It is known as NFT as any digital element (photo, video, text, etc.) hosted on the technology blockchain or network of blocks, which gives a certificate of authenticity to the hosted product.
It should be remembered that NFT stands for Non-Fungible Token. The latter means that it is something unique and as such, unrepeatable. If, for example, the NFT of a photo is created. That particular NFT is unique because it has a seal of authenticity, a unique ID on the blockchain. Digital copies of that photo could eventually be made, for example by means of screenshots, but those copies will not be NFT and will not have that seal of authenticity.
By way of comparison, it is the same difference that there may be between an original painting by Picasso that bears his signature and the millions of reproductions that can be made which are just that: copies, which were not created by the author and do not have his seal. Here, the seal is given by the blockchain.
What is the use of creating an NFT? In the first place it serves to learn to know a little more about the technology that continues to advance. In fact, Instagram recently announced that it will allow users to share NFTs on their profiles and stories. In January, Twitter enabled this option, albeit on a limited basis, for users of its premium service, Blue.
Besides, It can be a way to generate money, since once the NFT is created it can be auctioned and obtained cryptocurrencies. This can be a good form of income for content creators of all kinds, including artists such as musicians, photographers or video editors among many other options.
How to create your own NFT
The first step to create an NFT is to generate a user on a platform for this purpose. One of the most used is OpenSea that in addition to allowing the generation of the digital token, works as a market place where the product can be auctioned.
By entering OpenSea, the site will prompt you to add a digital walletl. In case you do not have an account on such a platform, then you can select one of the options listed on the site. Metamask is usually recommended, which is one of the best known and easiest to use. It has a version for Chrome, Firefox, iOS and Android.
When the wallet is configured, a password will be added, as in any other account and also, a 12-word recovery phrase will be automatically generated. Those terms are what is known as seed phrase and it is a way to support the digital wallet. They must be stored very well since if at any time the password is forgotten or for whatever reason access needs to be regained, those 12 words will need to be entered in the order received.
Once this is done, click on the option Create within Open Sea and proceed to fill out the form that will appear below. The first step is to upload the file you want “minting” or converting to NFT.
In the case of OpenSea it can be an image, audio, video or 3D model. If you want to mint a tweet, then you can use the Valuables platform, which is specifically for that purpose.
Once the content is uploaded, it needs to be given a name and a collection needs to be created in which that material will be and others that you want to add.
The system will prompt you to add a description of the item, properties (there is a drop-down menu to add options), and that a reference page of the user who is creating the NFT be included.
Then you are asked to choose a block network in which the token will be generated. The first option that appears is Ethereum, but if this alternative is selected, it will be necessary to have some balance in crypto to pay what is known as the gas fee, which is the cost of uploading that file to the blockchain and can vary. depending on network congestion. The value ranges from 70 USD.
To generate the NFT without that cost, you have to select the Polygon network, a protocol that works through a sidechain or side chain that connects to ethereumwith the benefit of saving on the gas rate and offering greater processing.
Once the network is selected, you have to sign the creation, following the steps on the screen and at the end, the NFT will have been generated. To market it you have to press the button that says “sell” (sell) in the upper right margin.
Then you must choose a time during which it will be auctioned and the value it will have. When it is done, OpenSea will keep a 2.5% commission.
How to Configure Metamask for Matic (Polygon)
In case you have chosen polygon as blockchain, When putting the item up for sale, you will need add that network to the Metamask wallet.
To perform this operation, you have to press on the fox icon, in the case of being in the browser or, enter the app from the mobile. Then you must enter the icon that is in the upper right margin, at the height of the image of the fox and press there.
A menu will be displayed. Go to Settingpress that option and then enter networks.
Within networks press the option that says Add network.
Then a menu will be displayed to manually enter the network data. These data are published on the official Polygon Mainnet site and can be consulted here.
There you will find the data of the network name, the URL address, the identifier of the chain, etc. It is important to keep in mind that you must enter what appears on the official site mentioned above and not information that comes from another route because, as the warning on the screen indicates, it could be erroneous information with the aim of redirecting content or funds to another account. .
At the end of this process, you can proceed to sign, as indicated on the screen and that is the final step of the process of putting the NFT up for sale.
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Bart Simpson-style: a young man sells his “soul” as an NFT
Source-www.infobae.com