Creating your own NFTs

Investing in non-fungible tokens (NFT) is not the only way of yielding profits from them. Some people build rather successful businesses on the creation of NFTs. Knowing all the game rules, you can generate a sufficient income.

First steps

Artists, designers, and people of other creative professions massively entered the NFT market a few years ago when this field was just gaining ground. Many of them actually made enough money doing that. Now that the hype surrounding NFTs eased somewhat, it has become more difficult to sell your own non-fungible token, especially in light of serious competition. These days, the NFTs market is overloaded with projects, of which just a few become truly successful. If you want your token to thrive, you should consider its concept carefully and develop a detailed marketing plan. You can sell anything from primitive drawings in Paint to your own selfies at exorbitant prices if your project is extraordinary and catchy. In addition, you should take care of the advertising of your NFT. Remember that projects that have influencers’ support and are widely discussed in the press or professional communities are more likely to succeed.

Entering the NFT market

When your project is finished, all that remains is to choose a platform where you can create your own NFT and place it for sale. Marketplaces working with non-fungible tokens are abundant these days, with OpenSea, SuperRare, Foundation, and Rarible being the most popular ones. To place your digital file on any platform, you must have a crypto wallet as many services instantly request you to pay a commission for their services in the digital currency they accept. There are also platforms that allow you to place NFTs for free. However, they take a percentage once the token gets sold.

The process of loading a media file is akin to working with a virtual photo album. You add a digital object in the required format, name it, add a description, and click the Create button. The system creates an NFT and sends it for verification. Once the process is completed, you place your product up for auction and wait for an interested investor to appear.