Anything you create or own can be an NFT. Your tweets, music, arts, videos, even your selfie can be sold as an NFT. And yes, you can make a great deal of money from selling NFTs. Are you wondering what NFT is? Well, it is an acronym for Non-Fungible Token hosted on the blockchain. You are probably wondering what makes it different from cryptocurrency since it runs on blockchain technology.
Non-Fungible Token is unique, unlike other cryptocurrencies, and they are the next best thing after fungible tokens. i.e. Cryptocurrencies. In the past few months, there has been a buzz about them and how artists are selling their arts as NFTs. Twitter founder Jack Dorsey’s first-ever tweet has been sold for the equivalent of $2.9m (£2.1m) to a Malaysia-based businessman. The tweet, which said “just setting up my Twitter” was first published on March 21, 2006, and was auctioned off by Mr. Dorsey for charity. Yes, you read that right. If you’d like to know much your first tweet is worth, you can mint it as an NFT.
In the wake of this NFT buzz, many Nigerian creatives are yet to take advantage of the opportunities that the it offers. One of the major reasons is the lack of awareness, and the other is the know-how – the reason for this article. We will explore how you can mint NFTs on the marketplace. The process of creating an NFT is called minting. Minting can be done on several platforms including Rarible, Super Rare, Foundation, among others.
Here is step by step on how you can create your NFT
Step 2: A pop-up opens and asks you to pick between single or multiple. Click on single if you want it to be a one-off sale as a unique NFT or multiple if you still want to resell over and over again. Choose your NFT specification, either single or multiple.
Step 3: Upload the image of your NFT and input the description of the item. Then, proceed to click on create the item.
Step 4: You will see a pop-up requesting that you connect your wallet. If you are using a PC, download the metamask wallet extension and add it to your browser. Set up your metamask wallet and connect it to your Rarible. Be sure to keep your 12 words seed phrases safe.
Before your item will be published on Rarible, you will need to fund your metamask wallet with Ethereum(ETH). Ether is used as a gas fee to upload your NFT on the NFT market.
To fund your metamask wallet, you need to purchase Ether from any cryptocurrency exchange platform such as Buycoins, Binance, or any other exchange that works for you. Then, transfer the Ethereum to your metamask wallet address. Follow the prompt to list your NFT on the platform. Interested individuals will bid for it, and it will be sold to the highest bidder.
Nigerian creatives need to maximize the opportunity that comes with the NFT buzz. You can make millions off your work in the NFT market and still be paid royalties anytime your work is sold to another person. You are the expert, so don’t think your idea is not good enough. Don’t downplay yourself. The market is big enough for everyone to win, and you too can win.
Follow the steps outlined above to get your work out there into cyberspace, and get monetary value in return. If you have any issue while following the steps above, drop a comment, and you will get an almost instant response. If other creators can sell tweets, selfies, music, art, video, meme, GIFs, and other content, you too can sell your works as an NFT.
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