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Our mission aligns passion as much as responsibility. Take a look at what we stand forAre you interested in creating your own NFT? Perhaps you’re a digital artist looking to make more money from your work, or even a traditional artist wanting to branch out.
You might be an NFT aficionado who’s been collecting NFTs for months or years. Maybe you’ve got a great idea for an NFT collection that you think could become hugely valuable.
Or you might be quite new to NFTs, and interested in experimenting with creating your own. You may simply be curious about how NFTs are created.
We’ll run through everything you need to know about the process of creating, or “minting,” an NFT.
You make NFTs through a process called “minting”, which is the same terminology used for cryptocurrency coins. It is commonly done through an NFT marketplace, which provides tools to make the minting process simpler.
Minting an NFT works by first creating the NFT and then adding it to the blockchain. All NFTs must be added to a blockchain as this is how their unique nature is preserved.
When an NFT is minted, you’re turning a digital file into a crypto asset. The NFT itself doesn’t normally store the file, however. Instead, it includes metadata about the file and a link to its location on the web.
Once an NFT is minted, the NFT is stored in the blockchain forever. The NFT will always show a true, publicly verifiable record of who owns it.
Minting an NFT isn’t free. That’s because the process of adding the NFT to the blockchain uses up resources. Minting an NFT on Ethereum can cost anything from $1 to $1,000.
Different marketplaces and blockchains charge different amounts to mint an NFT. The fee for the minting process comes as a type of “gas fee.” Gas fees vary depending on the price of gas (literally, gas at the pump) at any given time.
You may have to pay other costs before you can mint an NFT, too. For instance, on OpenSea, it can cost between $70 and $300 to initialise your account. First-time sellers also have to pay around $10 to $30 to let OpenSea access their NFTs.
As well as minting fees, you’ll usually have to pay to list your minted NFT for sale.
Minting an NFT might sound quite technical, but it’s actually a straightforward process.
It’s also possible to mint NFTs directly in a blockchain, but this requires quite a high degree of technical skill as described in detail here.
When it comes to football clubs and teams, they’re typically minting NFTs in conjunction with well-known brands such as Sotheby’s auction house and Socios. Football clubs can use a whole range of digital assets as NFTs. The clubs often produce these as limited editions of, say, 100 NFTs. These digital assets might celebrate specific match moments. They could also be used to unlock digital rewards and incentives.
OpenSea is the world’s largest NFT marketplace, so it’s a great place to mint your first NFT. To make an NFT with OpenSea, you’ll need to:
OpenSea has more detailed instructions here.
OpenSea is easy for beginners to use and gives you your choice of blockchain. It’s a huge, popular marketplace with a great reputation and plenty of help and support.
However, you can’t use lazy minting for your first NFT, and you can’t use fiat currency to pay your gas fees. You’ll need crypto in a crypto wallet to create an NFT with OpenSea.
You can mint an NFT on the Solana blockchain using OpenSea, as above. You can also mint an NFT from scratch on Solana, if you have some knowledge of coding and web3. One way to do this is by using the Phantom, Metaplex, and QuickNode technologies, as described in this tutorial. There’s also a QuickNode guide.
If you don’t want to get involved in the techy side of things, you can use the Solsea marketplace (Solana’s largest NFT marketplace) to mint a Solana NFT.You’ll need to:
Solsea has more information here.
Solsea is easy for beginners to use. Transaction fees are low, so it’s also quite cheap to mint NFTs here.
Solsea only uses the Solana blockchain. As with OpenSea, you can’t pay with fiat currency for your gas fees, so you’ll need SOL in a compatible digital wallet.
An NFT collection is a set of related digital collectibles, usually in the form of images. Characters or avatars are particularly popular, as in the Bored Ape Yacht Club collection.
On many marketplaces, you’ll need to create a collection to add your NFTs to. This doesn’t necessarily need to be a collection of very similar NFTs. However, creating a collectible set of NFTs could be very profitable if yours takes off like other famous collections.
