How to Create and Sell NFTs – Beginner’s Guide

The noise around NFT started in 2020 when the concept was first put into practice. Since then, the word has spread, convincing people interested in the topic to explore and exploit the NFT ecosystem in any way they can. There are thousands of people trying to sell their non-fungible tokens on all available marketplaces and the number is growing every day as NFT has now become more accessible than ever. But the road to selling an NFT has many twists and turns and is short or long depending on your decisions and financial capabilities.

What is an NFT?

NFT is an acronym that stands for non-fungible token. It simply means that it cannot be replaced with another token, object, or value, making the token unique across the blockchain ecosystem. For example, you can exchange and substitute fungible tokens such as cryptocurrencies and you would receive the same value with the same or a different title. Summarized:

Each NFT ≠Each NFT

1 FT= 1 FT

Any NFT = any amount of FT

An NFT typically contains content—images, videos, music, and anything else that can be represented graphically, by sound, or text—in digital form. A large part of all NFTs runs on the Ethereum blockchain, but there are already several alternatives. This means that in addition to cryptocurrency, the blockchain also supports the information related to the NFTs and allows them to be valued in the same currency. An NFT can be sold at any price that the seller quotes or that the buyer offers in marketplaces.

Why would anyone buy your NFT?!

If you’re reading this article, you’ve probably heard of Nyan Cat GIF that sold as NFT for ~300ETH or $690,000. What is so special about it and why would anyone buy it for such a price?! The answer is simple – one of the most popular memes on the internet was traded because the buyer wanted to declare themselves the sole legal owner of that content.

In case you haven’t noticed, by turning content into an NFT, you declare yourself the owner of the original, and any other identical content is only considered a copy of the original and cannot be registered on the blockchain or traded. So before converting your content to NFT, make sure it has a chance to sell. Even selling an NFT for $100 in crypto is a win as it has a trading and ownership history, meaning your next piece of content can gain additional visibility and earn more tokens.

How do you turn content into an NFT?

To create an NFT, you must own three simple things:

1 An account on any NFT marketplace

2 A crypto wallet supported by the marketplace where you have an account

3 Digital content (image, video, sound) weighing less than 100 MB and in one of the following formats

Make sure the marketplace supports NFTs in the format your content is in, and also make sure you have cryptocurrency to mint and have performed at least one operation (sell, buy, transfer) from your wallet, again in the currency in which you wish to sell your newly created NFT.

The next steps may vary from marketplace to marketplace, but I will explain my experience (for research purposes) on OpenSea. When you have all three components ready, the first thing you need to do is connect your wallet to the marketplace.

Since OpenSea mainly trades ETH and WETH, the best wallet option for me was MetaMask, which also supports ETH and especially WETH. Next, you need to go to OpenSea, select Create in the top right corner and follow the instructions.

However, I recommend paying attention to a few things during the process:

1.  Make sure your content has a chance to sell, so above all, ask yourself why anyone should buy your NFT! Look at the most popular and best-selling NFTs from the category your content belongs to and see how much they would cost. Make sure your NFT is of good quality
2.  Add a link to your NFT. It could help spread your offer through the number of views and information sharing. Also, it can help increase the price and sell the product faster.
3.  Add a promotional description. Provide details, e.g. B. when, where, and why it was created. Use the best text you have.
4. Add traits, stats, and tiers if applicable – this will help others better evaluate your NFT.
5. If you’re serious about selling the NFT, don’t overestimate the price. Be realistic and sell it for the price you would be willing to pay.
6. Think of your NFT as art. Most buyers do, so it should make users feel. Any feeling is good, but intensity determines price scalability.
7. Use your content to unlock something more valuable, like a ticket to an event.
8. In my case, I couldn’t help but create something on the theme that will forever mark February 2022.

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