NFTs, or non-fungible tokens, are blockchain-based tokens that prove the ownership and history of digital objects such as images, video files, and even physical assets. While Twitter has been overwhelmed by NFT avatars such as Bored Ape Yacht Club, CryptoPunks, and Pudgy Penguins, millions of dollars in NFT artwork have been in the spotlight and have made a name for themselves over the past year. rice field. Even big brands and celebrities are on the cusp of NFT, but how do you create irreplaceable tokens? Creating an NFT (a fancy term for “building on the blockchain”) is a seamless experience if you follow these beginner steps.
Get a Crypto exchange account
The first step in creating an NFT (or doing something with crypto) is to get a crypto exchange account such as Coinbase or Kraken. Cryptocurrencies make it easy to buy and sell cryptocurrencies. You need a crypto exchange account because you need to purchase Ethereum to pay a one-time fee to create an NFT. This is explained in the next section. And hey, if your NFT is selling, you may want to monetize your income, convert them to another cryptocurrency, or do something else that crypto exchange can do for you.
Ethereum is a blockchain on which most NFTs are built. Ethereum or ETH is also the name of the home currency of this network. So, when you sell and buy NFTs, you`re most likely to use Ethereum. Ethereum is listed on almost all crypto exchanges (it`s the second-largest cryptocurrency after all), so you won`t have trouble buying it. But why buy Ethereum to sell an NFT? To buy and sell NFTs, you`ll usually use an NFT marketplace, which is like eBay or Amazon for NFTs. By far the biggest one of those is OpenSea, which accounts for 97.8% of all Ethereum NFT trade as of October 2021. That`s the marketplace we`ll cover here.
Get a crypto wallet
NFT marketplaces like OpenSea work with crypto wallets. There are many Ethereum wallets out there. But the most popular to date is MetaMask (which is funded by Ethereum incubator ConsenSys, like editorial independent decryption). MetaMask is a browser plugin that works best with Google Chrome or Brave. Once installed, you can save Ethereum and Ethereum-based tokens (including NFTs). Setting up a crypto wallet can sound daunting, but it’s quick and easy. Download MetaMask from their website, install it and follow the instructions. Click as soon as the little fox logo appears in your browser. Here are some simple steps. Create a password. Separately, MetaMask assigns the 12-word phrase “Secret Recovery Phrase” that creates the wallet. It should be stored in a safe place. B. Anyone with a seed phrase can access your wallet and the money in it, so put it on a piece of paper in a safe place. You also have the option to buy Ethereum directly from MetaMask, but we don’t recommend it because it costs more than exchanges.
Send Ethereum to a crypto wallet
Once you have purchased Ethereum through crypto exchange and have MetaMask working, load Ethereum into your crypto wallet. To send Ethereum from an exchange, go to the exchange’s Send or Withdrawal page. This page allows you to move your funds to a cryptocurrency wallet. You need to enter:
- Amount of Ethereum to send
- Your public Ethereum address
When you set up MetaMask, a public Ethereum address is automatically generated. It appears at the top of the MetaMask popup and starts with “0x”. Think of your Ethereum address as a blockchain bank account number.