INTRODUCTION TO NFT

İsmail Erim GÜLAÇTI, Ph.D.

Department of Industrial Products Design
Faculty of Art and Design
Yıldız Technical University
HOW TO CREATE
AN NFT
 HOW TO CREATE AN NFT
• Step 1: Create a Piece of Art

• Step 2: Get a Crypto Wallet and Add Some Crypto

• Step 3: Pick a Platform to Sell On

• Step 3A: Pick a Blockchain

• Step 4: Minting Your NFT

• Step 5: Selling an NFT

 Step 1: Create a Piece of Art
• The first step is to have or make something that can be
turned into a non-fungible token.
• There are a lot of options here, from video game items
to memes, but for the purpose of this course, we’ll be
working with digital art.
• In this case, the first step is to create one. We’re not
artists: This part is up to you.
• In the end, though, it doesn’t really matter what you
want to turn into an asset, as long as it can be fit into
some kind of digital format.
• PNG seems to be the most popular for visual art.
 Step 1: Create a Piece of Art
• Some useful websites and • Inkscape
software are: • SuperMe
• Kleki • MediBang Paint Pro
• Sketchpad • MyPaint
• Canva • GIMP
• NFT Creator (iOS only) • 8bit Painter
• Krita • Wombo
• Sketchar • Infinite Painter
• GoArt • Bomomo
• Pixelchain • Sumopaint
• Nifty Ink • Vectr
• Fotor
• Voxedit
 Step 2: Get a Crypto Wallet and Add Crypto
• The next step is also quite brief: you need to
make sure you have a crypto wallet and load it up
with the currency your platform’s blockchain
uses.
• The only way to create, buy or sell an NFT is to
have a wallet and to have a ether in it, so you
can’t avoid this step.
• The reason you need to have a wallet is to be
able to receive funds, while you’ll need to buy
some crypto of your own so you can pay any gas
fees associated with putting NFT transactions.
Step 2: Get a Crypto Wallet and Add Crypto

•MetaMask is a cryptocurrency wallet

used to interact with the Ethereum
blockchain. It can be accessed
through a mobile app or through a
browser extension.
•MetaMask supports iOS, Android
native apps along with Chrome,
Firefox, Brave and Edge browser
extensions.
 Step 2: Get a Crypto Wallet and Add Crypto
• Step 1: Download MetaMask wallet
•Go to https://metamask.io/
and click on “Download”.
Choose your preferred browser
or mobile application and
install the MetaMask
extension.
Step 2: Get a Crypto
Wallet and Add Crypto

• Step 2:
MetaMask
wallet
installation
• Click the
MetaMask
extension and
click “Get
Started”.
Step 2: Get a Crypto
Wallet and Add Crypto

• Step 2:
MetaMask
wallet
installation
• You can
import an old
wallet or
create a new
one.
Step 2: Get a Crypto
Wallet and Add Crypto

• Step 3: How to create

a new MetaMask
wallet
• Click “Create a
Wallet” and on the
next window, click
“I agree” if you
would like to help
improve MetaMask
or click “No
Thanks” to
proceed.
Step 2: Get a Crypto
Wallet and Add Crypto

• Step 4:
• Create a
strong
password
for your
wallet.
Step 2: Get a Crypto
Wallet and Add Crypto

• Step 5:
• Click “Click
here to reveal
secret words”
to show the
seed phrase.
• Securely store
the seed
phrase for your
wallet.
• Click “Next”.
 Step 2: Get a Crypto Wallet and Add Crypto
• MetaMask requires that you store your seed phrase in
a safe place. It is the only way to recover your funds
should your device crash or your browser reset.
• I recommend you write it down. The most common
method is to write your 12-word phrase on a piece of
paper and store it safely in a place where only you have
access.
• Note: if you lose your seed phrase, MetaMask can’t
help you recover your wallet and your funds will be
lost forever.
• Never share your seed phrase or your private key to
anyone or any site, unless you want them to have full
control over your funds.
Step 2: Get a Crypto
Wallet and Add Crypto

