How to create an NFT for sale on OpenSea or Rarible
The idea of creating and selling tokens looks very promising. Turning digital files into blockchain-based assets does not require programming skills. Innovative technology from the blockchain world allows you to access online auctions with thousands of users. To understand how to create an NFT, just follow our simple instructions.
What is NFT
NFT is a unique token, the authenticity of which is proven through the blockchain. It cannot be substituted or exchanged for another similar token, although tokens are generally fungible. Blockchain allows you to move tokens between different ecosystems, but within the blockchain, you can buy and sell tokens freely, privately and for crypto.
NFT gained notoriety not so long ago. This was due to the successful sale of the non-fungible token. Even global stars and well-known brands are buying NFTs. How to create a token yourself? Let’s figure it out.
Visual instructions for creating an NFT
Creating an NFT is a simple process, just follow a few simple steps. Even a beginner can handle it.
Creating an account on a cryptocurrency exchange
You need an account as you must purchase Ethereum in order to pay for the creation of the NFT. If you want to sell it later, you can easily cash out your earnings, convert to another cryptocurrency, etc.
Buy Ethereum
Ethereum or ETH refers to the blockchain on which many NFTs are based. In addition, ETH is the name of the currency. Therefore, when you buy or sell NFTs, you will be using the popular Ethereum system. Ethereum is listed on almost all cryptocurrency exchanges, so you will not have problems with its acquisition.
Registration on the OpenSea platform
OpenSea is a major NFT marketplace that was founded in November 2017. This marketplace was created for the sale and purchase of digital art and other assets. To register on the platform, you just need to click on the profile icon and go to My Profile. Then click Sign In to log in through your MetaMask crypto wallet. In the wallet that opens, just enter the password and allow the binding.
Now you can be congratulated – you know what you need to do before creating your own NFT token. In many Internet applications and NFT markets, registration looks a little more complicated: in addition to linking a crypto wallet, you need to link an email, specify a new login and password. For example, Mintable users should do this.
Ethereum wallet preparation
The largest NFT marketplaces work with crypto wallets. There are several decentralized ETH wallets. However, the most popular is MetaMask, a special plugin that works best with Brave or Google Chrome. Here you can store Ethereum tokens.
Everyone can set up a cryptocurrency wallet, as it is easy to do. Just install MetaMask and follow the instructions. When the fox logo appears in the browser, click on it. It will help you install the browser plugin in a few simple steps. You should come up with a password, a Seed phrase (“secret for recovery"), as well as a long phrase consisting of 12 words, which will generate your crypto wallet. Write down all the information on a piece of paper and keep it in a safe place so that no one can access your cryptocurrency wallet. If you wish, you can purchase Ethereum directly on MetaMask, however, due to high commissions than on exchanges, you should not do this.
After buying ETH on a cryptocurrency exchange, as well as launching MetaMask, you should load some ETH into your wallet. To do this from your cryptocurrency exchange, just go to the "withdraw" page. You will need to provide the following details:
• your ETH address;
• the amount of ETH you wish to send.
When you set up MetaMask, it automatically generates an ETH address for you. It’s at the top of the MetaMask window, usually starting with "0x".
Creation of NFTs
To understand how to create your own NFT token, follow our instructions. Use the OpenSea Collection Manager. Click on Create, choosing My collections. Then take a look at the new page where you can create a collection, and absolutely free. You can also create tokens on other Internet sites and sell them on this marketplace. Come up with a name for your collection, make a description and a cover. OpenSea will offer to create the first NFT and thereby replenish the collection. Then you need to confirm its inclusion in the collection through MetaMask.
Now it’s up to you – just upload the content itself, add a title, a link to a site with a description of the NFT, and you can also use a number of additional options.
How to sell NFT
Step-by-step instruction
The OpenSea marketplace was first used to sell NFTs, only later did it become possible to create them. At the moment, the entire infrastructure for the implementation of your cryptart is ready to use. To figure out how to sell NFT, follow a few simple steps:
1 Go to your NFT, which is attached to the collection. Now it remains only to initialize it, that is, make it a "participant" in trading operations.
