HOW TO CREATE NFT
Sergey Baloyan
Entrepreneur, X10.Agency Founder
Check out my previous articles at HackerNoon:
INTRO
In this article I'd like to continue the theme of NFTs which is currently being more and more hyped.
Even mass media are now talking about NFT, famous artists like Lindsay Lohan are picking up the trend, Banksy work is being tokenized. It's quite easy to buy NFT, but how to create them?
It is thought to be quite complex and pricey but let me assure you that nowadays creating your own personal NFT is quite affordable and even free. And yes, no coding needed. Let me take you through the leading platforms which you can use to create and sell your unique NFT in a few minutes.
Even mass media are now talking about NFT, famous artists like Lindsay Lohan are picking up the trend, Banksy work is being tokenized. It's quite easy to buy NFT, but how to create them?
It is thought to be quite complex and pricey but let me assure you that nowadays creating your own personal NFT is quite affordable and even free. And yes, no coding needed. Let me take you through the leading platforms which you can use to create and sell your unique NFT in a few minutes.
OpenSea
OpenSea is definitely a leader among platforms where you can create your NFT.
Quite user-friendly creation experience allows you to create the token for free fast and efficiently. Still, you need to be ready that you will be asked to pay a fee in ETH for your NFT to be sold. Creation is free but sale is not. Still OpenSea is a good choice since it's very popular and attracts a lot of buyers. Also the platform has some interesting advanced features. For instance, OpenSea provides an opportunity to sell your NFT in bundles with other sellers' NFTs. That's quite unique and can be really beneficial since this option broadens the auditory.
Quite user-friendly creation experience allows you to create the token for free fast and efficiently. Still, you need to be ready that you will be asked to pay a fee in ETH for your NFT to be sold. Creation is free but sale is not. Still OpenSea is a good choice since it's very popular and attracts a lot of buyers. Also the platform has some interesting advanced features. For instance, OpenSea provides an opportunity to sell your NFT in bundles with other sellers' NFTs. That's quite unique and can be really beneficial since this option broadens the auditory.
How to create your NFT on OpenSea?
First visit the website of the platform: https://opensea.io/
Make sure you visit the website with the correct address.
Make sure you visit the website with the correct address.
Click "Create".
A window will pop up claiming you need to enter via Metamask wallet. You can use other wallets, but I encourage you to use Metamask. Just follow the procedure and connect your wallet.
A window will pop up claiming you need to enter via Metamask wallet. You can use other wallets, but I encourage you to use Metamask. Just follow the procedure and connect your wallet.
To add a token, you need to create a collection: click "Create". After you click you will be asked to agree with Terms of Service. To do so you will need to sign confirmation with your Metamask. It's free, so just sign it in Metamask pop-up which will appear soon.
Now you need to add the collection logo, collection name and description.
The collection has been created! You can add items you want to tokenize: click "Add new item" and sign the action in Metamask pop-up.
Add the media file that you want to link to the token. It can be a picture, video, 3D model or sound. Acceptable formats are JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF. Size may be up to 100 MB. Also you need to add the name of the token.
Next, you can add various characteristics to the token. You can also add blocked content that can only be seen by the buyer (owner of this token). Also you need to define the number of copies in which the token is issued. Default number of copies is 1. After everything is set up correctly, click "Create".
Token has been created! For a couple of days it is being verified (authenticity check). Then you can sell it if you like. To do this, click "Sell".
At Opensea, sales are usually conducted in an auction format. Sell process deserves additional article since there are quite a lot of options and settings. You can check it in the screenshot below. You can set any price you want and also choose the way to sell. After you set everything up click "Post Your Listing".
At Opensea, sales are usually conducted in an auction format. Sell process deserves additional article since there are quite a lot of options and settings. You can check it in the screenshot below. You can set any price you want and also choose the way to sell. After you set everything up click "Post Your Listing".
Rarible
Rarible is interconnected with OpenSea being the big store of it. So the NFT creation process is quite similar to OpenSea.
