How to Make an NFT: Step-by-Step Guide

Written by Steven WhiteUpdated: 6th Oct 2021
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If you’re interested in the cryptospace, you might have thought about making an NFT. But how do you actually make an NFT? Setting the quality of the art aside, it’s not that hard to create, list, and sell an NFT.

This article is a step-by-step guide on how to make an NFT. But before we jump into the recipe, it’s important to know why NFTs are important and how they’re different from your average jpeg.

Understanding Non-Fungible Tokens

If you are new to the world of cryptocurrency and blockchain technology, the idea of non-fungible tokens (NFTs) may seem a bit overwhelming at first.

You probably heard about them on television, or maybe you’ve seen them mentioned on your favorite YouTube channel. Perhaps you’ve even heard about pieces of art being sold as NFTs worth millions of dollars.

But what does any of this even mean?

Well, the term fungible implies that the thing being referenced is not unique in and of itself. Examples of fungible things include bank notes, stocks, and effectively anything that can be exchanged for another without the value changing.

The twenty-dollar bill in your pocket has the same objective value as the twenty-dollar bill in your friend’s pocket; they are not unique.

A non-fungible item is the exact opposite of this. They are inherently unique and distinguishable from other items because their ownership is tracked. For example, a ring passed down by your grandmother would be a non-fungible item.

While similar rings may be available, the information and emotion related to the ring cannot be replaced by simply purchasing another ring. In this sense, the ring is non-fungible.

The same concept applies to art pieces, such as those painted by renowned artists like Vincent van Gogh or Leonardo da Vinci.

While a modern artist can easily create copies of these pieces, they will never have the same intrinsic value as the originals. Therefore, the originals are considered non-fungible.

Now that you understand what a non-fungible item is, let’s discuss non-fungible tokens. A non-fungible token is the digital representation of a non-fungible item that exists on a blockchain.

The NFT acts as proof of ownership of any physical or virtual asset.

NFTs are cryptographically secured and made immutable on a given blockchain. This means that the data associated with an NFT, such as ownership, cannot be altered until desired by its owner.

It’s reasonable to wonder how to make an NFT because the use cases for NFTs are becoming more apparent as blockchain technology continues to develop.

Today, many companies are considering ways to use NFTs to represent in-game items, artwork, copyrights, property rights, music, and so much more.

>> More: Best Crypto Exchanges

How to Make an NFT (Step-by-Step)

Now that you understand the inner workings of non-fungible tokens, you can start the process of creating your own NFT.

Here are some specific steps you can follow to make an NFT.

#1. Get Some Cryptocurrency

To create an NFT, you must pay a blockchain platform to mint, or generate, the NFT. A majority of platforms require you to pay for this service using Ether, the token that is native to Ethereum’sopen-source blockchain platform.

Ether can be volatile in price. Therefore, it’s not obvious how much it will cost to mint an NFT at a given time.

#2. Make Sure You Have a Digital Wallet

You’ll need a digital wallet to store your cryptocurrency. We suggest downloading MetaMask for this part of the process.

This wallet is secure and user-friendly, so you can store your cryptocurrency and connect an NFT with ease.

After downloading the application or installing a browser extension, you’ll be asked to create a new wallet and seed phrase.

The seed phrase is a list of words that stores information on the blockchain. After accepting all the terms and making a password, your account will be officially set up.

#3. Add Crypto to Digital Wallet

You can store your ETH in your MetaMask wallet. Just click on the buy button, then select Buy ETH with Wyre. The purchase can be made using Apple Pay or a debit card.

#4. Decide on Which Blockchain You Want to Issue Your NFT

Now you need to choose which Blockchain platform you want to use to issue your NFT. There are many options to choose from, so you want to think thoroughly about this part of the NFT creation process. The cryptocurrency you elected to purchase in step one, such as Ethereum or Solana, may also influence this decision.

