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5 Tips of Creating an NFT Based Website

Non-Fungible Tokens (NFTs) sell for millions of dollars and they have attracted the attention of investors, art lovers, gamers and tech enthusiasts from all over the world. Now everyone wants to own an Non-Fungible Tokens. Nevertheless, not all Non-Fungible Tokens fetch a high value.

The price that your non-fungible token gets depends on your Non-Fungible Tokens marketing strategy, which is created by Non-Fungible Tokens experts who build a community of users in the digital space, reap numerous influencers, leverage content marketing and use social media to encourage more bids. Higher bids lead to a better NFT selling price.

Advantages of NFTs:

• For gaming enthusiasts, art lovers or creative people, Non-Fungible Tokens are an additional source of income.
• Sellers can directly connect with audiences. Therefore, the need for agents and intermediaries is reduced.
• Non-Fungible Tokens give you the power to retain ownership of original artworks or digital collections.
• If you can buy a Non-Fungible Tokens at a reasonable price, you can sell it later when the market is high, leading to huge profits.

Disadvantages of NFTs:

• Most people do not understand block-chain Non-Fungible Tokens. Therefore, the chances of making mistakes and incurring losses are higher.
• Non-Fungible Tokens run on DApps, which are controlled by block-chain. DApp stands for decentralized application, meaning that these apps do not run on a central server owned by companies such as Google and Facebook. Instead, they run on a peer-to-peer network like Block-chain. Therefore, creating a DApp is time consuming, tricky and costly.
• Buying and selling Non-Fungible Tokens can be risky. People buy a Non-Fungible Tokens in the hope of selling it at a later time for huge profits, but if the market collapses, they have to bear a huge loss. Hence, trading Non-Fungible Tokens is a risky affair similar to the share market. You should play only if you can afford the risk.

Pick your item
The first thing you have to do is to pick the artwork. NFT can represent any digital file. You can make an NFT of a digital painting, a text, a piece of music, a video. Literally, anything that can be reproduced as a multimedia file. After all, the Non-Fungible Tokens game is all about turning digital artwork into “unique” pieces in the age of their infinite reproduction.

Choose a marketplace
Now that you’ve got everything in place, you need to pick a marketplace where you will physically create and then list your Non-Fungible Tokens. 

The most popular ones are Mintable, Rarible or OpenSea. For the sake of this guide, we will pick the last one because it is free to join and has no moderation on the content you can list. Which means you don’t have to be approved as an artist to be selling on the platform? But this also means that the marketplace is full of digital sundries nobody’s ever going to buy.

OpenSea, click on the user icon, then on “My Profile”. On this page, you can choose how to connect your ETH wallet to proceed. If using MetaMask, you can connect it to the platform by selecting Use a different Wallet and then clicking on Wallet Connect. The procedure is relatively straightforward. Follow the platform’s prompts, and then confirm the Wallet Connect operation from your MetaMask app.

Create the NFT
once they have connected the ETH Wallet to OpenSea, you can go on and create your first NFT. Click on Create in the top menu, and create a collection. Fill in all the information needed, then save. Now you are ready to start the actual minting process of a new Non-Fungible Tokens. Click on New Item, load your artwork, and give all the details you want about it. Once they’re ready to pull the trigger, click creates. To sell it on OpenSea, though, you have to open the newly-minted item in your collection and click on the sell button. On the selling page, you will be able to choose the Ethereum tokens you will accept as a payment, if you want to sell with a fixed price or at an auction, and the royalties you want to receive from the first and subsequent sales.

Have some Ether handy
Once they have selected digital asset, it’s time to get some Ether. You can make Non-Fungible Tokens on a bunch of different block-chains, but for the sake of simplicity, we will consider you are going to use Ethereum. That’s the most popular one, and the most prominent Non-Fungible Tokens marketplaces support it. Minting a Non-Fungible Tokens could cost money. Therefore you will need an Ethereum wallet with some Ether (the crypto-currency based on Ethereum) on it. One of the easiest to use is also called “MetaMask”.

You can download it as a free app Android /iPhone on your smartphone. The price requested to create the Non-Fungible Tokens is highly volatile. Have up to 100 worth of Ether, but be aware that the minting process could cost you even more, based on the daily operational price. If you’ll mint your Non-Fungible Tokens on OpenSea, though, the process is free because of the type of token the platform will create, but you still have to connect a wallet to create an account.

Profit
So you’ve created an NFT, and you’ve listed it successfully on the OpenSea marketplace. Waiting until someone notices your precious token won’t get you very far. You will have to market the object yourself, possibly to an existing community of people that would be interested in your work. That’s the most challenging part, and has nothing to do with the artistic process itself.