How to create NFT?  See step by step to start from scratch – Cryptocurrencies – Estadão E-Investidor – The main news of the financial market

How to create NFT? See step by step to start from scratch – Cryptocurrencies – Estadão E-Investidor – The main news of the financial market

  • No one needs to be a tech expert to make a testimonial non-consumable, as there are platforms that specialize in creating and trading this asset.
  • It is possible to take advantage of buying and selling NFT. However, as in the traditional art market, the amounts paid are subjective, which makes the sector volatile and high risk.

You non-consumable tokens (NFT) they are growing in popularity, with celebrities investing a lot of money in these unique collectible digital assets. O profit potential is pushing more people to learn how to create NFT in hopes of taking advantage of the current madness.

“In the past, the creation of NFT was at the discretion of developers, but today we have companies specializing in making this type of registration,” says Bernardo Srur, director of the Brazilian Association of Cryptoeconomics (ABCripto). Those interested in minting (or “lying”, as the process is also called) can turn to national and international websites.

“All you have to do is bring your assets and enter values,” says the expert. All of the the work is done automatically by the platformswhich, in addition to the registration, custody and assignment, may be responsible for the curing, marketing and distribution of the NFTs, leaving the asset owner only to collect the result of the transaction.

NFT can be traded more quickly and easily than a normal work of art.  (Source: Shutterstock)
NFT can be traded more quickly and easily than a normal work of art. (Source: Shutterstock)

Before starting the process of creating an NFT, the interested party must be the owner of what will be minted and know that tanything can be converted NFT. “The concept of a non-fungible token is basically related to the registration of an asset in the blockchain,” Srur says. That way, any asset that only one owner has can become a digital asset.

In theory, even property deeds are “tokenized”, but there is still no legislation in this regard. The most common on the market are digital files, such as artwork, images, music, videos, GIFs, game items, and memes.

See below step by step how to create NFT from scratch.

1. Make a digital wallet

The first step in creating NFT is to have one location to store the asset, that is, a digital wallet (or wallet). Many companies offer this service, with Metamask being the most used by non-consumable listing owners.

The cryptographic portfolio supports ethereum, the main blockchain used for registration.

2. Deposit an amount of cryptocurrency

(Source: Shutterstock)
The fee for creating NFT is variable. (Source: Shutterstock)

For coinage, it is charge a fee known as ” gas “. The amount paid to create the NFT varies depending on the availability of the miners at the time of the transaction, the platform chosen and the characteristics of the asset to be created. The average cost is usually between $ 10 and $ 300.

3. Connect your digital wallet to a marketplace

Connecting the digital portfolio to a market is essential for both collection of fees as for the custody of the asset to be created. The best known NFT market in the world is OpenSea, but there are several companies that offer services, including Brazil.

NFTrend is considered the first such platform in the country.

4. Upload the file

Before submitting the file, you can choose create a collection, which allows you to store multiple NFTs together. This can increase interest on each item, make it easier to negotiate, and even generate a joint sale. If you only want to coin a token, there is no problem, just send a single file.

5. Define the features and price of NFT

Everything is programmable in NFT, though not all platforms offer all the options when creating an NFT. Payments may be one-off payments or the owner may receive compensation for each asset transaction. “This form of registration for an artist is very positive, because it can lead to the payment of fees and royalties for the work,” says the director.

The NFT may be single or have limited copies. In addition, a price must be set for the asset. O the value is totally subjective and may vary depending on scarcity, artist, work, format, timing, and interest in the collection, making the asset volatile and high-risk, as well as the traditional art market.

6. Finish the process

After confirming all the information, only validate the process to complete the creation of the NFT. At this time, the minting fee is charged. Once created, the testimonial can be traded on specialized platforms or sent to another digital wallet.

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