How to make your first NFT

Introduction

Non-fungible tokens (NFTs) are digital assets that have unique properties, such as being associated with a specific owner or being a unique art piece. Some examples of NFTs include baseball cards, real estate deeds and certificates of authenticity. While similar to cryptocurrencies like Bitcoin and Ethereum—both of which are fungible because each can be exchanged one to one (1 BTC will always equal 1BTC)—NFTs offer more interesting use cases for blockchain technology because they can represent physical objects, and or have attributes like rarity or ownership history attached to them.

About NFTs

A non-fungible token, or NFT for short, is a digital asset that you can own and trade. An NFT is not interchangeable with any other asset on a 1:1 basis. It’s unique! For example, one token may represent ownership of an original Picasso painting. Another token could represent ownership of an early edition of Harry Potter and the Goblet of Fire.

There are many different types of non-fungible tokens available today, but they all share some common characteristics:

• they’re used to represent something unique;

• they can be owned by individuals or groups;

• they can be bought and sold on digital platforms;

• each token has its own set of rules governing its use (whether it will only work within certain games);

• transactions involving these tokens are logged on the blockchain—i.e., a public ledger containing records that cannot be altered after the fact

What’s the difference between a non-fungible token and a fungible token?

Fungible tokens are interchangeable with one another. For example, a single bitcoin is worth the same as any other bitcoin. If you want to trade five of your bitcoins for 5 of someone else’s and vice versa, there’s no problem doing so.

Non-fungible tokens (NFTs), on the other hand, are unique and cannot be replaced by another token in the same way that fungible tokens can. In this context, non-fungibility means that each NFT has its own distinct identity: it has its history and characteristics that make it different from all other NFTs out there.

What makes an NFT valuable?

With the help of a few friends, we’ve compiled a list of all the things that make an NFT valuable:

• It’s rare.

• It has a unique story.

• It has a unique purpose.

• It’s a limited edition (i.e., there are only 100 copies).

• It’s innovative

How to create your first NFT

The process of creating an NFT can be broken down into six steps:

• Decide what you want your NFT to represent and create an image or design for it using Solidity programming or enlisting help from a developer who knows solidity programming well

• Update the metadata on your newly created ERC-721 token with information such as description, title and images

• Create your own ERC-721 token and deploy the contract to Ethereum’s testnet (or mainnet if you’re confident)

• Identify the value proposition of your NFT and set its price accordingly, taking into consideration how much time went into creating it

Make sure you have enough funds to make your NFT.

You need some ETH(This is used to pay gas for minting) to make an NFT, which you can buy on a crypto exchange or use your existing crypto wallet to send over. If you don’t have any ETH in your wallet, check out our guide on how to get started with Ethereum.

Choose an NFT marketplace.

• OpenSea

• Rarity

• Decentraland

• Opensea

• Ethplorer

Learn Solidity programming or enlist some help.

For this step, you have several options:

• Learn Solidity programming or enlist some help. If you’re comfortable with programming in a language like C++ or Java, learning Solidity is fairly straightforward—just be sure to read up on the syntax differences between these languages and solidity before diving in. If you don’t know how to program at all but want to create an NFT using Ethereum, there are plenty of resources out there for beginners that can get you started with writing smart contracts without having to learn any new languages

• Use an Open Source Library for Creating Tokens: You might not need to learn new coding skills if all you care about is creating tokens for your game or project; after all, most blockchain projects use open source libraries that you make it easy to create tokens via Ethereum smart contracts.

Use a minting service and upload your artwork such as Rarible or open sea

If you want to make your own NFT, there are several options available to do so. You can mint your own NFTs using a service like OpenSea or Rarible by uploading your artwork. Alternatively, you could use a Minting Service like mintbase to create tokens that represent the assets you’re trying to sell in exchange for crypto payments. These are a great way to start creating NFTs with limited technical knowledge

Pinpoint the value proposition of your NFT and set your price.

Before you start selling your NFT, it’s important to think about what value your token brings. What is the unique selling proposition (USP) of your NFT? You can use this to help set a price for it. If you’re struggling with this step, we have some tips below on how to figure out what makes an interesting and valuable asset.

The pricing for tokenized assets is an art form that’s constantly evolving and changing—but there are a few basic things you’ll want to keep in mind:

• Look at past prices of similar assets if they’re available on public markets. This will give you a sense of how much others have charged up until now.

• Create a reserve price (the minimum amount someone will be willing to pay) and use it as leverage against buyers who want discounts or special deals on multiple purchases of assets from you as well as other sellers competing against them; however, don’t go overboard here because no one wants their product devalued by overpricing!

Create a digital display for prospective buyers to preview and learn more about the asset they’re buying

The next step is to create a digital display for prospective buyers to preview and learn more about the asset they’re buying, if possible. You can have this displayed on your website or in the description of your NFT in a marketplace like OpenSea. If not, be sure to clearly explain the purpose of the token and how its value is derived in text format (e.g., via Medium). Prospective buyers should be able to easily learn what they’re purchasing and why it’s valuable before they make their purchase decision.

Conclusion

So there you have it! Now you’re ready to make your first NFT. We hope this guide was helpful and answered some of your questions about the process of creating non-fungible tokens. If not, feel free to reach out at any time with additional questions or comments on Twitter or FaceBook!