Have you heard of NFTs? Or have you ever wondered “ How do I create an NFT?” Do you want to join the NFT bandwagon? In that case, the first step is to create your own NFT. Whether you want to trade NFT or simply own an NFT, find out how to create an NFT in just a few clicks.
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What is an NFT?
For example, the painting of the Mona Lisa in the Louvre is unique and there is no other copy anywhere else, right? That is exactly how it is for your NFT. This authenticity and uniqueness come from the fact that the NFT is stored on a blockchain in the form of a token.
The token associated with an NFT has a unique identifier. As a result, it is not possible for any other person to own the exact duplicate of this token (and therefore of your NFT). With this definition, you have to understand that the main technical characteristic of the NFT is its token, not its content. What does that mean? If we take the example of the painting of the Mona Lisa, its authenticity comes from its brush strokes.
An art expert is able to establish that the painting in the Louvre is an authentic one, painted by Leonardo da Vinci by considering certain elements such as its brush strokes. In the case of NFTs, what makes it authentic is the digital identifier of its token. The content itself is not enough to guarantee its authenticity because nothing resembles an image more than its own digital copy.
As we have established, each NFT is associated with a token. This token is stored on a blockchain. But which blockchain are we talking about? In reality, not all blockchains accept NFTs. To create an NFT, you must use a blockchain that has been designed for the development of decentralized applications (Dapps) and the execution of smart contracts.
The creation of an NFT is referred to as “minting”. Minting can be considered as the act of issuing or storage of an NFT on a given blockchain. We “mint” an NFT like a crypto miner mines a Bitcoin. However, mining NFTs involves the execution of a computer program (known as a smart contract).
The computer language used in minting the NFT depends on the blockchain. Blockchains that are compatible with Dapps have a virtual machine that allows these computer programs to be coded and executed. In this aspect, Ethereum is the undisputed leader with its Ethereum Virtual Machine (EVM)
The Ethereum blockchain is also the home to most of the NFT marketplaces. There have however been a number of new blockchains in this category due to the development of the sector.
The Different Blockchains to Create an NFT
As we have established, each NFT is associated with a token. This token is stored on a blockchain. But which blockchain are we talking about? In reality, not all blockchains accept NFTs. To create an NFT, you must use a blockchain that has been designed for the development of decentralized applications (Dapps) and the execution of smart contracts.
The creation of an NFT is referred to as “minting”. Minting can be considered as the act of issuing or storage of an NFT on a given blockchain. We “mint” an NFT like a crypto miner mines a Bitcoin. However, mining NFTs involves the execution of a computer (known as a smart contract)
The computer language used in minting the NFT depends on the blockchain. Blockchains that are compatible with Dapps have a virtual machine that allows these computer programs to be coded and executed. In this aspect, Ethereum is the undisputed leader with its Ethereum Virtual Machine (EVM)
The Ethereum blockchain is also the home to most of the NFT marketplaces. There have however been a number of new blockchains in this category due to the development of the sector.
Blockchains like Cardano, BSC, and Solana are other blockchains that can also execute smart contracts. According to data from cryptoslam.io, as of October 2023, the top blockchains used for NFT trading are as follows (in terms of sales volume over the last 30 days):
- Ethereum
- Mythos
- Solana
- Polygon
- ImmutableX
- Bitcoin
- BNB
- Cardano
- Flow
- Ronin
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How do I Create an NFT?
Now that you know a little more about NFTs, let’s delve right into how to create NFT. There are two methods for this: the first method is simple and the most commonly used, while the second method requires advanced programming concepts and is therefore not for everyone.
The easiest way to create an NFT is through an NFT exchange platform. This way is easy in the sense that it typically involves “clicking the button”.
However, it is important to point out that you are still required to have some level of knowledge about blockchain, crypto, and wallets. In simple terms, these are the 6 main steps to creating an NFT on a marketplace:
- Choose the object you want to convert into an NFT
- Select the blockchain on which you wish to store your NFT
- Configure your crypto wallet
- Choose your NFT platform
- Upload your NFT
- Put your NFT on sale.
The Classic Way: Go through an NFT Marketplace
The easiest way to create an NFT is through an NFT exchange platform. This way is easy in the sense that it typically involves “clicking the button”.
However, it is important to point out that you are still required to have some level of knowledge about blockchain, crypto, and wallets. In simple terms, these are the 6 main steps to creating an NFT on a marketplace:
- Choose the object you want to convert into an NFT
- Select the blockchain on which you wish to store your NFT
- Configure your crypto wallet
- Choose your NFT platform
- Upload your NFT
- Put your NFT on sale.
Step 1: Choose your NFT
As explained in our article on NFTs, an NFT is not necessarily an image. Video, domain name, image, GIF, meme… You wide a wide range of options to choose from! Plus, if you work in the art industry, the idea is perfect! Why not draw whatever you like and turn it into an NFT?
Step 2: Choose the blockchain to store your NFT
Before going any further, you need to ask yourself the question of what blockchain to choose for your NFTs. As explained above, multiple blockchains can be used for NFTs. However, the choice of blockchain will ultimately impact the future value and sale of your NFT.
How is the case? Well, selecting and using a blockchain that is not best suited for NFTs may result in the difficulty of finding compatible marketplaces. This ultimately reduces the audience that is potentially interested in your NFT.
Your choice of blockchain also affects the fees you will have to pay to create your NFT and sell it. Recall that the main blockchain in the NFT space is Ethereum.
