the most challenging task. NFTs have been around for a while now and have gained momentum in the past year.

There are plenty of self-help tools that are easily accessible at affordable rates for artists to create NFTs or digitize their arts and hold intellectual property rights.

How to create an NFT

  1. Create an Image
    Choose a platform to create and sell your art, some of the popular ones are https://mediamodifier.com and https://www.openware.com that allow you to use the NFT creation tools with access to plenty of graphic designing tools.
  2. Set up your digital wallet
    Link your Crypto wallet to set up the account with minimal charges.
  3. Mint NFTs
    The process that transforms a digital file into a blockchain digital asset.
  4. Pick a marketplace
    Once the NFT is ready the software helps you Mint the NFT (Intellectual property rights) and transfer it to the NFT marketplace platform such as OpenSea and Raritytools.
  5. Complete the listing on the platform and set up the sale process
    once the NFT is transferred to the marketplace platform, complete the listing of the NFT with nominal charges. Setup the sale auction/bid price and timeframe.

Last but not least, it is also important to understand the flip side of NFTs. NFTs are linked to cryptocurrency which at times is very volatile, and also need to understand the buyer sentiment before creating art and converting it into actual sales.  

Sources:
beincrypto.com
mediamodifier.com

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Writer: Rajlaxmi Patil
Editor: Evelyn Tobing

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