How to Create Non Fungible tokens (NFTs) on Opensea on Ethereum or Polygon (matic)
Updated: Jan 4
Non Fungible tokens (NFTs) reached peak hype in April 2021 in August 2021 have enjoyed another resurgence. Digital Artist's such as Beeple making as much as 69 million dollars for a jpeg image file. We are here to learn some essential information about how to Create an NFT as a Creator. As a Creator there are potentially a lot of benefits if you can mint and sell your artwork. Cryptocurrency technology can certify you are the original owner on the blockchain and continue to compensate you. There are no guarantees, but you are here to learn so we are going to get straight into it.
What Digital Assets can you sell as NFT's
You can sell anything digital from contracts, tweets, but we are going to focus on primarily digital art like Image, Video, Audio, or 3D Model. We have created our own NFT's in video, image, and audio format so far .Here are the technical specs for Opensea. Opensea is the largest NFT platform on the Internet as of September 2021. File types supported: JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF. Max size: 100 MB
How do you create an NFT?
Basically you can create anything in the support file formats under 100mb JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF. As a creator you are more likely to create a Video under 100mb or an image. You do have the option to offer unlockable content once someone purchases the NFT through an external link to somewhere else. You can use any video or image program. We have some video tutorials sharing how to create an NFT with final cut pro and premiere pro. One caveat is that you will need an MP4 file. If you use Final Cut pro you will need to convert your .mov to an MP4. There are multiple ways to do this. So far we have used Adobe Encoder to successfully convert our video file. Some other options include Compressor on Mac and Adobe Encoder. A free options is handbrake.
What are Ethereum Wallets & Where do I get Ethereum?
Ethereum is currently the second largest cryptocurrency by market cap and is what powers Non Fungible tokens (NFTs). In order to mint your NFT's you will need an Ethereum Wallet and you will need to purchase Ethereum. We recommend the Fortmatic Wallet, but Metamask seems to be the most popular option. You can purchase Ethereum using your credit card from your wallet. We suggest downloading an ethereum calculator or just google ethereum convertor to assit. You will most likely find that it's cheaper to buy your own Ethereum and transfer it to your ethereum wallet, but it can be more tricky. We recommend crypto.com if you choose to buy your Ethereum direct. We both get $25 when you sign up and many of my tutorials are based on this app. Keep in mind that there is a small fee about .01 eth or about $18US for each ethereum withdrawal so factor that in and withdrawal enough. When you are ready to mind you will get an estimate on how much is needed. My partner and I have also created a Cryptocurrency Online Course that will teach you Crypto and how to mint an NFT that will cover how to buy ethereum and transfer it to your wallet.
Can I mint on other Blockchain's like Polygon and what is Gasless Minting?
yes you can now mint on the Polygon (Formerly MATIC) Blockchain on Opensea. This is a new feature that allows a user to create, buy, and sell NFT's without incurring transaction fees. Polygon is a new addition that allows gasless minting and lower transaction fees in general, but is a smaller blockchain network when compared to ethereum.
Should you mint your NFT on the POLYGON or ETHEREUM Blockchain?
Should you mint your NFT collection on POLYGON or ETHEREUM. Well the Ethereum blockchain seems to attract for sales volume and probably the buyers with deep pockets for now (Jan 2022). It’s still early and why couldn’t you mint you NFT collection on both blockchains?
What can you Sell?
It's really limited to your imagination, and you can unlock additional content to the NFT owner. The beauty of the NFT is that the smart contract is on the blockchain for everyone to read. You can certify ownership, the contract, the buyer, and the life of the NFT through here. You can sell anything digital from contracts, tweets, but we are going to focus on primarily digital art like Image, Video, Audio, or 3D Model. We have created our own NFT's in video and audio format so far. Here are the technical specs for Opensea. File types supported: JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF. Max size: 100 MB
Which NFT platforms can you sell your Digital Art?
I recommend Opensea.io as they are known as one of the larger NFT marketplaces that support Video files up to 100mb and don't require an invite. They also offer great free information on using their platform. Places like Niftygateway and Superrare require invites. Another platform we tried, but didn't have personal success with is Rarible. Their Video maximum file size is 30mb, which is a con for video creators. Other platforms like like Binance and Mintable have also launched their own NFT platforms and we expect this to only grow as NFT's continue to grow in popularity.
How Much will it Cost me to Mint my NFT?
It cost me hundreds of dollars to learn these little mistakes because this is such as new area. If you follow the advice in this post and in my online course you can mint your first NFT from $80-200US depending on which blockchain you choose to mint it on. You you select the ethereum blockchain it's smart to know what your gas prices as to plan are to reduce your minting fee. You can use Ethereum sites like Gasnow or their chrome extension to check the prices. Next you need to interpret these numbers. From experience it seems that 100 for standard will work out to be $100US and is what I paid. They have a schedule that you can look for when the fees are at their lowest. The good thing is that Opensea will save you money in the long run if you plan to mint more than one NFT because you just pay the network fee once. The only exception is if you decide to do an auction on opensea.
How can you learn the step by step to create an Mint your NFT?
We have created a Non Fungible Token (NFT) Beginner Friendly Online course that will show you step by step recordings that will get you to the finish line minting your NFT like I have! We will also give some background on cryptocurrency, but little theory. The course also features some of our favorite altcoins like Cardano (ADA) and how to buy, sell ,and move them. You will also learn about earning passive income with your cryptocurrency, decentralized finance, hot wallets, and hardware wallets. On the Creative side you will learn how to create Video NFT's on Final Cut Pro, iMovie, and Premiere Pro. You will also learn to mint Image NFT's on Adobe Photoshop. Lastly we cover the Opensea platform to get you comfortable creating your own collection and minting multiple NFT's
If you need a little bit more help we can give you more of a helping hand with our NFT Minting Service.