NFT is the short form for non-fungible tokens. It is one of the cryptocurrency assets that is recently booming in the market. Many celebrities are creating NFTs due to the large sum of money involved in it. It is difficult to not make and sell an NFT when many creators have made millions from the NFT. So, here is a guide that will help you to know how to make an NFT.
What is an NFT and How to Make it?
NFT is a token given by the owner of the product to the person who wants to buy that particular product. That product can be anything like a painting, music, picture, or tweet. The owner of that NFT can transfer the ownership to anyone who wishes to buy it. The NFT market grew rapidly after 2020. So, how can one make an NFT? Follow the steps below to know more about it:
Select a Product
The first and most basic step is to have a product that you want to turn into an NFT. An important rule of turning your product into an NFT is to have individual ownership of that product. Always choose a product that is completely owned by you. If you try to create an asset that you don’t own into an NFT, be ready to face legal action.
Select a Blockchain
After you select a product/asset that you want to turn into an NFT, choose blockchain technology. A blockchain is a technology that is not in the control of the government or company. It is a ledger that stores all the transaction that happens. Once you take ownership of your asset, no one can edit that or change the ownership. You can also create a clause where you can gain royalties if your assets are being sold again. Ethereum is one of the famous blockchains that you can use.
Make Your Digital Wallet
After selecting the blockchain, you need to set up your digital wallet. A digital wallet is important since you need cryptocurrency for the funding of your first investment. The wallet is used to store the cryptocurrencies that you own. Metamask is one of the top NFT wallets that is used. You need to have currencies in your wallet. The currency Ether is widely used since it is the cryptocurrency of the Ethereum blockchain platform.
Choose an NFT Marketplace
You need to have a marketplace to create and sell your NFTs. OpenSea, Axie Marketplace, and NBA Top Shot Marketplace are some of the top marketplaces that you can use. Each marketplace has its genre of assets that can be sold. You need to learn about every marketplace and choose the one which suits your asset. OpenSea is a good marketplace for beginners. Once you choose a marketplace, link your wallet to it to start.
Transfer the asset
Now, you can transfer or upload your assets to the marketplace. You will be given a guide to turning your digital file into an NFT asset.
Make your sales
The last step is to set your sales process. You need to decide how you want your price to be set. You can sell your assets at a fixed price where you can allow the person who is ready to meet your price. There is also an option to set a time limit for the buyers who are interested in your asset. You can also set an unlimited time where you can end the auction when you want to.
Thus, this was the guide to help you know how to make an NFT. If you want to know about Apple Wallet, here is the guide that will help you. iOS 15.4: How to Add COVID Pass to Apple Wallet on iPhone and How to Use Apple Pay on iPad?
