What is an NFT (Non-Fungible Tokens)?
NFT stands for non-fungible tokens and is a unique digital asset that exists on a blockchain. While other digital files such as photos, music or videos can be copied endlessly, NFTs are a proof of ownership and an authenticity of a specific file or object.
This is what makes NFTs “non-fungible”, that is, not interchangeable — each and every NFT art is unique and cannot be replaced by something identical.
NFTs work using blockchain technology, a decentralized and secure digital ledger. Most NFTs are based on the Ethereum blockchain, but other types of blockchains such as Solana and Polygon also support these types of digital assets.
Blockchain technology ensures that the ownership of an NFT is traceable and verifiable, creating a form of digital scarcity in an otherwise limitless digital world.
In practice, this means that when you buy an NFT, you own a unique version of the digital object, whether it's art, music, or even a virtual property. While others may be able to view or download a copy, only you can prove that you own the original.
It is this combination of technology and ownership that has made NFTs a revolution in both the art world and the tech industry.
What do you need to create an NFT?
Before you can create your own NFT, you need to have some key components in place. Understanding what is required makes the process easier and more clear, especially if you are new to the field. Here's everything you need to get started.
Digital artwork or content
First of all, you need something to turn into an NFT. This can be digital art, a music file, a video, a game object, or even a unique photograph. In principle, anything that can be digitized can become an NFT, but it is important that the content is your own so that you have the necessary rights.
Take the time to prepare the file in the right format and quality so that it looks professional and is ready for upload.
Cryptocurrency Wallet
To create and sell an NFT, you need a crypto wallet. A crypto wallet acts like a digital account where you can store your cryptocurrency, as well as manage the NFTs you own or create.
One of the most popular options for beginners is MetaMask, which is an easy-to-use and secure wallet that acts as a browser extension.
Setting up a crypto wallet is easy:
- Download and install the wallet (for example, MetaMask) from an official source.
- Create an account by following the instructions.
- Remember to store your recovery phrase in a safe place — this is the only way to access your wallet if you lose access.
Once the wallet is ready, it will be used to pay fees and receive payments for your NFTs.
Cryptocurrency for gas fees
To create an NFT, you need to pay gas fees, which are the cost of using the blockchain network. These fees cover the technical processes required to register the NFT on the blockchain.
The amount of gas fees may vary, depending on your network traffic and which blockchain you are using. Ethereum has historically had high fees, while newer alternatives such as Solana offer lower costs.
To get started, you need to buy cryptocurrency (usually Ethereum) and transfer it to your wallet. Then you will be able to use this to cover the costs associated with the creation of the NFT.
Step-by-step guide to creating an NFT
If you're ready to create your first NFT, this step-by-step guide is all you need to get started. Follow the steps below to navigate through the process, from choosing a platform to publishing your NFT.
Step 1: Choose the Right NFT Platform
The first step is to choose a platform where you can create and sell your NFT. There are several options, but the most popular ones include OpenSea, Rarible, and Mintable.
- OpenSea - The largest NFT marketplace with easy-to-use interface and support for various blockchain networks.
- Rarible — A platform that emphasizes community and allows you to customize your sales.
- Mintable — Ideal for beginners, with features that simplify the creation of NFTs.
Choose a platform that suits your needs and the budget you have available for gas fees.
Step 2: Prepare your NFT
Once the platform is selected, you need to prepare your content. This involves making sure that your digital files are ready for upload.
- Format - Most platforms support formats such as JPEG, PNG, GIF, MP4 and MP3.
- File Size — Check the platform specifications for maximum file size. OpenSea, for example, allows up to 100MB per file.
Make sure your content is of high quality and that it represents your work in the best possible way.
Step 3: Connect the wallet to the platform
Before you can create an NFT, you need to connect your crypto wallet to the platform of your choice. If you're using MetaMask, do this by:
- Click on “Connect Wallet” on the platform.
- Select MetaMask from the list of options.
- Authorize the connection through the wallet.
This step gives the platform access to the cryptocurrency and allows you to pay the necessary fees.
Step 4: Upload and customize your NFT
After the wallet is connected, you can start uploading your content. The process varies somewhat between platforms, but usually involves the following:
- Upload the digital file you want to convert to an NFT.
- Give your NFT a title and a brief description explaining what it is.
- Add properties and metadata, such as colors, theme, or other unique details that make your NFT more valuable.
- Choose the number of copies you want to make — one for uniqueness or multiple for collection.
Step 5: Set the price of your NFT
Once the NFT is uploaded, you need to decide how it will be priced. You can choose between two main options:
- Fixed price - Simple and straightforward — you determine a price, and buyers can buy at that price.
