One of the biggest things sweeping the crypto world is NFTs, and while they have been around for a while, you might not realize that anyone can make them.
You don’t need much beyond an idea to choose your selling platform – and, of course, gas money, but we will get into that in a moment.
Before you make an NFT, you need to have a first grasp on the other basics like the Bitcoin mining, what an NFT is, and how any of it is related to blockchain and crypto.
Once you know what an NFT is and how it can make you money – or just become a really enjoyable hobby, here is how you can start to create your own.
You can make like Beeple and create some stunning and collectible NFT artwork if you are artistic. It is good to have a theme in mind before you decide to start producing NFTs. This can make your collections feel cohesive and encourage people to covet the ones you are making.
You can use Photoshop, Canva, Procreate, or any other art program to make your NFT so long as your chosen platform accepts the file type.
The Upfront Cost
One of the biggest searches for NFTs is how you can sell them for free because almost no one talks about the fact that you have to pay to play. And what that means is you will need to pay to have your NFT hosted. Is it a bad thing? Not always because they are also minted too.
And, you can pay fees on transactions too. OpenSea has a transaction fee of 2.5% on every transaction.
If you see the term gas fee, that is the transaction fees that are paid to the miners. Your first listing on OpenSea will see you pay an initialization fee, and then you’ll need to approve a WETH.
You are spoiled for choice when it comes to selling your NFT, but most people are using OpenSea or Rarible. It’s worth looking into lazy minting and the fees before you make a decision.
Any platform you choose will require you to go through the steps of creating a wallet. There are a few big cryptos wallet options like Electrum Coinbase and Crypto.com.
You can also use a hardware wallet like the HyperMate Pro and Ledger Nano X.
Every platform that you can sell your NFT on will have its own explainer guides and videos, and it is important that you watch them before you choose.
How Much Should You Sell NFT For?
One of the rules that people stick by is that the more copies of a specific NFT available, the lower the price should be. This is because they are less rare. If you create only one of each NFT, then you can increase the price since this is automatically a rare NFT.
Since there are so many NFTs available right now and many big names like Beeple, Gary Vee, and Mad Dog Jones, it can be hard to be seen. But creating and selling NFTs is just like launching a business; you need to be consistent, patient, and prepared to make a small investment to get started.
Perhaps you don’t want to create NFTs; you are more interested in buying crypto: Should You Invest in Cryptocurrency? – The Summer Lad.