#5. Connect Digital Wallet to An NFT Marketplace

When you connect your wallet to an NFT marketplace, you choose where the NFT will be minted. These are some NFT marketplace options:

  • OpenSea: This is a popular peer-to-peer marketplace designed to allow users to create and exchange crypto-collectibles and non-fungible tokens. There are a variety of items that can be produced using this platform. They include collectible items, gaming items, and other virtual goods that are positioned on the blockchain. Through OpenSea, anyone can buy or sell such items securely using smart contracts.
  • Rarible: Rarible is a marketplace for crypto assets. It also functions as a distributed network that is built on the Ethereum blockchain. Using Rarible, you can trade without any middleman. This platform is designed to link sellers with buyers who wish to purchase NFTs. Projects made through Rarible are created as tokens on the Ethereum blockchain.
  • Mintable: Here’s another blockchain platform that allows you to turn digital content into NFTs. You can use Mintable to create various items, including images, music, videos, books, and even complex digital files like 3D artwork. Through Mintable, you can browse a detailed marketplace and purchase or sell NFTs. All transactions are recorded on the blockchain, meaning there is permanent proof that you are the owner of an NFT. If you use Mintable to make a purchase or sell an NFT, you will be rewarded with a MINT token. These tokens allow you to vote on the Mintable DAO.
  • Axie Marketplace: This is a unique marketplace designed for a game called Axie Infinity. Axie Infinity is a digital pet community that involves collecting, training, raising, and battling fantasy creatures that are named Axie. Through this marketplace, you can purchase Axies, Land, and other in-game items. Each Axie has genetic data that is stored on the Ethereum blockchain. Through the Axie Marketplace, you can buy and sell in-game items, which are NFTs.
  • Larva Labs: This is a mobile app company that produces a variety of games and applications using blockchain technology. Some of their platforms involve the trade and creation of NFTs.
  • SuperRare: This is a marketplace that allows users to collect and trade unique, single-edition digital artwork. Members of the network can create NFTs and sell them here. You can also purchase NFTs from other users.

#6. Upload Your File

Now that you’ve chosen a platform, you need to upload your file. With many platforms, you’ll be given the option to either sell one unique item or sell the same item multiple times.

After making your selection here, you need to upload your file. Some sites have file size limits.

#7. Set Up an Online Auction

Once your NFT is made, you’ll be able to auction it off. You can either set the NFT for sale at a fixed price or accept bids until you accept one.

You can also choose a timed auction that only auctions the item for a certain period of time. Before auctioning, you must set a minimum price.

Choosing the minimum price is important because any profits will be taken up by fees if it’s too low.

#8. Pay Listing Fee

Now it’s time to pay the fees associated with listing the item. Multiple fees will be charged, so be warned.

First, you’ll pay the listing fee, then you’ll pay another fee to generate your NFT, then there will be a commission on any sales that are made. Prices can vary significantly based on several factors.

#9. Sell Your NFT

Now that your NFT is made, it’s time to find a buyer! Do whatever you can to find someone who is interested in purchasing your NFT. You can leverage social media to get the word out on your creation with a simple link.

Things to Consider When Making an NFT

You must think about fees and costs when making your NFT. Listing at too low a rate could leave you walking away with little profits due to the fees.

If you’re using ETH to pay for your NFT’s creation, you also need to consider how much it will cost to get the ETH.

Don’t underestimate the value of your NFTs. Make sure you list your art at an appropriate price.

It’s also important to consider whether you want to auction off your NFT or sell it at a fixed price.

Auctions can attract more people to your item, while fixed price formats can be easier to manage with the potential for faster sales.

Keep in mind that you can net royalties on your NFT items. This means that anytime your NFT is sold, you will automatically receive a percentage of the sale. This is important to think about when you list your own NFT.

Frequently Asked Questions

How much does it cost to create an NFT?

There is no exact answer to this question, as the cost to generate and list an NFT varies based on the current state of the blockchain platform you are listing on. It also depends if you’re listing a screenshot of a tweet versus an AI-generated piece of art that requires expensive software.

How do I create an NFT collection?

You can include several NFTs in a collection by producing a variety of NFTs and using blockchain platforms to group them together.

How do I make NFT art for free?

You cannot sell NFT art for free. All platforms require you to pay some fees to list and generate an NFT.

How do you make an NFT and sell it?

Wondering how to make an NFT and sell it? You must get some cryptocurrency, then upload your digital item to your preferred marketplace. There are fees associated with this process.

Bottom Line: How to Make an NFT

At first, making and selling an NFT might appear to be difficult. But now you have a step-by-step guide on how to make your first NFT.

Why not get started today?

Steven White
Steven White

Steven White is a SimpleMoneyLyfe authority on Cryptocurrency. He started his writing career producing content for higher education institutions. Steven worked frequently on content that was intended to encourage finance students to pursue Master’s level education. After moving on from that position, he has also held editorial roles for online cryptocurrency publications, like The Daily Hodl. Steven’s area of expertise is bitcoin, cryptocurrency, and financial technology.