Over the last year, NFTs have become a cultural phenomenon, constantly making headlines as celebrities dabble in the space and shenanigans, scams, and legal battles ensue. While it’s difficult to predict whether they’ll retain or regain their popularity following a market downturn or two, there are still plenty of reasons why someone might want to try their hand at making one. Who can resist a field from which creators have made millions? Also, do check out nft developer in Malaysia here.
Here are some simple steps to create an NFT:
- Figure out what an NFT is
- Non-fungible tokens (NFTs) are digital tokens that are stored on the blockchain. Unlike cryptocurrencies, where each coin is the same (there is no reason to prefer one Bitcoin over another), each NFT is unique and can be sold to prove ownership over some type of digital file.
- Technically, you can sell any digital file as an NFT, but if you want to use a marketplace’s easy minting tools, you’ll be limited to the formats they support. We’ll go over this further later, but keep in mind that your first NFT should most likely be an image, video, or audio clip of some kind. If you don’t know what you want to sell as an NFT yet, these constraints may help you narrow down your options.
- Make sure you want to sell an NFT
- If you just have a vague idea that you want to make an NFT because everyone else seems to be doing it, there are a few things you should think about. The first major issue is transaction fees. While the platforms we’ll discuss today allow you to create NFTs for free, selling them may be more difficult.
- The majority of NFTs are sold on the Ethereum blockchain and every transaction on the Ethereum blockchain incurs fees that are paid to miners. These fees are known as “gas,” and the amount of gas required for a transaction (and thus the cost of that transaction) can vary greatly. Almost everything you do on the blockchain will cost gas, from minting an NFT to transferring it to someone else to bidding on one.
- Choose a platform to sell your NFT on
- There are dozens of platforms that allow you to sell NFTs across a wide range of blockchains, making it nearly impossible for any single guide to cover them all, let alone tell you which one is best for your project. We’ll go over two of the most popular marketplaces in this guide, but know that there are alternatives if neither of these platforms fits your needs, such as AtomicHub, which uses the Wax blockchain, or Solsea, which is based in Solana.
- Set up a wallet
- Wallets are the applications that you use to store your cryptocurrencies as well as any NFTs that you mint or purchase. Coinbase has a more detailed explanation of how wallets work and the various options available, but if you’re just getting started, there’s really only one thing you need to be concerned about: using a wallet that is compatible with the blockchain you’re using.