You can get everything setup in just a few minutes from your phone.In this section I’ll provide step-by-step instructions to set up a crypto wallet, purchase ETH, and connect your wallet to an NFT marketplace. Once you choose a blockchain, you will need a digital wallet that supports that blockchain to store your NFT. To create a wallet, you will need to download the crypto wallet app and provide a username and password. You should also store any private keys and recovery phrases outside of the wallet (offline) for security and backup purposes. After choosing single on Rarible, you’ll end up on the NFT creation screen. The first thing to do is upload the digital file you’re hoping to sell as an NFT, using the Choose File button.

How much does it cost to create an NFT?

To start, click the box with an image icon in it, which will let you upload the file you’ll be selling as an NFT (though, do make sure to take note of the file size and type limitations noted above the selector). It’s also worth noting at this point that our guide will show you how to do things the basic way. Just know that this isn’t meant to be a comprehensive compendium on selling NFTs — it’s just getting you to the path. Hardhat is a development environment to compile, deploy, test, and debug your Ethereum software. It helps developers when building smart contracts and dapps locally before deploying to the live chain.

Step 2: Purchase a small amount of Ethereum

To illustrate the process, we’ll use Rarible as the NFT platform and MetaMask as our payment wallet, but there are many other options – we’ll list some in the questions section at the bottom. However, while the NFT market saw a bit of a dip this year, there are still more and more artists, illustrators and designers making money from selling NFTs. Nonfungible.com reports over $15 billion in primary and secondary sales on the Ethereum blockchain in 2021, up from $67 million just one year prior. So if it seems like an avenue for you, let’s dive into the basics of how to make and sell and NFT. Below we’ll go through the process step by step and look in more detail at NFT marketplaces, NFT crypto and everything else you need to know. The next step is to create a digital wallet where you’ll store your cryptocurrencies and NFTs.

A growing problem that will hopefully be solved in the weeks ahead. Downloading my image from Kapwing and adding it to Rarible to mint as an NFT was about as simple as uploading a YouTube video. Start by clicking the Create button in the top right of the screen on Rarible. From the next screen, select the WalletConnect option if you’re using the Rainbow or Metamask wallets.

Step 11: Connect MetaMask & Alchemy to your project

OpenSea and Rarible make this easy — clicking the Create button in the top left prompts you to connect your wallet. You’ll then be presented with a list of compatible wallets, and choosing yours will prompt you to go through the connection process. Most NFTs are sold on the Ethereum blockchain (we’ll touch on ones that aren’t in the next section), and every transaction on the Ethereum blockchains costs fees that are paid to the miners. These fees are called “gas,” and the amount of gas you need for a transaction (and therefore how much that transaction will cost) can vary significantly. You can technically sell any digital file as an NFT, but if you’re looking to use a marketplace’s easy minting tools, you’re going to be limited to the formats they support. We’ll touch on that a bit more later, but it’s worth keeping in mind that your first NFT should probably be an image, video, or audio clip of some sort.

What’s a blockchain?

If someone actually buys your NFT, you’ll have to pay a commission fee on the NFT sale, plus a transaction fee for transfer of the money from the buyer’s wallet to your own. In our opinion, none of this was hugely clear on Rarible’s website at the time we tried it. You’ll be taken to a screen where you can use either Apple Pay or a debit card to buy ETH. The uniqueness of each NFT enables tokenization of things like art, collectibles, or even real estate, where one specific unique NFT represents some specific unique real world or digital item.

But NFT art can also be treated like any other art and put on display. Each NFT has different properties (non-fungible) and is provably scarce. This is different from tokens such as ETH or other Ethereum based tokens like USDC where every token is identical and has the same properties (‘fungible’). You don’t care which specific dollar bill (or ETH) you have in your wallet, because they are all identical and worth the same. However, you do care which specific NFT you own, because they all have individual properties that distinguish them from others (‘non-fungible’).

If you’re using the Coinbase Wallet app, you can also connect to the marketplace by using the QR code scanner (which you can find to the right of your balance on the main wallet screen). MetaMask’s wallet is one of the wallets that’s widely supported by Ethereum-based applications like OpenSea, Foundation, and others and can be used either as a Chrome / Firefox extension or as an iOS / Android app. Coinbase also has its own wallet that you can use as an extension or an app, and it’s supported by most platforms. You may want to consider Coinbase’s wallet if you’re planning on getting into crypto more broadly, as it has support for blockchains not based on Ethereum, like Bitcoin. If you just have the vague idea that you want to make an NFT because seemingly everyone is doing it, there are a few considerations you may want to take into account. While the platforms that we’ll cover today will let you create NFTs for free, selling them could be a different matter.

1. This may be an image, an audio production (such as a song), or even a short video clip (such as an animated GIF).
2. But don’t worry, we’ll walk you through all the basics that you need to know, plus the steps for creating and minting your own NFT.
3. Also look for screens that feature built-in NFT marketplace and wallet connectivity from an app.
4. This is a device that physically connects to a computer, similar to a hard drive, that is used to store cryptocurrencies offline.
5. You can also use the External Link field to add a URL pointing to, say, your website or Twitter account, and you can use the Description field to give potential buyers a better idea of what your NFT is.

Step 2: Create your app (and API key)

Since the NFT will be available to purchase as soon as you list it, you can also make it only available to a specific buyer using the “More options” dropdown. OpenSea also lets you add text that acts as unlockable content, which the buyer / owner of the NFT will be able to see. You could use this toggle-able field to include something like an invite link to a private Discord, a code to redeem something on an external website, or even just a message thanking them for buying.

There’s a strong momentum of innovation to back up the adoration for NFTs. Creators run the gamut from gamers, artists, celebrities, big brands and more—all who bring refreshing approaches to the digital medium. Submit your art to DeviantArt and receive alerts if and when someone tries to mint it as an unauthorized NFT on a public blockchain.

Solana transactions are tiny, typically less than $0.01, while listing an NFT on the Ethereum blockchain can cost more, depending on the network fees at the time of listing. If you turn it off and are using the Ethereum blockchain, you’ll have to pay a gas fee to mint your NFT at the end of this process — when I was testing, the fee was around $20. Underneath those fields, you can choose a collection for your NFT if you’ve set one up, as well as add properties, levels, or stats that can basically act as metadata. If you’re selling an NFT that could act as a video game character, for instance, this is where you’d put in their information. If you’re selling a piece of art, you could use the properties panel to add information about it, such as the medium, year, etc.

Many other wallets are also supported by these connection options, so it’s worth researching each to see if your preferred wallet is usable. It’s an alienesque term that I don’t like saying aloud, but you can think of it as a digital certificate of authenticity. In real life – classic works of art, antiques, and other historical items are often sold at auctions with a receipt certifying that they are genuine. Digital art is undergoing a renaissance and in this article we’ll cover everything you need to know to start creating and selling your book value of equity per share bvps own art on the blockchain. If that comes as a shock, then it might be time to reconsider your definition of fine art and begin to explore the world of crypto and NFTs. NFTs provide value to creators by being unique, something that cannot be owned by someone else.