Rarible functionality is a bit weaker than OpenSea, for instance the limit of size of artwork you tokenize is 3 times lower and the number of formats is limited. Still, Rarible has good traffic and allows you to mint a token before you sell it while OpenSea processes minting of token when it's actually getting sold.
Rarible functionality is a bit weaker than OpenSea, for instance the limit of size of artwork you tokenize is 3 times lower and the number of formats is limited. Still, Rarible has good traffic and allows you to mint a token before you sell it while OpenSea processes minting of token when it's actually getting sold.
How to create your NFT on Rarible?
Make sure you visit correct website: https://rarible.com/ and push "Create" button.
Then you need to choose if you want to create a single NFT or Multiple (use it in case you have a series of artworks to tokenize). Let's choose Single as a simple example.
Next you get to the actual Creation page.
Settings are quite similar to OpenSea, so you basically upload your artwork in PNG, GIF, WEBP, MP4 or MP3 formats. As you see the range of formats is more limited than on OpenSea. Same with the size, your artwork should weigh less than 30mb.
Also on this stage you set the price for which NFT will be instantly sold (don't forget that you pay 2.5% fee to Rarible). If you don't set this option, the price for the NFT will be formed in the auction mechanism.
Also you can add secret content which can be redeemed only after NFT is purchased. That might be a link, code or digital key. Also at this step you need to choose the Collection type which can be custom ERC-721 or RARI (set by default). In case you want to create your custom collection, just click on it and fill in the details.
Settings are quite similar to OpenSea, so you basically upload your artwork in PNG, GIF, WEBP, MP4 or MP3 formats. As you see the range of formats is more limited than on OpenSea. Same with the size, your artwork should weigh less than 30mb.
Also on this stage you set the price for which NFT will be instantly sold (don't forget that you pay 2.5% fee to Rarible). If you don't set this option, the price for the NFT will be formed in the auction mechanism.
Also you can add secret content which can be redeemed only after NFT is purchased. That might be a link, code or digital key. Also at this step you need to choose the Collection type which can be custom ERC-721 or RARI (set by default). In case you want to create your custom collection, just click on it and fill in the details.
On the same page you need to set a name for your NFT, description, royalties rate (count wisely, who knows what is the future of your artwork) and properties (which is optional, but quite useful for some types of artworks).
After you're ready, click the "Create" button. Rarible will ask you to connect the wallet, it's the same process as we went through at OpenSea. I recommend using Metamask. After you connect the wallet and agree on Terms & Conditions, you're all set to create your NFT. Push "Create" again.
After you're ready, click the "Create" button. Rarible will ask you to connect the wallet, it's the same process as we went through at OpenSea. I recommend using Metamask. After you connect the wallet and agree on Terms & Conditions, you're all set to create your NFT. Push "Create" again.
Now you need to approve token creation and pay the fee. After it's approved, you will proceed to the token minting which is quite simple. Congratulations, you just minted your NFT!
Sign the sell order once you are ready to sell your NFT.
Sign the sell order once you are ready to sell your NFT.
Mintable
Mintable is another platform for minting and selling NFTs. If you want to test the NFT creation process, this might be the cheapest platform since you can create and list your token for sale for literally 0 fees.This is one of the competitive advantages of this platform.
Mintable even holds a special marketplace for NFTs created with 0 fees. So, no investment is needed to start selling your artwork. Still, the platform is not as popular as OpenSea, so the traffic is lower. Also registration is required which might be a bit annoying compared to OpenSea and Rarible where login happens via Metamask.
All in all, the platform is a bit less user-friendly than OpenSea and Rarible but it truly does allow users to create NFTs for free, including the sale process.
Mintable even holds a special marketplace for NFTs created with 0 fees. So, no investment is needed to start selling your artwork. Still, the platform is not as popular as OpenSea, so the traffic is lower. Also registration is required which might be a bit annoying compared to OpenSea and Rarible where login happens via Metamask.
All in all, the platform is a bit less user-friendly than OpenSea and Rarible but it truly does allow users to create NFTs for free, including the sale process.
How to create your NFT on Mintable?
