This is a question I get often.
If you don’t have extensive knowledge or you’re not an expert in how NFTs work, or how to create them then you’re in good hands because today I’m gonna go over everything that you need to know to start making a side income with your own NFTs.
Unfortunately, I’ve seen a ton of videos or tutorials online that are incredibly misinformed and some even flat-out wrong, But today I’m going to detail a step-by-step blueprint on how do I make a NFT and sell it.
Probably you have seen or heard of other artists around the world making literally thousands of dollars selling their own NFTs. Whether you create art, music, or videos you can get your piece of the NFT Pie!
Ground Work Before Making an NFT
Now before we get into the details. Let me clue you in on three things to be aware of at the onset.
- You will see a lot of these NFT marketplace websites promote the allusion that it is free for you to create and sell your NFTs. Unfortunately, that is just not reality and it creates a lot of confusion around the question, of how much does it cost to make an NFT. If you have spent any time in the NFT space you no doubt have heard of Gas fees. So what is crypto gas? In simplified terms, it is merely a transaction fee. For example, when you connect your NFT and wallet to the Ethereum blockchain you will be charged a fee. This fee covers the cost of computer processing power that is required to process your transactions. This is usually a one-time fee of between $50 – $300.
- Services like open sea will charge you 2.5% every time you sell your NFT. You can see more on the costs of minting an NFT here.
- The Open Sea platform allows you to set a royalty commission of up to 10%. This royalty is then paid to you every time someone sells your NFT!
I hope that the information I share today will help you to understand how much does it cost to make an NFT. My goal is to help you fulfill your dream and turn your passion into income! Now let’s Get into the details!
Step 1 – Selecting a NFT Marketplace
The first step to creating your NFT is selecting a marketplace. Now there are a lot of different NFT marketplaces available. However, the one I highly recommend is called Open Sea.
At the time of this publishing, Open Sea is probably the most popular NFT exchange. There are hundreds of thousands of users on the Open Sea both creating and selling NFTs. In my opinion, Open Sea is also the easiest platform to configure and create your NFT.
Step 2 – Set Up a Crypto Wallet
Step two is to set up a crypto wallet. A crypto wallet is simply where you can hold your crypto assets like Ethereum, or Bitcoin for example. In addition, this is where your profits will be sent every time you make a sale!
There are numerous online crypto wallet options out there. Some are reputable others… well let’s just say I would not put my money there! The point is to make sure that the company behind your wallet has a solid reputation. Beyond that, they should be regulated by a reputable government body.
When it comes to crypto wallets, I recommend a two-step approach.
- First, have an online wallet with Coinbase or Binance. These are the online wallets that I use and the ones that I recommend.
- Second, keep the coins you are not using to trade or planning to use for purchases in an offline hardware wallet such as Nano Ledger.
You can create your online wallet simply by going to your phone and downloading the Coinbase app from the app store. Conversely, you can open your browser on your PC and install their extension in your browser.
Then all you need to do is simply set up an account. You will need to be prepared to create and securely store your key. Without your key, you will not be able to access your wallet. Further, if you lose your key your wallet provider will not be able to help you. Your key is yours and yours alone. Store it in a secure place but make sure you do not lose it.
Step 3 – Connect Your Crypto Wallet to Open Sea
Now that you have a wallet you will need to connect your wallet to the Open Sea Platform.
Once you have logged in to your account on open Sea simply click the profile icon from the home page. In your profile you will find the option to connect your wallet. There you can select Coinbase for example or whatever wallet you have chosen. Then you will be given the option to input your wallet key to connect your Conebase wallet.
Another option is to connect to Open Sea through your Coinbase login. Either way works so the point is to simply get the accounts connected.
Step 4 – Design Your NFT
Now is when the fun starts. You now are ready to design your NFT. You must ask yourself, “what message do I want my NFT to send.” If you have music, or physical art that you want to sell this is where you prepare to present them as NFTs.
I know some people who have had a great idea but did not have the time to create it themselves. In that case, you can simply hire someone on Fiverr or upwork to do the creating for you.
Regardless this is the step where you get to use your creativity and showcase your talent! Really the sky is the limit! Any of your creativity that can be digitized can be sold as an NFT! The most popular NFT right now is art but you can create an NFT out of your videos, your music, or even your tweets!
Step 5 – List your NFT On the Marketplace
Now that you have digitized your creation it’s time to upload the file onto the Open Sea platform!
This step is quite simple, simply go to your account page and then press “my collections” you will then be directed to a button that says “create a collection” When you click create a collection you will be asked to upload a logo image, a featured image, and a banner image. You will name your NFT and provide other descriptive information that will help optimize your listing for the search engines.
During the listing process, you will have the opportunity to set “creator earnings.” These are the royalties that we talked about earlier that allow you to earn commissions when someone else sells your NFT!
In the final steps of the upload process, you will select the blockchain that will support your NFT and set your sale price.
You are now ready to press the sell button!
Congratulations! Now your NFT is listed for sale
Final Wrap
Of course, now that you are an NFT creator you will need to decide on a marketing plan to attract attention to your newly minted NFT. There are numerous ways to market your NFT but we will have to cover those in detail in a later publication.
Let us know in the comments below where your NFT is listed. I’m interested to see your creations!
Good luck with your NFT creations!
