What is the Best Method to Turn Your Art into an NFT?

Art is closely associated with a particular culture or society. It can be anything from paintings and sculptures to pottery and architecture. In many cases, traditional art is passed down from generation to generation, often within the same family or community. People have always used art to earn a living. In the past, most artists were commissioned by wealthy patrons to create works of art for their homes or businesses. Today, many artists sell their work directly to the public through galleries or online.

One trend that has emerged in the early 21st century is the use of traditional media in new and innovative ways. For example, many artists have begun to use digital technologies to create paintings and sculptures. Many artists have begun to use video and photography to create installations or performances. Additionally, some artists have begun to use new media and technologies to create paintings and sculptures.

Understanding the NFT Trend and its Huge Figures

NFTs are digital assets, with each one marked as unique, and are often used to represent digital art or game assets. The game – called CryptoPunks – was created by Larva Labs, a New York-based creative studio. CryptoPunks was created in 2017, with 10,000 digital artworks available for purchase for about $100 each. Each of the 10,000 punks was randomly generated and is a one-of-a-kind digital asset.

The work of about 200 artists, including KAWS, Takashi Murakami, Shepard Fairey, and Banksy, was sold for millions of dollars. The KAWS painting went for 2,200 ETH (about $4,5 million) and the Banksy painting for 1,700 ETH (about $3,5 million).

Why Choose Blockchain as a Platform for Creating and Selling Exclusive Art?

One of the key reasons for using a blockchain platform while minting a collection of NFTs is trustlessness. Another reason for using a blockchain platform is due to the increased security that it offers. When each NFT is stored on its own blockchain, it is much more difficult for hackers to gain access to the tokens. Additionally, the use of smart contracts can help to automate the minting process and ensure that all tokens are minted correctly.

Steps to Convert Art Into a Non-fungible Token (NFT)

To convert art into an NFT the most important thing to do is to ‘mint’ the non-fungible token. To mint means to get it on the blockchain and convert it into a unique collectible. Typically there are 2 ways to convert your art into an NFT. Either use the blockchain platform to let the buyer mint from a limited collection of NFTs or you yourself mint your digital art on an NFT marketplace like OpenSea or Rarible and leave the purchase up to the user. While both approaches are suitable for different use cases, let’s compare which one should be an ideal choice and when.

Launching a Single Piece of Artwork as an NFT

Following are the steps you need to follow in order to launch a single piece of artwork as an NFT.

Choose the Blockchain and a Marketplace

The best way to choose a blockchain and marketplace for minting an NFT is to research the various options and select the one that best suits your needs. There are many different blockchain platforms and marketplaces available, so it is important to select the one that is most compatible with your project.

Additionally, it is important to consider the costs associated with minting an NFT on a particular blockchain or marketplace. While you can first choose the blockchain and depending on it choose the marketplace after checking which marketplaces support having assets on that blockchain or you can first choose a platform and then have a choice for the blockchains available.

Some most popular marketplaces for NFTs are OpenSea, Rarible, and Binance while some greatly used chains are Ethereum, Polygon, Tezos, Flow, Binance Smart Chain, etc.

Set up a Crypto Wallet

There is no one-size-fits-all answer to this question, as the best way to set up a crypto wallet depends on which blockchain and marketplace are you using and the type of cryptocurrency you will be needing indeed. For example, if you choose to have OpenSea as your marketplace and Polygon as your preferred chain, you will need a wallet that supports MATIC(Polygon’s native crypto-currency) like Metamask. Additionally, add some crypto to your wallet if the marketplace you chose requires you to pay the gas fees.

Set Up an Account on a Marketplace

To do this connect your wallet to the platform and fill in the account details to set up your account on the marketplace. Having a good viewable artist account always works like the cherry on top.

Enter the NFT Metadata

Click on the option that lets you create a non-fungible token and fill in the details and enter the name, collection, features, etc and then proceed to complete the transaction. Do not forget to opt-in for royalties on your art if you want, these are a source of lifetime earnings that you wouldn’t wanna leave.

Complete the Creation Process

The final step is to approve the transaction for minting an NFT, this step may or may not require you to pay gas fees as some NFT marketplaces have now introduced gas-free minting for your tokens which are then taken as a concern of the buyer. Pay the gas fees and authorize the transaction from your wallet.

Launching an Entire Collection of NFTs

If you are an artist who wants to launch a collection of your artwork at once it makes no sense to mint each item one by one. Some examples of such projects are CryptoPunks, Bored Ape Yacht Club, etc.  While choosing the blockchain and the marketplace remain the same here, additional steps to be taken are as follows:

Find a Developer Who is Experienced

There are a few ways to find a developer who is experienced in writing smart contracts. One way is to post a job listing on a freelancing platform. You can also search for blockchain development firms that specialize in developing smart contracts.

Work with a Developer to Create a Smart Contract

The smart contract will manage the collection by keeping track of the NFTs that are added to it and by keeping track of the NFTs that are removed from it. It will also keep track of the total value of the collection so collaborate with the developer and discuss important points.

Build a Community of Audience and Create the Hype

When it comes to building a community of fans and followers around an NFT collection, the key is to create a sense of hype and excitement. This can be done through a variety of marketing and promotional strategies, such as teasers, social media campaigns, collaborations, media coverage, etc.

Launch Your NFT Collection on a Blockchain Platform

The importance of user-friendly websites cannot be understated. In today’s economy, businesses need to have an online presence in order to compete. However, simply having a website is not enough. In order to be successful, businesses need to have a website that is user-friendly and easy to navigate. As getting used to web3 specific sites can be a little overwhelming for new users with all the strenuous tasks like setting up a wallet, adding crypto to it, and connecting the wallet to the website. With all these back-breaking tasks you do not want the users to be more frustrated just to buy your collectible.

The process of converting artwork into an NFT is fairly simple and can be completed hassle-free if the right steps are taken at the right time and technical support is taken if needed.