Have you been highly active in the crypto market? If so, you might have heard about NFTs. Even if you aren’t active in the crypto market, you might have come across this term on social media. There is so much hype around NFTs.
Creatives such as celebrities, artists, and others are aiming to release their NFTs and make a lot of money. Trust us when we say that NFTs can get you a good price if there is a high demand for your NFT. For example, Beeple, one of the popular visual artists, sold their NFT for $69 million. There are several other digital artists who are developing NFTs and selling them to earn a huge sum of money.
Do you also want to develop your NFT? If so, you might have a lot of questions. In this blog post, we will try to answer a few of those questions to help you develop your own NFT. So, let’s get started.
What Do You Need To Create An NFT?
- Crypto wallet to store crypto
- Artwork, song, or collectible
- Crypto minting fee
- Pick a blockchain
What Can Be Considered For An NFT?
Several people who want to create an NFT are confused about what can be considered to create an NFT. Is it only digital artwork? Does it also include real-world artwork?
Well, currently, digital artworks are a major choice for NFT such as songs, collectibles, videos, gifs, and more. However, there have been instances where physical artwork has been used to create and mint an NFT. For example, the art gallery Christie’s sold a physical artwork inspired NFT.
Hence, NFTs can be created for both digital artworks along with the physical artwork too.
Which Digital Wallets Should You Use for NFT?
The answer is simple. It depends on the blockchain you are using. Now, Ethereum is one of the most popular blockchains used to create NFT. So, you must choose a digital wallet that supports the Ethereum blockchain.
Although most digital wallets will support Ethereum blockchain, you must check it out before developing your NFT. Currently, Trust Wallet and MetaMask are two popular digital wallets that support a wide variety of blockchains.
Which Blockchain Should Be Used to Create NFT?
Nowadays, there are different blockchains to choose from to create NFT. However, Ethereum still remains to be the most popular blockchain to develop NFT. It was also the first blockchain that introduced us to NFT as we know it today. But the minting and handling fees of NFT on Ethereum makes it an expensive choice.
If you want a cheaper yet robust alternative, you can choose Binance Smart Chain, Tron, Polkadot, or Tezos. They also offer faster transaction speed making them a good choice for developing NFT.
What Platform Should Be Used To Mint NFTs?
This will depend on the blockchain you use. If you have gone to cheaper alternatives such as Binance Smart Chain, you can use platforms like Treasureland or BakerySwap to mint your NFTs.
However, if you have chosen Ethereum blockchain, you can choose from Rarible or OpenSea platforms. You need to remember that the most important thing is to choose a platform that has a familiar marketplace making it easier to mint NFTs.
NFTs are becoming highly popular and are a great source of income if you have the talent to create exquisite artwork. And knowing the minute things about developing and minting your NFT can be highly beneficial to make the most of this opportunity.
For more information on NFTs, crypto market, and insights, keep reading Coin Informer!