The Step-by-Step Guide for making NFT Art
Throughout the virtual currency industry, non-fungible tokens (NFTs) are gaining popularity. Many people have searched for ways to create NFT art in order to join the growing craze.
A non-fungible token is one that represents rare and unique items such as virtual real estate, digital art, collectible cards, and more, which are built on blockchain technology.
These tokens generate a lot of income for both the collectors and the designers.
We will examine the benefits that digital artists receive from creating NFT art in this article. Moreover, it contains a step-by-step guide on how to make NFT art, along with answers to questions you may have about the emerging industry.
Artists: Why You Should Create A NFT
Even when the value of their works rises, artists struggle to earn more from their work. But this case does not fully represent NFT art. There are three primary reasons why artists should consider creating an NFT:
Artists can earn lifetime royalties not only by selling their digital art tokens once but by using them indefinitely. Whenever your artwork is sold to a new user, you can program royalties into it and receive a percentage of the sale’s profit.
NFT art can be programmed with percentages ranging from 2.5% to 10%, which means you’ll receive interest on resale for life.
You do not have to pay for auction houses and art galleries since the NFT art sale is conducted online via several peer-to-peer marketplaces. You are able to keep a significant amount of profit from sales this way.
A digital artwork token may be viewed by anyone, linked to, or even downloaded, but it can only be owned by one person at a time.
It possesses an unmistakable certificate of authenticity once it is entered into the blockchain, since the creator, purchase price, and subsequent owners and acquisition prices are visible and travel with the piece. In the traditional art market, this brings about a level of transparency never before seen.
The following section provides a detailed explanation of how you can create NFT art.
Here are 6 easy steps to making NFT art
By following the steps below, you can create your own digital art token:
1. Choose from the NFT marketplaces
Creating your NFT artwork starts here. Peer-to-peer marketplaces fall into two categories:
The curated platforms category of the NFT marketplace is only open to authorized digital art token creators. Rather than simple and low-quality collectibles, they produce high-quality digital art tokens.
SuperRare, for example, is a curated marketplace for NFT. They charge higher transaction fees and have fewer options when it comes to setting the royalty percentages for your artwork.
A self-service platform is a type of peer-to-peer marketplace in which anyone can create their own NFT. This means that you can create yours using a photo, a video, or an audio file. Furthermore, you can specify what percentage of a token sale’s revenue you would like to charge.
This category includes platforms such as OpenSea and Rarible. There is usually a high risk of fraud and imitators in this type of NFT marketplace.
As soon as you have selected the marketplace and created an account, the next step is to start selling. Since this post is intended for beginners, it uses OpenSea, a marketplace for digital arts tokens, as a case study.
2. Install a digital wallet
Creating a digital wallet is the next step to storing both your cryptocurrencies and your NFTs. Cryptocurrencies, specifically Ether, are required for the creation of NFTs.
The Ethereum blockchain is used to create several NFTs, which would help if you own Ether. Before listing any token you have made, you must pay ETH for the gas fee, an Ethereum blockchain transaction fee.
OpenSea usually recommends that you use the MetaMask extension of Google Chrome, purchase ETH, and prepare to mint NFTs.
However, suppose you already have another cryptocurrency wallet that contains ETH. You can transfer ETH from your original wallet to the MetaMask wallet in that case.
Gas fees when creating an NFT typically cost between £20 and £210 in ETH. If you have the money, you can move forward.
3. Make a Collection
Right now, you haven’t created your digital arts token. Click My Collections on the OpenSea account interface. Here you can store and display your digital art.
You must now customize your collection by naming it, creating a description, and uploading an image. It lays the foundation for displaying your artwork once you’ve created it.
4. How to Create Your Digital Arts Token
You will then begin the process of creating your NFT after the collection has been finalized. Click Add New Item, and you will be able to add visual files (PNG, JPG, etc. ), audio files (MP3, for example), and 3D files to your token. Be sure to give it a name, and you are done.
You can mint as many tokens as you like, but they are done one at a time. The number of editions of the same token you would like to create is also important to note.
- A stand-alone art token is one that can only be produced once, which makes it even more valuable.
- The Edition Tokens: This type of token can be created as many times as you like. The only difference between replicas is the edition number.
The next step is to add properties, levels, and statistics to your collection, so you can allow buyers who are exploring your collection to filter it. An example of a property is the date when the token was created.
When you have added all the necessary information, such as social links, updated images, descriptions, and names, click “Create” to add your NFT to the blockchain, and this step requires ETH to pay approval and gas fees.
Tokens are then chosen as the payment method for your digital artwork. On the secondary sale of your artwork, you can also choose the percentage royalty you want to receive.
5. Putting Your Artwork Up For Sale
Following the creation of NFTs, you will need to list them for sale. Your price can be set when you choose either a fixed-price listing or an auction.
You will need to pay a gas fee if it is your first time creating an NFT and selling it.
6. Use social media to promote your work
A substantial fan base will increase your chances of selling your work. To help people discover your artwork, you should share your direct link with potential buyers and promote it on social media.
Another good strategy is to find events pages for NFT drops and list your work there. Many allow free submissions from their users. A good quality NFT calendar with a lot of traffic can boost your visibility significantly, so be sure to add your project – it only takes a couple minutes.
Is NFT art possible without coding?
Yes, it is possible. You do not need to know any coding to create your NFT art.
An example of a step-by-step guide for creating a digital art token without coding is provided above. With this tutorial you’ll learn how to own your digital art tokens and be on your way to owning your properties.
While you’re at it, some NFT platforms provide instructions on how to do it, and if you can access the internet, you should be able to.
Frequently Asked Questions
Do NFTs qualify as cryptocurrencies?
Despite being a cryptographic token, NFTs are not the same as cryptocurrencies. The reason for this is that they cannot be exchanged the same way as a currency.
It is possible to exchange cryptocurrencies at the same value. An exchange of one bitcoin for another does not reduce or increase its value. Non-fungible tokens, however, cannot be exchanged for a fungible token at the same rate. Even if they come from the same pack, no two NFTs are alike.
Are there any risks associated with NFTs?
NFTs have not always been sunshine and rainbows during their minting and trading. Many risks are involved. Among them are:
In this market, there is too much speculation, with many new investors seeking quick profits. Especially if the hype fades, people are at risk of losing money.
The NFT price will be affected simultaneously by high gas fees that are charged for transactions on Ethereum’s blockchain. When tokens are too expensive without much value, it results in the creator losing potential buyers and losing money.
NFTs may not generate sales right away. You might have difficulty getting collectors’ attention if your work is lost with the vast majority of other artwork. A larger fan base would also be ideal for selling tokens for a large sum of money.
What is the best place to buy and sell NFTs?
Since NFTs are interchangeable, they are not traded on exchanges, unlike cryptocurrencies. Peer-to-peer marketplaces, however, are available for buying and selling. There are many examples, such as SuperRare, Maker’s Place, OpenSea, Rarible, etc.
There are many opportunities for growth in the NFT market, which is still relatively young.
Not more than $30 million was invested in the entire NFT market a few years ago. The market, however, has surpassed $1 billion due to the hype around non-fungible tokens in recent months as prominent figures and institutions such as Mark Cuban, the National Basketball Association (NBA), and many more joined the trend.
This article provides an overview of how you can start to give you an edge over other artists.
Categories NFT Guide