A GIF was recently sold for $ 60,000 at an online auction. If this shocks you, you might be flabbergasted to learn that the very first tweet from Twitter founder Jack Dorsey sold for $ 2.9 million. Interestingly, the tweet, read, âjust setting up my twtâ.
Now, maybe it’s time to reconsider the definition of “fine art” and explore the world of non-fungible tokens (NFTs). An NFT is a Blockchain-based tokenization of a collector’s item or work of art. It is transparent, making it easy for everyone to see the âtoken ownerâ.
It should be noted that these digital works of art can be modified without losing any information, in complete transparency on its transactions. Like any other form of cryptocurrency, NFTs can be bought and sold. This tutorial will walk you through the step-by-step process for everything you need to create your own NFTs in a Collection on NFTically, an NFT Marketplace.
Step 1: Configure MetaMask
The first step in creating your own NFT is to set up an online wallet that can hold your NFTs. Cryptoassets are stored in what is called a ‘wallet’, which you can access using your ‘private key’ – the crypto equivalent of a super secure password – without which the owner of the crypto cannot. cannot access the currency.
This wallet allows you to pay Blockchain gas fees, more on that later. For now, go to metamask.io where you can download the app or add the chrome extension. Once Metamask is installed, you can simply continue by linking it to NFTically.
Step 2: Create your store
After linking your wallet to Metamask, you will now be able to create your own NFTs. Go to nftically.com and click on the “Create Store” button on the menu bar. You will now be taken to your dashboard, where you will need to configure the store.
Step 3: List on the market
Create a name for your NFT collection, then click the “Add New Item” button. Once you’ve named your store, hit the ‘Create Store’ tab at the bottom right and you’re done. Your store is launched. Then you will be taken to your store’s settings page, where you can customize it to your preferences. You can also visit your store by clicking on the highlighted link.
Step 4: Create your collection
When you click on the highlighted link to your blog, you will be redirected to your NFT store and can start building your creation by clicking on the “Create a collection” tab.
After that, you will be asked to upload an image, video or sound that might be listed as NFT. You can provide the name, as well as a detailed description of your art. Now you will be asked to âSet the priceâ and then âPublish your adâ.
Step 5: Sell your NFT
Selling your first NFT requires a Blockchain transaction, for this you will be required to pay gasoline fees. Send aether to your metamask and you’re good to go. You will only need to pay these fees the first time you create an NFT collection. âGas feesâ are the transaction fees that users pay to insert their smart contracts into the blockchain.
The value of the fee changes depending on the demand rate for that specific cryptocurrency in the market. Now that your digital asset is listed in the market, anyone can find it and buy it in the market. You have finished!