Non-Fungible Tokens aka NFT’s have become quite popular lately, and you may be wondering how to join in on the action. Minting NFT’s is the process of creating these unique digital assets, and it can seem daunting at first.

However, it’s actually quite simple! In this guide, I’ll take you through the steps of minting your first NFT. But first let’s take it all in order

What is Fungibility?

Fungibility is a characteristic that describes an asset’s ability to be exchanged for another asset so long as both have the same uniformity, qualities and value, and are otherwise indistinguishable.

For that reason, most financial tools are fungible including fiat currencies (USD, EUR, GBP), gold, cryptocurrencies, stocks, bonds and so on. Precious metals can also be fungible, however they must be the exact same weight and purity. Gold is an exception as pure gold maintains its atomic properties no matter the physical trauma it is put through. One ounce of gold will always be equal to another ounce of gold, making it a highly fungible asset.

Fungibility in terms of fiat money exists because of the base unit of account in a currency. Take the US dollar for example. A $20 bill is worth the same as two $10 bills, or four $5 bills because they are all representative of the same quantity of US dollars. Since every dollar is equal to any other dollar, the base unit of account makes the fiat fungible.

NFTs represent immovable tokens, but what exactly does mold mean?

Okay But What Exactly Is «Non-Fungible» ?

Assets that are non-fungible include anything that can be created to have varying qualities. Such assets include things like cars, homes, trading cards, cookies, etc… But just because they aren’t explicitly interchangeable does not mean they can’t be traded for one another. For example, two car owners can trade their vehicles to one another, but even if they are the same make and model the cars will never be one for one replicas.

But if there were an agreed upon form of currency that was valuable because of verifiable characteristics (weight, form, hardness), and everyone including the wheat farmer also accepted this coin, you would now be able to trade efficiently. Thus, the coins are fungible since they fetch the same value everywhere.

NFTs are currently the hottest non-fungible item, as it’s in the name, «Non-Fungible Token».

There are no two NFTs that are exact equals of another. Even if 100% of one NFTs’ contents are copied into another it will never be original.

How to Make NFT Art?

Digital artists, who for a long time produce art and content on social media, often generate traffic revenue and ads for these great tech executives while earning small profits. With NFT, the whole creator economy is changing. Artists hold full ownership of the digital art they create, and they receive compensation for it depending on how the art world values it.

NFTs also created shortages, something that was not in the digital assets that were available online before. This inspires collectors looking for authentic and rare pieces of digital art, perhaps referring to Beeple’s 69 million record record ‘EVERYDAYS: THE FIRST 5000 DAYS’. In addition, they can reap the benefits each time a piece is sold.

Other well-known NFT art platforms are Foundation, SuperRare, Nifty Gateway and Async Art. However, well-known auction houses like Sotheby’s and Christie’s are also in the game.

Choose a Platform

The first step in minting an NFT is choosing a platform to host it on. There are several options available, such as OpenSea, Rarible, and Nifty Gateway, each with their own benefits and drawbacks. Do your research and choose a platform that suits your needs.

A frequent choice and the most popular choice among NFT artists is OpenSea

Create a Crypto Wallet

In order to login into Opensea, you do not need a username/password combo or an email. You need to login by linking the account with a crypto wallet.

MetaMask is one such wallet which you can create for free. If you do not want to download or install anything, just add this extension to your Chrome browser and get started. After adding the extension, follow the steps to get your MetaMask account by generating your passphrase and noting it down in a secure location.

It is important, if you are creating a wallet for the first time, then securely hide the passphrase and don’t forget

Create Your Artwork and Prepare Your Files

Btw This may be your first step, but once you’ve chosen a platform, it’s time to create your own work. NFT can be anything from digital art to music, video and more. Create something unique that you think collectors will like.

Before you can mint your NFT, you’ll need to prepare your files. Most platforms require that your artwork be a PNG, GIF, or MP4 file. Make sure that your artwork meets the platform’s requirements.

Mint an NFT

Now to the juicy part: Actually minting the NFT. The tough part is already over and this is quite straight forward. The process may vary slightly depending on the platform you’ve chosen, but in Opensea:

Click on the Create button near the top right corner which takes you to this interface.

On this form, first upload the piece of media that you want to convert into an NFT. It could be an image, a gif or even a piece of music

Next, provide all the mandatory information.

It is important to switch the network to Polygon from the dropdown near the bottom so that you can avoid huge gas fees.

Click Create and watch as your NFT is minted on the Polygon network in the next couple of minutes. Once done, you can view the NFT product page
And that’s it! Congratulations!

You’ve successfully minted your first ever NFT.

If you wish to sell this NFT, then click on the Sell button near the top right and follow the steps.

Promote Your NFT

Finally, it’s time to promote your NFT. Share your NFT on social media and other platforms to attract potential buyers, promote it in various forums, and let the world know about your unique digital asset.

Don’t forget to mention its unique features and why it’s one-of-a-kind! Share it on social media,

Conclusion

Minting NFT’s may seem complex, but it’s actually quite simple once you’ve done it a few times. With this guide, you’re ready to start creating your own unique digital assets and join the exciting world of NFT’s.

In the next post I will tell you how to automate minting NFT’s using the code

See you in the next one!