Designed as a faster, lower-cost alternative to Ethereum, Solana offers transaction fees of less than $0.01 and a growing list of supported apps for NFTs. In addition, Solana utilizes both the proof-of-history (PoH) and PoS consensus mechanisms and boasts much faster transaction speeds than Ethereum. Lastly, NFT creators must link their crypto wallets to the NFT platform. Although websites can generally read desktop computer-based and mobile wallets alike, users of mobile wallets are often asked to scan a QR code in order to connect it.
Step 1: Make a Digital Art File for your NFT
One big difference is that NFTs can allow digital artists to earn royalties on all future sales each time their NFT changes hands – this can be coded into the original smart contract. It’s possible if the NFT platform you choose supports lazy minting. This process generates metadata for an NFT without actually creating a token of the NFT itself. When someone purchases that NFT, it is then officially minted, and the gas fee incurred is passed onto the buyer.
Choose an NFT marketplace
With all that done, it’s time to actually put your NFT out there and hopefully make some money. On most platforms, doing so is as simple as hitting a button that says “sell” on whatever NFT you have in your wallet. Each of these other blockchains has its own advantages and disadvantages over Ethereum. Usually—not always—their main advantage is that they’ll be cheaper to get into than their main competitor.
- After you choose your selling method and details, you’ll have the option to add unlockable content, which will be provided to the buyer.
- It’s perfectly possible for the price of the currency to swing by several hundreds of US dollars in just a few hours.
- Start by clicking the Create button in the top right of the screen on Rarible.
In Part 2 of this tutorial we’ll go through how we can use our smart contract to mint an NFT, and in Part 3 we’ll explain how to view your NFT on MetaMask. Some of these are open to everyone while others can only be used by invitation. There really is an NFT marketplace for everyone, so do some research and find the best one for you. This is the charge you need to pay on the Ethereum blockchain to perform a function, which includes the case of creating (minting) an NFT. Gas fees are measured in gwei, and they can go up and down depending on how heavy the use of the blockchain is. To maximise the chance that your NFT will sell, you should take some time to think about this.
Where do people sell their NFTs?
Nifty works with high profile artists and musicians like Grimes and Justin Roiland to release collections of limited edition NFTs. Nifty Gateway is one the only major NFT sites that accepts credit cards setting it apart from every other digital retailer in this list. Similar to SuperRare, the art on Nifty is typically pretty expensive and new artists will have to apply before they can post work on the site. The process of turning your work into an NFT is known as “minting” which refers to the act of creating a new token on the Blockchain that will forever be attached to that content. When an artist mints a new NFT, they attach a built-in commision (usually 10-30%) that they will receive any time that work is resold in the future. Flow is another PoS blockchain designed for NFTs and decentralized gaming apps, and it is host to the popular NBA Top Shot NFT collection.
There’s no singular technique for creating a piece of art that can be used as an NFT. If the file you create is supported by the marketplace where you’re listing the content, then it’s going to work as an NFT. Rarible is one of the most accessible sites for creators and collectors looking to get into NFTs. This was the first site I used when getting started, and the platform makes uploading your content and creating an NFT as simple as posting a YouTube video.
How to make and sell an NFT: frequent questions
The site provides live estimates of gas fees on all major NFT marketplaces and there’s currently no other tool like it. With disclaimers out of the way, let’s take a look at how you can create an NFT and bring it to market. The first step is to have or make something that can be turned into a non-fungible token. There are a lot of options here, from video game items to memes, but for the purpose of this guide we’ll assume we’re working with digital art. There should be enough currency in your wallet to cover NFT fees. Each NFT transaction on the Ethereum platform, for example, will incur a gas fee.
Keep in mind that fees might surprise people who are trying to buy your creations. So while you get to avoid minting fees, you might end up paying in terms of missed sales and portfolio opportunities. Non-fungible tokens can be created directly on NFT platforms, allowing you to mint (the process of creating or producing something) and upload your artwork on a blockchain. This guide will detail the steps needed to create your first NFT, including how to upload your artwork, choose the right blockchain, and where to list it for sale. NFTs require the creation of digital tokens, through a technique called cryptography.
You’re left having to take the risk and wait and see how much you get charged overall if you make a sale, and to hope that you still come out with a profit. If you do fancy taking a punt and throwing some money into making NFT art, though, we wish you the best of luck. We’d love to hear about how you get on via Twitter at @creativebloq or Instagram at @creativebloqofficial.
While many platforms allow you to pass fees onto the purchaser, it’s important to be cognizant of them. Many artists have been attracted to learn how to make and sell NFTs by the high-profile sales by artists such as Beeple, who famously sold his The First 5000 Days NFT for $69 million. Such eyewatering numbers represent a very small minority of NFT sales. Most NFT art sells for the kinds of prices you would expect other good art to sell for.
You can own a social media handle that you can sell or swap, but can’t be arbitrarily taken away from you by a platform provider. While you can rely on the natural hype of the NFT marketplaces to generate interest around your work, there are more strategic ways to gain attention and sell your art online. One popular method, for example, is to create a digital art portfolio for showcasing your work. Once you click that “create” button, the digital art world is your oyster. From there, you’ll choose the blockchain currency you want to use to mint your NFT and decide if you want to create a single or how to earn bitcoin multiple copies.
Despite what you might have heard, don’t expect collectors to swarm in and invest in your NFTs for the future. Although the market’s numbers are impressive, it is still volatile and immature. This makes it hard to rely on trading NFTs for profit, and has many collectors increasingly wary of their own investments.
If you choose to complete the process, know that gas fees fluctuate depending on the market. Lazy minting, however, stores your work in the marketplace and hands the gas fee over to the purchaser. Though there’s no shortage of crypto wallets out there, most NFT creators use the MetaMask browser extension wallet. This wallet is easy to set up and connects to most blockchains used to create and trade NFTs, including Ethereum and Binance Smart Chain. SuperRare prides itself on being the NFT marketplace for digital artists.