- Auction — Buyers bid on your NFT and it is sold to the highest bid. This can be a good idea for rare or in-demand NFTs.
Tip: Do some research on similar NFTs to set a competitive price.
Step 6: Publish your NFT
Once everything is ready, it's time for the final step: publishing your NFT.
- Confirmation — When you click “Create” or “Publish,” you will be prompted to confirm the action in your crypto wallet. This would also include the gas fee, which must be paid to register the NFT on the blockchain.
- Promotion — After publication, you can share your NFT on social media or in NFT communities to get the attention of potential buyers.
Common mistakes and tips for beginners
Creating and selling NFTs can be exciting, but it's easy to make beginner mistakes that can cost you time and money. Here are some of the most common pitfalls, and tips on how to avoid them.
Avoid high gas fees
Gas fees are the costs you pay to use the blockchain network, and these can vary greatly depending on the traffic on the network. Many beginners make NFTs without checking this, and end up paying unnecessarily high fees.
To avoid this:
- Use times when network traffic is low, such as early morning or late night on weekends.
- Consider alternatives to Ethereum, such as Solana or Polygon, which often have lower gas fees.
Check Marketplace Fees
Different NFT platforms have their own fees for sales and transactions. Some charge a percentage of sales, while others have fixed fees. Many people forget to take this into account, which can eat up your profits.
Hint:
- Carefully read the fee overviews on the platform you are using.
- Choose a platform that fits your budget and expectations, especially if you are a beginner.
Create backups of your wallet
One of the biggest risks with cryptocurrency and NFTs is the security of your wallet. If you lose access to your wallet -- for example, by losing the recovery phrase -- you could lose all your assets forever. Many beginners don't take this seriously until it's too late.
To protect you:
- Write down your recovery phrase in a safe place off the web (not in your email or on a digital device).
- Consider keeping your copy in several places, such as a fireproof safe or with a trusted person.
Bonus: Start small and learn along the way
Instead of plunging into complex or expensive projects, start with a simple NFT to get familiar with the process. That way, you minimize risk and gain valuable experience before making larger investments.
Why create an NFT?
NFTs have created a whole new way of thinking about digital ownership, value creation, and artistic expression. For many, it is an exciting opportunity to combine creativity and technology with economic potential. But why should you consider creating an NFT? Here are three main reasons.
Economic potential
Among other things, the NFT market has grown tremendously in recent years, and some NFTs have been sold for staggering sums. Artists such as Beeple have sold millions of dollars worth of digital works, while lesser-known creators have also earned significant amounts.
Examples like this show that NFTs can provide a new revenue stream, whether you're an established artist or just starting out. Even small collections or individual works can find buyers, especially if they appeal to a specific niche or capture a trend.
Support creativity
NFTs give creators a unique chance to make money directly from their work without the need for intermediaries. For example, artists can sell works directly to collectors and also earn royalties each time their NFT is resold on the market. This makes NFTs a powerful solution to support artistic freedom and financial sustainability.
Furthermore, NFTs can be used to explore new forms of creativity, such as interactive artworks, music experiences, or digital collectibles that connect multiple media.
Long-term value
NFTs are more than just digital products—they are also collectibles. Just like rare coins or works of art, some NFTs can increase in value over time, especially if they have historical or cultural significance.
This makes NFTs interesting investments, both for creators and buyers. If you create an NFT that is valued by collectors, it can retain or even increase its value over time, giving you both financial gain and a place in the history of digital art.
Frequently Asked Questions
What does it cost to create an NFT (Non Fungible Token?
The cost of creating an NFT varies depending on the platform and blockchain network you are using. On Ethereum, gas fees can be high, often between $50 and $200, depending on the network traffic. Alternatives like Solana and Polygon have lower costs.
Can I create an NFT with no experience with cryptocurrency?
Yes, you can create an NFT even without much experience with cryptocurrency. The process is simplified on many platforms such as OpenSea and Rarible, but you need to understand the basics, like how to create a crypto wallet and buy cryptocurrency to pay gas fees.
Do I have to be an artist to create an NFT?
Not necessarily. Although many NFTs are digital works of art, they can also be music files, videos, virtual collectibles, or even tweets. As long as you have unique digital content you want to share or sell, you can create an NFT.
What happens if no one buys my NFT?
If no one buys your NFT, it stays in your wallet and you can choose to promote it further or reduce the price. Keep in mind that NFTs, like other market commodities, need visibility and interest to sell, so it may be worth using social media or community to promote it.
What is NFT marketplace?
If you are looking to buy digital art, you can buy NFTs on various dedicated digital marketplaces. Platforms such as OKX, Binance, OpenSea, Rarible, and Foundation all allow users to buy, sell and trade unique digital assets such as art, music and collectibles.