How to Create Your Own NFT Token: A Step-by-Step Guide

Today we will show you how to create your own NFT token. Why would you want to do that, you might ask. Non-exchangeable tokens are becoming increasingly popular. They can be used as greeting cards, graphic artifacts, or simply collected. Imagine for a second that you could show off your impressive collections to your friends and keep items that have value in different games? Instead of having to start all over again with each new game, as gamers do.

NFTs are now taking the world of digital art and collecting by storm. Digital artists are seeing their lives changed by the huge sales in the new crypto audience. And celebrities are joining them when they notice a new opportunity to engage with fans. But digital art is only one way NFT can be used. In fact, they can also be used in other ways, such as to capture ownership of any unique asset in the digital or physical realm.

All about NFT tokens

A non-exchangeable token (NFT) is an individual digital token that exists on a blockchain. In the current period, many non-exchangeable tokens are issued under the ERC-721 standard for the Ethereum chain. But there are other standards, such as ERC-1155 and ERC-998. NFT tokens are also supported by other blockchains, including BSC, MATIC, TRON, EOS and NEO.

Unlike cryptocurrencies and traditional money, such as the same bitcoin or the Russian rouble, each NFT contains unique data, meaning that these tokens are not interchangeable with each other. While an ordinary digital token or paper note can be exchanged for another token of equal value, with NFT tokens such an exchange is completely impossible.

Non-interacting tokens are used to create verifiable digital scarcity in specific applications that require unique digital elements. For example, for blockchain games and collectibles. NFT can also be used to represent in-game assets that are controlled by the user rather than the game developer. Such tokens or digital items can actually survive the game they were originally created for, and find inclusion in individual future games. Another application is in digital art. NFT allows each creator to prove the authenticity and ownership of artworks located on a blockchain. Every creative person can create their own NFT and sell content on decentralised markets. NFT is one of the best ways to earn cryptocurrency without investing in it directly. It’s almost like setting up shop on Ebay.

There are plenty of reasons to buy NFT. Every token is unique, it’s one of a kind. You cannot make another NFT which is the same token number on the same smart contract. This is guaranteed by the blockchain and can be verified by any user. The owner of the NFT has full authority to use that image and asset. You will be the sole owner of the collectible, which can be resold. But perhaps over time, its value will only increase. By buying an NFT for resale, you can make thousands of dollars. There are many people who do this every day and make a living at it. No one can change the metadata on a token, no one can remove your image or the name of the token. That means it can never be changed, it can never be deleted, it cannot be taken off the blockchain. This is what gives it such great value.

What can NFT be made of?

Any computer file (GIF, jpeg, mp3, PDF and almost any other format) can be the basis for a non-exchangeable token. Blockchain technology provides a new kind of “ownership” of digital files that was previously impossible. NFTs can be bought, collected, sold and even destroyed just like physical items.

What is the best blockchain to use to create NFT?

The most common underlying network for non-exchangeable tokens is Ethereum, but moving NFTs on the ETH network is expensive. One of the better alternatives is Binance Smart Chain or Polygon (MATIC) – services here are several times cheaper.

There are other blockchain projects such as Polkadot, Tron or Tezos. If you decide to make money by selling your creation, before you create an NFT picture, decide on which marketplace you are going to sell.

The best platforms for creating NFT

There are many platforms online for creating and trading digital artworks. The most popular NFT platform is considered to be OpenSea Binance NFT. It sells all kinds of unique tokens and also has an informative blog that publishes seller ratings and a lot of other useful data.

How to create NFT on Opensea

We will now tell you how to create an NFT on Opensea, the largest Ethereum-based NFT marketplace. Link to the homepage of the website https://opensea.io. NFT tokens are created based on media content, meaning you need a picture, a video, a sound file, a 3D model. Over 100 formats are supported. In addition to digital art, there are sections:

  • Musics;
  • Domain names;
  • Virtual Worlds;
  • Trading Cards;
  • Collectibles;
  • Sports;
  • Utility.

You don’t need to be a programmer or a blockchain engineer to create your own NFT. All you need is the ability to work on the Internet and the possession of unique material.

Registering and setting up an account

To register on the platform, you need to connect a valid cryptocurrency wallet. The easiest way to do that is through the Metamask browser application. You need to download it from Google Play and create a new wallet. After logging in you can immediately connect it by clicking the Wallet button and selecting the fox face icon. You can also use another Ethereum vault that works through WalletConnect.

You will then need to come up with a nickname, provide and verify an email address and sign the message sent to your cryptocurrency wallet. There is no charge for digital signing of the message, it’s just to make sure you’re the owner of the wallet. This completes the registration process for Opensea.

