Creating an NFT in OpenSea is intuitive and easy. You just need to decide what the purpose and genre of your collection is, set up a crypto wallet, choose a blockchain and list your NFTs. In this article, we will go through the steps one by one and explain exactly what you need to do to create your first NFT.
Who can create an NFT?
Anyone can create an NFT. Your NFT can be as simple as the media itself, but it can also represent something more. Think of it this way: your NFT can simply be a piece of art, or it can be a piece of music represented by a GIF or photograph. In the last example, the NFT is the combination of the representation and the digital item it represents.
What do I need to create an NFT?
In addition to the NFT itself, you will need a crypto wallet to create and mint your NFT. “Minting” an NFT is the process of writing a digital item onto the blockchain. This establishes your immutable record of authenticity and ownership.
Crypto wallets are a fundamental web3 tool. Your wallet acts as a private key that allows you to interact with decentralized applications, buy NFTs, and browse the web3 universe. Each blockchain has specific wallets that you can use to transact on them. For example, MetaMask is a wallet used to interface with the Ethereum blockchain and Phantom is a wallet used to interface with the Solana blockchain. OpenSea supports a wide variety of wallets.
Next, choose a blockchain on which to mint your NFT. OpenSea currently supports the Ethereum, Polygon, Klaytn, Arbitrum, Optimism, Avalanche, BNB Chain, and Solana blockchains, and each of these blockchains have different gas fees associated with transactions on their networks.
Then you can create your collection. This is the fun part! Decide what your NFT collection is all about. Is it a piece of art, a collection of profile photos, sports memorabilia, a group membership, or something else entirely? Once you decide, create your collection by naming it something unique that represents your work and describing it. You will also be asked to choose a category and provide the relevant social media links.
Once your crypto wallet is set up, you’ve chosen a blockchain, and your collection has been built, you’re ready to mint your NFTs!
Does it cost money to create an NFT?
Sometimes. Depending on the blockchain, creators will need enough cryptocurrency in their wallets to cover the gas fees for the transaction. But, on Ethereum and Polygon, OpenSea offers something called “lazy minting,” a process by which creators can avoid paying gas fees to mint NFTs.
Lazy minting and the OpenSea collection manager allow creators to make NFTs without the need to pay any gas fees upfront. This process works because the item is not transferred up the chain until the first purchase or transfer is made from the creator to the first collector. The collections are also free and instant.
What are the step by step instructions to create an NFT on OpenSea?
OpenSea makes it simple and fast to create an NFT.
First, you will need to create a collection.
Once you’ve done that, click the Build tab in the top right corner of the OpenSea website.
Once you’ve clicked, you’ll be taken to the NFT item creation page, where you can upload your NFT file and give it a name and description. You can also add an external link to your website or social media accounts.
You can then add the NFT to an existing collection or add Properties (textual features displayed as rectangles), Levels (numeric features displayed as a progress bar), and Statistics (numeric features displayed as numbers). You also have the opportunity to add unlockable content, which is content that can only be revealed by the owner of the item. We will ask you to activate a switch here if your NFT contains explicit or sensitive content.
Finally, we will ask you to list the supply, which is the number of items that will be created and the blockchain on which you will create the NFT. The default is Ethereum, but you can also choose to mint in Polygon. Once you’re done, just click Create.
Once complete, you will see a pop-up indicating that your NFT has been created and allows you to share it via a link, Facebook, Twitter or Telegram.
Why should I create my NFTs using OpenSea?
OpenSea offers creators a smooth, simple and easy-to-use creation process that allows them to create collections that help them stand out. And speaking of standing out, we think OpenSea is the best place for creators to post NFTs for sale because it distributes them to the largest audience. That’s because we are the world’s first and largest digital marketplace for NFTs. And because we allow creators to set their earning fees as low as 10%, those who use OpenSea to manage their NFT collections can continue to earn money from their work on an ongoing basis. At OpenSea, we pride ourselves on making the NFT creation and minting process easy, intuitive, and lucrative for creators because we love to see our market grow and diversify with each new collection.
Questions and answers
Can something be non-fungible but not an NFT?
Yes! Any completely original item that is not interchangeable with another of the same item is not fungible. Therefore, an original piece of art like the Mona Lisa is not expendable. An item of clothing is also not fungible because it may be more valuable than another similar item of clothing due to who previously owned it or the condition it is in. But neither of these things is inherently an NFT because a non-fungible token must be recorded on the blockchain. The blockchain functions as a transparent, immutable, and permanent online ledger that keeps track of transactions. Therefore, what makes something an NFT is that it is not fungible and is registered on the blockchain.
Will we be buying things like cars as NFTs on the blockchain in the future?
Very likely, yes! Because NFTs are immutable (meaning they cannot be changed) and offer sole ownership of an item, they are a natural choice for purchases that need to be trackable like cars. For example, right now when buying a car, the owner received a paper title. In the future, we may see it being replaced by a smart contract on the blockchain. With a public record of ownership accessible to anyone, the owner can easily and clearly prove ownership of their car, transact with agencies like the DMV, and even sell their car at a later date.
What makes some NFTs more expensive than others?
The value of an NFT is in the eye of the beholder, but many factors come into play when it comes to value. In larger collections, the rarity of an NFT can increase its value. Some NFTs have qualities, characteristics, or aspects that make them special and therefore desirable. For reference, those qualities are listed on each NFT’s OpenSea page. NFTs with traits that are unique tend to generate higher value than their more common counterparts. An NFT made by a well-known creator or artist will also generate more value for the same reason that an original Monet is worth more than your first grader’s macaroni necklace. No shade for your first grader, by the way. And finally, utility is something that can affect value. If an NFT grants its owner access to something exclusive or desirable, it is likely to be more valuable. These are just three things that can make an NFT more expensive, but there are many other elements at play that can affect the price and resale value of an NFT.