First visit https://mintable.app/ and make sure the address is correct. You need to sign up. Just follow the procedure offered by Mintable. After you sign up just login and click "Mint an Item".
When the pop-up appears, choose "Create a new item".
Next pop-up will offer you to choose out of Easy or Advanced way to mint NFT. In this guide I'll show you the easy way, which is also completely free. If you want to do it the same way, don't change the position of the tumbler and click further. You will be asked to connect your wallet. There's nothing new at this step, as always I recommend using Metamask.
Next pop-up will offer you to choose out of Easy or Advanced way to mint NFT. In this guide I'll show you the easy way, which is also completely free. If you want to do it the same way, don't change the position of the tumbler and click further. You will be asked to connect your wallet. There's nothing new at this step, as always I recommend using Metamask.
Next you'll be asked to fill in the details of your NFT. That's quite simple. Also you need to upload the item you're tokenizing. The range of types is quite diverse, from audio and images to documents and even ZIP files.
At the same page you need to upload the preview image of your item, fill the description, choose whether the Copyright is transferred with purchase and choose the way you want to sell it. As usual, it can be fixed price, auction or auction with buy now. The latter means an auction type where buyers can instantly purchase an asset for a particular price, avoiding competition.
After you're all set click "LIST THIS ITEM". You will be asked to sign this transaction with Metamask. It's absolutely free. After you sign, your NFT will be listed for sale at Mintable Gasless Shop. You can check the NFT page and boost the sale if you want.
Congrats! After passing the moderation, you can start your sales! Now you're an NFT artist :)
How To Sell Your NFT art
Well, it's a pretty big question, and part of it was covered in my previous article "The Ultimate Guide to Marketing and Promotion" where I described most of the methods we use, working with our clients - different crypto, DeFi and NFT projects.
Also, I'm going to write more articles on how to sell and promote NFT tokens, as the market goes forward and there are more and more interesting services appear where you can promote yourself almost for free (like NFT Hunters for example). So stay tuned.
In the meantime, if you want to have updates about crypto and NFT industry and participate if different contests and activities - Follow me in Twitter.
If you are an NFT / DeFi / crypto project and want to know more how to promote you project, you can always contact me via Telegram (@baloyan)
Also, I'm going to write more articles on how to sell and promote NFT tokens, as the market goes forward and there are more and more interesting services appear where you can promote yourself almost for free (like NFT Hunters for example). So stay tuned.
In the meantime, if you want to have updates about crypto and NFT industry and participate if different contests and activities - Follow me in Twitter.
If you are an NFT / DeFi / crypto project and want to know more how to promote you project, you can always contact me via Telegram (@baloyan)
How China's New National Cryptocurrency Changes Everything
Sergey Baloyan
Entrepreneur, X10.Agency Founder
China is launching a national cryptocurrency. In this article, we'll tell you what information is already known about the project at the moment as well as how it may change the financial world.
A bit of History
In October 2019, Chairman of the People's Republic of China, Xi Jinping, said that the development of blockchain technology is one of the priorities of the state and called for accelerated growth of the industry. By that time, it was already known that China had been developing its own cryptocurrency since 2014.
News about this periodically surfaced, although most crypto enthusiasts know China more for their strict regulatory actions — significant restrictions on cryptocurrency investment, the inclusion of mining in the preliminary stop-list of industries that should be banned, closure of blockchain conferences by the police, and so on.
Much has changed since Facebook published their initial plans for Libra. The prospect of a private company with 2.3 billion users worldwide issuing its own currency made the idea much more real to governments around the world.
China took it as an incentive. First of all, to compete with the dollar in the digital payments market and, ultimately, to change the entire global financial system.
Looking at the example of China and understanding what the future may hold, many other countries have announced the development of their own CBDCs (Central Bank Digital Currencies). For example, central banks for the European Union, South Korea, Russia, Sweden and a number of other countries have announced their own developments in the field of state cryptocurrencies.
News about this periodically surfaced, although most crypto enthusiasts know China more for their strict regulatory actions — significant restrictions on cryptocurrency investment, the inclusion of mining in the preliminary stop-list of industries that should be banned, closure of blockchain conferences by the police, and so on.
