Want to master how to create an NFT ? You've landed at the proper place! The overnight story of American digital artist Mike Winkelmann aka Beeble, who sold his NFT piece - Everydays: The First 5000 Days - for a whopping $69 million at an auction, shows what NFTs (non-fungible tokens) can do to the lives.
But NFTs are a great deal more compared to the rags to riches stories and digital artwork you see online.
In this blog, we'll discuss everything required to learn about NFT - from the basic principles to the advanced, from creating an NFT to selling it - and help you get an obvious knowledge of this booming industry on the internet.
What is an NFT?
NFTs are digital assets with a unique identity kept and verified on a blockchain (a digital ledger). Each NFT is non-fungible, meaning it can't be readily exchanged for another asset of similar value. Common NFT assets include images, video, music, GIFs, and collectibles.
NFTs hold value since there is just one version of the assets made. Put simply, an NFT can just have one owner at a time—there is no-one to alter its ownership or mint the same NFT on the blockchain. With all this scarcity, creators/owners of NFTs hold the capability to set their particular rates due to their assets.
Create the NFT
Once you've connected the ETH Wallet to Open Sea, you can carry on and create your first NFT. Select Create in the top menu, and produce a collection. Fill in most the data needed, then save. Now you're ready to start the actual minting procedure for a brand new NFT. Select New Item, load your artwork, and give all the details you want about it. Once you're ready to pull the trigger, click create.
Congratulation, you've successfully created a token! To market it on OpenSea, though, you have to open the newly-minted item in your collection and click the sell button. On the selling page, you will have a way to find the Ethereum tokens you'll accept as a payment, if you intend to sell with a fixed price or at an auction, and the royalties you intend to receive from the first and subsequent sales.
Can you mint an NFT for free?
It's possible if the NFT platform you choose supports lazy minting. This method generates metadata for an NFT without actually creating a token of the NFT itself. When someone purchases that NFT, it's then officially minted, and the gas fee incurred is passed onto the buyer. Remember that fees might surprise individuals who are trying to purchase your creations. So while you get to avoid minting fees, you may wind up paying in terms of missed sales and portfolio opportunities https://scamrisk.com/create-an-nft/.
