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Overview: How to create NFT digital art?
NFT or Non-Fungible Tokens are all the buzzwords today. These digital collectibles are known to democratize art.
When we talk about non-fungible, this refers to something that is unique and can’t be replicated or replaced. Unlike fungible tokens like a $5 note, which can be exchanged or replaced by other notes without changing value, non-fungible tokens can’t be replaced or exchanged. Some of the examples of non-fungible are antiques and artwork like Mona Lisa. Similarly, NFTs or non-fungible tokens are digital collectibles that are rare, unique and can’t be replaced.
Also, the uniqueness and rarity of NFTs, unlike some of the other digital cryptocurrencies like Bitcoin or Ethereum, makes them even rarer and expensive (think millions of dollars).
With the highest NFT selling at over USD 91 million, it is no surprise that millions of aspiring artists are looking to make their way into NFT creation and selling. If you, too, are interested in how to create NFT digital art, below we have brought in all information you need to know. So, without wasting any time, let’s see how you can create NFT digital art and get started…
Different Types of NFTs
Honestly, all sorts of digital art can be tokenized. NFTs encompass all sorts of digital art including, JPEGs, GIFs, PNGs, MP3s, and all others you can think of.
Some of the more popular types of NFTs Digital art that are being sold globally includes;
- Digital Art
- Digital Music
- Gaming Assets
- Virtual real estate
- Iconic Sports Moments
- Blockchain domain names
- Video footage
- Tokenized real-work assets
How do I create an NFT art?
Ok, now that we know some of the most popular types of NFTs, let’s quickly move on and see how to create NFTs in simple steps;
- Set up a Crypto wallet
Before you can move on to create your first NFT, you would have to set up a crypto wallet. Globally, there are dozens of trusted crypto wallets, including;
- Alpha Wallet
- Coinbase Wallet
- Trust Wallet
For the sake of better understanding, let’s suppose you choose Enjin as your preferred digital wallet. Now, all you need to do is download the Enjin app, register with your credentials and create your account. You may be required to sync the Enjin extension with the app to complete the account setup.
- Buying Ethereum
Once you are done setting up the crypto wallet, next, you would have to invest in buying some Ethereum, which is the cryptocurrency in which all transactions in the NFT marketplace are done. You will need to buy some Ethereum to pay the gas fees for the NFT marketplace.
Gas Fees refers to the cost you will be paying to mint your NFT. On average, you may have to invest around USD 100 worth of Ethereum to manage Gas Fees and other expenses related to minting the NFTs. At present, the Gas Fees for creating NFTs are pretty high; however, the fees do vary as per the crypto market.
There are other blockchains like Polychain or Polkadot, which can be used to min NFTs and doesn’t even charge gas fees; however, those are rare, and Ethereum blockchain continues to dominate the NFT marketplace.
- Connect the crypto wallet to an NFT marketplace
At the moment, there are various marketplaces where you can sell NFTs, including; Rarible, OpenSea, and others. However, to be able to sell NFTs in those marketplaces, you would have to connect your crypto wallet to the preferred marketplace.
To connect, you can register with any of the preferred marketplaces and connect your crypto wallet with it. Once connected, you will be paying the gas fees of the marketplace. Also, by connecting the crypto wallet to the marketplace, you can be sure that once your NFT is sold, the amount is easily submitted into your wallet.
Some of the top NFT marketplaces include;
- Atomic Market
- Convert your art into NFT.
Once you are done connecting the crypto wallet with the marketplace, you can simply create your art and list it for selling. The NFT marketplace accepts all types of digital art, including; JPEGs, GIFs, MP3s, MP4s, PNGs, and others.
How do I convert an image to NFT?
There is virtually no limit to creating and selling NFTs in the marketplace. People have sold artwork, iconic sports moments, and other digital collectibles for millions of dollars in the marketplace. Now, for the sake of better understanding, Rarible is your marketplace of choice to create and sell NFTs. After you have connected the crypto wallet to the Rarible marketplace, you can simply click “Create” on the homepage. Here you can insert any of your artwork which you wish to sell. You can also choose multiple artworks and choose if you wish to make it a single-piece or multiple.
Once you have created the artwork, you can either set a definite selling price or submit it for auction. If you choose to submit it in an auction, you will receive multiple bids for the NFT, which you may accept or reject.
Also, you can set the “Royalty” for your NFT. This ensures that you receive a fixed percentage amount every time the NFT is sold in the marketplace.
Once you have completed all these steps, you can click on “Create Item” to trigger a payment request in your crypto wallet. Once the payment is approved, the NFT minting process will initiate and be completed at a specific time.
How much does it cost to create an NFT?
As mentioned above, before you can create or sell NFTs, you will have to pay a certain amount in the form of cryptocurrency (most likely Ethereum). However, the overall cost to create an NFT may vary from marketplace to marketplace.
Some marketplaces allow you to create NFTs for free, whereas others may charge significant fees. Rarible, for instance, may charge up to USD 700 from artists to mint their NFTs (this is an upward cost, and actual cost may be significantly lower than this).
While the fee charged by the marketplace may be an important consideration for artists, this shouldn’t be the most important consideration. In fact, it is more important is to research the type of people who uses the marketplace since going for a marketplace with a large number of users would likely increase your chances to sell NFTs.
On average, you may be required to pay USD 70 to USD 100 as gas fees while using Ethereum blockchain.
Can you mint an NFT?
While it may be highly complex, you can still mint your NFT by creating your own smart contract and deploying it to the preferred blockchain before minting the tokens on it.
Why are NFTs so expensive?
From the economics point of view, NFTs are rare, unique and can’t be duplicated. This makes them scarce in the market, and when something is scarce, the prices tend to go up.
How do I start selling NFT art?
To be able to start selling NFT art, you may follow these steps;
- Setup your crypto wallet
- Buy some Ethereum
- Connect the crypto wallet to an NFT marketplace of your choice
- Create and list your NFT for selling
Would you like to explore more about “How to Launch Your Own NFT”, Consult with us here frequenc
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