Maybe you read in an online magazine about the guy that took selfies for 5 years and made a million bucks from his NFTs or about the 12-year old coder who earned 400k selling NFTs. And you think for yourself… wait?!?.. I can do that too.
Well, yes you can and I will show you how.
But first a little disclaimer: don’t trick yourself into thinking that selling art in the NFT space is easy. Although stories about 12-year olds and selfies from an Indonesian boy sell well for magazines, this doesn’t mean that it is happens often or is easy to do. Actually, research suggests that only 25% of NFTs are sold with a higher price than 15 US$ and only 1% of NFTs sell for higher than 1500 US$.
So after we got our expectations right, we can go about this topic.
Creating an NFT
I am not really good at drawing but with the help of my GF I managed to draw this art. I call it “Hans of the Metaverse”. Beautiful isn’t it!!! I also added a little quote to make it fancy.
HANS OF THE METAVERSE NFT
In order to create your NFT you need to mint it onto the blockchain. Which is a fancy way of saying you create an NFT. In order to do just that and make it an NFT you need to follow certain steps.
Step 1: Go to Opensea.io and log in.
Usually all marketplaces work quite similar in that they allow you to make NFT.
Step 2: Click create
Step 3: Add the file (picture, piece of art in a digital form), give it a name and description.
My NFT is called “Hans of the Metaverse”. The description usually contains something about the collection or about the piece of art. As a minimum the NFT needs to have a name (in addition to the file ofc).
Step 4: Choose a collection, properties and the supply.
Collection: You can mint the NFT to your accounts collection or you can create a new one. For example, I made an NFT x-mas card collection that I sent out to friends. As I am not planning to make 10k NFTs I decided to put the NFT into my regular accounts collection.
Properties: see step 5
Supply: You can choose the supply of your NFT. Should there be just 1 or should there be several available. You can think of it like printed copies. If you choose 50 this mean that 50 people will be able to own a piece of the same NFT. This can be extremely useful for tickets to concerts for example. With art, usually a supply of 1 is the best.
Step 5: Add properties
Properties are what makes the NFT rare or not rare. You can manually add properties like e.g. “gender”, “clothes”, “glasses”, etc etc. Properties will shop up underneath your item. They are clickable and can be filtered in your collection´s sidebar.
Step 6: Choose Blockchain, Freeze Metadata, Click Create
Choose Blockchain: there are 3 main aspects to consider when choosing the right blockchain. 1.) the NFT marketplace needs to support certain blockchains. The NFT will only be on one blockchain but it can be traded on all platforms that support the blockchain. 2.) How many users do certain blockchains have? Ethereum is the most used blockchain currently but others like Solana etc are on the rise. 3.) How high are the fees for using a blockchain? Ethereum´s prices are ridiculously high (can be as high as a few 100 $), whereas the fees on Polygon and Solana are very low (only few cents). Choose your blockchain wisely.
Freeze Metadata: After you create the NFT you can edit it until you decided to freeze the metadata. Once frozen, it cannot be changed anymore.
When you click “create” you created your first NFT. Congrats!
Step 7: Your NFT creation was successful! Wohooo!
(Optional) Step 8: Edit or Sell your NFT
After the creation you can choose to sell your NFT or edit its metadata. You will be asked to put the price at which you would like to list it and confirm it with your wallet.
Step 9: View your NFT details
You can view the properties that you added, the details about the contract, the blockchain etc.
Creating an NFT is not that hard. Selling is an art. Don’t fool yourself and get your expectations up to quickly.
I hope you learned something today and would love you to consider following me on my twitter @0xCryptonite if you like more recent updates about the space.