Non-fungible tokens (NFTs) are well known today as a lot of famous corporations and personalities – sportsmen, bloggers, artists, – issue their own NFTs. But how to make a non-fungible token? As a matter of fact, a personal NFT is not a privilege, it’s an affordable way of capturing a piece of your creation permanently along with the possibility to get some income. So in this article let’s see how to create NFT.
First of all, in order to create your own NFT, you need to invest in a smart contract. Usually, NFT tokens are created on the most developed Ethereum ecosystem platforms. However, some other blockchains like Tron, Polkadot, Tezos, BSC, Polygon can also be used.
Let’s look at the example of Ether. The standard of these Ethereum tokens is called ERC-721. Besides, NFTs can be issued on the ERC-1155 standard. This helps to create a unique token with special features and ensures the authenticity of a token. The ownership rights are also easily verified via blockchain technology.
To create NFT, you will need a wallet that supports ERC-721 tokens (MetaMask, Trust Wallet, or Coinbase Wallet, for example) and about $200 in cryptocurrency to publish your smart contract in the form of NFT. However, prices massively depend on the network fees and can change in course of time.
As programming is not in everybody’s skill-set, there are multiple marketplaces and platforms where you can create and sell NFT. Let’s review some of them:
OpenSea – the largest service where you can buy, sell, and discover rare digital items. There are various options allowing you to create NFT online stores. OpenSea doesn’t compel expensive NFTs, it rather gives an opportunity to create cheaper NFTs and try your luck in this field. It doesn’t ask for big fees to establish a new series of your unique tokens, making it a top feature for NFT beginners. The website is easily navigable – after tapping the ‘create’ button you’ll be able to continue step by step. OpenSea also provides users with a great opportunity to add extra attributes to boost the uniqueness of the tokens. The traded items include collectibles, in-game goods, domains, digital art, and other blockchain-backed assets.
Rarible – another service to make and sell NFT. Rarible also allows artists to mint their NFTs on-chain, along with giving benefits to selling smaller amounts of NFT for a decent price. Rarible is a non-custodial web market where creators can have Intellectual Property (IP) rights to the art pieces they’re selling. In 2020 Rarible launched RARI – the first governance token in the NFT space. Within a year its price has grown ten times. RARI gives the Rarible users the opportunity and fuel to vote on the platform updates and take part in its development.
Nifty Gateway – Nifty Gateway is a marketplace where you can create your own NFT and also find cheap and unknown NFTs as well as expensive and solid ones. The developers of Nifty Gateway describe their product as something that aims to team up with top brands and artists to create “limited edition, high-quality Nifties” collections, made for only Nifty Gateway. Each ‘drop’ of these collections should be available for only a short period of time, thus increasing the value of NFTs. The global aim is to reach 1 billion people who are collecting NFTs (also known as “nifties”).
SuperRare – SuperRare is a digital market allowing to create, trade, and make an exchange of unique NFTs. As for now it’s not so rapidly growing, but among the NFT enthusiasts is gaining attention. Easy and intuitive navigation makes it one of the most convenient services in this area. There’s a vast variety of artworks that keeps on growing. The rating of top sellers and trending artists shows the number of tokens purchased or created by them. According to this, you can make your judgments on the prospects of a particular NFT.
Mintable – Mintable is an NFT creation platform that also allows easy-to-use minting in the app. There’s a marketplace as well, where the newly-created NFTs can be sold right away at the auctions. There you simply upload the artwork, give it a description, pick a selling price, and the app issues it in the form of an ERC-721 token on the Ethereum blockchain. As each NFT is stored as a unique token on the blockchain, there is a transparent verification of the NFT ownership.
There is one tricky moment to discuss. It’s important to say that many marketplaces of this kind are not capable of encrypting information about the media content piece in the blockchain, but rather they put in the link to their website. So, if the art item is stored in the form of a link to it, it is anything but an NFT.
There is a cool option to store a picture in the Ethereum blockchain directly, then it will be a true NFT that can last forever. Unfortunately, not all the platforms are following this way to create NFT as it is more electricity, money, and energy-consuming.
Summing up, it seems that NFTs are here to stay, at least 2021 is going to be fruitful for the various NFTs. Lately, the hype around it has lied down, but the trend is still alive. For example, recently Katy Perry announced that she was planning to launch her collection of NFTs in 2021. Later on, many of NFT tokens will pass away for sure, yet some of them will stay. And who knows, your NFT may be among them. There’s only one way to find out!