NFTs and How To Create Them
NFTs are Non-Fungible Tokens that are stored on a blockchain with a unique identification code that makes it distinguished from other tokens. They are not identical and can’t be traded for another equivalent. They can be used to represent anything both tangible or intangible items. These items could be, Music, Artwork, games, virtual currencies , collectibles and so on.
Their outrageous prices is due to their scarcity and uniqueness.
If you will like to create your own NFT there are obviously some steps you need to take. It’s a direct understandable straightforward step where you don’t need extensive knowledge for.
Before you start, you will have to decide on what blockchain to use since they are created and stored on blockchain. The most used leading blockchain currently is Ethereum. But there are other option blockchains such as Binance Smart Chain ,Flow by Dapper Labs, Tron ,EOS, Polkadot , Tezos ,Cosmos and WAX.
They all have their own individual NFT token standard, wallet services they are uniquely compatible with and marketplace. The market place refers to the environment where it’s been sold. This environment it’s been sold is unique to the blockchain, that is you only sell NFTs created on the Binance Smart Chain on platforms that supports Binance Smartchain assets.
But we will be focusing on Ethereum because it’s the most used blockchain for NFTs. Below is what you will need to mint your own NFT on the etherium blockchain
- You need an ethereum wallet that supports ERC-721. This wallet could be Metamask wallet, coinbase or trust wallet. Note : ERC-721 is the ethereum based NFTtoken standard
- You need roughly $50-100 worth of Ethereum.
After you have the above requirement, just know that those were just the baby steps needed in creating your own NFT.
The next thing you need is a platform that enables you connect your wallet and also allow you upload files that contain contents you want to convert to NFT. These are NFT-centric platforms. Some of these platforms are Opensea, Rarible and Mintable.
I will show you how to use the OpenSea platform.
Most importantly, enter the site opensea.io Then click on create.
It actually cost nothing making an NFT on opensea but fees are charged by some platforms. You are being charged Ethereum gas fee on Ethereum-based platforms.
Posted Using LeoFinance Beta