A non-fungible token (NFT) is a blockchain-based token that has a record of ownership of digital items such as images, video files and sometimes even physical assets. With their multi-million dollar sales hitting the headlines in the last year, they gained massive attention from the world with social media platforms, especially Twitter, being flooded with NFT avatars such as CryptoPunks, Bored Ape Yacht Club and Mutant Ape Yacht Club, and Pudgy Penguins. These non-fungible tokens have even attracted the attention of thousands of celebrities and big brands such as Adidas. But how can you create an NFT? Let’s find out!
It is nothing complicated. Plus, we have provided some beginner-friendly steps for you to follow.
In this guide we will focus on the most popular blockchain for NFTs, Ethereum, and of course, the biggest NFT marketplace OpenSea.
In order to mint your own non-fungible token-or doing anything in the crypto space-first of all you need to get a crypto exchange account. A crypto exchange such as Coinbase or Kraken is where you can buy and sell cryptocurrencies.
Then you need to open up an account and buy some Ethereum. But why Ethereum?
Considering the fact that the majority of NFTs are built on the ethereum blockchain, you are most likely to use Ethereum in order to buy and sell NFTs. It is also the second-largest cryptocurrency by market capitalization and is listed on almost all exchanges, so you definitely will have no trouble buying it. To buy Ethereum you will have to use an NFT marketplace. OpenSea is the one we will cover since it is by far the biggest one of them, currently accounting for nearly 98% of all Ethereum NFT trade. In order to sign up for OpenSea, you will have to pay for what is called “initialization” (a one-time fee in ETH to sign up for the platform). You won’t need much; only the gas price.
All NFT marketplaces work with crypto wallets, so you will need to set up a wallet and send your Ethereum to it. Then sign up for OpenSea using your wallet, go to opensea.io, click
“Profile” on the top-right corner, choose your wallet and our profile is set. All you need to do is enter a username and an email address to verify your account. Now to mint an NFT, simply click “Create” next to your profile picture. Upload a supported file and name your NFT. You can also add a brief description, but it is not necessary. If it is your first time, you may want to leave the rest of the options as default. Click “Create”, and “Sell” in the next step and that’s it. Congratulations! You can either sell your NFT for a fixed price or you can put it up for auction.
Follow Xapa on social media and stay tuned for more!