If you ask any modern-day trader about top trading options available in the market, Non- Fungible Tokens (NFTs) would certainly make it on the list. The popularity and advancement in blockchain have opened gates for NFTs which are now the most revered offerings based on the technology.
NFTs provide the buyer with proof of ownership of a digital item and preserve its ownership for future transactions through digital signatures. As a result, an artist may sell their work digitally to a worldwide audience and make a big profit and manage royalties.
With NFT sales growing 55 percent from 2020, from USD 250 million to USD 389 million, Non-Fungible Tokens (NFTs) have become one of the hottest blockchain trends of 2021, according to CoinMarketCap.
If you are planning to create your own NFTs, and want to know how to create NFT token, you must learn from the best in the business.
CryptoPunks, for example, is one of the oldest NFT platforms that has thousands of NFTs listed on it.
The platform is as old as it gets in the realm of NFTs, which means it’s been there for over four years. When the initiative began in 2017, there were 10,000 punks, all of whom were procedurally created and were claimed for free.
In the intervening years, a tiny but dedicated group has been swapping these photos, at least until a few months ago. As a result of this, Silicon Valley CEOs, renowned venture capitalists, well-known YouTubers, poker stars, and big business figures were drawn into the fight.
In today’s market, the cheapest punk will set you back approximately $30,000 in Ethereum cryptocurrency, while the rarest may be valued just shy of $10 million in the cryptocurrency market today.
1. Select your NFT Artwork: The first thing you have to do is to pick the artwork. Non-fungible tokens can represent any digital file. You can make an NFT of a digital painting, a text, a piece of music, a video. Literally, anything that can be reproduced as a multimedia file. After all, the NFT game is all about turning digital artwork into “unique” pieces in the age of their infinite reproduction.
2. Be Ready with some Ether: For the sake of simplicity, let’s assume that you’re going to utilize Ethereum to create NFTs. That’s the most popular, and it’s supported by the most significant NFT markets. Creating an NFT might be expensive. Therefore, you will need an Ethereum wallet with some Ether (the Ethereum-based cryptocurrency) in it to use the service. For this purpose, “MetaMask” is one of the simplest wallet apps to use. To build an NFT, you must pay a fee, and the price is very variable.
3. Select Your Marketplace to Trade: As soon as you’ve got everything in place, you’ll need to decide on a marketplace where you’ll feature your NFTs. Mintable, Rarible, and OpenSea are among the most popular NFT marketplaces. Because it’s free to join and there’s no moderation on what you may post, we’ll go with the last option. To sell on the site, you don’t have to be approved as an artist. It also implies that there are a lot of digital trinkets on the market that nobody is going to buy.
4. Create Your NFT Token: Once you’ve connected your ETH wallet to the NFT Marketplace, you can create your collection and you can save your work. Finally, the actual minting of a new NFT may begin. Each time you want to create an NFT, create a new item by uploading your artwork and provide all the details you are asked for. Complete this process click the “Create” button and congratulations! You have just produced your own NFT. But The process actually doesn’t stop here.
5. Accept or reject bids: The ultimate aim of NFT creation is wealth creation. Hence bidding process is of utmost importance for the NFT Owners. Once the auction closes, the seller is informed about the highest bid. If the seller is not happy with the current highest bid, he can refuse it and can continue with the auction process.
NFTs definitely offer a great opportunity for wealth creation and appreciation. If done under expert guidance, who knows you may end up owning a digital Mona Lisa of the future.
If you are planning to build your NFT, and want to know how to create a non fungible token, Antier Solutions can help. We are a team of seasoned blockchain engineers and subject matter experts who work together to not only offer quality development solutions but also guide you on how to create NFT token. We leverage our experience working with big brands to create an NFT, to help you launch your non-fungible token. We offer comprehensive services – from token development and launch to multi-channel marketing of the token.