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NFTs are a very lucrative blockchain innovation, sometimes selling for colossal value. The top 10 most expensive list is currently led by ‘Everdays: the first 5000/days’ created by Beeple. It sold for a whopping $69.3 million! That’s quite a sum for any form of art, let alone digital art.

It’s not surprising that many would love to jump into the NFT scene and create the next big thing. The possibilities are limitless, but how to go about it has always been a misnomer for most wannabe NFT makers. Read on to learn more about how to go about it.

Disclaimer: Difference Between Making and Minting

Before delving deep into the details of making an NFT, the article shall iron out a potentially confusing use of terminologies. Creating a Non-Fungible token by asset tokenization with the help of NFT marketplace platforms is called minting. It is pretty simple, even for someone without a coding background.

There are two main steps involved in the short stance on how to create an NFT. First, we need to determine if our token is non-fungible or fungible. And second, once we decide that our token is non-fusible, we’ll want to write code that creates the specific representation in the ERC721 standard. There are many ways of creating an NFT. Below are some options, along with the pros and cons of each approach.

The JSON Web Key (JWK Algorithm):

Pros: Easy to implement, requires no new technology. Cons – Not very flexible, does not allow for dynamic data. Example JWK algorithm

The Hashgraph Algorithm:

Pros: Allows for dynamic data: Cons – More complex to implement.

The Ethereum Name Service (ENS):

Pros: Flexibility allows for dynamic data. Cons – Requires new API calls. Example ENS

Making an NFT is a specialty of blockchain developers and coders. It involves the heavy use of blockchain and programming know-how to design and launch one. Of particular emphasis during the making of NFTs are the tokens’ traits of uniqueness and invisibility. Below is a deeper look at how you can create an NFT.

Choose The Prefered Blockchain

The first step for any NFT digital creator or developer is the selection of a blockchain. The fact is that not all blockchains out there support NFTs. The unique tokens rely on smart contracts for authenticity and governance, which ostracizes quite a several big blockchains such as Bitcoin. Below are the top choices and their requirements, as well as unique selling points

Ethereum 

The most popular choice for NFT creation is Ethereum, which is concurrently the parent of the smart contracts-based DeFi. The blockchain is also the 2nd largest by market cap, providing high liquidity levels and a large and vibrant NFT community.

Within the blockchain, all NFTs are based on the ERC-721 token standard. An NFT digital creator should familiarize themself with their requirements and use cases.

Cryptography is a skill one must grasp, which also applies to making NFTs on any blockchain. The Solidity programming language plays a vital role in NFT making in Ethereum and virtually all crypto and blockchain development. Since a significant portion of NFT-bound traffic in Ethereum is web-based, web programming skills are another necessity. They include Javascript, CSS, and HTML.

Solana

The Solana blockchain is one of the top choices for NFT developers, increasingly positioning itself as a leading competitor for Ethereum. In addition to NFT marketplaces, the blockchain platform offers good access to DAOs alongside many other specialized developer tools.

Any NFT maker on Solana must specialize in a few additional programming languages. The first is Rust which is an intermediate object-oriented programming language. The others are C and C++, two indispensable languages for on-chain programs that run on Solana.

Choose Between Employment and Owning a Project

The next choice that must be taken care of is critical where revenues are concerned. One can earn a lucrative salary working on a contracted project or developing a project from scratch.

Employment

The salary for NFT developers is very lucrative, a top driving factor for those wishing to learn the skills outlined previously. But one must know where to scout for the respective jobs after developing the required NFT developers’ skill set, which can be blockchain specific.

LinkedIn is a top site for those seeking jobs to make NFTs. The site’s advantage is that one can create a profile outlining their skills and experiences, after which they could state they’re seeking employment. So as their scout for possible employment opportunities, potential employers also see them as they search for their NFT developers.

Niftyjobs, explicitly tailored for NFT jobs, is a very conducive platform for developers. Jobs are categorized as per the needs of the employers. One can find the physical address, the nature of the employment contract, and the role to be played in the advertised position.

Developing Own Project

The other option for making NFTs involves owning the project itself. It is a more involving process with more risks, but it may be more rewarding in the long run.

After settling on the preferred blockchain, one should scout for a development team or co-founders. It helps when everyone specializes in a specific aspect of the NFT development process.

Depending on the blockchain in question, the making of NFT takes place per the required skills. While Ethereum and Solana have their specific programming must-haves outlined, there are many other blockchains to choose from out there. One should familiarize themselves with their requirements. The assets to be tokenized should be developed or made available by taking ownership.

The next step involves tapping into the selected blockchain’s NFT marketplace. Tradability is critical for generating earnings from the project. OpenSea, the largest NFT marketplace, is a top choice for many.

Link One’s Wallet

Whether the NFT making is under an employment contract or a project owned by its developer, wallets are a necessary attachment. For employment contracts, they offer a means of receiving payments for work done. Some project owners even offer developers some NFTs as payment packages.

For a developer owning the NFT project, it does more than act as an avenue for receiving payments for NFTs sold. It’s crucial to show the original owner and monetize the NFT concerning the preferred blockchain’s native token.

How Do I Sell My NFTs?

Once we’ve created our NFT, the next step is determining where we will sell our NFTs. We have three main choices.

Centralized Exchange: A centralized exchange facilitates the sale of non-fungible assets. Examples of centralized exchanges include Binance and Coinbase. Pros: Centralized marketplaces provide greater liquidity. Cons: Centralized exchanges give rise to trust issues since there is only one way to get assets onto the platform.

Decentralized Exchanges: Decentrally traded platforms operate similarly to decentralized exchanges. However, they are run by companies instead of individuals. Examples include OpenSea and Uniswap.