NFT token creation example

To start creating your token, click “Create” and you will be taken to the file upload page. You can take a picture or other media content from the web, but after creating each NFT you will be checked for authenticity and only then will you be able to sell your NFT. Upload your creation (max 40 MB), name it, add a Description (max 1000 characters) and click create. The NFT token will be added to your personal collection.

When you create an NFT, you encode the address and the issue in the token ID. In this way, no one but you can mint this NFT and buyers can count on a tight supply limit being secured by the code. If you want to deploy your own contracts, manage the appearance on OpenSea or set the currency and commission for selling contracts on other platforms such as Mintbase or Rarible, you can do so through the same interface.

Platform commission

How much does it cost to set up an NFT – you may ask. Non-exchangeable coins on OpenSea are issued under the ERC-1155 standard, which has made duty-free minting possible. If NFT is not for sale, you don’t pay anything, but you have to pay GAS FEE to put it on the marketplace. Transaction fee depends on time of day, money is deducted from ETH address of crypto wallet. If there is not enough ETH in the wallet, you need to top up your balance.

Creating NFT on Binance

The Binance Marketplace plans to allow all customers to issue NFT on its platform, but as of 12/21/2021, this privilege is only available to a narrow group of pre-approved qualified creators.

When the non-exchangeable token creation feature is active, you will see a “Create” button in the top right corner of the Binance NFT homepage. Click on it and a content upload form will open in front of you. You can digitize images (JPEG, PNG, GIF), music (WAV, MP3) or videos (MP4, MPEG and AVI). The maximum file size that can be uploaded is 50MB. The format used is BEP-721.

How to create an NFT on Juggerworld

The Juggerworld platform supports the creation of unique BSC blockchain-based tokens using BEP-721 or BEP-1155 standards. You can work with the marketplace through the same Metamask by changing the Ethereum network to Bipanse Chain in the settings, or another wallet compatible with the BCS blockchain. Procedure:

You connect the wallet and click the “Create” button.
You choose the number of tokens. One token will be created using BEP-721, more will be created using BEP-1155.
Upload and sign the content.
Set the price and the percentage that will be paid to the author by resellers, in case the creation becomes popular and soars in value.
Complete the creation process by clicking “Create”.
You will see a window pop up asking you to pay the fee. Once the payment is made, the NFT will be added to the My Collection tab, and will appear on the marketplace.

Creating an NFT token on OKEx

The first thing to do is to switch the okex.com website to DeFi technology mode. To do this, click on the “DeFi” slider in the upper left corner of the site.

Once you’ve switched to DeFi mode, you’ll need to create or connect your own cryptocurrency wallet. Metamast, for example. This is necessary to use DeFi mode. Next, you need to select the “NFT Marketplace” option, it gives you access to the client’s NFT token management capabilities.

An NFT token needs source material from which it is generated. This can be an image, video or audio recording. Here are the supported source material formats on the OKEx platform:

For images: JPG, PNG, GIF, SVG up to 100 mb
For video. File: AVI, MPEG, MP4 up to 100 mb
Cover art: JPG, PNG, GIF, SVG up to 100 mb
For audio: WAV, MP3 up to 100 mb, FLAC not supported. The cover art format is the same as the video file.
Detailed instructions: https://www.okex.com/academy/ru/nft-okex

How to create NFT on BakerySwap

BakerySwap platform allows you to tokenize pictures, gifs, videos and audio files. Metamask or Trust Wallet is used to create an account. The fee for tokenizing an NFT is 0,01 BNB. Each author signs a declaration against plagiarism.

How to create NFT on Treasureland

Treasureland is an NFT-marketplace powered by BSC Dego Finance. On this resource, it is possible to create indivisible tokens for free, with all costs being borne by the buyers of the digital art. But if the author wants to transfer their creation, they will have to pay a fee.

A cryptocurrency wallet is required to register an account. Metamask, Trust Wallet, Match Wallet, Onto Wallet applications are supported. The procedure to create NFT is the same as on other marketplaces. Connect a wallet, upload content and mint your own token.

How to send NFT to another person

The owner of an NFT can send it to another person provided that person has a wallet which supports this type of token. It is recommended to send indivisible coins using Trust Wallet and MetaMask. However, adding a partner in co-ownership will be difficult; most common standards (ERC 721, ERC 1155, BEP 721, BEP 1155) do not allow multiple owners.

Conclusion

The crypto industry is evolving, and expanding its scope. Now anyone can create their own NFT token and perpetuate their name on the blockchain, and earn money as well. Choose the right project and try it yourself.

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