How to Make an NFT
The crypto and blockchain world is blowing up. What started as a crazy idea that no one believed in (Bitcoin) is now worth $49,000 each.
Experts predict that our economy will shift more towards crypto in the next few years, and some think we’ll be leaving physical money behind altogether by 2050.
NFTs prove this point, at least in the art world. They’re the newest and most exciting use for crypto, and they can make you thousands of dollars. To learn about them and how to make an NFT, read below.
What is an NFT?
An NFT is a piece of digitized artwork that lives on a blockchain. It stands for Non-fungible tokens and started gaining popularity in January 2021.
NFT artwork can be anything from crazy monkey-looking cartoons that resemble the Gorillas music video 2009 to classic roses and hand-painted flowers scanned into digital form.
What’s the difference between buying and NFT and buying art in person? The NFT only exists online, while art can hang in your home.
Can You Really Make Money With Them?
Yes. If you’re a talented digital designer or graphic artist, you can make millions with NFTs. One artist, Beeple, sold one for 69 million USD last year.
You’ve also likely heard of the Bored Ape Yacht Club, a super exclusive set of NFTs owned by the likes of Justin Beiber. Those NFTs cost millions and get you access to owner-only parties.
How to Make an NFT
Anyone with a little bit of artistic talent, tech skills, and some business savvy can make an NFT. You can even make NFT memes if you own the intellectual property of the content.
Think about what you could make that’s unique, exclusive, and creative. Once Bored Ape Yacht Club went viral, the marketplace saw an influx of cartoon-animal designs. Doing something different and unexpected will increase your chances of getting noticed, making marketing easier.
Once you have your digital asset, you’ll need to…
Choose a Blockchain to Use
There are many different blockchains to choose from, from Bitcoin to Dogecoin to Ethereum. Ethereum is one of the most popular chains, topping many 2022 cryptos-to-watch lists.
Some sites specialize in helping NFT creators, like sandstorm.co.
Once you’ve picked a blockchain to use, you’ll need to find a digital wallet where you can store and access your cryptocurrency.
Upload Your NFT
The last step of making an NFT is choosing a marketplace to list it on, deciding the price, and marketing it. The sky’s the limit when it comes to pricing your work.
Pricing artwork is all about knowing the market and knowing your worth. Have you ever been in an art gallery and have seen something selling for thousands that you feel you could have done yourself? That artist had the confidence to value their work at that price, and so should you.
Expect to Pay Fees
Finally, there will be fees associated with selling your NFTs. The fees differ per platform, making what seems like an easy and free way to make money a little more complicated.
Research the fee schedule when choosing your minting platform in step five above.
How to Make an NFT and Get Rich
If you’re a talented designer and have tech skills, there’s no reason you shouldn’t attempt making NFTs. They’re relatively cheap to list and could make you millions if you’re lucky.
We hope you’ve enjoyed this guide on how to make an NFT and wish you luck in your journey. For more crypto and business content like this, follow our blog.