HomeTech NewsHow to create and sell an NFT

How to create and sell an NFT

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Since the beginning of 2021, NFTs or intangible digital assets have experienced a real fever of popularity, which recently had, like many other bubbles, its moment of puncture with the collapse in value of many of these digital contents with verifiable attribution of ownership.

Before creating the NFT, you must select the marketplace where it will be sold, create an electronic wallet to manage the transaction and connect both

There have been many who have opted to acquire one, but perhaps not so many who have considered generating their own NFT. For those who have wondered about this possibility, the following tutorial will allow them to enter this peculiar world and, who knows, maybe even achieve some profit.

The first step is to understand what an NFT is: Essentially it is about attribute ownership of digital content to a holder, circumstance universally verifiable in complete safety thanks to Blockchain technology (chain of blocks) of immutable and decentralized registration. This allows trading with the ownership of said intangible asset (an image, a video, a song, an audio file…) called a token that, although it can be copied without deterioration, will only belong to one owner who will be the one who can dispose of it.

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To trade with these tokens there are online markets specialized in NFT that charge commissions for the management of operations. Prices are usually traded in the Ethereum cryptocurrency, which adds an additional cost due to the work of the Blockchain miners in charge of verifying said operations. It will be necessary to decide on which platform the transactions of the NFT that has been created will be carried out (even before creating it) to take into account the associated costs.

Some of these NFT marketplaces are: AtomicHub, OpenSea, Rarible, Solsea… They include their own smart contracts if it is decided to create the NFT in said markets but it is not mandatory to do so. These smart contracts can also be generated externally and subsequently associated with the NFT once the marketplace in which their sale will be managed has been decided.

The NFT has not yet been created as such and there is still another preliminary step: Have a virtual wallet or purse where cryptocurrency operations will be managed associated with the sale of this digital or intangible asset. Coinbase or MetaMask are some of the most popular, and can be used as extensions in browsers such as Chrome or Firefox, as well as being compatible with iOS and Android. Creating the virtual wallet is as simple as downloading the corresponding extension, installing it, adding it to the browser, invoking it in the browser’s menu, pressing the “Create new wallet” option and providing the username and password data. In this sense, all precautions will be few to create secure and robust passwords.

Both Coinbase and MetaMask wallets offer the ability to add a security phrase, made up of twelve random words which will be of vital importance to keep safe since they will be the only way to recover the account in case of uninstalling the browser extension or the browser itself, or if you want to add the digital wallet to another device.

With the wallet created, you will have to connect it to the chosen marketplace to market the NFT. All these platforms have a selector (and even an automatic detector) of compatible wallets, where it will be enough to select the one that is being used.

Now yes, you are ready to proceed to the creation of your own NFT, for which the aforementioned managers are used, Rarible, OpenSea and the like, since they all have the option “Create a new NFT”… or even a collection (limited series) of NFTs with the options “Create a new NFT” or “Create a new Collection”, within which you can, in turn, add newly created NFTs.

Once the NFT has been created (an image, a video, an audio, a Twitter or Instagram post…), it will be generated from the chosen marketplace platform. a page from which you can display and offer your sale. With minor differences, it includes the file itself and/or an external link to it, its name and description, characteristics… in addition to specifying the price (fixed or in auction mode to the highest bidder) and the payment method in the cryptocurrency of choice.

After a short waiting period, the NFT will appear for sale in the marketplace and also in the section corresponding to NFT within the virtual wallet of the user/author, although some wallets only register the same when someone has already bought it.

From here on, the sale will be developed with greater or lesser interest depending on how attractive the NFT is to potential buyers and will also depend on the visibility that the author gives the sale through other means, such as social networks. social.

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