On the back of the cryptocurrency boom, NFTs are currently all the rage. It is a catch all name for something that can have a lot of different uses. I have been dabbling in the #CryptoArt space for a year now and have exhibited and sold a few bits. It is a confusing world so I thought I would knock up a quick guide to making your own NFTs.
Get some Ethereum
The first step is to get some Ethereum. There are lots of ways to do this but I guess the easiest way would be to buy some straight into Metamask. MetaMask is a wallet for keeping your magic internet money in so it makes sense to deposit it straight into there. It is a browser extension so install it in chrome, click the little fox icon and explore it. The next two steps are
- Buy some Ethereum.
- Back up yor wallet.
- Back up yor wallet again.
Did I mention backing up your wallet? That wallet address thing is your identity from now on, so if you lose access to it you lose anything in it. There is no way of resetting you password or anything like that.
Pick a Website
It is worth noting that some are like proper art galleries where you are vetted and can only create if you are accepted by them. These normally require some sort of background check and video introduction. Some are more like copy shops where anyone can mint anything they like.
Mint your art
Once you have found a site you like, you shoudl join it. See the post Buying NFTs for more details on joining a website. The jist in you link your ethereum wallet to the site and use that as your username and password.
Next get your artwork. This must be 100% your own creation. It can be an image, video, song or some other sort of thing. If the image is big (or it is an mp3, etc) then it is good to have a thumbnail. This can be average size as this is what is usually displayed.
Next click the “create” button. Give it a name and a description. Your first choice is to mint a single or a multiple. There is only one Mona Lisa which makes it rare and valuable. If you just want to get your name out though, do a multiple of 50 and give them away. If you are doing several related pieces, then you can give them a Collection Name, otherwise they get assigned to the website you mint them on.
You can give it proerties but they are only really used for things like trading game cards. You can set a royalty. This is how much of future sales of that NFT go back to you. Finally some let you set a “buy now” price. If you don’t do this then it goes into an auction where peole can bid on it.
Finally you hit the “create Item” button and it mints your NFT. For a price. Your wallet will pop up a few message boxes asking you to sign things. One of these will include the fees for the minting. Warning, these can be high. It may cost you $70 to mint something that costs $50. In which case you are going to lose money. It is worth keeping the maths in mind when you come to this stage.
Viewing your NFT
Now you have your NFT, what can you do with it? Well, the most obvious thing to do is look at it. You can view it on your computer screen but you can also access it on your phone. Nft Gallery is an app for iOS and Android that syncs with your Ethereum wallet and lets you view, collect and cast your NFTs.