Recently, Indonesia was shocked by the news of a man from Solo named Ghozali selling NFT selfie photos for billions of rupiahs. Although NFTs gained recognition and popularity in 2020, Ghozali’s success story made NFTs more desirable in the Indonesian market.
A Non-Fungible Token, or NFT, is a digital asset in the form of art. Despite its newfound popularity in 2022, the NFT has been around since 2014. NFT sales have increased by 55% since 2020, reaching 389 million US dollars (equivalent to 5 trillion rupiahs). With this trend, NFT is gaining even more mainstream attention.
NFTs are generally digital works of art. They can be videos, music, illustrations, writings, and many other kinds of art that are considered to be high-value. Each NFT work is unique and different from others, thus giving the holder valid proof of ownership. Proof of ownership is traded in the market and usually uses crypto as a transaction tool. The price also follows the market and adjusts to existing demand levels.
Today, even copies of the same NFT can be traded and are considered a valid part of the blockchain system. However, the price is significantly lower than that of the original work. With high profits from the sale of these assets, it is not surprising that many are interested in owning them. However, did you know that anyone can create their own NFTs? Here is a complete explanation of how to make an NFT for beginners.
How to Make NFTs
Given the increasing popularity of the NFT market, many people want to invest in these assets. But wouldn’t it be more interesting to create one yourself and sell it on the market? Since NFTs are digital works of art, of course it can be done by anyone! Here are the steps for making NFT for beginners.
- Preparing your Artwork or Other NFT Assets
The first thing you have to do is prepare your NFT work in the form of music, videos, memes, or GIFs. This preparation is important because you need to claim intellectual property rights in advance. You can do this by legally filing the ownership rights before converting them into an NFT so as not to violate existing rules in the blockchain system. After that, you can register the work on the blockchain of your choice as an NFT.
- Choose Blockchain
To covert regular artwork to an NFT, you have to put the asset on a blockchain. Ethereum is a common choice for most artists. In addition, also make sure that you have a crypto wallet that has been integrated into this blockchain to facilitate payment transactions.
- Choose NFT Marketplace
You also need a marketplace platform on which to buy and sell NFTs. There are several well-known NFT platforms that you can choose from, like OpenSea, Rarible, Foundation, Mintable, Axie Marketplace, NBA Top Shot, Larva Labs, and others. Each of these marketplaces has its own characteristics, so make sure you choose one according to the type of artwork you have.
How to Make an NFT on OpenSea
Follow these steps through the Android app to create an NFT on OpenSea:
- Open the OpenSea platform
- Connect your crypto wallet
- Go to the account menu and select My Collection
- Select the Create a Collection menu
- Upload the file that will be used as NFT and name it
- Fill in the detailed description for your NFT asset
- Click Create
- Your NFT is ready
How to Sell NFT on OpenSea
After successfully creating your NFT assets on OpenSea, then the next step is sell them on the market. But before you start, make sure that you have a balance on MetaMask of Ethereum 0.05. You should also understand that there is a 2.5% fee that OpenSea will collect from each successful sale you make. When you have prepared your NFT balance and assets, here is how to sell NFT through OpenSea:
- Select “My Collection” by clicking the profile photo icon in the upper right corner
- Select the NFT that you have created, then click “Sell”
- Select a sales method. If you want to make a direct sale, click the “Fixed Price” option, and if you are interested in using the auction method, click the “Time Auction” option.
- Enter NFT price based on Ethereum cryptocurrency
- Click “Duration” to specify how long you want to sell the asset
- When finished making the above settings, click the “Complete Listing” option
- Next, OpenSea will open your MetaMask to confirm the registration of NFT sales