Much has changed since Facebook published their initial plans for Libra. The prospect of a private company with 2.3 billion users worldwide issuing its own currency made the idea much more real to governments around the world.
China took it as an incentive. First of all, to compete with the dollar in the digital payments market and, ultimately, to change the entire global financial system.
Looking at the example of China and understanding what the future may hold, many other countries have announced the development of their own CBDCs (Central Bank Digital Currencies). For example, central banks for the European Union, South Korea, Russia, Sweden and a number of other countries have announced their own developments in the field of state cryptocurrencies.
In April 2020, screenshots of the first version of the digital yuan application appeared online. According to preliminary data, the tests began among the "white list" of clients of the Agricultural Bank of China (the 7th bank in the world in terms of net profit) in four pilot regions: Shenzhen, Hong Kong, Chengdu, and Suzhou. In April, Suzhou enterprises even intend to pay 50% of transport subsidies to local workers in the new digital currency.
A couple of weeks ago, it became known that on April 25, 2020, China will launch its national blockchain platform called BSN (Blockchain Service Network). Many believe this is the first, fundamental step before the launch of a global financial project - a government-backed cryptocurrency called DC/EP. And it seems that the country is taking this initiative more seriously than ever before.
Based on the screenshots that appeared online recently, it is clear that the crypto-yuan will be launched soon enough. More and more experts are saying that this could change the entire global financial system. So, what is known at the moment and what conclusions can be drawn from it?
Based on the screenshots that appeared online recently, it is clear that the crypto-yuan will be launched soon enough. More and more experts are saying that this could change the entire global financial system. So, what is known at the moment and what conclusions can be drawn from it?
Reviewing the BSN screenshots
Several basic functions can be seen in the screenshots, and the interface is very similar to other Chinese payment platforms such as Alipay and WeChat Pay. Also, according to various statements of officials, it is already possible to understand many features and functions of the future cryptocurrency. I tried to gather all the information from different sources together.
So, what is known at the moment about the crypto yuan?
A list of all the important facts about the digital yuan:
Is this the beginning of a new financial era?
As can be seen from the information currently available, DC/EP is not the classic concept of a decentralized cryptocurrency like Bitcoin. The users themselves are unlikely to feel a significant difference in using the new system compared to WeChat Pay or AliPay. For the government, the blockchain data structure will ensure unprecedented traceability and control.
It is important to note the advantage China can gain by being the first to release a government backed digital currency at scale. Meanwhile, competing projects like Libra and Ton have been held back and forced to change by regulators.
Today, China is the second economy in the world and the least dependent on oil prices. While there's no doubt that the dollar reigns supreme today, the digital yuan is China's best chance to compete with the dollar on the global scale in the years ahead.
There is no doubt that other governments will quickly follow China's example. Perhaps we are entering a new era — the end of physical cash and the emergence of central bank cryptocurrencies. And there is a strong possibility that this will completely change the international monetary system as we know it.
To get more thoughts and insides about crypto industry you can follow my LinkedIn , Medium , Twitter
Today, China is the second economy in the world and the least dependent on oil prices. While there's no doubt that the dollar reigns supreme today, the digital yuan is China's best chance to compete with the dollar on the global scale in the years ahead.
There is no doubt that other governments will quickly follow China's example. Perhaps we are entering a new era — the end of physical cash and the emergence of central bank cryptocurrencies. And there is a strong possibility that this will completely change the international monetary system as we know it.
To get more thoughts and insides about crypto industry you can follow my LinkedIn , Medium , Twitter
• The Chinese cryptographic currency will be called DC/EP, which stands for Digital Currency Electronic Payment.
• The Central Bank has not yet officially confirmed the schedule for the introduction of the digital yuan, but many sources talk about a full launch in mid-2021.
• Besides the standard ability to receive and send payments, one of the main functions is called 'touch and touch' - it allows two people to simply touch their mobile phones to make a transfer.