Step 3: Create a crypto wallet
In case you have forgotten, a wallet allows you to store your cryptos. In crypto, the wallet plays the role of a bank account. Since your NFT is identified using a crypto token, you have to create a wallet to store this token.
There are two types of wallets that are available for you to pick from: Hot wallet and Cold wallet. Hot wallets store your tokens (and cryptos) online. They are easy to use and are compatible with most NFT marketplaces. Cold wallets, on the other hand, are more secure because they store your cryptos offline. We recommend that you think into the future when it comes to your NFTs.
How? It is important to choose a wallet that has higher compatibility with multiple NFT marketplaces and blockchains. In this regard, the most commonly used crypto wallet for NFTs is MetaMask. This wallet is compatible with the Ethereum blockchain.
To create a wallet, all you need to do is create an account by providing some information. In general, most wallets operate on the basis of a code and a password (which is used in case you forget the code). This password is often a list of words (12 or 24). Be careful not to misplace this list. Otherwise, you risk losing the ability to connect to your wallet and access to your funds.
Step 4: Choose an NFT trading platform
The next step is to choose your preferred NFT marketplace. With the explosive growth of the NFT market, there are now multiple NFT platforms to choose from. To aid your decision on the platform to use, we recommend you consider the following criteria:
- Security
- Reputation
- Transaction cost
- Popularity
- User-friendly interface
- Compatibility with the blockchain(s).
Currently, the two most popular marketplaces are OpenSea and Rarible.
Step 5: Upload your NFT (or minting)
The process of storing your NFT on the blockchain is called “minting”. This English term can be translated as “to strike” in French. In a way, this consists of writing your NFT in stone (ie the blockchain).
Behind this seemingly complex term is something very simple! Mining basically boils down to selecting your NFT and then clicking on the “upload” button available on the platform. Before you complete this process, remember to confirm the terms and conditions of the platform, particularly regarding the size and format of the digital file.
In addition to uploading the NFT, you will have to provide some information such as the price, as well as a short description.
Step 6: Sell your NFT
This step is the simplest! All you need to do is specify the type of sale you would prefer: fixed price or auction.
The Technical Way: Computer programming
This method is reserved particularly for people who have computer knowledge. It is the same as the previous method, except that in this method, everything involves lines of code!
Some blockchains like Solana use more traditional computer languages like Java. Other blockchains use more complicated languages and the Ethereum blockchain, for instance, involves a totally different language called Solidity, which you would have to learn in order to create an NFT.
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How much does it Cost to Create an NFT?
What is the cost of minting an NFT? The average cost of creating NFT is typically from $0.05 to over $150, depending on various factors such as the cost of blockchain, gas fee, marketplace fee, and listing fee.
How to Create NFT for free?
If you wish to create NFT for free, you need to select a platform that allows lazy minting. Some platforms like OpenSea allow you to create an NFT without any gas fee in advance (gasless minting). The NFT is minted when it is sold for the first time, and the person buying it has to pay the fee for processing the transaction.
NFT, an ERC token
ERC is an English acronym that stands for “Ethereum Request for Comment”. Each ERC indicates a certain category of tokens. For example, you have probably already heard of ERC-20 tokens, which is the technical standard for fungible tokens.
TERC tokens are tokens that are used for the operation of a platform or as a means of payment. For example, the UNI token is the native token of the decentralized exchange platform, Uniswap. BNB, USDT, or even BAT tokens are other examples of ERC-20 tokens.
Well, for NFT tokens, the standard used on Ethereum is ERC-721. Like the ERC-20, this type of token allows for the coding of a smart contract. So what then is the difference between an ERC-20 and an ERC-721 token? Without going into too much detail, the main difference is the information encoded within the token.
An ERC-721 token contains information that describes the NFT; this is called “metadata”. Consequentially, for most NFTs, the graphic content (image, video, etc.) is not recorded directly on the blockchain because that would be too expensive.
Also, the token simply contains the information that allows the NFT to be precisely described. For example, this is the case for collections like the Bored Ape NFT collection. On the other hand, this is not the case for the CryptoPunks NFT collection which features lightweight graphics and are directly stored on the blockchain.
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The Metadata of ERC-721 NFT tokens
To create an NFT, developers must therefore enter the following metadata in code form:
- The name of the NFT
- The symbol of the NFT
- A unique identifier
- The number of existing NFTs
- The name of the creator of the NFT
- A description of the NFT
- An image in the form of a link that allows you to display a graphical representation of the NFT.
The Best Marketplaces to Sell your NFT
After learning how to create an NFT, you now need to be able to sell it. The most popular and largest marketplace in the world for NFT trading remains OpenSea.
One main feature of this platform is its unique visibility which guarantees users the greatest possible chance of selling their NFTs. The marketplace is also quite user-friendly, which makes it easy for even beginners to use. Once you are done creating an NFT, you can sell it on OpenSea where transactions are secure and verifiable using blockchain technology.
Aside from OpenSea, other interesting options exist for beginners looking to sell their first non-fungible tokens. One of them is Rarible, an emerging marketplace that makes a point of promoting artistic freedom to create NFTs. There is also Nifty Gateway, a platform known for its partnerships with renowned creators. This makes it a place where you can find passionate users ready to purchase your first NFT. Alternatives like Foundation and SuperRare are also available in the NFT ecosystem.
The largest exchange in the world, Binance, also has a very active NFT platform.
