Non-fungible tokens (NFTs) have been hitting mainstream media headlines since early 2021. As such, the desire for ownership and knowledge on how to create an NFT is becoming increasingly commonplace. Fortunately, with the rise in demand for NFTs, projects have been focusing on the development of NFT minting services appealing to the mass population instead of a niche developer market.
In this article, we are going to explore how to create an NFT in three simple steps, even if you’re not a programmer! Plus, we’ll look at various things to take into account for creators hoping to release a collection of NFTs. Also, we will consider the cost of releasing an NFT. Firstly, however, we’ll discuss a few reasons as to why one should learn how to create an NFT.
For a deep dive on how the underlying technology of non-fungible tokens (NFTs) operates, see our Blockchain & Bitcoin Fundamentals course. Here, we explore the history, utility, and operational functions, block by block, of this cutting-edge technology. Join the world-leading online Web3 development education suite today at Moralis Academy!
Why Create an NFT?
So, why is it a good idea to learn how to create an NFT? Well, there are many reasons! As one of the hottest crypto trends, learning how to create an NFT version of artwork puts creators and artists at an advantage. The technology isn’t going away, and, while NFT artwork doesn’t necessarily appeal to all demographics, there is a consensus among different communities that NFTs are evolving the art industry.
Furthermore, non-fungible tokens (NFTs) offer utility to a range of other industries. On a fundamental level, NFTs represent unique pieces of data, publicly on the blockchain. In turn, this could apply to the fashion industry, blockchain gaming, supply chain management, or the energy sector. Knowing how to create an NFT and understanding its potential utilities will substantially enhance any CV showing hard skills in a cutting-edge, highly in-demand industry. Learning how to create an NFT could be a doorway into an exciting new career!
Finally, another reason to learn how to create an NFT is because it’s easy! Moreover, there are different platforms available to help get you on your way! When the “worldwide web” became largely available, creating a website required specialized knowledge, employing expensive expertise. However, 30 years on, anyone with internet access can use pre-set front-end templates to drag-and-drop a unique website design for free. Until recently, a fundamental understanding of NFTs was held only by a small group of developers and crypto enthusiasts. With an exponential rate in technological developments, NFTs have gone from being unheard of, to developer-specific knowledge, to mass-scale user-friendly minting services and availability.
Before You Get Started
Before you start to learn how to create an NFT, there are a few things to bear in mind. Firstly, one must consider the blockchain(s) in use. The largest smart contract-compatible blockchain, Ethereum, hosts the largest number of NFT and decentralized finance (DeFi) applications and assets. Therefore, using the Ethereum blockchain would appeal to the largest market of crypto users. However, the transaction fees or “gas” costs occasionally outprice the smaller everyday traders.
As a result, more NFT platforms have emerged on alternative blockchains. Some blockchains focus on increased transaction speed and lower operational costs. Others focus on interoperability with other chains throughout the industry or NFT-specific infrastructure. When creating an NFT, it is ideal to be mindful of the capabilities and limitations of the blockchain it is being deployed on.
The second consideration is having a projects’ native asset to pay for the NFT minting fees alongside storage of the NFTs. For this, users will need a compatible Web3 wallet prior to interacting with NFT applications. A Web3 wallet allows users to store and access cryptocurrencies and non-fungible assets that seamlessly interact with Web3 applications. The most popular Web3 wallet with more than one million monthly active users (MAU) is MetaMask. Available as a mobile download or as a browser extension, MetaMask offers frictionless compatibility across multiple blockchains and networks.
For an expert-led video-guided tutorial on installing and interacting with MetaMask, see our Master DeFi in 2022 course at Moralis Academy! Also, for readers familiar with the Solana ecosystem, save our “What is Phantom Wallet?” article for later to discover Solana’s leading Web3 wallet!
How to Create an NFT
Non-fungible tokens offer many different utilities. However, the most popular types for creators currently take shape in the form of artwork, collectibles, and music. Therefore we discuss how to create an NFT on the leading NFT platform, OpenSea, catering to creators intending on releasing any of the aforementioned NFT assets.
OpenSea is the largest non-fungible token (NFT) marketplace running on the Ethereum blockchain. Branding itself as “the eBay of NFTs”, the platform hosts thousands of small NFT marketplaces for users to browse millions of NFT assets. This includes artwork, domain names, music, virtual land, and more. Any NFT created on OpenSea is interoperable throughout the Ethereum ecosystem.
To create an NFT on OpeaSea is easy. To do so, head to the OpenSea website and select [Create] on the top right-hand corner. A prompt will appear to connect to the site with an Ethereum wallet. Users can choose from MetaMask, Coinbase Wallet, WalletConnect, or Fortmatic. After selecting the desired wallet, users will need to sign a confirmation transaction to allow the wallet to interact with the OpenSea application. This will be of no gas cost to users. Now, creators are ready to upload, strategize, and mint their NFT collection!
The “Create New Item” page will first prompt users to upload the NFT image, video, audio, or 3D model. Compatible file types include: JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF with a max size of 100 MB. Next, creators will need to give a name to their asset, description, and optional external link to a creator’s website for further information. After this, creators will need to create the name of a new collection (or select the relevant collection if they have already done this).
