What it is and how to create NFTs for free: step by step

What it is and how to create NFTs for free: step by step

While the concept of digital art is far from consensus among artists, photographers, video makers, and other content such as graphic animation, non-fungible token marketplaces (NFTs) have become a reality outside the marketplace. cryptocurrency.

While the industry has not been able to emerge from a downturn that has swept through nearly the entire financial market, art can defy logic because aesthetics are not necessarily tied to investor sentiment. Let’s just say Nyla Hayes, a 13 year old girl who decided to turn dinosaur drawings and other creations out of her imagination into NFTs. Ended up earning $7 million for the girl within 10 months.

But what are non-fungible tokens? When something is fungible, in this case a token, it means it can be easily replaced by the same thing – and it’s easily interchangeable. In the case of non-fungible tokens, each token has unique information or properties that make it impossible or irreplaceable to redeem the same token. Fungible tokens are divisible – meaning you can send a fraction of the ERC-20 token. (Just like cash, you can pay with 10 reais bills and get change.) Non-fungible ERC-721 tokens, on the other hand, cannot be split and must be bought or sold all at once.

In this tutorial, we have chosen the OpenSea marketplace to explain how to create and trade your own NFTs.

market choice

The first step is to define the marketplace, the platform where artists or content producers want to showcase their NFTs. The biggest is OpenSea, from the creation of a digital wallet to the minting of the first NFT, step by step as an example.

Why create a portfolio?

The answer is basically the following: The marketplace, in this case OpenSea, is not responsible for buying and selling NFTs in cryptocurrencies, because the platform acts as a kind of exhibition, a trade fair, with a 2.5% fee reserved in the case of sales.

Create your profile

Open the OpenSea homepage, in the upper right corner, the investor (or exhibitor) must click on “Profile”, similar to how a social network profile is created, except that the platform displays a message asking for authorization to connect to the user’s wallet.

OpenSea will ask to connect to the user’s wallet. Image: OpenSea

But what if I don’t have a wallet?

In this case, this is the first step. For example, since it is considered to be the most commonly used in OpenSea transactions, a MetaMask wallet can be opened in minutes simply by choosing where to install the hot wallet. The following example uses a wallet linked to the Google Chrome browser, which is the selected option.

The following steps are similar to creating an email or social network account in terms of choosing a password and accepting the terms of use, but require extra attention because in addition to the password, the app will also provide a secret 12-word sequence that must be kept in a safe place, Because they are needed when retrieving the wallet.

In addition to passwords, users must save passwords in the order provided. Image: OpenSea

Back to OpenSea

After opening the digital wallet, you must go to the OpenSea home page again, click on “Profile” and then “MetaMask” as shown in the example question. At this point, the wallet will appear in the foreground, and you need to click “Next” to authorize the connection between OpenSea and the wallet.

The user needs to click “Next” to close the connection between the market and the wallet. Image: OpenSea

Editing configuration files in OpenSea

Connecting a wallet automatically releases access to an OpenSea account, which is currently very similar to a profile on Facebook or Instagram, including in relation to editing a profile, including photos, banners, inserting other social links into the space network, such as Twitter, In addition to fields for filling in username and other personal information.

Time to mint the first NFT

Users need to keep in mind that the procedure followed for minting is also similar to the publication on the page, except that a digital product with commercial value, a crypto asset, is being created. Therefore, in addition to owning the work, the user must own photos, paintings, videos, 3D animations, have convincing information, and be the legal owner of the work.

Then just click “Create” in the upper right corner, “Upload” the file you want to send, and fill in the “Name” (work), description, “Collection Name” and other extra information (not mandatory) such as character name and gender measure . One detail is that the platform only allows one coin at a time, so there is no gas cost. The user then needs to choose which blockchain network he wants to use to mint the NFT, in our case the chosen network is Ethereum. Repeat the process to create additional NFTs that can be added to pre-existing collections or inserted into new collections.

The user needs to select the file to be minted. Image: OpenSea

NFTs need to be minted one at a time, so there is no fee, and users also need to choose a blockchain network. Image: OpenSea

lazy coinage

In this example, the minting of the NFT is done with no initial fee, so that the portfolio has no balance. This is because OpenSea uses a feature called “lazy minting” that Rarible also uses, through which NFTs are created, although their final data on the blockchain is not minted when the NFT is created but is confirmed when it is sold . This way, creating a token is still free until someone buys it. In the case of OpenSea, “lazy minting” can be done by choosing the Ethereum and Polygon networks when creating the NFT, and the 2.5% fee is paid by the NFT purchaser.

published works

When creating NFTs, OpenSea offers the option to share crypto assets on various social networks, although each collection also has a specific link that can be used for dissemination.

Gaming is another segment that will help boost the NFT market this year, according to a survey by DappRadar, which showed that these types of games will generate $4.9 million in sales in 2021, reaching $4.9 million this year, Cointelegraph Brasil reported. $484 million. .

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