How to Make an NFT
NFTs, while on a slight downturn right now, are all the rage in the modern world. As Meta talks more and more about their coming metaverse, you too may be wondering how you can make an NFT.
While making an NFT is easy, know that the creation portion of the process is only a small sliver of what it takes to be successful in the NFT world. Read on to learn more about NFTs and the creation process.
How to Make Your Own NFT
Think you are ready to venture out and make your own NFT? Well, before you can do anything it’s important to spend some time researching NFTs. Know how they work and what you want to accomplish by making one.
Once you’ve done that, it’s time to choose a platform that you want to make and sell your NFT on. Currently, the largest platforms for making and selling NFTs are Ethereum and Solana. But know that these aren’t your only choices. Then, follow the steps below on your desires platform to get started with making your NFT. Know that these are general instructions, and that the exact process on your platform may vary.
Step 1: Make a Wallet
You can’t hope to do anything on a blockchain platform without a wallet on said platform. If you go with Ethereum, the metamask wallet is a great one to have. Otherwise we recommend creating a wallet directly on the platform of the blockchain you plan to use.
Step 2: Click the Create Button
Once you have signed up for the platform of your choice, there should be a create button somewhere on your screen. Click this button to begin the creation process.
Step 3: Upload an Image
When you click to the creation section of an NFT platform, you will likely have an upload option. We recommend doing this if there is some image you would like to turn into an NFT, a picture of your cat doing something funny for example.
Making an NFT collection similar to Bored Apes Yacht Club is an entirely different process, we will come back to that later.
Step 4: Name Your NFT
After the upload has been created, you’ll need to name your NFT. You will also want to take the time now to specify if your NFT is part of a larger collection. If you are selling your own art, or pictures of a cat you think you will eventually have more images to sell of, you should start a collection. If you don’t specify a collection in this step, your NFT will automatically be part of a collection called “untitled” on most platforms.
Step 5: Add Descriptions and Links
There should also be a description field where you should describe what your NFT is to buyers. There is additionally a link field where you can direct buyers to your website, or your Twitter, basically anywhere where they can contact you for more information or to ask for special projects. Double check all the information you have entered, as you may not be able to change it later.
Step 6: Push Create
Somewhere on the page there should be a button to finalize the creation of the NFT. Once you push this button you can’t change anything about your NFT, so ensure it is exactly how you want it to appear. You also may have to pay a fee for the creation of your NFT, so ensure you have enough funds in your wallet before you push this button.
Step 7: List Your NFT
After you push create, you may have to wait a few minutes while your NFT uploads. Once this is done, you will likely see a message confirming it. But know that your NFT isn’t for sale just yet. Instead you will have to navigate to the page where your NFT is, click on it, then likely click a button labeled “list” or “sell” in order to put it up for sale.
Some platforms only allow you to put a fixed price. But if you list on the Ethereum platform you can also place your NFT up for auction and allow users to bid for the final price. Note that if you are selling to specific buyer (for commissioned work) ensure you select this person during the listing process so you don’t accidentally sell their artwork to someone else.
You may need to pay a fee for listing your NFT. Some platforms like Ethereum also charge an initializing fee the first time you list an NFT. This price can be quite high, some users report the Ethereum initializing fee being $80 or up to $240. This fee changes depending on the current price of Ethereum as well as the current transaction fee price.
Can You Make Money Selling NFTs?
Now that you know how to make an NFT, it’s time to ask an important question, is it worth it?
Unfortunately, you making your cat into an NFT and selling it isn’t going to make you rich, unless of course your cat is grumpy cat. But the point is, you are a bit late to the NFT party at this point, and you likely aren’t going to make anything proprietary that hordes of people are going to rush to buy.
Most of the people who are making money in NFTs are doing so through generated collections like the Bored Ape Yacht Club. These are made through Rarible or another Ethereum platform and feature a bunch of similar NFTs. Typically buying one of these allows the purchaser to enter some kind of exclusive club. Either way these are all the rage, and if you can manage to create one that people want to purchase, you may be able to make some money.
A better use however, is for artists who are already making digital art. NFTs are an easy way to collect commission off your digital pieces as well as deliver the product to a buyer in a way that is protected. It is also an easy way for video game creators to make and deliver premium objects to players. This does take coding knowledge though and is not something you can do without knowing a little bit about the video game world.
For those who aren’t artists and are just looking to get rich quick, well, we suggest trying something else besides NFTs, as we just don’t see this happening for the everyday joe, but you never know!