Creating Your First NFT: A Beginner’s Guide to Minting NFTs - Deepstash

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Creating Your First NFT: A Beginner’s Guide to Minting NFTs

Creating Your First NFT: A Beginner’s Guide to Minting NFTs

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A Beginner’s Guide to Minting NFTs

You have probably heard of Beeple, an American digital artist who sold his NFT piece (a collage of digital images) and made USD 69 million at an auction. And there is similar news of an artwork sold at Christie’s auction house (the first example of an NFT artwork) for USD...

What is an NFT, or what do you understand by an NFT?

First, NFT stands for Non-Fungible Token. Here, non-fungible refers to some entity that cannot be exchanged or interchanged. And by its definition, an NFT is an authentication certificate or a digital asset representing the objects in the real world. And by “Token,” we mean the i...

But why the blockchain and not any other means of technology?

To provide a secure ledger for its trade and preserve its uniqueness . Blockchain is the only technology that can do it safely, making it easy for anyone to buy and sell NFTs.

Remember, each token’s value may increase or decrease since it depends on the growth of t...

-No probability of making its copy.

-No other token can replace it.

-No two individuals can own the same NFT.

-It has a unique code, differentiating it from every other digital replica.

-It’s an authentication certificate that gives you its ultimate ownership.

-It ca...

How does an NFT work in the real world?

It’s a digital era, and an NFT’s purpose is simple — maintaining all digital assets’ uniqueness and authenticity through rightful ownership.

NFTs are those digital assets that are transferable and secured by a digital ledger based on blockchain technology called Ethereum or any other Crypto...

What is lockchain?

Blockchain is a digital ledger or a system that tracks digital information using ultimate security. Neither you nor anyone can hack, change or cheat on such a system that stores all transactional details of your digital assets such as Cryptos, NFTs, etc., within a well-establishe...

Why Are NFTs Even Relevant?

NFTs relevancy comes from the fact that they allow you to tokenize digital assets – from artwork to real estate, i.e., make money out of anything that can be transformed into an NFT and start trading to make a ton of money just like that! However, it’s difficult as being said.

You can use N...

Miniting NFT

Minting an NFT refers to turning a digital file or asset into an NFT (i.e., making a digital file unique using available means and tools) on the Ethereum or similar blockchain. This NFT is stored on a decentralized database, making it possible to edit, modify, or delete. Yes! You can do it.

Thorough research would give you a better understanding of available marketplaces online and allow you to find a valid one to sell your NFT.

List of Top NFT marketplaces:-

OpenSea

Rarible

Foundation

Nifty G...

Step-2: Setting up a wallet for crypto

A crypto wallet is like a bank account that helps you store your NFTs and crypto assets that you create or buy. Besides holding your private keys, a crypto wallet keeps your crypto assets safe and accessible. Such wallets can be both physical and digital.

Here are some most popular crypto w...

Step-3: Connecting the crypto wallet to a marketplace

Once you are over with the second step, it’s time to connect your crypto wallet to the desired marketplace.

For instance, if you’re selling or would want to sell your NFT on OpenSea, kindly visit their website and click “create.” It will redirect you to...

Step-4: Creating your NFT

Finally, let’s get to the core part — creating your NFT. If done cleverly, it can change your life overnight.

So, to create an NFT on OpenSea, you canfollow the following steps

Open any web...

Step-5: Taking on to decide pricing strategy

Once you have created your first ever NFT for trade, then comes the next part, where you need to decide the price of your NFT so that you can sell it.

There are three basic strategies to set a price tag for your NFT:

Fixing the Price: Here, you give a fixed pri...

Step-6: Minting your NFT

You know what minting is — turning your idea (digital art, etc.) into a digital asset called an NFT so that you can associate a price tag to it and sell it. And for this, initiate a digital wallet it will charge a gas fee to initialize your account.

So if...

Step-7: Listing your NFT

Once you’ve finished working on your pricing strategy for your NFT, then go ahead and list your NFT for sale on OpenSea by clicking the button “Complete Listing.”

You can only list your NFT after signing a few transactions using your crypto wallet. Once it’s over, you will see a screen anno...

Cost And Returns Of  NFT

In experts’ views all around the globe, listing an NFT on OpenSea can cost you USD 200 — USD 450 if you’re a first-timer. It may seem high since this includes the gas fee you pay to record your NFT on a blockchain. This fee may vary from time to time .

Along with that, the ...

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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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