How to make an NFT right now: Your uncomplicated guide
In 2021 and 2022, non-fungible tokens (NFTs) were all the rage, and the NFT market boomed. With the bored ape yacht club came a surge of interest in this exciting new technology. Blockchain technology captured the imagination of people from all walks of life. NFT sales, trading volume, and minting NFTs picked up speed. Despite the current bear market, superior technology has not crashed, and there are still plenty of opportunities to profit from this technology.
Have you ever wanted to make your own NFT collection? Well, now is the time because we’ve put together an easy guide on how to make an NFT. This will not only help satisfy that creative urge for NFT creators like you but also maybe even earn some money.
A step-by-step approach on how to mint NFTs
Now that you know the very basics let's get started with the NFT creation part. We'll use Flint Wallet and NMKR Mint to show you how to make an NFT:
Step 1: Choose your digital item
The first step is to choose the digital item before you create an NFT. This can be a digital file, like a photo or animated gif. And the photo can be in jpeg format.
Side note: To plan a successful project launch, you need to consider the value proposition and whether it will make sense in this market. Always keep the buyer persona in mind when selecting the item.
Step 2: Create your account
Flint-Wallet is a great choice for storing your crypto assets after you create NFTs, mainly because it offers broad support options and comes with versions that are available on both Chrome browsers or iOS/Android devices, so you will always have access to your digital wallet no matter what device you use. The installation process should only take about 5 minutes from start-to-finish; there are even Youtube videos to help you through the process. Remember to keep your seed phrase secure and backed up. Losing seed phrase can result in the permanent lost of your assets.
Step 3: Top up your wallet with crypto
To use Flint-Wallet, you need to load it up with cryptocurrency. As Cardano is the blockchain of our choice - take ADA from Coinbase wallet (other alternatives include Binance or Kraken amongst many) and transfer it to your Flint-Wallet address. You can also buy ADA more easily by using GeroWallet (however, the iOS/Android functionality is not yet available). Once everything's been processed successfully (it usually takes some minutes), you will see the current balance in your digital wallet.
Step 4: Head over to NMKR Mint for the NFT minting process
Why not start minting NFT art with your own single or small NFT collection with ease? Simply go to NMKR Mint and follow the simple steps you will be guided through. Choose from one of options for licensing type, select how much royalty fee you want per resale, select sales option (mint only and fixed price), then input all necessary information such as payout wallet address where payments will reflect.
NFT creation: With the mint only selling option, when you Buyare done, just pay the minting fee using payment check-out system NMKR Pay, sign off on it using your digital wallet and you will see your own NFT in your digital wallet. Once you have the asset in your digital wallet, you can go to a NFT marketplace and list your NFT for sale manually.
If you go with the fixed price selling option, you won't be required to pay the minting fee in advance, instead you can create NFTs and then it's just a matter post links on social media sites or websites where people are most likely to browse and buy your NFT from. Only after a successful sale will you be charged the minting fee on top of the Cardano network fee.
Step 5: Go spread the word and sell NFTs!
Now that you're proud NFT creators, it's time to start promoting it. The best way to do this is by using social media and websites where you can sell an NFT directly to your friend or the general public on NFT marketplaces. The buyer of your NFT can also choose to fiat currency payments option through NMKR Pay or with the cryptocurrency ADA.
A deep dive into NFTs
But first, what is an NFT? If you were to define NFT to your grandma, you could say:
“Nan, an NFT is a unique digital asset that can be bought, sold, or traded like a physical object. Unlike a physical object, however, an NFT exists only in cyberspace and can be stored on a blockchain.”
If your grandma still doesn't understand, don't worry. You can try again with this analogy:
“Think of an NFT like a digital baseball card. Just like a physical baseball card, each NFT is unique and can be traded. But unlike a physical baseball card, an NFT exists only in cyberspace and can be stored on a blockchain.”
We hope that with these two definitions, your grandma (and anyone else who may be confused about NFTs) will have a better understanding of what they are. Now that we've got that out of the way, let's move on.
If you are already familiar with crypto, you have heard of Bitcoin. Unlike cryptocurrencies like Bitcoin, which are fungible and can be exchanged for other Bitcoin, NFTs are unique, non-fungible tokens. This means that each NFT is unique and cannot be exchanged for other digital tokens of the same type.
Each NFT is unique and therefore has a different value
NFTs are often used to represent digital assets, such as artwork, videos, or music. They are unique digital items with immutable ownership records stored on a blockchain.
So how do you turn a boring digital image file into something special? With blockchain! Blockchain is an open ledger that anyone can see, and it's spread out over thousands of computers (aka nodes), so no one person or entity has control.
NFTs work by embedding a digital file with unique cryptographic signatures that verify its authenticity and ownership. This process is known as " minting." Once an NFT is minted, it can be traded, sold, or exchanged like any other asset.
What to expect before you make an NFT
To make NFTs, you need to be familiar with concepts of minting, blockchain, and crypto wallets. There's also an understanding needed of what is included in most NFT marketplaces available out there as well as how much transaction fees involved cost in this networked environment for NFTs.
Minting: Making a non-fungible token requires "minting" which simply means publishing a digital asset on a blockchain so that it can be bought and has monetary value. Every digital asset that is minted has metadata associated with it. This metadata contains information about the author, creation date, file format, policy ID, and color of the asset, among other things. In the minting process, the blockchain records and verifies the transaction to ensure that an NFT cannot be tampered with or hacked in any shape or form.