2 Click on the Sell option if you want to put the art object up for sale.
3 On the next page, select Sell again and take a look at the statistics, which are still empty.
4 Make a selection on the newly opened page. Here you have several options: "Highest bid" is an auction, "set price" is a regular sale, and "Bundle" if you want to sell several items in one lot. Specify the price, if necessary, change additional settings.
5 Now click on the Post Your Listing option, and then the account will be initialized. You should pay a gas fee of 0.045 ETH.
The minimum amount of 1 ETH is in the auction mode. So, for example, you can set the initial price to 0.1 ETH, and the price will not rise to 1 ETH, then the lot will not be sold.
To get started, choose a fixed cost and wager 0.1 ETH. You can set an ending price, that is, the cost will fall to this price until a buyer is found. You can make a private sale by specifying a crypto wallet, or put it up for sale in the future.
It is necessary to carry out two transactions once and pay for gas once. No more commissions are taken for further listing of NFTs for sale. You can sell other NFTs from your collection in a similar way.
Recommendations for Profitable Selling NFTs
If you nevertheless firmly decided to figure out how to make money on NFT and paying almost $96 is not a hindrance, then learn a few more nuances:
1 There is a moderation system on the trading floors – your art object will be carefully checked, and publication may take some time.
2 Other users can create copies and put up other people’s NFTs for sale by changing only one pixel.
3 Good NFT games in a good market does not guarantee a successful transaction. It is necessary to engage in its promotion, for example, on Twitter.
1 Don’t be afraid to price NFTs high. Works costing less than $200-250 will be more difficult to attract the attention of investors and collectors, and, accordingly, the question of how to buy your NFT is not worth it. Especially when it comes to NFTs on Ethereum, where because of the huge commissions, no one wants to buy cheap NFTs. If you don’t value your work, no one will.
2 Your NFT must have a fresh idea. Try to convey the meaning of the work to the audience, pay attention to the description of the NFT. Do not imitate successful authors. Be sure to tell about your NFT games, art, etc. on social networks, which should be promoted regularly.
3 You should not create NFTs in large numbers. They will become more attractive in the eyes of serious investors and collectors if they are made in a single copy. 9-10 copies are enough, but if there are thousands of them, this is bad, you should not do this.
4 Take your creativity seriously. It should become a part of your life. If you work regularly, sooner or later it will bear fruit.
We hope you understand how to make money on NFT to get a good income.
Selling NTF through Rarible
For those who do not want to take the risk and spend $96, but still want to create their own token, the Rarible platform can be an alternative. Creating a profile does not take long and is identical to OpenSea. But the procedure for creating NTF is noticeably different. Here you have to choose between creating a token represented as a Multiple and a token tied to the original Single. Let’s choose the last option.
Then again, you should make a choice – between creating an art object in the Rarible format and the ERC-721 standard. In the first case, there is one interesting nuance – the royalty system. When reselling art objects, the buyer pays the creator a percentage. However, it is necessary to make a description and download the token. Then click on the Create Item option and pay again to Ethereum. Payment here is charged for each NTF put up for sale (0.005 ETH).
Is it possible to create NFTs for free?
Creating art, regardless of the blockchain ecosystem, involves the introduction of certain funds. The difference is only in the amount. Compared to competitors, Ethereum has the highest fees, and the developers have not yet resolved this issue. However, most NFT markets were created on the basis of Ethereum and do not plan to change the platform.
You can choose an alternative option – to become a participant in charity events that are aimed at supporting digital artists. However, this program is intended only for citizens of India. As a result: the promise to give users back control over their money is not fulfilled.
Summing up
The growing popularity of NTF tokens gradually leads to the simplification of their creation. We figured out how to create and earn on NFT. No special knowledge is required for this. It is much more difficult to turn digital files into good assets, to make cool content that will be really interesting to people.