• Transfers can be made without an internet connection on devices with NFC technology or Bluetooth. Offline transactions are likely to be saved and accounted for whenever the users next get online. But so far not much is known specifically about the settlement mechanism.
• Familiar features such as transfer by account number as well as generation and scanning of QR codes can already be seen on screens.
• The BSN payment system can process up to 300,000 transactions per second.
• The Chinese cryptocurrency is suitable for any financial operations because of its high throughput, including traditional retail transactions and even micropayments.
• Obviously, the crypto yuan blockchain will be centralized.
• Interestingly, the currency will not only work on the blockchain — it will be issued in two main stages: from the Central Bank to commercial banks, and from commercial banks it will already be put into circulation.
• Banks and organizations will be able to act as DC/EP issuers who can exchange the digital yuan with other fiat currencies and assets.
• Patents also indicate that DC/EP will use a two-tier architecture that allows licensed third-party payment institutions and banks to participate in the secondary issuance of digital currency.
• It appears that Alipay itself will participate in the implementation of this scheme.
• All organizations licensed to participate in the DC/EP issue will have a reserve account with the People's Bank of China.
• China also sees its own cryptocurrency as a means of counteracting new digital currencies. According to the Central Bank, a domestically issued digital currency, supported by the government and expressed in the national unit of account, can help limit the issue of private currencies and reduce the risks of financial instability.
• According to China's plan, the crypto yuan will significantly expand financial infrastructure availability in the country. At the same time, as an international means of exchange, it could improve the efficiency of cross-border payments.
• Many sources say that on March 24, the Bank of China completed the development of basic functions and began drafting laws to implement the new technology nationwide.
• One of the main challenges for the Government is to ensure that the crypto yuan enjoys the same sovereignty as the fiat yuan. Strong liquidity guarantees are promised to its holders.
• The central bank said that DC/EP is also planned to be widely used during the 2022 Olympic Games to be held in Beijing.
• The Central Bank has not yet officially confirmed the schedule for the introduction of the digital yuan, but many sources talk about a full launch in mid-2021.
• Besides the standard ability to receive and send payments, one of the main functions is called 'touch and touch' - it allows two people to simply touch their mobile phones to make a transfer.
• Transfers can be made without an internet connection on devices with NFC technology or Bluetooth. Offline transactions are likely to be saved and accounted for whenever the users next get online. But so far not much is known specifically about the settlement mechanism.
• Familiar features such as transfer by account number as well as generation and scanning of QR codes can already be seen on screens.
• The BSN payment system can process up to 300,000 transactions per second.
• The Chinese cryptocurrency is suitable for any financial operations because of its high throughput, including traditional retail transactions and even micropayments.
• Obviously, the crypto yuan blockchain will be centralized.
• Interestingly, the currency will not only work on the blockchain — it will be issued in two main stages: from the Central Bank to commercial banks, and from commercial banks it will already be put into circulation.
• Banks and organizations will be able to act as DC/EP issuers who can exchange the digital yuan with other fiat currencies and assets.
• Patents also indicate that DC/EP will use a two-tier architecture that allows licensed third-party payment institutions and banks to participate in the secondary issuance of digital currency.
• It appears that Alipay itself will participate in the implementation of this scheme.
• All organizations licensed to participate in the DC/EP issue will have a reserve account with the People's Bank of China.
• China also sees its own cryptocurrency as a means of counteracting new digital currencies. According to the Central Bank, a domestically issued digital currency, supported by the government and expressed in the national unit of account, can help limit the issue of private currencies and reduce the risks of financial instability.
• According to China's plan, the crypto yuan will significantly expand financial infrastructure availability in the country. At the same time, as an international means of exchange, it could improve the efficiency of cross-border payments.
• Many sources say that on March 24, the Bank of China completed the development of basic functions and began drafting laws to implement the new technology nationwide.
• One of the main challenges for the Government is to ensure that the crypto yuan enjoys the same sovereignty as the fiat yuan. Strong liquidity guarantees are promised to its holders.
• The central bank said that DC/EP is also planned to be widely used during the 2022 Olympic Games to be held in Beijing.
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