Any NFT enthusiast with a set of creative skills and a personal computer can convert digital art into NFT. Over the past year, NFT has become a big market where anyone can earn money. Here in this article we’ll go step by step on how someone can convert their digital art into NFT.
What is NFT
NFTs are called Non-Fungible Tokens. “Nonfungible” represents features such as uniqueness and non-interchangeability. In the world of crypto, nonfungibility means that one item cannot be exchanged for another.
A “token” is nothing but a certificate of validity stored on the decentralized blockchain which makes digital assets traceable and accessible to everyone. Therefore, NFT is a unique virtual currency that falls into every category usually in the shape of paintings, videos, music, collectible items in video games, or any other digital production. Do not forget to check out our ultimate beginners guide to NFTs if you want to know the basics.
Since early 2021, the NFT market has boomed where everyone is buying and selling tokens throughout the world. But few people know how to convert their digital arts into NFT so that they can earn money by selling them. Some of the most common questions asked are:
- Is it hard?
- Does one need to know how to code?
- How to sell NFT?
No need to worry as we have covered everything you need to know regarding the same. And to ease your mind, it is not a hard procedure.
What is Crypto Art
Almost every NFT is a representation of Art. It is not surprising that NFTs have gained so much popularity in such a short time as in the end they are a form of art. Blockchain technology has equipped artists to earn tens of millions of dollars by creating digital paintings, attracting people who could only dream about such a level of ease and accessibility before.
There have been quite a few high-end NFT auctions that caught a lot of public attention. In the year 2022, “Merge” became the most expensive NFT to date, worth $91.8 million dollars, by pseudonymous digital artist Pak. In the year 2021, the First 5000 Days NFT collection by artist Mike Winkelmann was the most expensive with a price of $69.3 million dollars.
Unique art pieces created by well-known artists and sold on auctions on marketplaces are what you call Crypto Art. It is surprising to see that most of the crypto art is being created by unknown talented beginners.
How to turn your art into an NFT
Every artist is thinking about whether they should convert their existing arts into NFTs, the answer is obviously yes, “Why not give it a try?” The process of turning one’s art into NFT is neither complex, costly, or technical. All one needs is a set of creative skills and a personal computer.
What one should keep in mind is that NFTs are not only comprised of digital art, but can also be a song, video, or gif. First, you need to choose which field of art suits you best and then start with it. This will be your first step toward becoming an NFT creator.
To convert your art into an NFT you need certain tools based on the field of art you are interested in. For example, if you are a graphic designer, you can use tools like Adobe Illustrator, Adobe Photoshop, MS Paint, CorelDraw, etc. If you are not a beginner, you can use three-dimensional (3D) modeling. For 3D modeling, you’ll need to use tools like Blender or Cinema 4D, etc to design animated graphics and characters that can then be converted into NFTs.
How to convert a digital art into an NFT
Coding is not required to convert a digital art into an NFT. The process of creating an NFT from digital art is what you call “Minting.” It is the process of publishing a unique instance of the token on the blockchain. Just like metal coins are created and added into circulation, NFTs too can be minted after they have been created.
After minting, a piece of digital art becomes secure and tamper-proof, as well as hard to manipulate. Once digital art becomes an NFT, it can then be bought, sold, and also tracked digitally. This is how NFT artists earn money by creating their own NFTs.
On most of the NFT marketplaces, NFT artists often add a royalty clause so that they can earn some form of passive income every time the NFT gets resold. Minting is an automated process provided by most of the NFT marketplaces.
To mint, these are the steps you need to follow:
How to choose the right NFT Marketplace
Choosing the right NFT platform is an essential part of NFT minting. Before one chooses an NFT platform they need to take into consideration many different factors such as supported file format, crypto wallet matching, accessibility to the platform for users, the price to mint an NFT, or the transaction fee.
There are quite a few online NFT marketplaces present in the crypto space. Each of these platforms works slightly differently from one other. One thing that artists must know to find out is whether the platform is curated or if it is self-service based.
Self-service-based NFT platforms provide free access to all artists. If you want to upload NFTs you need to register via crypto wallet and pay the transaction fee to mint an NFT. The most popular self-service-based NFT marketplaces are OpenSea and Rarible.
Curated NFT platforms tend to be selected toward artists. To register and start minting, you will need to submit an application with all the details about the NFT collection and your previous artistic experience. Most of the Top digital artworks are exhibited on such platforms as they have the confidence of the buyers since the artists are chosen by the platform itself. Moreover, check our in-depth guide on choosing the best NFT marketplace.
How to set up a Cryptocurrency Wallet
Anybody who wants to access the NFT marketplace, sign transactions, and manage their balances will need a cryptocurrency wallet.
Before you set up a crypto wallet you need to make sure that the wallet matches the cryptocurrency used on the NFT platform you intend to use. Most of the NFT marketplaces are Etherium based, they accept Ethereum’s native cryptocurrency Ether (ETH) as a payment.
Currently, there are millions of crypto wallet users. To choose a suitable crypto wallet you need to decide which kind of safety you are willing to have. The main types of safeties include custodial, noncustodial, and hardware wallets. A custodial wallet is also known as a hosted wallet.
Custodial Wallet is among the most user-friendly and easy to set up. A noncustodial wallet gives its users complete control of the security of their crypto as well as doesn’t rely on a third party to keep funds safe. Choose your crypto wallet wisely.
How to sell your digital art as NFTs
NFT sale is the endpoint of NFT minting. Most of the NFT platforms will provide you with the option of choosing a selling method as well as the option to set a price for your NFT while minting it. The main two ways for selling NFTs are:
- Fixed Price Sale
Fixed price sale is the easiest method to sell NFTs. To sell your NFT, you just need to set a fixed price. Some platforms will also ask you to set a royalty price so that you can have a passive income in case of secondary sales.
Auction is also a very good option to sell your NFT where buyers can browse and bid on your digital art. Some auctions are held online while some are offline. There are two types of such auctions:
- English auction, where the price of the art keeps on increasing. The timed auction is also a type of English auction, which is time-bound.
- Dutch auction, a decreasing price option, where the price drops until someone buys it.
It totally depends on you which path you wanna take. You can choose whatever wallet, NFT platform, etc to use. Just make sure you read and understand everything before making your final decision.