How to Create an NFT: An easy entry into Web3
Although the first NFT was created in 2014, it’s only been recently that NFTs exploded in popularity. We’ve come a long way from the first NFT being sold for $4! These days, NFTs of kitties and selfies of an Indonesian college student sell for millions of dollars.
Learning how to make NFTs helps you access this crazy world and more. This Web3 skill is for more than people who want to make money selling images based on clip art. That’s because you can make a career out of NFT development—complete with salary and benefits not tied to the whims of the NFT market. NFT developers are in high demand and get paid about $80k - $200k per year.
Ready to get started? This guide will take you through the basics of how to create an NFT.
So, first, what are NFTs?
NFTs are short for non-fungible tokens. I know—doesn’t make things easier, does it? So let’s break it down. “Non-fungible” means that the asset is unique and thus cannot be exchanged like you’d exchange a $100 bill or break it into 5 $20s. Each NFT has individual properties and characteristics that differentiate it from other NFTs. A token is a digital asset deployed on the blockchain, whose ownership can be readily tracked and verified.
Anything you own can be represented through a token on the blockchain—from your favorite pair of sneakers to a gif you created. Smart contracts (another Web3 technology built on blockchain) verify that you truly own your NFT and allow you to sell or trade that ownership for ETH.
Let’s see how you can make your own NFT.
How to create an NFT: A Beginner’s Guide
You might be surprised that creating a basic NFT involves little to no technical knowledge. Of course, if you want to integrate your NFTs into games or have complicated restrictions on it, you’ll need more advanced skills.
However, for your first NFT, let’s choose something simple. Let’s get started on how to create an NFT.
(Note: The steps might vary depending on which platform you choose, but the general concept is the same.)
1. Create NFT art
First, you need to decide which digital asset you want your NFT to represent. For example, do you want to make an art NFT or sell spots in a membership program? Keep in mind that NFTs have evolved beyond just static images. You can also create an NFT out of song recordings or videos and host it permanently on the blockchain.
Once you decide, create your NFT art or digital asset.
2. Understand the prerequisites to mint an NFT
Once you have your digital asset decided, it’s time to mint it. Creating an NFT involves a process known as minting, aka deploying your image or video onto the blockchain. To store information or do any transaction on the blockchain, you need cryptocurrency. Therefore, to mint NFTs on the Ethereum blockchain, you need some ETH and a platform that allows you to access the blockchain.
To summarize, you need three things to mint an NFT: a crypto wallet, some ETH, and an NFT marketplace. Of course, you can also choose to go the smart contract route instead of a marketplace and use a website as the frontend to mint NFTs, but that’s overkill for your first NFT.
Let’s first set up your crypto wallet.
3. Setting up your crypto wallet
Your crypto wallet is essentially where your NFTs and other cryptocurrencies will get stored. While selecting a crypto wallet, it's important to consider compatibility, security, and ease of use.
In case you don’t already have a crypto wallet, we recommend using MetaMask. In our experience, it’s easy to use and stable. So download Metamask and set up your account. Make sure to store your password safely!
Once your crypto wallet is set up, it’s time to transfer some ETH to it. The exact amount depends on the gas fees of the network, so make sure you check that first.
4. Transferring ETH to your crypto wallet
As Ethereum is one of the most popular blockchains, you can easily buy its token ETH on any major exchange. To keep things simple, choose an exchange compatible with your local currency. The most popular ones include Coinbase, Binance, and OKX.
Buying and selling crypto requires you to register for an account on one of these exchanges and verify your personal details such as your name and identity. This is known as “KYC,” short for Know Your Customer, which is a part of a global initiative to prevent money laundering.
Once you have an account, you can then navigate to the “Buy Crypto” option and purchase ETH directly. In case you own any other cryptocurrency, you can also use the trading terminal to trade it for ETH.
Once you have ETH in your account, choose the “Withdraw” option and enter your crypto wallet address. Make sure to choose the right network while withdrawing your crypto. Click confirm and your crypto wallet should now be funded!
5. Using an NFT marketplace to mint your NFT
Most marketplaces have intuitive and straightforward steps that you can follow to mint your first NFT. For this example, we’ll use OpenSea but it’s pretty similar across platforms like SuperRare, LooksRare, and other NFT trading platforms.
- Go to Opensea.io and connect your MetaMask wallet by clicking on the wallet symbol on the right hand corner.
- Once connected, click on the “Create” button. You’ll be asked to sign a transaction with your wallet to see the next screen.
- Input details such as your NFT’s image, name, description, and so forth.
- When you’re finished, click “Create.” Once you pay the gas fees, that’s it!
Congratulations! You created an NFT! You can see your newly minted NFT in a collection on your profile.
Diving deep into NFTs
Note that the NFT we made is pretty basic, and you can’t do much with it unless you develop additional functionality via smart contracts. That’s one skill that can kickstart your Web3 career.
Why is it important to thoroughly learn these skills? Not knowing what you’re doing can cost you or your employer thousands or even millions of dollars. For example, the owner of a Bored Ape NFT accidentally sold the digital art for 1/100th of the intended price, losing out on nearly $290,000. On a larger scale, one finance company lost $16 million to a hacker who exploited vulnerabilities in their smart contracts.
It literally pays, then, to learn these Web3 skills right.
You might be interested in making NFTs on the side—but did you know that NFT governance is a hugely in-demand skil?
We worked with Web3 pioneers to design our on-demand course that teaches the most sought-after skills needed for Web3 roles such as blockchain developer (including smart contracts, working with NFTs, and more). With BloomTech’s new Web3 Development course, software developers can up level their career—and their salary—in the innovative, high-paying field of Web3.