In recent years, NFT Arts has grown greatly in popularity among some investors and art collectors. Digital artwork and caricatures have already been sold for several millions of dollars, causing some speculators to scoop up some NFT Arts in the hope of getting rich very quickly.
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The topic is still out on debate whether this is a hype that would die off soon or a legitimate investment class. However, NFT arts happen to be a promising development for artists and creators. In this article, you would get a step-by-step guide on how to mint an NFT art.
How to mint NFT Art
The word NFT stands for “non-fungible token,” which is a form of digital certificate that is built on the blockchain technology mostly on the Ethereum Blockchain which guarantees the ownership of a single unique digital asset. Minting digital assets (everything ranging from art, music, images to articles) as an NFT is a way for artists to monetize their work void of plagiarism.
Of course, the selling of digital files is not a new concept. But one of the more innovative uses for NFTs is the ability to guarantee that you are the original creator. Because NFTs are stored on a blockchain, the creator of the NFT is recorded in the public ledger. Would you like to know about Metaverse?
Therefore, you can set any fee for whenever that digital asset is sold in the future (known in the business world as an Nft art royalty fee) and earn passive income over time if your work is sold on the secondary market.
Here’s how you can go about minting them. Each NFT marketplace has a slightly different method, so, for the sake of simplicity, I’m turning a picture I took of a French bulldog wearing sunglasses into an NFT on OpenSea, which claims to be the largest NFT marketplace that you can find.
1. Connect your digital wallet
To get started with minting Nft Arts, you will first need to open a new wallet( that is if you don’t already have one) and then connect your crypto wallet to the NFT marketplace. On OpenSea, you can either click the wallet icon or the “Create” button that is located in the top right corner to get started. Other marketplaces will use a similar prompt to connect your wallet and to create a new profile for you.
Depending on the particular wallet that you’re using, such as MetaMask or Coinbase Wallet, and the device that you are working from, you will be asked to either connect your wallet by using a simple QR code scanner on your smartphone or to download your wallet onto your computer. Once the connection is complete, your crypto wallet is connected and your marketplace profile created. Ensure that you complete your profile.
2. Create your first item
From the home page of the marketplace that you are on, click on the “Create” button that is usually seen in the upper right corner. From there you will be prompted to upload your digital file and give your NFT any name for it. Optional fields can include a description for your digital work, an external link for people to see more information about you such as your portfolio website, and which blockchain to base the NFT art on.
This is also the place where you can set up how much you will be paid in royalties if your NFT gets sold again and for subsequent sales. Five percent to 10% of the secondary sales price is considered a standard royalty amount.
Click on “Complete,” and you have successfully minted your first NFT Art.
3. Make sure that your wallet is funded
Selling an NFT art would need to use the network to carry out some computing. That transaction would cost you some money, which is popularly referred to as a “gas fee.”
To complete your first sale, make sure that you have purchased some Ethereum or any other crypto in the blockchain that your NFT art is based off on a crypto trading app and deposit it into your wallet. Depending on the marketplace, you can then make a transfer of the crypto from your wallet to your NFT marketplace account. Some marketplaces, such as the popular OpenSea, would allow you to purchase crypto directly from your marketplace profile by setting up a payment method such as a valid credit card.
If you are not sure of how much crypto you will need to buy, it would be automatically calculated for you in the next step before you make any transaction.
4. List your NFT art for sale
Once you have minted your NFT art, you are then ready to sell it on the open market. Click on the “Sell” button that is in the upper right corner of your NFT art description page.
It is at this point that you will have to specify the details of your sale. Pick the type of sale that you want, it can be a fixed price that is based on your selected cryptocurrency of choice or a timed auction that would expire after some set time.
Next, click on the “Complete listing” button. The marketplace would then calculate the gas fees based on the cryptocurrency network’s activity level at the particular time of listing and request payment from your designated crypto wallet.
5. Manage your NFT business
Once your NFT Art has been fully created and listed for sale, it is now time to start engaging with your potential patrons. You can also create more NFT arts and include them as part of a collection of digital works, which might attract art collectors’ or the attention of speculators’. NFTs created on one marketplace can also be transferred and sold on to a different one, although fees for doing so might also be involved.
Conclusion on How To Mint Nft Art
Although there are tons of reports showing that some digital creators are making huge and easy money by creating NFTs, you should bear in mind that the work is still in its early days for this movement. Therefore, minting and selling NFT Arts should not be viewed as a get-rich-quick scheme. It will need you to also cover some upfront cost to sell your digital assets in this manner, and there is no guarantee that anyone would be willing to purchase your work.
