In September 2021, a tutorial explained how to create non-fungible tokens (NFTs) in five steps and attempt to sell them for profit. A non-fungible token is a special type of cryptographic token representing something unique and not mutually interchangeable, unlike fungible cryptocurrencies such as Bitcoin.
The Five Steps to Creating an NFT
The first step is choosing the digital work to tokenize. Non-fungible tokens can represent any digital file—paintings, text, music, or video. The purpose of NFTs is to transform digital artworks into “unique” pieces in an era of infinite reproduction.
The second step requires purchasing Ether, the cryptocurrency of the Ethereum network, which hosts the most popular NFT marketplaces. Minting an NFT costs money, so users should have at least $100 in Ether available, though costs vary based on daily operational prices. OpenSea, one of the largest marketplaces, allows free token creation because of its token type but still requires a connected wallet.
Third, select a marketplace such as Mintable, Rarible, or OpenSea. OpenSea was chosen for this guide because it is free and has no content moderation, meaning artists need not be approved to sell. Fourth, after connecting an Ethereum wallet (such as MetaMask) to the chosen platform, create a collection, upload artwork, provide details, and click Create. Fifth, open the newly created item and click the sell button to set the price in Ethereum, choose between fixed price or auction, and determine royalty percentages.
Marketing Your NFT
Creating and listing an NFT is only the beginning. Success requires marketing yourself and making the token appealing to potential buyers within existing communities interested in your work. This is the most demanding part of the process and bears little resemblance to the technical creation itself. The art world—physical or digital—remains selective and unforgiving, unless one is an internet phenomenon or meme character, in which case profiting from the token becomes more plausible.
Frequently asked questions
What blockchain network does this guide focus on?
The guide focuses on Ethereum because it is the most popular network and supported by the major NFT marketplaces.
Is minting an NFT free?
On OpenSea, minting is free because of the token type the platform creates, but other marketplaces and blockchain operations typically require payment in Ether, with costs varying based on daily operational prices.
What happens after creating an NFT?
After creation, the artist must market the NFT to potential buyers within existing communities, as simply waiting for someone to notice the token will not lead to sales.