You’ll need to:
Another approach to creating an NFT collection is to buy NFTs and use them to build your own unique collection. These NFTs don’t necessarily need to belong to a single NFT “collection” as such. You could choose NFTs that have meaning to you, perhaps from your favourite artists or relating to a sports team that you support. You could then display your NFT collection online, on a website, or even on social media.
NFT art is a form of digital art. Because each NFT is unique, you can own a unique, original piece of art, just like buying the only copy of a physical painting. NFT art is different from fungible tokens, such as bitcoins and other cryptocurrency, because with these currencies no exact equivalent exists for any piece of art.
From an artist’s perspective, NFT art can have a number of benefits. They can access a global marketplace, with no difficulties in shipping their art across borders. Their art can be displayed online by the owner, potentially bringing them greater name recognition.
You can make NFT art using any digital art tools. You might want to try:
Your artwork must not infringe on anyone’s copyright. For instance, you shouldn’t use a Marvel character in your NFT art.
After creating your artwork, you’ll need to turn it into an NFT.
MetaMask is a popular crypto wallet that you can use to store NFTs as well as ETH and other types of cryptoasset. Here’s how:
NFT games are games that use NFTs to represent characters and items. You can sell in-game NFTs to fellow gamers. Some play-to-earn games also let you earn NFTs as you play.
Most NFT games run on either Ethereum or Binance Smart Chain (BSC). To play them, you need to create a crypto wallet using a service such as MetaMask and add crypto (usually ETH) to it. You’ll then be able to purchase NFTs in the game. Some games are free to start with, but you may need to make a purchase in order to trade.
Some of the best-known NFT games include CryptoKitties, Axie Infinity, Sorare, and Dribblie. The highly-anticipated Start Atless will launch fully in late 2022.
NFT games are quite complex to create, because they use the blockchain and smart contracts to structure their game mechanics.
To create your own NFT game, you’ll need to start by choosing a genre. Your game might involve strategy, adventure, puzzles, role playing, sports, or other gaming structures or elements. You’ll want to examine some existing NFT games to see what genres are popular.
You’ll likely need a team that includes designers and developers, unless you have very good design and coding skills yourself. Your game development team will need to create and test the game, then you’ll likely have a beta testing stage where you invite members of the public to test your game before it fully launches.
You’ll need to create your game as a DApp — a decentralised app built on blockchain technology. You’ll have to consider whether users will interact with this DApp through a web browser or a mobile app. In the future, NFT games may also be available for dedicated consoles.
An NFT coin is any cryptocurrency coin that can support an NFT game or platform, and as such, NFT coins are not the same thing as NFTs themselves. For instance, the very popular NFT game Axie Infinity uses its in-game coin, AXS, to keep its play-to-earn economy running.
The main difference between NFTs and NFT coins is that coins are fungible, while NFTs are not. That means you can exchange NFT coins for other coins of the same value, but you can’t do the same thing with regular NFTs.
NFT coins are often called “utility tokens,” especially in relation to games. They’re used as a medium of exchange, and the coins themselves can be sold, just like any cryptoasset. The term “utility token” means the coin has a use within the game or platform.
Some popular examples of NFT coins include AXS, GALA (the Gala Games ecosystem), SAND (the Sandbox ecosystem) and MANA (a cryptocurrency based on Ethereum, used within the virtual-reality real-estate platform Decentraland).
NFT photography is the process of turning photos into NFT art. Photographers and artists can capture beautiful live images, then turn these into artworks. This could involve light editing and touch-ups or significant photo manipulation using software tools. Turning photos into NFTs makes digital photos valuable and collectible.
To create an NFT from a photo, you’ll need to:
People all around you are buying NFTs, so how do you join in? It’s much easier than you might think to own NFTs. Find out how and where to buy NFTs in our next chapter, How and Where to Buy NFTs (link).
Socios.com is currently unavailable to US users.
