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How to Make your own NFT Art and Token?

Nonfungible Token NFT is the newest hot crypto becoming very popular among traders and investors in the cryptocurrency market. Many believe that in the coming 10-years, the prices of NFT tokens will increase exponentially. Now, the question is what are NFTs and why you should create your own non-fungible token. Let me walk you through all your queries and provide a clear path to creating your own nonfungible token. 

What is NFT?

NFT stands for Nonfungible Token. It is blockchain-based tokenization of artworks and digital collectibles. The best aspect of these tokens is that they certify digital ownership and authenticity to artworks, making them unique and non-replicable. NFTs are stored publicly on the blockchain, making them verifiable by everyone. 

How did NFTs become so Popular?

  • NFTs have made inroads to mainstream mainly due to NBA, Logan Paul, and Mark Cuban. 
  • Famous digital artist, popularly called Beeple (whose real name is Mike Winklemann) created his famous art series called “EVERYDAYS: The First 5000 Days”. This NFT containing 5,000 digital artworks was sold at a record price of US$69.3 million in March 2021 at Christies auction. 
  • At an auction, Nyan Cat meme’s digital rendition fetched US$590,000 on February 19, 2021. 
  • Othe popular non-fungible tokens that fetched the astronomical amounts of money are:
  • Beeple’s multiple digital paintings including “Crossroads” (sold at US$6.6 million on Nifty Gateway) and “Ocean Front” (sold at US$6 million on Nifty Gateway).
  • Edward Snowden’s “Stay Free” (sold at US$5.4 million on Foundation marketplace)
  • Mad Dog Jones’ “Replicator” (sold at US$4.1 million on Phillips marketplace)
  • XCOPY’s “Death Dip” (sold at US$1.58 million on SuperRare marketplace)

People are spending millions of US Dollars on NFTs currently.

Who can Create NFTs?

NFTs can be created for any artwork by anyone. You can create artwork, turn it into a non fungible token, and then selling NFTs on your preferred marketplace. You don’t have to be a billionaire or a famous YouTube to create an NFT. Once you mint an NFT, you can sell them in popular marketplaces such as Rarible, OpenSea, Nifty Gateway, and many others.  

How to Make your own NFT?

If you are a designer or artist, you must have heard that Beeple’s digital painting has fetched him US$69 million. In case, you want to create a unique stamp for your artwork and sell it on the NFT marketplace, you can create your own NFT. Even if you are not able to earn millions of US dollars, you can definitely brag about having your own NFT arts on Twitter and Instagram. 

Now, let me walk you through the entire process of making your own NFT in a step-by-step manner. 

Step #1: Choose an NFT Creating Platform

The two leading NFT platforms to create nonfungible tokens are:

  1. Create NFTs on OpenSea: Provides more related services, which includes the ability of creating your own OpenSea exchange-powered NFT webstore.
  2. Create NFTs on Rarible: Dominates total sales figures of NFTs.

Even if you don’t have any technical blockchain knowledge, you can use both the above platforms for uploading your art and creating collections. 

NFTs are most commonly powered by the Ethereum blockchain. When you use a blockchain, you have to pay a certain amount of money for using the network. This blockchain network usage cost is called the gas fee. To tokenize your art piece, you’ve to make this payment. 

  • OpenSea

You can pay a one-time fee through OpenSea Collection Manager to establish a new collection of NFTs. You can create an unlimited number of NFTs from that collection. The OpenSea centralized team can store these non-fungible tokens off-chain until the NFTs are sold. At the time of the NFT sale, the NFT buyer will make the payment for the gas fee that is associated with the transaction. 

Once the payment is made, the concerned nonfungible token will be placed on the chain and transferred. If creating a multitude of cheaper NFTs is your goal, the Collection Manager of OpenSea should be your preferred choice.

  • Rarible

Artists can mint their own NFTs on-chain (on the blockchain) while making the NFT. Therefore, multiple smaller costs are associated with the process. If you are absolutely sure to sell your NFTs at huge prices, Rarible is definitely the best platform for you. 

Step #2: Install MetaMask and Set it up

You should create a software wallet to hold your NFTs. Visit metamask.io and either download the app or add its chrome extension. It is absolutely free and simple to create a MetaMask. You shouldn’t forget the seed phrase as you may need it to recover the wallet. On a conceptual level, you should keep in mind that the NFTs are stored on the blockchain itself and the wallet address or ID designates your ownership. Write down the wallet address on paper and store it securely. 

Step 3: Tokenize your Art

After the creation of the MetaMask wallet, you can make your own nonfungible tokens NFTs. 

Now, let’s see how you can create NFT on Opensea.io. Visit the site and in the menu bar create button. Get started by connecting your MetaMask wallet with OpenSea. Give a name to your NFT collection and click the Add New Item button. Now, upload the file that you want to tokenize. Provide certain properties and statistics to the file for distinguishing it from the rest of your NFT collections. It is important how many copies of the NFT you want to create. Now, provide a retail price for it.

Step #4: List on the Marketplace

You can sell your NFTs through OpenSea by enabling the sale of items through your account. A gas price has to be paid for making a blockchain transaction.  This payment needs to be done only once for creating an NFT collection. 

You can do this by sending some Ethereum (ETH) to your MetaMask account. If you don’t have any ETH, you can buy through a cryptocurrency exchange (say, Coinbase, Coinmama, Gemini, Binance, Kraken, or others). The bought ETH can now be sent to your MetaMask wallet address. 

Anyone can find and buy your NFT artworks or collectible items on the OpenSea marketplace once permission is given on the platform. 

Buy NFTs Now

You can buy and sell NFT tokens against various fiat currencies (US Dollar USD, British Pound, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges. 

If you want to increase your investment explosively in the coming 10 years, buy NFT coins now. Keep an eye on the market news, price statistics, block times, news tips, and others to time your trading of NFTs for maximum profit. 

Diversify your crypto portfolio by including other cryptocurrencies such as Bitcoin Ether ETH, Bitcoin Gold, Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain technology), DeFi tokens (decentralized finance tokens), and others. 

Also, invest in various types of stocks and options (through stocks trading and options trading at stock & options brokers), mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or asset management firm for maximum return. 

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NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

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