So far in the year 2021, according to Google Trends, the term “how to sell NFT” has been one of the most frequently searched keywords. Over the previous seven months, there has been a 160 percent rise in the number of inquiries for NFT sales. That the world is becoming more receptive to the potential of NFTs is a sign that they will become a fundamental part of our everyday lives and transactions in the not-too-distant future. So if you are one of the enthusiasts who want to create an NFT on OpenSea then you have come to the right place.
Creating an NFT is a straightforward process that does not need considerable cryptocurrency understanding. All that is required is a fundamental comprehension of the blockchain, as well as the ability to follow straightforward instructions.
First and foremost, you must decide which blockchain you will use to issue your NFT. Ethereum is the most widely used cryptocurrency, but there are a variety of cryptocurrencies to consider, including Polkadot, Binance Smart Chain, EOS, Tron, WAX, Cosmos, Flow by Dapper Labs, and Tezos, among others.
Given that Ethereum is the most widely used blockchain for NFTs, this article will concentrate on how to establish an NFT on the Ethereum blockchain. To do so, you’ll need an Ethereum wallet that supports the ERC-721 token, as well as $50-$100 in ether to cover the costs of the token’s production and distribution.
After you’ve decided on your blockchain, you’ll need to discover a market for it. It is possible to generate, purchase, and trade NFTs issued on the Ethereum blockchain using three major marketplaces: Coinbase, ShapeShift, and CoinExchange. OpenSea, Rarible, and Mintable are examples of such programs. Because OpenSea is the most widely used of them, it will be used as an example in this article.
Steps for Creating NFT on OpenSea are given below-
- First, go to the OpenSea website.
- In the upper right corner, click on the “Create” button.
- Connect your Ethereum Wallet to your computer and then to OpenSea.
- Once you’ve returned to the “Create” button, move your cursor over it until you see the drop-down choices. Select “My Collections” from the drop-down menu. You may then proceed to click on the blue button that appears with the word “Create” written on it.
- Select a file to upload, write a description, and give it a name. This page provides you with the ability to customize your collections. Choose the suitable name, description, and picture for the collection that you wish to create.
- Using the pencil icon in the upper right corner of the screen, add a banner picture at the bottom of the screen. Then you may start producing your NFTs as soon as you’ve completed this step.
- Select “Add New Item” from the drop-down menu and sign in to your wallet once again. This time, you will be presented with a website that will enable you to upload images, music, movies, and GIFs to your computer.
- OpenSea enables you to customize your NFT by adding distinctive qualities and attributes that distinguish it as unique, extraordinary, or uncommon.
- Upon completion, click on the “Create” button, login into your wallet, and confirm the establishment of your account. You will see that the NFT has been added to your collection.
It’s time to put your NFT on the market now that you’ve finished creating it. Obtaining this information requires that you sign up for an account on the marketplace, access your collection, and identify the NFT that you intend to sell. Select the NFT and then click on the “Sell” option to the right of the selection. By clicking on the “Sell” button, you will be sent to a page where you may set the price and the method of sale. You have the option of selling at a predetermined price or holding an auction.
You also have the option of selecting the tokens in which you wish to be compensated. The only cryptocurrencies that may be received on OpenSea are Ethereum and other ERC-20 tokens.
To choose the token in which you wish to be compensated, click on the “Edit” button. You may also choose whether or not you wish to receive royalties from the NFT. This implies that if the NFT is sold in the future, a percentage of the proceeds will be distributed to the NFT’s developer.
Confirm your settings, and your NFTs will be available for purchase on the market. If somebody chooses to purchase your NFT, you will be alerted immediately. Because the process of creating and offering NFTs for sale requires some Ethereum, you must verify that your Ethereum wallet is filled before you begin.
Because the popularity of NFTs is growing by the day, it is critical that people understand how to create NFTs and, more significantly, how to market and sell them successfully. Hopefully, you have gained sufficient knowledge from this post to get started and begin your NFT adventure. Wishing you the best of success with your projects!