Last Updated: December 28, 2021

How to create an NFT

NFTs are catching many people’s attention. There are creators with huge portfolios for thousands of dollars. You don’t have to be one of these people to create an NFT, it's something anyone can do. To understand how to create an NFT we first have to understand what a blockchain and smart contract are.

A blockchain is much like a database; it stores data and groups it in a chain-like pattern. The blockchain an NFT is on also dictates the currency used. For example, NFTs stored on Ethereum’s blockchain will trade in Ethereum. Smart contracts are programs within a blockchain that perform automated functions. Each smart contract is set to do a task when other parameters are met. Smart contracts can also be linked together to complete complex tasks. Think go this like buying a home. Once the deposit and contract are received the deed of the house is sent to the buyer. Smart Contracts work in this way as well.

Once you have chosen a blockchain, the next step is to create your NFT. This can be a piece of art, picture, or anything digitalized. Remember an NFT must be unique. The scarcity, intrinsic value, and popularity will determine how much you can sell your NFT for so keep that in mind in your creation process. For more information on the valuation of NFTs check out this blog.

The next step in creating an NFT is getting it to market. To do this you must first choose an online marketplace. Some popular ones include Mintable, Rarible, and OpenSea. To finish preparing to post your NFT to market you must create a web 3 wallet. A web 3 wallet will allow you to receive and make payments in the currency used on the blockchain chosen in step 1.