The Virtual Marketplace: How to Make an NFT
How To Make an NFT
Finally! A Simple Explanation of What NFTs Are and How to Make Them
Intro by Lu, OTL City Guides & Seat Fillers; Content by virtual currency expert, Ben W.
Really quick… Before I get to the content you came here to read, I just wanted to start out by saying that I have no clue about NFTs. I’ve heard of them and I know that thousands of people are searching for “how to make an NFT” every week, but that’s the extent of it.
So, in the OTLCityGuides.com “things to learn” section, I decided to learn something new by reaching out to an expert. Ben is a blockchain, crypto, and NFT writer. And, in my humble opinion, I think he does an excellent job of explaining the entire NFT concept, including how to make one. I got on the first read, and hope this helps you, too!
Introduction to Non-Fungible Tokens
Advancements in technology have really accelerated the growth of the digital marketplace. However, besides just being a conduit for facilitating the sale of goods to online shoppers, the internet has recently become a bonafide producer of goods. This is due to the emergence of several digital-based products which are entirely virtual and traded on the internet.
These digital-based products include cryptocurrencies and other blockchain technologies. And with that said, today we will talk about the present moment’s in-thing; NFTs. They’ve been all the hype in recent business and investment circles. But what exactly are they?
What are NFTs?
NFTs stand for Non-Fungible Tokens. They are essentially non-interchangeable units of data that can represent virtual assets as well as real-world assets. Therefore, NFTs can provide proof of authentic ownership for real estate that exists the same way they provide ownership proof of digital artwork.
Why Should I Know How to Make Them?
NFTs have had incredible success stories like other digital assets, with people making hundreds of millions from selling these tokens. Therefore, these stories may have inspired you to trade NFTs and earn some passive income from them or completely turn your life around financially. And if that is the case, you need to know how to make an NFT.
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A Comprehensive Guide on How to Make an NFT
While the trading of digital assets like non-fungible tokens may wield the promise of potentially earning investors very high profits, one needs to be very careful when investing. This is because you need to have accurate information on how they’re made, how they’re sold, and when they should be sold. Otherwise, you may risk running losses.
Here’s a simple guide on how to make an NFT.
1. What do you want to sell as an NFT?
As we explained earlier, NFTs can take the form of any item, whether it is virtual or real. Therefore, you can sell artwork if you are an artist, poems if you are a poet, or even music and films if you are a creator. The first step in the process is deciding what you want to sell as a non-fungible token.
2. Choose the platform on which to sell your NFT
Non-fungible Tokens are digital assets that exist on the Ethereum blockchain. Therefore, for you to sell a particular item as an NFT, you need to mint it from a platform like OpenSea or Rarible. This way, you’ll be able to get an NFT with a unique signature that fully certifies you as the authentic owner of an asset, whether it is artwork or music.
So, settle on a platform of your choice before moving on to the creation phase.
3. Create a digital version of your item
NFTs are digital assets that purely exist virtually. Therefore, for you to sell anything as an NFT, you must first have it in a format that can be uploaded digitally. You can research and find tools to help you create your digital asset.
For instance, if you are a painter, you can find digital devices to help you create your art. If you are a poet, you can record yourself reciting your poems and include other visual and audio elements if you wish to.
4. Mint your NFT
Now that you have your digital-form item and have settled on the platform you would like to use, it’s time to mint your NFT. While it may sound like a complicated process, it isn’t complicated at all.
All you have to do is simply create your profile and upload your digital item. Then, you’ll add details that expound on what it is and establish the percentage of earnings you will be getting as royalties whenever the asset is sold to other people after its initial purchase.
5. Sell your NFT
The last ste is putting it up for sale to prospective buyers. Here, you get to set the price for your digital asset and then share it.
Because blockchain platforms are public, people in your community and other new people will be able to see your NFT. And once someone is impressed by it, they will purchase it.
Knowledge is Power
Trading NFTs can be a profitable venture for anyone interested in the digital economy. However, we strongly encourage you to research extensively before taking the first step. This is because the primary determinant of success in the trade of NFTs is having accurate, high-quality information.
Are You New to OTL City Guides?
If you just found OTL because of this particular NFT blog post, then welcome! OTL City Guides is the sister site for OTL Seat Fillers.
And, you’re now asking “what the heck is OTL Seat Fillers?”
Well, if you love live entertainment like plays, musicals, comedy shows, music, and, sometimes, even sports, then you’ll love OTL Seat Fillers. It’s a unique concept where members receive free pairs of show tickets when venues need seats filled. It’s not a job and there’s no moving around during the event. Seat Fillers are on secret missions, building up the audience while enjoying the show – just like paying patrons.
Find out more at OTLSeatFillers.com.