How to Create an NFT for Fun and Profit Possibly
Everyone seems to be making money with NFT or non-fungible tokens, those digital artworks that have been dubbed the next investment craze . That is, everyone except you. It’s the same feeling you experienced when they realized that the shares of GameStop – this thing, and have missed the boat sailing to an easy fortune. Bitcoin too – if only a decade ago we kept our silly mining utilities on our PCs 24/7.
But the latest enrichment craze has already arrived. Now, you too can own a digital asset that is legitimized by the blockchain: wild and wacky items like a column from The New York Times ($ 584,000), 81 images of Deadmau5 ($ 50,000), oryou know who ($ 501,000). (Yes, someone paid seven Tesla for an “authentic” version of this cake cat, whatever “authentic” means.)
There are many problems with NFTs: what do you actually get for your money, what can you do with this item, what does it mean when a million duplicates of your original also exist in the real world, what does it mean when the source of your expensive NFT (for example, a popular site with digital trading cards) no longer exist in ten years, copyright issues that arise when someone creates NFT another’s ideas or work, environmental problems associated with energy consumption on the game in blokcheyne … the list continue.
If you don’t care and just want to learn how to make your own NFT to get rich quick or have some fun, you might be surprised to find how easy it is. And, spoiler, it’s not free – at least if your NFT is on sale.
Listing NFTs Is As Easy As It Is On eBay
I’ll start off with an assumption: you want to create your NFT on the Ethereum (ETH) network that most people are currently playing. As a result, you will have to pay for gas – an amount that depends on network congestion and is designed to cover the costs of your computing on the blockchain. In other words, you are prohibited from using a script to run 100,000 NFTs in the hopes that you can sell a small handful to make some money. Rinse, rinse, repeat; you’d pay a fortune for this scenario – unless you switch to a service like OpenSea .
“The new Collection Manager allows creators to create NFTs without any upfront gasoline costs, as the NFT is not passed down the chain until the first purchase or transfer is made.
We call this lazy chasing. It decouples the release of your NFTs from the metadata. “
Let’s go back to creation. To simplify the task , we will create the NFT on Mintable , one of the “common nouns” shopping sites NFT , which makes it easy to start your own object blokcheyn without paying for gas to start the listing. Start by creating a free account with the service, which requires you to enter the verification code sent to your email address. Light.
Next, create a MetaMask wallet to use with the service that will host your digital currencies. You will start by installing the browser extension :
To set up a new MetaMask wallet, you need to enter a password. In response, you will receive a “source phrase”, which is a list of 12 random words. Write it down somewhere; this is your backup code that will allow you to log into your wallet in case you ever lose the specified password. Then you will need to confirm the specified original phrase in order to continue:
Once you’ve done that, your wallet is ready to go:
Return to Mintable and click on “Mint an item”. You will be prompted to choose if an NFT already exists in your wallet (it doesn’t) or if you are creating a new one (you are). Mintable will use gasless NFT by default – remember that you can download whatever you want here and it won’t go into the blockchain (and won’t charge any commission) until it’s sold or transferred. If you want to do it the old fashioned way, move the slider to advanced mode, where you can choose the transaction model instead. (Hello advance payments.)
You will not need to connect your MetaMask wallet to start populating data for gasless NFT. But you can also save the step and click on the big purple “Connect Wallet” link in the upper right corner of the site. After a few clicks, you will be configured.
As far as the NFT is concerned, your screen will look like this:
Fill in the details, add a file, add any preview images you want to use, add a description, and choose if you want the copyright to transfer after sale. You can then set a fixed price for the item, set up an auction, or both. That’s all; it is as easy to list as an item on eBay.
Making (or losing) money costs money
Regardless of which platform you use, make sure you do your homework and fully understand what you are getting yourself into and how much you will be charged to sell an NFT . This includes gas charges , any transaction fees the service charges as part of operating costs (like eBay), and how future secondary sales fees work. What are you getting? What does the service give? You may well end up losing money even if you make a successful sale, which in itself will be difficult enough.
But hey, that’s the nature of the game. Right now it’s a hot market, if you can get the right products, but it can be just as strong reverse impact on the people involved in the hype cycle in which there is little to show. Good luck seeker of destiny .