How to Create Non-Fungible Tokens (NFTs)

How to Create Non-Fungible Tokens (NFTs)

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Non-Fungible Tokens (NFTs) are a new type of digital asset that seems to be the hot topic of conversation everywhere. NFTs are described as nonsensical by skeptics, digital beanie babies or baseball cards by most, and a revolutionary new idea that will change everything from digital content to the way artists interact with fans by true believers.

Introduction to NFTs

Non-Fungible Tokens (NFTs) are digital assets that are either unique or rare. An item is fungible when it can be easily exchanged for commonly accepted equivalents.

For example, a $1 bill can be substituted for another $1 bill or for four quarters or a hundred pennies. NFTs can be unique objects, meaning there will only ever be one of them to ever exist.

They can also be rare or scarce, meaning only a limited number of them will ever exist. There is no limit to what an NFT can represent. 

STEPS TO CREATE NON FUNGIBLE TOKENS.

1. Pick your item

Let’s start with the basics. If you haven’t already done so, you’ll need to determine what unique digital asset you want to turn into an NFT.

It can be a custom painting, picture, music, video game collectible, meme, GIF, or even a tweet. An NFT is a unique digital item with a sole owner. That rarity gives an NFT value. 

Make sure that you own the intellectual property rights to the item you want to turn into an NFT. Creating an NFT for a digital asset you don’t own could get you into legal trouble.

2. Choose your blockchain

Once you’ve selected your unique digital asset, it’s time to start the process of minting it into an NFT. That begins by determining the blockchain technology you intend to use for your NFT.

The most popular among NFT artists and creators is Ethereum (CRYPTO: ETH). Other popular options include Tezos, Polkadot, Cosmos, and Binance Smart Chain.

3. Set up your digital wallet

If you don’t already have a digital wallet, you’ll want to set one up to create your NFT since you’ll need some cryptocurrency to fund your initial investment.

The wallet will provide you with access to your digital assets. The top NFT wallets include Metamask, Math Wallet, AlphaWallet, Trust Wallet, and Coinbase Wallet.

Once you set up your digital wallet, you’ll want to buy some cryptocurrency. Most NFT platforms accept Ether, the cryptocurrency of the Ethereum blockchain platform.

If you already own some cryptocurrency elsewhere, you’ll want to connect it to your digital wallet so you can use it to create and sell NFTs.

Choose an appropriate NFT marketplace

There are various marketplaces where you can upload your art and create an NFT.

Polkadot, for instance, powers the Xeno NFT hub marketplace.

Tezos works on different marketplaces, including Rarible, Bazaar market, and OneOf.

VISIT NFT MARKETPLACE

In connecting to an NFT marketplace, you have a range of choices. Popular NFT marketplaces include:

AsyncArt

AtomicMarket

BakerySwap

Enjin

Foundation

KnownOrigin

MythMarket

Open Sea

Portion

SuperRare

Some of these marketplaces cover the full range of NFTs, such as Open Sea. Others are more specialized. MythMarket, for instance, focuses on trading cards.

SuperRare, as the name implies, strives to be more selective, listing NFT creators only after first accepting them to its platform via an artist profile submission form.

CONNECT CRYPTO WALLET

Once at Rarible.com, connect to your crypto wallet by clicking on the “connect wallet” button in the upper right.

If you’re using Chrome, MetaMask will be the first option you see. Connect to this wallet if you have it. Otherwise use a different wallet.

If you’re in another browser such as Brave, Rarible will give you options for connecting a non-MetaMask wallet. Use one of those options.

CREATE OR BUY NFT

With your wallet connected and some Ether in it to cover costs, now either create a new NFT at Rarible or else buy an existing NFT. 

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