A Complete Guide to Minting NFTs | The Motley Fool - Deepstash

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A Complete Guide to Minting NFTs | The Motley Fool

A Complete Guide to Minting NFTs | The Motley Fool

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NFTs are a promising development

NFTs have become very popular among some art collectors and investors. While the verdict is still out if this is a legitimate investment class, NFTs are promising for artists and creators.

With this step-by-step guide, artists and creators can turn their work into an NFT.

NFTs (non-fungible token) is a type of digital certificate that guarantees ownership of a unique digital asset. It is built on a blockchain such as Ethereum.

NFTs is the ability to guarantee yourself as the original creator. You can then set a fee for when that digital asse...

You first need to open a crypto wallet, then connect it to the NFT marketplace. If you're using OpenSea, click either the wallet icon or the "Create" button in the right corner.

Depending on the wallet you want, such as MetaMask or Coinbase, and if you're w...

Create your first item

  • From the marketplace's home page, click the "create" button. You'll be asked to upload a digital file and give your NFT a name. You need to specify which blockchain to base the NFT on, such as Ethereum.
  • Set up how much you'll be paid in royalties if ...

Selling an NFT requires the network to do some computing, which will cost some money, known as a "gas fee."

To complete your first sale, ensure you've purchased some Ethereum or other crypto you want to use on a crypto trading app and deposit it into your wallet. You can th...

List your NFT for sale

Once you've minted your NFT, you can sell it on the open market. Click on the "Sell" button in the upper right corner of your NFT's description page.

  • Pick the type of sale: A fixed price based on your cryptocurrency of choice or a timed auction.

Manage your NFT business

When your NFT is created and listed for sale, you need to engage with potential buyers. You can also create more NFTs as part of a collection, attracting art collectors or speculator attention.

Interacting with users and collectors on NFT marketplaces will build rapport whi...

While some digital creators make big easy money by creating NFTs, it's still early days. However, the ability to passively monetise work long after the original sale could be a game-changer for artists, musicians, content producers, video game developers, etc.

Turning your ...

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created 8 ideas

This article explains the basics of NFTs and then explores how to create an NFT using two of the most popular marketplaces. It is meant to be a brief guide to help you get started.

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