Non-fungible tokens (NFTs) have become an integral part of the digital currency industry around the world, prompting many people to find ways to take advantage of the raging mania to make a few bucks. That’s why you’ll find many people looking for the best ways to create NFT artwork. Others want to learn how to sell NFT artwork and how to make money off NFTs. In this article, you’ll learn quick tips on how to make NFT artwork, if you should hire NFT developers, all so you can eventually join the NFT craze.
What Are NFTs?
Just a few months ago, you must have read the shocking reports about Grimes getting millions of dollars for NFTs, Nyan Cat being sold as one, or the Twitter founder putting up an autographed for sale as an NFT. These reports left everybody wondering: What in the world are NFTs?
First, NFTs are virtual assets developed on blockchain technology that embody rare and exclusive items, such as digital real estate, virtual artwork, collectible sports cards, among others. Many people are earning large sums of money from NFTs, including creators and collectors. A non-fungible token means that it’s exclusive and can’t be substituted with another.
For example, a unique trading card is non-fungible because it can’t be replaced with another. If you trade your trading card for another, you’ll end up with a different card. Note that at the highest level, NFTs are implemented by the Ethereum blockchain, which is a cryptocurrency like bitcoin.
NFTs store extra data that enables them to work somewhat differently from cryptocurrencies. However, it’s important to note that other blockchain platforms can support their own versions of NFTs. Essentially, NFTs can be anything digital, including drawings, music, video clips, tweets, etc. However, a lot of conversations about NFTs revolve around digital artwork. Therefore, you need to learn how you can make NFT artwork for commercial purposes.
A Guide on How to Make NFT Artwork
For centuries, artists haven’t been able to earn enough money from their work even though the value of their pieces has been steadily increasing. But with NFT art, artists have started to enjoy the fruits of their work because NFTs give them lifetime royalties, full ownership, and a cost-effective way to sell their artwork.
Traditionally, creators had to spend huge sums of money on auction garages and art galleries. With NFTs, you sell your work online through various peer-to-peer marketplaces. But you have to create the right NFT artwork to be able to earn enough money from your work. Here are the important steps you should follow when making your NFT artwork.
Choose the Right NFT Marketplace
There are two main categories of NFT marketplaces, namely; curated platforms and self-service platforms. A curated platform is mainly designed for authorized artists and it focuses on high-quality art tokens, not modest and low-quality tokens. However, a curated NFT platform offers high transaction fees and low flexibility on the percentage of royalties you can channel into your work.
A self-service NFT platform, on the other hand, is open for everyone to make their NFT artwork. Therefore, you can use it to create photos, videos, drawings, or any other collectible. Furthermore, it allows you to set your preferred percentage of royalty to channel into your work. But since this platform is free for all, it has been infiltrated by fraudsters and imitators.
Create Your Digital Wallet
You have to set up your digital wallet where you’ll store your cryptocurrencies and NFTs. Having some Ethereum on hand is often necessary for the creation of NFT artwork, especially since most NFTs are implemented by the Ethereum blockchain. You’ll use these cryptocurrencies to pay the Ethereum blockchain transaction cost, also known as the gas fee, before listing your token. The gas fee is normally between £10 and £200 worth of ETH.
Set Up Your Collection
Go to the interface of your preferred marketplace and click My Collections. This will be the store or art gallery of your collectibles. You can easily customize your store by giving it a unique name, creating a description, and adding a display photo.
Developing Your Tokens
Although you can create your own NFT by following the steps below, it’s usually best to leave the development to professional NFT developers, but by following these steps, you can take a DIY approach:
- Click ‘Add New Item’ to upload your metadata, which may include audio, visual, or 3D files. Remember to name each token.
- Choose the number of tokens you wish to mint. Although you can mint as many tokens as you wish, it’s good to do one at a time. Also, decide how many versions of each token you want to make.
- Add properties, stats, and levels where necessary to allow collectors to filter your tokens easily. Include all the important details, including the dates of creation, social links, descriptions, names, etc. At this point, you’ll be required to pay your gas fee for approval.
Listing and Promoting Your Artwork
Once you’ve entered all the details, list your artwork for sale. It could be a fixed-price listing or an auction. Make sure to create a significant fan base for your NFTs by sharing likes to your collection on social media.
