A how-to guide for creating your own NFT

The following statements do not constitute investment advice or any other advice on financial services, financial instruments, financial products, or digital assets. They are intended to provide general information. The following statements do not constitute an offer to conclude a contract for the purchase or sale of financial instruments and financial products or an invitation to submit such an offer and to buy or sell any particular digital asset. Cryptocurrencies are subject to high fluctuations in value. A decline in value or a complete loss are possible at any time. The loss of access to data and passwords can also lead to a complete loss.

Do you have a creative mind, a passion for new technology, and want to sell your work in an original way as NFTs? Find out how to create the digital certificate for free in just a few minutes and sell your creations using blockchain technology.

As a reminder, “NFT” stands for non-fungible token. It’s essentially a virtual certificate registered on a blockchain which allows a digital work to be identified, much like a certificate of authenticity. Unlike a currency, NFTs are non-interchangeable—which means they can’t be exchanged for goods or assets of the same value.

NFTs can be sold on digital marketplaces, where transactions only take place in cryptocurrency. Blockchain technology makes it possible to ensure that these transactions are secure. As an artist, using NFT technology is a way of selling your work without having to rely on galleries or auction houses. 

Wondering how to create an NFT? Whether you’re a musician, painter, designer, videographer, photographer, illustrator, or even a GIF creator, in this guide you can find out more about how to create an NFT, including:

• Registering on a marketplace
• Downloading your work and meeting the terms of sale
• Selling your work

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Wondering if your creations can be listed on a blockchain and become an NFT? When it comes to NFTs, (almost) anything is possible. You can create NFTs from:

• Artwork (drawings, paintings, photos, etc.)
• Songs or pieces of music
• Films
• Collector’s items (such as a game card)

But you can also make NFTs from:

• GIFs
• Tweets (yes, really!)
• Virtual worlds
• Virtual objects in video games
• Domain names
• Tokenized assets (real estate, cars, etc.)

Of course, you must own the rights to the work to turn it into an NFT.

Twitter co-founder Jack Dorsey sold his very first tweet for €2.9 million! But before you try to match Dorsey’s profit (or not!), there are a few steps you need to take to create and sell your NFT:

The first thing you need to decide is the blockchain you want to “mine” on—in other words, where you want to register and get your NFT verified and time-stamped. A blockchain is a global database secured by its decentralized system. Blockchain technology is also what enabled cryptocurrencies to be created.

The most used blockchain for selling NFTs is Ethereum.

However, other blockchains also allow NFTs to be issued, like Binance Smartchain, Flow, Tron, and EOS.

Once you’ve chosen your blockchain, you’ll need to create a cryptocurrency wallet, which is essential if you want to carry out cryptocurrency transactions, such as receiving cryptocurrency or exchanging it for a “standard” currency.

To create an NFT, you can simply use host-wallets like Coinbase or Kraken. 

If you want to invest in cryptocurrencies, you can find out everything you need to know about choosing a crypto wallet in our guide.

These days, there are plenty of sites where you can create and sell NFTs. Some of the best-known marketplaces are:

• Opensea
• Rarible
• Mintable

These sites are like online digital art stores, but the transactions take place in cryptocurrency.

Want to know how to create an NFT for free? 

The rates for creating NFTs vary, as do the fees. Unfortunately, there aren’t many platforms that won’t charge you network fees. 

The steps vary, depending on the platform you choose, but here’s a general look at how NFT creation goes: 

1. Choose the platform and start creating your NFT. You’ll be asked to define the number of copies of your work (single or multiple).
2. The chosen platform will then ask you to connect your crypto wallet before giving you access to an NFT creation page. 
3. To create your NFT, you just need to upload the file of your choice—JPG, PNG, GIF, WEBP, MP4, and MP3 files are all accepted.
4. Next, you should choose between a fixed price, free price or time-limited auction. 
5. You’ll also need to give details about your NFT: a title, description, collection, any commissions in the event of resale, etc.
6. Finally, you’ll need to sign the required documents and authorizations. 

And there you have it—you’ve just created your first NFT!

As for prices charged by the main platforms, note that: 

• Thanks to Rarible’s “lazy minting”, you no longer have to pay network fees (known as “gas fees”) to create and sell your NFTs. Your NFT will be registered on the blockchain when your work is sold, at the buyer’s expense. 
• On Opensea, on the other hand, you have to pay gas fees to register the sale of your NFT on the blockchain.

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The whole point of NFTs is to create scarcity in a digital world, where abundance and copying reign supreme. Remember that NFTs “only” sell the ownership of a digital object—the creator keeps its economic and commercial rights. 

A true next-generation art marketplace, NFTs work like trading cards. The only regulation to determine the value of an NFT is the law of supply and demand. As of 2021, the NFT market is worth more than $9.2 billion.

With the market still being relatively new, it’s hard to establish the factors that determine how NFTs go up in value. That being said, some parameters that can increase prices of an NFT are:

• its scarcity
• its tangibility (if it’s a real object)
• its usefulness (for example, if an NFT can be bought as a ticket to an event)
• its source (the more known the NFT, the more its price climbs)

Are you an artist wondering how to sell your NFT? You have several options to choose from:

• Promote your NFT to your community through the usual means, such as email or social media. 
• Get in touch with NFT collectors. To do this, you can communicate via Instagram and Twitter using specific hashtags like #cryptoart, #nft, #cryptoartist, and #nftphotography.
• Take an interest in metaverses specializing in NFTs, like Cryptovexels and Somniumspace. A metaverse is a 3D virtual world accessible through a browser.

In 2021, there’s no specific legislation regarding the declaration of NFT sales in France. However, this is expected to change in 2022. MPs currently planning next year’s budget bill are debating the creation of a separate statute for NFTs. They could become subject to similar taxes as non-digital art objects.

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