Find out how to upload art onto the blockchain with this step-by-step guide
Cryptocurrency can sound intimidating. But with all the hype about NFTs, one may start to consider dipping their toes into the blockchain. As the world becomes more and more involved in the digital realm, artists are now migrating their works to accommodate investors, traders, and buyers online. One such way is through the creation or the minting of NFTs.
But what is an NFT? A non-fungible token simply means something that is irreplaceable and or unexchangeable. Compare it to real-life art: though there are copies of the famous Mona Lisa, only one true work of the Mona Lisa exists. It's much like that in the world of NFTs.
"NFTs, or non-fungible tokens, are unique tokens that work in the same way, except virtually—they are basically electronic proof that you own an authentic digital asset," explains Myla Pilao of Trend Micro. "This is essentially what people are buying when they purchase NFTs, proof of ownership of the digital file and certification of authenticity."
So how does one go about minting and creating their own works to sell? Find out below.
See also: Want To Start Collecting NFTs? Here’s What You Need To Know First
Choose a blockchain
The first step to minting NFTs is choosing a blockchain or a marketplace that will support or host your NFT. Perhaps the most popular site for this is Ethereum, though Binance Smart Chain and Polkadot are also popular. Filipino artist, Bjorn Calleja, personally recommends Tezos.
"Minting on Tezos is quite easy and affordable compared to Ethereum, we would just need a Tezos wallet (Kukai or Temple is good), minting fees are low; 1XTZ (around US$2.90) can mint you more or less six to eight NFTs," he shares.
Read up on which marketplaces you feel will be most beneficial for you and always keep in mind that different blockchains have different fees, rates, and niche buyers. Consider which will be best for the kind of artwork you wish to mint and sell.
See also: Artist Red Hong Yi On Why NFTs Are The Future Of Art