How to make, buy and sell NFT

Detailed view of a poster entitled “EVERYDAYS: THE FIRST 5000 DAYS” by digital artist (BEEPLE), sold at auction in Christie’s, in an unknown location, in this undated publication provided by Future News.

Guralec | Christie’s Images Limited | via Reuters

You’ve probably heard a lot about Unfunded Tokens (NFT) lately.

Beeple featured artist Mike Winkelman made a splash earlier this month when he sold NFT for $ 69 million. But people spend millions of dollars on all sorts of things for collectors, from sports trading cards, highlighters to digital homes, augmented reality shoes and music.

I will show you how to buy and sell them.

NFT is a new type of digital asset. Ownership is registered in blockchain – a digital book similar to networks that support bitcoin and other cryptocurrencies. Each NFT is unique and cannot be copied. Therefore, you can consider them as unique digital items that no one else has.

Sure, people might have a picture of a work of art they bought as NFT, for example, but they did not the original. This is what makes it attractive. And there is a possibility that, due to its rarity, you may be able to sell one later for more money. Just like you would with fine art.

You can use different currencies to buy NFT. The NBA Top Shot, for example, lets you buy it with a credit card. But other platforms require you to buy with a cryptocurrency form.

I will show you how to get into NFT mania using the already familiar OpenSea platform. I will also show you how to convert digital assets to NFT and sell them, in case you are an artist who wants to sell something.

Where to buy NFT

Well, I’ve heard of all these artists and people selling NFT. Want to start your own band? Where do you start?

You can buy for them online through various markets. OpenSea is a large gallery, you think it is an online gallery where you can browse digital art, trading cards and other collections.

It functions like an auction house, offering bids for items and hoping to be the winner, but some listings like ‘buy now’ at a certain price. I’ll show you how to buy NFT in OpenSea this way, but there are a few things we need to do first.

How to create a digital wallet to buy NFT

Install the MetaMask digital wallet in Chrome.

Before you start, you need to add money to a digital wallet that you can spend.

OpenSea uses ether, which is a cryptocurrency that you will need to purchase. Think like an arcade: go inside and want to play some games. But before you play games, you need to buy some tokens. Same idea here, but the arguments are called ether, and instead of buying a lot of token, you should probably start small with ether pieces. As of March 23, an ether is worth about $ 1,706.

Well, back to that digital portfolio. OpenSea suggests using a Chrome browser plug-in called MetaMask, but it supports many other digital wallets.

It took me about 30 seconds to install the OpenSea add-on and set a password. Let’s do it now.

  • Click on the profile icon at the top right of the OpenSea website.
  • Click “Get MetaMask”
  • Select “Install MetaMask” for Chrome (or the supported browser of your choice.) This will install the Chrome add-on.
  • Select Start.
  • Select Create Portfolio.
  • Select “No, thank you” for sharing comments.
  • Create your password.
  • Write down the secret phrase he gives you. This is very important and is your reserve for accessing your account. Do not lose it.
  • Click Next and confirm the secret phrase.
  • Click Next to link your OpenSea account to the MetaMask digital wallet you just created.
  • Click Connect again.

Well, you now have a digital portfolio associated with OpenSea. Now you need to buy some Ether which you can spend on NFT.

How to buy ether

You will need a digital wallet to buy NFT.

You can use any variety of applications to buy cryptocurrencies. Coinbase is very popular. So is Robinhood. But for the sake of simplicity, let’s use MetaMask to buy ether, as we already use it as a digital wallet and have already linked it to OpenSea.

In the last step, we have installed the MetaMask plugin for Chrome. We can use the same add-on to buy some Ether. To do this:

  • Tap the small puzzle icon at the top right of Chrome at the bottom of your URL box.
  • Click the MetaMask fox icon.
  • Click on “Purchase”. (Select “Direct Ether Deposit” if you already have some in another account.)
  • Click Continue to Wyre
  • Choose how much Ether you want to buy. There is a $ 5 transaction fee and a $ 4.88 network fee, so buy all the ether you need now to avoid extra transaction fees. You get used to these fees, there is more when you buy something.
  • Click {Next.
  • Enter your payment information and phone number.
  • Click on “Send”.
  • Enter the payment verification code you received on your phone.
  • Authorize the purchase by entering the six-digit pending Wyre transaction code into your bank account.

Now I bought some ether. In a few minutes, you will see that it is available in your MetaMask account. This means you are ready to buy NFT.

How to buy NFT

Here is a CryptoKitties NFT collector.

You are now ready to bid and buy NFT. Let’s get back to OpenSea. You can browse by clicking on “Explore”. You will find all kinds of images for sale, be they objects, sparking icons or just text sayings.

Finally, you may come across something you like. Let’s say we like an image of CryptoKitties (above) called “Zuzu Meowfluff”. It is priced at 0.005 Ether, approximately $ 8.96 at press time.

To buy it: –

  • Click “Buy Now”.
  • Select “Exit”.
  • Click ‘Send’.
  • Next, I need to confirm the “gas tariff”. This is required by the Ethereum network to process the transaction and costs me $ 18.18. The full deal ends at a cost of $ 26.68.

Now I own Zuzu Meowfluff CryptoKitties NFT.

But I do not collect this. So let’s sell it. I will show you how to make and sell your NFTs as well.

How to create and sell NFT

Sell ​​NFT for a photo of Porto, Portugal I made.

You have some great digital art, or maybe a Zuzu Meowfluff that you are ready to sell. Let’s do that NFT and put it up for sale now. I used Rarible, as it was a bit cheaper and easier to configure, and connects to OpenSea if anyone asks.

  • Go to Rarible.com and click on “Create” at the top right.
  • Create one or more (the latter for a group, for example, a photo or a collection of cards that you have created).
  • Select Select file to upload a PNG, GIF, MP3 or other file type. The maximum size is 30 MB.
  • Enter your desired price, or leave ‘Add to Sell’. I will include this photo of Porto, Portugal, I got it for 0.5 ether. After a 2.5% service fee, I will receive the equivalent of $ 826.91. If they ever sell this thing. It seems reasonable.
  • Enter a name for the NFT and a description.
  • Choose your fees. You will continue to get paid if resold on the secondary market. It depends on the actual selling price.
  • Select “Link portfolio ad creation”.
  • Attach your portfolio, which we created in the previous section above. For this, click on “MetaMask”.
  • Pay the “gas” fee to process the listing. In this case, it is $ 75.64, or 0.044091 ether.
  • Click Start to sign the sales order using your digital wallet.
  • Click Register in the MetaMask popup window.

This is! It is now ranked. In this case, I can find it on Rarible or OpenSea by searching for “Porto, Portugal”. Offers will be displayed on the sales page. If sold, the money will be transferred to my digital wallet. You can then use it to buy other NFTs or make money using an app like Coinbase.

CNBC’s Ryan Brown contributed to this report.

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