NFTs are an ideal way of selling artwork and building a relationship with an audience. But can anyone make an NFT?
Anyone can make an NFT on a marketplace like OpenSea. They’ll even cover the minting fees. All you have to do is follow these minting instructions:
- Send Eth to your Metamask Wallet
- Connect your Metamask to Open Sea and sign the transaction (this incurs a gas fee)
- Click create
- Upload your artwork
- Write a brief description about your project
- Include any relevant external links and social profiles
- Select your preferred blockchain
- Click “Create”
Creating an NFT on OpenSea is easy
(Alternatively, you can use other NFT marketplaces like Nifty Gateway or Mirror.xyz and create an NFT, after paying the cost of gas or Gwei.)
Caveat: NFTs you create on OpenSea aren’t “minted” onto the Ethereum or another blockchain until they’re sold or sent to another wallet. That brings us to the big issue with creating NFTs.
Only a few creators can launch and sell a successful NFT project so it mints or even mints out. Aside from NFT bluechip projects, successful projects usually come from creators like these:
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In 2021, Jack Dorsey, Twitter co-founder, created and sold an NFT of his first tweet for over $2.9 million. He gave the money to the Give Directly Africa fund.
Snoop Dogg is another avid NFT collector and creator. In early 2022, he started releasing a mix-tape based on new recordings on OpenSea. He’s also supporting the popular NFT project The Doggies
Warner Bros created history by being the first film studio to use NFTs as a marketing technique. For registered users who visited the film’s gallery, the studio gave out 92,000 NFT collectibles. The prices of each item will increase when transferred from current owners to new owners.
In March 2021, NBA Top Shot had grossed more than $500 million in sales. The NBA’s Top Shot is an organization owned by Dapper Labs and it offers a blockchain-based trading card system. This organization sold NFTs worth more than $200,000 for a single LeBron James highlight.
Many companies charter the course of charity. Companies like Charmin and Taco Bell have created a new record of raising funds for charity. The organizations auctioned off themed NFT art. Taco Bell is a fast-food restaurant chain located in the United States.
Taco Bell’s NFT art sold out in minutes, with the highest bids coming in at 1.5 wrapped ether. Procter & Gamble’s Charmin toilet paper is a popular brand in the United States. Charmin’s offering was nicknamed “NFTP” (non-fungible toilet paper), how hilarious does this sound.
Nyan Cat is a YouTube video that went viral in April 2011 and became a meme. In February 2021, Nyan Cat sold for nearly $600,000 as an NFT. Meanwhile, the popular meme Disaster Girl famously sold for $500,000! Side-eying Chloe also sold an NFT of her famous photo for $54,000.
As you can see, anyone can create an NFT by uploading some imagery, clicking mint, and paying the gas fees. However, that doesn’t mean anyone will buy it. Selling an NFT involves building hype, a community, and executing on a roadmap. It’s either that or capitalize on a trend or name recognition.