Learn more about crypto with this collection
How to create and sell NFTs
The future of NFTs
The benefits and drawbacks of NFTs
Choose a platform to sell your NFT on
Many platforms allow you to sell NFTs across a variety of blockchains. Two of the more popular marketplaces are OpenSea and Rarible.
Both allow you to create NFTs on Ethereum without paying fees, using "lazy minting" systems. Lazy minting lets you create an NFT and put it up for sale without writing to the blockchain. When someone buys it, the fees for writing your NFT to the blockchain are added to the sale. Fees are 2.5 %
The catch:
- With OpenSea, you have to initialize your account ($300 to $400 range).
- With Rarible, trying to remove your NFT from sale will cost a fee ($20 to $30).
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Connect your wallet
Once you have a wallet set up, connect it with the NFT marketplace you want to use.
- With OpenSea and Rarible, click the create button in the top left which will ask you to connect your wallet. You will be presented with a list of compatible wallets you can choose from....
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Set up a wallet
Wallets are applications you use to store your cryptocurrencies and any NFTs you end up minting or buying. Use a wallet that is compatible with the blockchain you're using.
- MetaMask's wallet is widely supported by Ethereum-based applications like OpenS...
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Alternatives to Ethereum
- Rarible lets you sell NFTs using the Flow blockchain if you sign up for it using the Blocto wallet. However, choosing to use Flow on Rarible will limit you to single edition NFTs. You can't sell them with an auction.
- OpenSea ...
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Considerations when deciding to sell an NFT
- Transaction fees. Some platforms will let you create NFTs for free, but selling them has other demands.
- Most NFTs are sold on the Ethereum blockchain, and every transaction on the Ethereum blockchain costs fees.
- The f...
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Listing an NFT on Rarible
- You will be asked whether you want to create a single- or a multiple-edition NFT.
- Next, upload the digital file using the Choose File button. It will eventually end up on the InterPlanetary File System (IPFS), a decentralised way to...
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Quick overview of an NFT
- NFT's (non-fungible tokens) are digital tokens that are stored on a blockchain.
- In cryptocurrencies, each coin is the same, whereas, each NFT is unique. NFTs can be sold as a way to prove ownership of a digital file.
- The files are not stored...
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Create an NFT on OpenSea
- Click the Create button in the upper right-hand corner.
- Click the box with an image icon in it to upload the file you'll be selling as an NFT.
- Give it a title. Add a URL in the External Link field that points to your website ...
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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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