In the last year, non-Fungible Tokens, world-famous for their acronym NFT, have attracted much attention. The crypto community and most ordinary people have become increasingly interested in these digital tokens.
Given that they were created to make it easier for various artists to monetize and showcase their artwork and performances, it’s no wonder there are a handful of exciting and valuable NFT ideas worldwide.
NFTs are exploding in popularity in recent days. It’sIt’s no secret that people from all over the world are paying a lot of money to own these authentic collectible cryptocurrency assets. In addition to existing NFTs, what interests many people is creating their own NFTs.
But before we give you a simple guide on how to do it, for those who have just stepped into the world of cryptos, let’s provide a brief explanation of what NFT is.
NFTs Explained By An Experienced Crypto Professional
NFT is known to be an acronym for the “Non-Fungible Token” that refers to the non-interchangeable unit of data. Non-Fungible Tokens are stored on a Blockchain technology that represents a digital ledger of impossible and difficult transactions to hack, change or cheat.
There are numerous units of NFTs these days. Primarily, these data units were photos, audio, and video. However, there are GIFs, tweets, gaming skins, memes, or any other digital asset. NFTs can even be physical assets such as real estate, for instance.
Each Token is known as “uniquely identifiable” and considerably different from other cryptocurrencies such as Bitcoin. The year 2021 was essential for the development of Non-Fungible tokens since its sales hit an incredible amount of $2.6 billion only in the first half of the year.
How Can You Create Your NFT?
If you have been sufficiently informed about what NFT is, what it is for and why it is so popular, we assume that you are also interested in how you can make your own unique NFT.
We have prepared one step-by-step guide that will surely be of great help to you:
- Determine what type of digital asset you’d like to turn into an NFT. It can be anything from audio files to GIFs. Remember that the rarity is what gives value to it.
- Choose your Blockchain wisely once you’ve selected your authentic digital asset. In order to start minting your NFT, you first need to determine a blockchain technology for it.
- Set up your digital wallet in order to create your Non-Fungible Token. In order to fund your investments, you’ll need to possess some cryptos first. This digital wallet will provide you with secure access to your digital assets.
- Pick your NFT marketplace once you have your digital wallet and some cryptocurrency on it. Make sure you do profound research on the NFT marketplace in order to find a perfect platform for you.
- Upload your file to the chosen NFT’sNFT’s marketplace platform. The process of uploading it will turn your digital file into a Non-Fungible Token.
- Start selling by setting up the sales process. It’sIt’s crucial that you decide how you will monetize your unique Non-Fungible Token. You could sell your NFT at a fixed price, timed auction, or start at an absolute auction.