What it is and how to create free NFT: step-by-step

What it is and how to create free NFT: step-by-step

While the concept of digital art is far from being agreed upon in other materials such as artists, photographers, video makers and graphic animations, for example, the non-fungible token market (NFT) has become a reality beyond the market. Cryptocurrency.

While the sector is not recovering from the recession that has hit virtually the entire financial market, art can falter, as aesthetics are not tied to the mood of investors. Let’s say Nyla Hayes, a 13-year-old girl who decided to turn dinosaur sketches and other creations from her imagination into NFTs. The girl earned as little as US $ 7 million in 10 months.

But what is a non-fungible token? When something is fungal, a token in this case, means it can be easily replaced with something similar – and it can be easily replaced. In the case of non-fungible tokens, each token contains unique information or attributes, making it impossible to exchange or exchange them. Fungible tokens are divisible – meaning you can send a fraction of the ERC-20 token. (Like cash, where you can pay with a R $ 10 bill and get a change.) On the other hand, non-fungible ERC-721 tokens cannot be split and must be bought or sold in one piece.

In this tutorial, we chose OpenSea Marketplace to explain how to create and trade your own NFT.

Market selection

The first step is to define the marketplace, that is, the platform where the artist or content creator wants to reveal their NFT. The largest is OpenSea, which will be used as a step-by-step example from the creation of the digital wallet to the first NFT minting.

Why create a portfolio?

The answer is basically as follows: Marketplace, in this case OpenSea, does not care about cryptocurrency for the purchase and sale of NFTs, as the platform acts as a kind of exhibition, trade fair, retaining 2.5% with a fee. In case of sale.

Creating your profile

When opening the OpenSea homepage, in the top right corner, the investor (or exhibitor) must click on “Profile” in the same way as creating a social network profile, with the difference that the platform will present a message asking to add authentication. User’s wallet.

OpenSea will ask you to connect to the user’s wallet. Image: OpenSea

But what if I don’t have a wallet?

In this case, it is the first step. For example, they are considered to be the most used in openness transactions, the metamask wallet can be opened in minutes, just by choosing where to install their hot wallet. The following example uses a wallet linked to the Google Chrome browser, which was the selected option.

The following steps are similar to creating an email or social network account in terms of choosing a password and accepting the terms of use, but you need to pay extra attention because, in addition to a password, the application will provide a set of specific 12 word secrets. Sequence, which should be kept in a safe place as they will be necessary in case of retrieval of wallet.

In addition to passwords, users must enter passwords in the order provided to them. Image: OpenSea

Returning to OpenSea

After opening the digital wallet, you should re-enter the OpenSea homepage, click on “Profile” and then on “MetaMask”, as in the example in question. At this point, the wallet appears at the front and you need to click “Next” to authorize the connection between OpenSea and the wallet.

The user must click “Next” to close the connection between Marketplace and Wallet. Image: OpenSea

Editing profiles in OpenSea

Connecting a wallet gives you automatic access to an OpenSy account, which is currently the same as a profile on Facebook or Instagram, with space for editing profiles, photos, banners, and other social links. Networks, such as Twitter, for example, in addition to fields to fill in usernames and other personal information.

Time to mint the first NFT

The user must remember that the minting follows the same process as the publication on the page, with the difference that the digital product, the crypto-asset, is being created with commercial value. Therefore, in addition to possession of the work, the user needs to have attractive information and be the legal owner of the work, be it photo, painting, video, 3D animation.

Then just click “Create” in the top right corner, “Upload” the file to be sent and then fill in the fields “Name” (work), description, “Collection name” and other additional information (not mandatory), such as character name and Gender measures. One detail is that the platform allows only one coin to be drawn at a time so there is no gas cost. The user then needs to choose which blockchain network to use to mint NFT, the selected network in our example is Ethereum. The process is repeated to create other NFTs, which can be added to an existing collection or added to a new collection.

The user must select a file to mint. Image: OpenSea

NFTs must be minted one at a time so there is no charge, the user must also choose a blockchain network. Image: OpenSea

Lazy coin

The NFT in this instance is minted without an initial charge, so much so that there is no balance in the portfolio. This is because OpenSea uses a feature, also called Rarible, called “lazy minting” that creates NFT, although its fixed data on the blockchain is created at the time of sale, not at the time of NFT creation. Has been confirmed. That way, creating a token is free until someone buys it. In the case of OpenSea, “lazy minting” can be done by selecting Ethereum and Polygon networks when creating NFT, and the 2.5% fee is paid by the NFT buyer.

Publishing works

When creating NFT, OpenSea offers the option to share crypto assets on various social networks, although each collection also contains a specific link that can be used for dissemination.

Gaming is another segment that could help boost the NFT market this year, according to a survey by DappRadar, which found that these types of games moved US $ 4.9 million in 2021 and US $ 484 million already this year. According to a report by Cointelegraph Brasil.

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