  • Pros: Decentralized platforms increase security since multiple independent nodes are responsible for keeping track of transactions.
  • Cons: Decentralized marketplaces lack liquidity and might take longer to process transactions.

ICOs: Initial Coin Offerings are essentially unregulated securities sales used to raise capital for startups. Since ICOs are unlicensed and unregulated, anyone can invest in them regardless of their reputation. As a result, there is little recourse available if something goes wrong. If you choose to participate in an ICO, you may want to consider investing cautiously.

If you decide to go ahead with ICO, you should research carefully before investing. You should know whether the team behind the project has already raised funds in previous rounds. It would be best if you verified that the company could complete the product. Finally, you should be aware that you may lose your investment.

In Conclusion

The making of NFT is a lucrative undertaking that continues to attract many developers. The first step for anyone wishing to be an NFT developer is choosing the preferred blockchain, which inadvertently dictates the required skillset.

The next step involves deciding whether to opt for employment on an NFT project or to develop and own a project. For employment, several job platforms play an essential role in marching work with skills, as outlined in the article. Developing one’s project will require getting a development team and several other steps explained in the piece. The last crucial step involves linking a wallet to the project.

An NFT Marketplace website is an important hub for painters, art lovers, auctioneers, and painters. These marketplaces have presented great opportunities, especially when art museums and gallery doors are closed from organizing auctions and in-house artwork selling.

The NFT marketplace is without a doubt lucrative, and it’s up to you to think of how you can profit from this trend. One such opportunity is coming up with an NFT marketplace. In 2021, NFT sales totaled $24.9 billion, up from $94.9 million in 2020. The purchase and selling of NFTs have led to the advent of entirely new websites, and NFT marketplace design is ultimately a new task for web designers and developers.

If you are looking to design an NFT website, here are five things that are a must-have for an NFT Website.

About Page

The About page provides basic information about your NFT website. Visitors who go to this section have various questions, but their main objective is to find out why they are on that site or need to be on it. This section may also be referred to as “About Our Company,” “Our Story,” or “Our Vision.” Some businesses also choose to include a roadmap on this page to inform the visitors about what they can expect.

A good website is a key to ensuring your project is successful and well marketed. Yes, you may have a massive community. Still, if these followers visit your website to buy and have an awful experience, they will not buy. The “About” section is where you have to wow your audience. It should tell people who you are and why they should invest in your project.

Your NFT website About page should answer these 5Ws:

  • Who are You?
  • What do you do?
  • When did you start creating or selling NFTS?
  • Why should people trust or invest in your project?
  • Where are you?

Meet the Team Page

When visitors go to your site and click on the “Meet the Team” link, they would like to feel what your team is like after browsing through this page. Typically, your most vital asset in business is your team. This page is sometimes referred to as an extension of the about page. It’s all about introducing your workmates or employees to the visitors. The factors contribute to the success and development of your project.

This page helps enhance visitor trust through transparency and a sense of belonging. Thus, whether your NFT project is still new and the team is relatively small or large, there are great “meet the team pages” that can help your team page communicate a brand, personality, and culture.

A great meet the team page should check off all these characteristics:

  • It includes quality images or graphics
  • It has personality
  • It highlights your team in a professional and unique way

Collection Page

Whether an art, tweet, message, etc., on sale, you have to create a collection first to place any digital asset. A collection typically showcases various assets that may have similar attributes. Planning is vital for the successful creation of an NFT collection. Here’s how you can create a personalized NFT collection.

When making an NFT collection, pay attention to design, select the right style and ensure the colors compliment each other to produce a captivating design. There are numerous web templates ready for use that make it easy to upload your pieces of art or NFTs. In the end, visitors can access and view your various projects and website’s products.

Rarity Calculator

NFT rarity is a vital (possibly one of the most essential) factor when evaluating an NFT. An NFT rarity determines how rare an NFT is, thus how valuable it is. The most sought NFTs are the rare ones that hike their price. This is why potential buyers need an NFT calculator.

Rarity score is the standard for determining NFT rarity. Still, it’s a complicated mathematical process that no one wants to go through. Fortunately, there are various investment tools like rarity tools, HowRare.is, etc. They can aid you or your website visitors in finding the rarity score of your collectibles.

Rarity tools also rank NFT projects depending on their transaction volume, user number, and average transaction cost within the past one week. As you already know, do your research before making any investments to determine if the tool you buy offers what you need.

Buy Now/Subscribe Options

Lastly, you should move your buyers or prospective buyers through a frictionless purchase process. Most customers often prefer a simple purchase as fast and easy as possible without the hustle of navigating through third-party websites. Streamlining the experience for your customers will guarantee you have return buyers hence increasing your total revenue.

When moving prospective buyers through the buying process, you don’t want to scare them off at the last minute by asking them to make a payment through third parties. It’s tedious, to say the least, and also damages the hard-earned trust of your customers.

Additionally, you could consider a subscription model on your website. This model gives your customers the chance to buy your projects regularly instead of a one-time purchase. There are weekly, monthly, and other frequencies that work for different customers that you can offer. The subscribe option will also help inform potential buyers about every time you add a new project.

The best subscription models are grounded on their customers’ needs. The best way to determine that is by analyzing what these customers are more inclined to purchase. This way, you will always have recurring buyers.

Before You Go:

There is a lot more to successfully selling out your NFT. However, a great website is an absolute necessity for a successful launch. You have the tips for creating a great website, so there’s nothing that can stop you now. Do not compromise on security, simplicity, load time, and content. All these factors will help you easily develop a user-friendly and operational website.

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