How to Create and Sell Your First NFT: A Beginner's Guide
NFTs have become a great way to realize creative potential and monetize it online.
The process of creating your own NFT might look techy and complicated, but the following guide will show you that doing it is actually quite easy.
Read on to learn how to create and sell your own NFTs.
1. Can You Still Make Money Selling NFTs?
The NFT market continues to mature and attract new participants, which means that money can be made.
Creativity, attention to trends, and willingness to put in time and effort will always go a long way, and there are still plenty of people looking to collect promising NFTs that could increase in value.
However, that will depend on the quality of your collection, your marketing efforts, and how well your NFTs will be received by the market.
2. What Do You Need to Get Started?
The starter kit of an aspiring NFT creator contains the following:
- Digital content for sale: It could be a picture, a music track, or a video, for example.
- A crypto wallet: Needed to cover fees, receive payments, and store NFTs.
- Some coins: ETH, POL, and SOL are the most popular cryptocurrencies on most NFT marketplaces.
- The place to sell: Marketplace, where the life of an NFT begins. For this guide, we are using Magic Eden.
3. How to Create Your First NFT, Step by Step
If you have all of the above ready, it’s time to create your first NFT. Promise it’s super easy!
3.1 Set Up Your Wallet
You can choose whichever NFT wallet fits your needs best.
We will use Magic Eden Wallet in this guide, which you can download from the Magic Eden website.
Initially, you only have to create a strong password, but we can’t stress enough the importance of backing it up via a unique security phrase.
Upon re-entering the password, the pink button saying “Go to Magic Eden” will appear: this is your gateway to the exciting world of NFTs.
3.2 Connect Your Wallet to Magic Eden
Firstly, navigate to the “Log In” button in the top right-hand corner. Click or tap on it to begin connecting your wallet to the NFT marketplace.
Next, you will be asked to choose a particular chain to connect to: Ethereum, Solana, or Bitcoin.
We’ll be using EVM for the purpose of this guide, but we encourage you to consider other blockchains as well.
Now, all that’s left is to finalize the process by clicking on “Continue with Magic Eden.”
The last step at this stage is to fund it with some ETH, or other crypto, depending on the blockchain of your choice, to cover the gas fees, and you are all set to create the first NFT on Magic Eden.
3.3 Mint Your NFT
Click on “Create” in the main menu and then on “Create New Collection” in the submenu.
Here, you will have to choose the chain and fill in the form, which won’t be time-consuming, especially if you already have the artwork, the name, and the engaging description for your collection.
We have come to the crux of this guide: setting up the price of your first NFT along with other details, and publishing it on the blockchain of your choice.
FYI: Royalty fees are a small percentage of the resale price that automatically goes to the original creator every time their NFT is sold again.
Next, input the maximum supply and the mint limit per wallet: a restriction put in place by the creator of the NFT collection to prevent a single person or entity from buying a very large number of NFTs right at the beginning of the minting process.
We are almost there: set the start date and time for the mint, and then click on the “Public Mint” box to set up a stage duration.
All that’s left is to click on “Publish on Ethereum” (or the blockchain of your choice) and pay the minting fee, which varies depending on the chain, and then click “Mint” to kick off the process.
4. How to List and Sell Your NFT
Once the minting is done, you will be able to find your first NFT on Magic Eden in the “Items” section.
However, that token wouldn’t be available for sale yet. Hover over the token image with a cursor, and a “List Now” button will pop up.
Clicking on it will take you to the “List Items” menu, where you can choose between price options: fixed or auction (floor) price, set the royalties percentage, and set the number of NFTs you’d like to put up for sale at this point.
At the final stage, you will have to sign the message in the Magic Eden Wallet, and your first NFT should be successfully listed.
From then on, you should actively promote the collection to increase its visibility and chances of being sold. Keep in mind that the marketplace charges a 2% transaction fee for each sale.
You can join Magic Eden’s creator hub for the tools you need for the process.
5. Final Thoughts
The process of creating and listing your NFTs isn’t overly complicated: all it takes is a few clicks and paying the network fee.
However, the selling appeal of your first token depends on your creativity and marketing skills.
On large NFT marketplaces like Magic Eden, you have tens of thousands of potential buyers–it’s up to you to make it work.
