How to create and sell your first NFT
NFT has made such a strong resonance in the world, that the majority of people are interested in digging into it and understanding it well, it is very crazy to hear or read in the news about a ridiculous picture being sold for just $1.3 million because it is a “rare” NFT as per the description.
If you want to know the mechanism of creating, selling, and profiting from NFT, you are in the right article, where I will explain in simple steps how it works and everything.
Steps to create and sell your first NFT
First Step: Create Content (Masterpiece)
As an important note at the outset, I must point out that there is no storage for NFT tokens. When you buy an image that falls under the NFT category, you will get a link to a file stored in a server somewhere for someone.
Keeping the previous point in mind, the first step is to create artistic and unique content to turn it into an irreplaceable icon, and the options here are plenty for you, such as game artwork, funny famous characters in the world of Memes, or paintings. And in this article, I'm going to assume that we're creating a piece of art. Draw anything you want, it's up to you at this step. The important thing is to make the content fit with some kind of digital image format. It is preferable for this type of content that you save it as PNG as it is the most popular for visual graphics.
Step 2: Create a digital wallet and try to earn some cryptocurrency
This step is also as simple as the previous one. All you have to do is make sure that you have a digital wallet that contains a certain amount of cryptocurrencies that the Blockchain platform requires. These coins are not supposed to be Bitcoin, but any cryptocurrency that has value. The industry requires you to have such a digital wallet to be able to pay any fees associated with offering the NFT for sale, this step is essential and cannot be ignored, not to mention you need this wallet to receive the money when you sell your NFT tokens later.
Step 3: Choose a platform on which to sell your NFT token
After creating your content file, you have to choose a platform to display it on and then be able to sell it and then make a profit, and as simple as this step seems like a description, it is a confusing step in a way, the options available are many, not to mention the difference in the amount (fees) that you require Each of these platforms has different conditions that it imposes, as well as it may come to allocate some of these platforms with a certain type of NFT token, and the very important thing in this step is to provide each platform with a series of different blocks to store your token through and thus it can affect This is about security and usability for many people.
Of all the platforms available, we can focus on the two most popular, the OpenSea platform and the Rarible platform, and how they address the issue of buying and selling NFT tokens, and if none of the previous two options convince you, there is a lot to choose from, and with the beginning of 2022, you will notice the emergence of new platforms almost daily!
Of course, the legal aspect must be mentioned in this step, as some platforms will offer you a contract in which you get the special copyright along with the symbol you want to sell, while others do not. But the matter does not stop here. You have to choose the type of Blockchain on which you want to save the NFT token.
Step 4: Choosing a Blockchain
In addition to the confusing options in choosing platforms, there is another confusing option that you have to do, which is choosing the blockchain that you will use, and I mentioned in the previous step two platforms specifically, and the reason behind this is the fact that it is divided into two parts, the first is their fame and magnitude, and the second is related to this step, both platforms The previous two support more than one type of blockchain. Almost any NFT token exchange will offer you an Ethereum blockchain, and be careful not to make a mistake between the Ethereum blockchain and its associated digital currency, Ether, the latter confusingly called Ethereum.
Returning to the previous two platforms, specifically, OpenSea enables you to use the Ethereum, Polygon, or Klaytn blockchain, in turn, the Rarible platform enables the use of Ethereum and Flow.
Of course, each of these types has its advantages and disadvantages compared to Ethereum, and one of these advantages is the low price compared to Ethereum, because when you deal with Ethereum, you will have to buy so-called “GAS” in each transaction, and we can say that "gas" is a graphic for the conversion process for ease of understanding it is more complex than what I described a while ago.
Step 5: Issue your NFT
If you reach this step, you will have chosen the platform and blockchain and are ready to issue the NFT token for your digital wallet and prepare it for sale.
The process of uploading an NFT token, also called “creating” is very simple compared to the previous steps, platforms like "Rarible" and OpenSea provide similar and easy upload steps, and by following the instructions on the site like this one from OpenSea you will be able to upload the file to the wallet and add other details Like a specific description, and it's not just about the description, you can add a lot of things to make your code attractive, like just adding parts of it as a bit of suspense and curiosity for someone to buy the code and view it all. It's a fun way to attract curious buyers!
Sixth and final step: offer the NFT for sale
After completing all the above steps, it is time to put your NFT up for sale and hopefully make some money from it. On most platforms, doing this is simple and ends with pressing the "Sell" button and waiting for the token to sell and earn money. The image attached above shows how it works on the Rarible platform using a MetaMask digital bag, and in this image, pay attention to the gas costs I mentioned earlier.
You really have limited options for selling, which can be boiled down to three options: custom price, time-limited auction, and open-ended or "open-to-bid" auction as Rarible calls it.
Custom Price: In this option, you set a price for your token and wait for someone to come and buy it at that price, and there is not much difference between platforms in this option except that the OpenSea platform allows you to add a certain time to the price you set.
Time Auction: It is a common option like the previous one, and its mechanism can be explained as follows: A certain period is specified, during which period those interested in your code bid on it, and at the end of that period, the highest bidder who offered the highest price on your file will get.
Unlimited Auction: If we exclude the period from the previous option, we can consider the two options to be the same, here you choose the person who offered the highest price on your NFT and you end the auction.
Thus, the sale process can be summarized as follows: the interested person automatically buys the code and pays any additional costs. You receive your profits from the process minus some costs, and the NFT is exchanged between you and the other person. So, 6 steps are standing between you and your entry into this world and profit, follow them well.
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