• Step 6: Seed phrase

confirmation
• Confirm your
secret backup
phrase by
clicking on each
word in the
order in which
the words were
presented on the
previous screen.
• Click “Confirm”
to proceed.
Step 2: Get a Crypto
Wallet and Add Crypto

• Step 7: Your
MetaMask wallet
has been set up
successfully.
• You can now
access your
wallet by clicking
on the
MetaMask icon
at the top-right-
end corner of
your preferred
browser.
 Step 3: Pick a Platform to Sell Your NFT on
• You need to pick where to• Some most well-known
sell your NFT. This can be a platforms are as follows:
tricky choice, as different • OpenSea
platforms charge different • Axie Marketplace
fees, let you set different • Larva Labs/CryptoPunks
terms, and may even
specialize in different types • NBA Top Shot
of NFTs. • Rarible
• Most importantly, they can • SuperRare
also offer different • Foundation
blockchains to place your • Nifty Gateway
NFT on, which can affect the • Mintable
gas, security and usability of • Theta Drop
your NFT for different
people.
 Step 3: Pick a Platform to Sell Your NFT on
• Going over all these differences in a single lesson is simply
impossible. Instead, I’ll touch on the two biggest platforms,
OpenSea and Rarible, and how they handle sales.
• Both of these are popular options to choose from. If you
don’t like either of these options, though, there are plenty
more to choose from.
• Among the things you should keep in mind when choosing
a platform are the legal side of things: some platforms will
present you with a contract where you gain the copyright
along with the NFT, while with others it stays with the
original maker.
• Another issue is which blockchain you want your NFT to be
on as blockchains might have different properties and gas.
 Step 3A: Pick a Blockchain
• Besides their size, the other reason for using these two
platforms as examples is because they support more
than one type of blockchain. Practically all
marketplaces will offer Ethereum first and foremost.
• OpenSea lets you use Ethereum and Polygon whereas
Rarible currently supports Ethereum, Flow and Tezos.
• Each of these other blockchains has its own advantages
and disadvantages over Ethereum.
• Usually—not always—their main advantage is that
they’ll be cheaper to than Ethereum.
• This is because Ethereum requires you to pay “gas” in
each and every transaction.
 Step 4: Minting Your NFT
• It’s time to upload your NFT to your wallet and get it
ready for sale—again, the wallet you’re using may
change depending on the platform you pick.
• Uploading an NFT to the blockchain is known as
“minting,” and it’s a pretty simple step overall. Rarible
and OpenSea both have roughly the same process
here.
• Following the instructions on your NFT marketplace’s
website, you will upload your NFT into your wallet,
add details like the description and a number of
others—and then that’s pretty much it.
 Step 5: Selling an NFT
•On most platforms, doing so is as simple
as hitting a button that says “sell” on
whatever NFT you have in your wallet.
•In practically all cases, you have a few
options on how you want to sell your
NFT. These usually fall into one of three
categories: fixed price, English or Dutch
auction, unlimited auction or bundles.
 Step 5: Selling an NFT
• A fixed price is the simplest to explain:

• You put your NFT up at a certain price and you

wait for somebody to pay that amount.

• OpenSea lets you put a time limit on this price if

you want, but other than that it’s the same.
 Step 5: Selling an NFT
• An English auction is also relatively common: In a
certain time span, which you can decide,
potential buyers will bid on your NFT. When the
time limit expires, the highest bidder receives the
NFT. You pay gas in case your NFT is not sold as
you keep the network busy.
• A Dutch Auction is where the price of an NFT
starts high and then slowly falls over time. The
first person to accept the price buys the NFT.
There are no bids unlike in the English auction.
This method takes the advantage of FOMO. Once
someone buys the NFT, the auction is over.
 Step 5: Selling an NFT
• An unlimited auction is an auction without
a time limit, the seller simply decides when
they have received what they think is the
best offer and ends the auction. You pay gas
in case your NFT is not sold as you keep the
network busy.
• A bundle is a group of NFTs sold as a
package. You can group your NFTs in any
way. Usually, platforms only offer fixed price
option for bundles.