At this point, creators can define characteristics of their assets that will appear displayed underneath the listing of the item. This includes customizable properties (i.e., character type or gender), level (i.e., numerical traits displaying as a progress bar – “Speed: 3/5”), and any statistics relevant to the asset. Moreover, creators can include any exclusive, unlockable content alongside stating whether the NFT is of explicit or sensitive content. Selecting this means users using the Safe Search browsing option on OpenSea are protected. This includes pornography and any not safe for work (NSFW) content.
Now, creators can determine the supply of the NFTs. This will be cryptographically encoded into the NFT metadata, publicly verifiable and immutable on the blockchain. Next, creators will choose which blockchain to deploy them on (Ethereum or its leading layer-2 network, Polygon). Using OpenSea’s “lazy minting” option on Polygon means creators won’t pay any upfront gas costs. Creators will only need to pay the gas fee upon the sale of an asset. Finally, creators have the option of “freezing” the metadata. This will ensure all NFT assets are securely locked and stored in decentralized file storage. Then, click [Create]!
This will take you to a landing page displaying your NFT, with the options to “view” or “sell” your asset. By clicking [Sell] the site will direct users to another preview confirmation page where, if happy, creators will select [Sell] in the top right-hand corner. Now, creators can choose the sell method, from using a set price, auction style, or batch-selling with other assets. In the summary section, creators will see a breakdown of platform fees (2.5%) and any affiliate bounty cuts for referred buyers (customizable).
For new creators who have never sold on the platform before, they will need to initialize their account with two free transactions. However, the transactions will incur gas costs as a one-time fee for initialization. This cost can vary dramatically depending on network activity. By selecting [Post Your Listing], this will prompt a signature transaction from your connected wallet. For first-time users, this is when you will need to pay the one-off gas costs. Select [Confirm] when you are happy with the costs. This will then prompt another transaction to sign (with no gas cost) to confirm the listing of the asset. Click [Sign] to confirm.
Congratulations! If you have followed this guide correctly, you will have just minted your first NFT! The landing page will display a green tick next to the confirmation saying “Listing Successful”. Here, OpenSea offers creators the choice to enter their email address and a nickname for the platform to contact them upon confirmation of a sale. After, OpenSea takes creators to their NFT asset homepage. Creators can view their assets, listing details, number of page views, chain information, price history, and any offers made. For those specificlly interested in creating NFT art can visit this
Things To Consider When Creating an NFT
Now you know the basics of how to create an NFT, there are a few things to consider next. Firstly, how are you going to spread the word about your new NFT collection? While Facebook and Instagram are two of the largest social platforms, the majority of the NFT and crypto market are using platforms such as Twitter, Discord, Slack, and Telegram. Understanding where your target audience is online, and the demographic behavior will help put your NFT collection in front of their eyes.
Whether you’re releasing artwork, collectibles, a music track, memorabilia, or an in-game asset, networking and interacting with communities online will help sell your assets. Be sure to be interactive and friendly across multiple different communication channels for the best outreach. Furthermore, sponsored posts and advertising in the right spaces could aid in attracting an audience for the initial launch. Creators could include community incentives and giveaways to help grow awareness of their brand and NFT assets.
How Much Does It Cost to Create an NFT?
A key consideration to selling profitable non-fungible assets is the cost to create them. Further, other expenditures such as platform fees, seller fees, gas fees, sponsored advertising, or any marketing costs should ideally be included in the calculations.
Some applications will require non-fungible token creators to pay the gas fee upfront when minting the NFT. On the other hand, some platforms only require creators to pay the gas for minting upon an NFT being sold. Most platforms operate by including a seller fee percentage. This will vary between platforms. However, thanks to the transparency of blockchain, it is easy to view the movement of seller fees. Depending upon a platform’s protocol, funds from fees may be burned, used as rewards for network validators, or reinvested into the platform development. Some creators may be mindful and choose a platform specifically due to its tokenomic structure.
When selling your non-fungible assets, consider the cost of selling NFTs as individual assets or in batch collections. Depending upon the platform, this may alter the cost to the creator. Moreover, if creators choose to mint and sell NFTs during high market activity, the overall fees may be greater due to increasing gas costs.
Exploring How to Create an NFT Summary
Understanding how to create an NFT puts many artists at an advantage, being able to sell work using cutting-edge technology. Moreover, knowledge and insight into non-fungible assets and how to create them offers a competitive edge in the job industry. Hopefully, by following this article, our readers will understand the premise of how to create an NFT on OpenSea, the largest NFT marketplace. However, the process is a similar experience to creating NFTs on the WAX Blockchain with its tailored NFT Creator service. Also, platforms such as Opulous – offering music-specific NFTs – and Enjin, allowing users to create cross-platform gaming assets, follow a similar process for releasing NFTs on their platforms.
For readers who would like to explore the NFT world some more, check out our “Most Expensive NFTs Sold” article next! Or, to expand your knowledge around crypto mining some more, see our “Bitcoin Mining Companies” article! Alternatively, why not see our “Top Crypto YouTube Channels” article for insights on the best crypto YouTubers to enhance your blockchain learning! Moralis Academy is the number one education suite for Web3 development and blockchain education with over 30,000 students! Kickstart your blockchain career today with our Blockchain Business Masterclass, suitable for non-programmers. Start today!