Can AI create art now? That’s what most people think when they hear “NFT”. However, there is a lot more than just art when it comes to NFTs. This blockchain-based art world is taking the world by storm with everyone including Gary Vee getting involved in NFTs.

So what is an NFT? And how do you create an NFT?

What is an NFT?

An NFT is a digital asset that represents real objects such as art, music, and videos. These digital assets can be bought and sold online using cryptocurrency. They generally have the same underlying software as many cryptos.

NFTs have been around since 2014, but they are becoming increasingly popular for selling and buying digital artwork. A staggering $ 174 million has been invested in NFTs since November 2017.

In addition, NFTs are usually unique, or in a very limited number of copies, and come with unique identification codes. Arry Yu, chairman of the Washington Technology Industry Association’s Cascadia Blockchain Council and managing director at Yellow Umbrella Ventures, says NFTs are fundamentally a source of digital scarcity.

This is in stark contrast to digital creations, which are almost always in short supply. If an asset is in high demand, discontinuing its supply would hypothetically increase its value.

However, many NFTs were digital creations that existed elsewhere in some form, such as iconic clips from NBA games and securitized digital art floating around on Instagram.

At Christie’s, Mike Winklemann, a digital artist best known as Beeple, compiled 5,000 daily sketches to create “Everydays”: the first 5,000 days, which Christie’s sold for a record-breaking $ 69.3 million.

You can view individual images or the entire collage online for free. Why would anyone spend millions viewing something that they could easily download or take screenshots?

An NFT is a way for the buyer to purchase the original item. It also includes built-in authentication that acts as proof of ownership. These “digital boasting” are more valued by collectors than the actual items.

5 ideas for creating an NFT

Select your article.

First, select the artwork. Any digital file can be represented by non-fungible tokens. An NFT can be created from any digital file, including a painting, text, or a piece of music. You can reproduce anything as a multimedia file. The NFT game is about making digital works of art “unique” in an age of infinite reproduction.

Have some ether ready.

Now that you’ve chosen your digital asset, it’s time to start earning Ether.

There are many blockchains that you can use to create NFTs. But for the sake of simplicity, we’ll assume you’re using Ethereum. It is the most widely used and well known NFT marketplace.

Minting an NFT could be expensive. You will therefore need an Ethereum wallet that contains some ether (the Ethereum-based cryptocurrency). The simplest is “MetaMask”. It is available as a free download on your Android or iPhone smartphone. It is very volatile in terms of the price it takes to create the NFT. You should have at least $ 100 in ether. However, the daily operating price may mean that the coinage may cost you more.

OpenSea allows you to mint your NFT for free. However, you still need to connect a wallet to create an account.

Select a market.

Once you have everything in order, it is time to choose a marketplace where you can physically (virtually) sell your NFT. Build and list your NFT.

Mintable, Rarible, and OpenSea are the most popular. For this guide, we’ll choose the last one. It’s free to sign up and there is no limit to what content you can list. This means that you as an artist do not have to be approved in order to sell on the platform. It also means that the marketplace is filled with digital trifles that no one will ever buy.

OpenSea: Click on the user symbol and then on “My Profile”. On this page you can choose how you want to link your ETH wallet. Users can connect to the platform by clicking WalletConnect and selecting “Use another wallet”. It’s very easy. Follow the instructions to confirm the Wallet Connect process with your MetaMask app.

Do the NFT.

After you have connected your ETH wallet and OpenSea, you can create your first NFT. To create a collection, click the “Create” button in the top menu. Fill out all fields and save. You can now begin the actual embossing of your new NFT. Click New Item to load your artwork and fill in all of the details. Click Create when you’re ready to pull the shutter.

Congratulations! You have successfully created a token. OpenSea allows you to sell the token. You can choose which Ethereum tokens you accept as a means of payment. Here you can also choose whether you want to sell in an auction or at a fixed price. The sales page is also where you can decide how many royalties you want to receive for each sale.

Earn

You have successfully listed your NFT on the OpenSea Marketplace. What now? You won’t get anywhere if you wait for someone to notice your token. The property must be advertised by you or an existing group of people who are interested in it. This is the hardest part of the creative process. It is just as rigorous and selective as the current art world. Unless you’re a meme character or some other internet phenomenon, congratulations! You’ve probably found a way to make people laugh at your embarrassing photo.

How do I create an NFT? first appeared on Coin Insider.

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