NFT Marketplace: A NFT marketplace is a digital space where users can buy, sell, or trade NFTs. It's an NFT platform that gives users the ability to own, collect, or trade digital assets that are unique and cannot be replaced.
Transaction fees: Transaction fees or network fees are the charges levied on users in order to buy, sell, or trade NFTs. These fees go towards maintaining and supporting its operations, such as long-term storage. They also help with security and ensure that only serious buyers and sellers are using the blockchain network. The current network fee on Cardano can vary between 0.2 ADA to 0.7 ADA which is roughly 0.068 to 0.24 in US dollar at the time of this writing. ADA is basically the cryptocurrency used in the Cardano network.
Wallet: A digital wallet is a buyer's wallet that stores your cryptocurrencies and allows you to send, receive, and manage your crypto assets. A digital wallet can also be used to store non-fungible tokens (NFTs).
FAQs about creating NFT
Do I need an NFT marketplace for creating an NFT?
No. For large NFT collections you can create your own NFTs using NMKR Studio and for small and instant mints, you can use NMKR Mint. NMKR Mint and NMKR Store are super easy-to-use tools that can make your jpegs into NFTs within minutes. However, using an NFT marketplace such as NMKR Store can help you reach a wider audience for your NFTs. If you want to list your NFTs for sale, you'll need to create an account on an NFT marketplace.
Do I need a crypto wallet?
Yes, a crypto wallet is required to create and mint an NFT. This is because you need to pay in crypto to create your NFTs and sign transactions on the blockchain. We recommend using Flint-Wallet, which is a free extension for Google Chrome that can be used to manage your assets. Also, if you are looking to sell your NFTs, you need to have a wallet.
Some of the other alternative wallets include:
Some of the benefits of using a crypto wallet include:
Non-custodial (aka self-custodial) wallets are much more secure because of their decentralized nature. Even though you are in the driver's seat, all you need to do is protect your private key.
You have increased control over your assets to approve and sign off NFT transactions, allowing you to send, receive, or trade.
Crypto wallets offer increased privacy and confidentiality as your transactions are not linked to your personal identity.
- Monitor and Track
With the help of tools like Cardanoscan, you can easily monitor and track all your transactions.
Am I required to pay the fees?
It depends. The fee can vary on the number of mints.
You are not charged any fee or minimum price unless your NFTs are live on sale and have been minted via NMKR. However, different fees apply to the number of NFTs you mint.
For example, if you successfully mint a single NFT, you will be charged the service fee as a minimum price of 2 ADA applies plus the network transaction fee, closing between 0.2 to 0.7 ADA per NFT.
Depending on the NFT marketplace of your choice, you may be charged transaction fees. Again, this fee is typically very small and is used to help cover the costs of maintaining the NFT marketplaces.
What can make into an NFT?
Just about anything! As long as it is a digital file like a digital artwork, it can be turned into an NFT. This means that you can mint things like photos, videos, audio files, or physical items. Basically, if it can be stored on a computer, it can be turned into an NFT. This opens up a world of possibilities for NFT artists. In fact, there are already a number of people and businesses who are using NFT sale to monetize their digital art to physical products. We will see more advanced use cases emerge as NFT technology and NFT value continues to evolve. So far, we have just scratched the surface of what is possible.
How do I benefit when I create an NFT as a digital artist?
NFT minting is a great way to showcase your digital creations and gain more visibility. Some are beneficial to end user for their utility, while others are known for offering rarities. Moreover, the creators can gain more control over their digital assets as well as benefit from any future appreciation of the NFT's value. Most NFT platforms also offer rewards and incentives to the creators (depending on qualification requirements), which can help incentivize the creation of more interesting NFT art.
Are NFTs safe from hacks?
Yes, NFTs are generally safe from hacks as the files themselves can not be altered. However, your private keys should always be protected. As long as your wallet is secure and you have full control over your private key, then there is no risk in losing access to your NFTs or having them stolen by someone else. There are a lot of common myths about NFTs, so before you get invested with your time and resources, we recommend you to read and understand the basics such as "how-to" questions about NFTs. If you are ever unsure, it's best to do your own research or reach out to us.
How long will it take to mint an NFT?
You can create your very own NFT or a small collection in minutes all by yourself. You'll also have an opportunity to ask friends if they would like it before finally minting them so that you know how well this works!
Anyone can create and own an NFT. All you need is a digital item, a wallet to store your crypto assets, and NFT marketplaces like NMKR Mint. Creating an NFT is easy and does not require any special skills or knowledge. Beyond just the bewildering jpegs of silly apes, the power of NFTs goes beyond the realm of the digital canvas. There are more interesting real-world use cases that will push the boundaries of how we can use NFTs in our daily lives. NFTs already create a lot of utility in use cases related to books, music, fashion, decentralized finance, and gaming.
The steps between creating NFTs, selling NFTs, to choosing an NFT platform like a marketplace can all sound too daunting. With the complete ecosystem that NMKR offers, the process is much easier. We offer beginners like you everything in one place so that you can sell your NFT and focus on monetizing your NFT artwork as soon as possible. Most marketplaces will require you to have a certain number of followers so that you can get a verification check mark. NMKR follows a Decentralized Identifier method to help you get verified so that you can focus more on social media marketing and growing your community.
Please note that if you want to mint a large collection of NFTs, say 10k in number and define the scope of the project in advance, it would be best to contact us directly so we can help you with planning and launching your project. We also give you options to mint NFT for free so that you can test drive the process with ease. Depending on the project, we can equip you with instructions so that you can mint your large collection with ease by yourself. Feel free to book a call at any time: https://calendly.com/kristianportz/