By now you’ve heard of NFTs. They have taken the crypto, art, and finance worlds by storm. NFTs are explained deeper in our previous blog post. Now that you’re sold on NFTs, you’d love to make your own. But how? You don’t know anything about crypto, programming, or the blockchain. We’ll give you 6 very simple steps that will lead you to minting your own NFTs!
1 – Get a crypto exchange account.
You’ll need to pay for these pesky gas fees somehow when you mint. The most popular exchanges in the US are Gemini and Coinbase. If you don’t like these you can find other exchanges that provide you access to buying (and selling) Ether.
2 – Get a crypto wallet.
Specifically you’ll need a ‘self-custody’ wallet which allows you to move your crypto from platform to platform more easily. While in step 1, you opened up an account on an exchange, all of the crypto you purchased does go into a wallet. However this wallet is a ‘hosted wallet’ where a third party, most likely the exchange, keeps your crypto for you. No need for keys or for fear of losing a USB stick.
The self-custody wallet, like Metamask or Coinbase Wallet, gives you full control over your crypto. (Metamask is the most popular wallet on the most popular exchange, OpenSea). However, if you lose your password or are hacked, there’s typically no recourse. The self custody wallet gives you more flexibility with your crypto, so along with buying NFTs you can also yield farm, stake, lend, borrow, and more, (but more on this later).
3 – Buy Ether.
You can buy Ether directly from your wallet or via the exchange where the transaction fees will be much lower. If you buy on the exchange, you have to then send your ETH to your crypto wallet (Metamask) or if you buy through your wallet, the ETH is already in there! When you do send the funds to your wallet, make sure you copy your address using the icon with two squares. If you copy the address wrong, there is no undoing the transaction, so make sure you are sending your ETH to yourself and not to someone else!
4 – Connect your Wallet to a platform (OpenSea for example).
Great, you now have a wallet with some ETH in it. You now need to connect your wallet to the NFT platform account. If you simply click on your profile link you should see an option to connect your wallet to it. Connect it, verify it, and you should be ready to go. There are a variety of Chrome plugins that can help you do this. If you are using another browser it should also be pretty straightforward unless you are using Internet Explorer 6. (Please no!)
5 – Mint your NFT.
Look for a “create” button for the platform you are using. Upload your NFT in the proper format and name it. Hit “create” and now your NFT is in the marketplace! Make sure that you have some ETH in your wallet because this is where the gas fees come in. At some point in the future, when you become really advanced you can mint for reduced fees on side chains, but for now, stick to the main Ethereum blockchain as the additional resources and knowledge to do so might not be worth it.
6 – Sell your NFT.
On your NFT page you’ll see the various options for selling your NFT from a Fixed price to auction. You’ll need to choose the option that is best for you and then initialize your wallet, confirm your price, and wait for your NFT riches to come flowing in! Depending on how you’ve structured your smart contract, sometimes you might just want a transaction to occur rather than wait for the optimal amount. (And keep in mind that the price published is in ETH which is relatively volatile).
Of course, the six steps are just to get your NFT up and out the door, the bigger challenges include what your NFT is, creating smart contracts that are innovative, and most importantly building the community that will support your NFT. We will address all of these points in future posts, but until then enjoy your small piece of the metaverse!