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What Is NFT Art And How to Make NFT Art as a Beginner
Coinboosts
March 15, 2023
Non-fungible tokens (NFTs) are gaining traction thanks to the endless opportunities and utilites they provide. This excitement has given rise to people continously searching what is NFT art and how to make an NFT collection.
In the present days you don’t have to be a programmer to create NFT art. This allows people not only to buy NFT art, but also make an NFT collection.
The following beginner-friendly guide will cover topics such as how to create an NFT collection and how to sell it on OpenSea.
Why Should Artists Create NFT art?
In the course of human history, the question of art valuation has remained a gray area. Besides wondering how to make NFT art, estimating the market value of an artwork remains a world-wide concern too. Artists can be overlooked and their job underestimated, resulting in loss of profits.
However, when it comes to the NFT world, the process of valuation is different. There are no rules to follow in terms of assessing an NFT collection’s valuation.
The metrics used for companies or vehicles, including shares, are inapplicable to evaluate whole NFT collections.
Benefits to the artists:
1. Continuous royalties
As a collection launches, the artist faces the next question - how to sell NFT art. In the art industry the creator responsible for the artwork of the collection typically receives a one-time payment to finance the cost of designing an NFT collection.
Thanks to the advances in the blockchain and NFT world, digital creators can now continuously earn royalties whenever their NFT is sold to another end user.
Artists will obtain a proportion of sales profit in a range between 2.5% to even 10%, ensuring they'll obtain interest throughout the duration of their life.
2. Inexpensive to start
The beauty of the NFT world is that it is centered in the digital world. NFT collections fully operate on the internet which makes the distribution process easy and cost-efficient.
One of the many cons of a digital environment is that you can reach your target audience without much effort. You don’t need to be concerned about which auction house or art gallery would be interested to sell your artwork and pay them a hefty amount of money from the sales for presenting your collection.
Getting online will minimize the costs and allow you to gather more profit from the online auction.
3. Authenticity
NFTs contain a digital stamp to prove ownership. Non-fungible tokens cannot be alternated for a second similar token of the exact value.
Since NFTs are administered by smart contracts and verified using blockchain, the technology NFTs use records transactions and hence, gives the consumer attestation of ownership and originality.
People can observe, link or even download your digital artwork token but it can only be owned by one individual.
The following paragraphs will give you an insight of how to make your first collection when you consider creating an NFT collection and entering the cryptocurrency space.
How to Make NFT Art - Step-by-Step
- Choose an NFT marketplace
NFT Marketplaces have two forms. An NFT marketplace can either be a non-curated or curated platform.
- Non-Curated Marketplace
The company responsible for developing the platform is not in charge of selecting NFTs to be shown on their website. That means anything is possible.
This genre of a peer-to-peer marketplace permits everyone to create an NFT collection and get it online within minutes. Artists can determine which percentage of royalty they would like to impose for each sale.
Since they are not curated and easy to use, those platforms may be linked to scammers and fraud.
Under this category you can find, for example, OpenSea and Rarible.
- Curated Marketplace
Only authorized artists are allowed to create and mint NFT tokens. To put in simpler words, established digital artists alone are permitted to sell their artwork or whatever collectible project they have.
Curated NFT marketplaces focus is shifted to selling first-rate NFT collections, excluding everything that does not fit under the high-quality category.
Those platforms have usually set higher transaction fees and leave no to little flexibility on the royalties the artist can program into their collection.
An example of a curated NFT marketplace is SuperRare.
After choosing the right NFT marketplace according to your needs, open an account and continue following the steps.
Since the article is meant for new artists, the guide will teach how to make an NFT collection using OpenSea as it has shown to be one of the most optimal platforms if you wonder how to make NFT artwork.
- Set up your digital wallet
Secondly, you need to create a digital wallet. A wallet is needed to store NFTs along with cryptocurrencies. You may question why you need to store cryptocurrencies, but the answer is simple.
Since most NFTS are created using the Ethereum (ETH) blockchain, you need to hold ETH in your wallet to pay any occurring gas fees, which is the transaction cost you must pay to start lising a token on the platform.
Several providers offer the option to set up a wallet, but OpenSea has reccomended using the MetaMask wallet. It has an easy-to-use Google Chrome extension to help you purchase ETH and get ready to mint NFTs.
Nevertheless, if you are already in possession of a cryptocurrency wallet that stores Ethereum, you can simply set up a MetaMask wallet and transfer the required NFT from the original digital wallet to your MetaMask wallet.
You may then wonder how much the gas fee is. The cost of a gas fee may vary. Typically it falls between $10 to $200 worth of Ethereum.
If you have the necessary amount, prepare for the next step.
- Create NFT collection
This stadium is not for creating the collection. It is about creating a structure to build your collection on.
On the OpenSea website, log in to your personal account and under the “My Collections” tab, start customizing the collection by coming up with a name for it.
Generate a unique description and upload a display image that describes your artwork the best. It is a necessary base for displaying the art after you have finalized the designs.
- Create a Digital Arts Token
After you have completed the collection, you can make the first teps towards creating your NFT.
Hover to Add New Item and click on it. This will give you the option to upload any metadata. It includes any visual content (PNG, GIF, JPG), audio (MP3, MP4) and even 3D files (GLB). Next, give your token a unique name that relates to your project.
Once you have filled in the required gaps, you are directed to choose the amount of tokens to be minted. It is vital to note how many copies of the exact token you wish to create.
- Edition Tokens
More than one coppies of the token can be created. Each of them will be differentiated by the edition number which you have to add yourself.
- Stand-Alone Tokens
One copy of a token can be created, making it more valuable.
After that, add any important details - properties (for example, the date when the token was created), stats and levels that are relevant to your collection because they help potentional buyers to filter the artwork of your NFT collection when they’re exploring the collection.
Do not forget to include your social media links, pictures and description and click “Create”. This step will add your token to the blockchain but first, you need to pay the gas fees (ETH) to continue.
Later, choose what kind of tokens you accept for payment. This will resemble the token that each buyer has to pay for your digital art. Furthermore, select the porportion of royalties you expect to receive on the seconday market sales.
- List Your Artwork
At this point, you have created your first NFT collection on OpenSea and can begin to think about the sales process.
To list your artwork for sale and set a price, you can choose between two options:
- Fixed-Price Listing
- Auction
If you haven’t created or sold NFTs before, OpenSea will ask you to pay a gas fee to start listing the artwork.
- Promote Your NFT Collection on Social Media
As a digital artist, OpenSea is an attractive option to create and mint an NFT. However, minting an NFT alone isn’t enough since new collections are released every day.
You need to build hype for your project and promote it to bigger audiences. As a result, the chance of selling your project will be much higher.
Include your OpenSea link on your social media channels to make it accessible to potential buyers.
Conclusion
To create an NFT collection you don’t need to be in possession of expert-level progamming skills. As the NFT industry operates online, artists can design and sell their artwork within minutes.
To make an NFT collection successfully, follow the steps provided in this article and dig into the NFT sace.
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