Many artists and designers are considering how to make and sell NFTs as a new source of income. NFTs, on the other hand, can be used for more than just selling art; they can also be used to protect digital assets, get access to new communities, and even track the ownership of actual things. Check out AIO Metaverse, Malaysia’s NFT marketing agency, if you’re interested in making your own NFTs and need NFT software development.
Choose your item
Let’s start from the beginning. If you haven’t already, you’ll need to decide out what unique digital item you want to turn into an NFT. A commissioned painting, image, music, collectible video game, meme, GIF, or even a tweet could be the medium. A one-of-a-kind digital item, an NFT has only one owner. The rarity determines the NFT value.
Before you start, double-check that you own the intellectual property rights to the thing you want to turn into an NFT. If you make an NFT for a digital asset you don’t own, you risk getting into legal trouble.
Decide on a blockchain.
You can begin the process of minting your one-of-a-kind digital asset into an NFT once you’ve chosen it. The first step is to choose which blockchain technology your NFT will use. Among NFT artists and creators, Ethereum is the most popular. Alternatives include Tezos, Polkadot, Cosmos, and Binance Smart Chain.
Get a digital wallet
If you don’t already have one, you’ll need one to start an NFT because you’ll need cryptocurrencies to fund your initial investment. The wallet will provide you access to all of your digital assets. Among the most popular NFT wallets are Metamask, Math Wallet, AlphaWallet, Trust Wallet, and Coinbase Wallet.
After you’ve set up your digital wallet, you’ll want to acquire some cryptocurrencies. The Ethereum blockchain platform’s token, Ether, is accepted by the majority of NFT sites. If you already have cryptocurrency, you’ll need to attach it to your digital wallet in order to produce and trade NFTs.
Pick a marketplace
You’ll need to choose a marketplace where you’ll construct and then list your NFT when you’ve put everything in place. The most popular are Mintable, Rarible, and OpenSea. The last choice is the one I recommend because it is free to join and there is no content moderation. To sell on the marketplace, you do not need to be a verified artist. This, however, means that the market is overflowing with digital baubles that no one will ever buy.
Upload your file
You’ve finally reached the point where you can start minting NFTs. There should be a step-by-step guide for uploading your digital file to your favourite NFT marketplace. Using this procedure, you’ll be able to convert your digital file (a PNG, GIF, MP3, or other file format) into a marketable NFT.
The final step in the NFT minting process is to decide how to monetise your NFT. Depending on the platform, you can perform the following:
- Sell it for a fixed price: If you establish a fixed price for your NFT, you’ll be able to sell it to the first person who is willing to pay it.
- Organize a timed auction: Individuals interested in your NFT will be able to submit their final bid within a specified length of time if you have a timed auction.
- Begin an auction with no reserve price: An unrestricted auction does not have a time limit. You, on the other hand, have complete influence over the auction’s conclusion.