NFT from Zero to One: A Complete Guide for Newbies

TL;DR - NFT allows digital assets (artworks, collectibles, in-game items, etc.) to have uniqueness and verifiability · Anyone can create NFTs, but it is necessary to understand the basics of Blockchain and market pricing logic · Choosing the right chain and trading platform, along with cost planning, will enable you to start your NFT journey.

What exactly is NFT? Why is it worth paying attention to?

NFT is a non-fungible token, simply put, it is a “digital certificate of ownership” on the blockchain. Each NFT is unique, stored on a decentralized ledger, and cannot be easily copied, altered, or deleted.

Compared to traditional digital assets, NFTs provide creators with a completely new monetization channel – you can directly connect with global buyers without relying on intermediaries. This is why more and more artists, musicians, and game developers are exploring the NFT ecosystem.

What Can NFTs Do? A Look at Real-World Applications

digital asset and creative content

Digital artworks, interactive art, and AI-generated creative works can all be tokenized as NFT. Artists can track the flow of their works and even earn a share in secondary market transactions.

Music and audio content

Musicians and sound creators can now bypass record companies and release songs, albums, and even concert tickets directly in the form of NFTs. They can also set limits on the issuance to create scarcity.

Video and Streaming

Movie clips, sports highlights, and original videos can all be tokenized, allowing creators to gain a global audience and direct economic returns.

games and virtual items

In-game equipment, virtual pets, limited edition collectible cards—ownership of these virtual items can now truly belong to players and can be traded across platforms.

Who can create NFTs? The threshold is actually very low.

Theoretically, as long as there is internet access and basic knowledge of Blockchain, anyone can create an NFT. This is the charm of decentralization—there is no centralized approval mechanism, and creativity is democratized.

However, in reality, successfully creating and selling NFTs also requires you to understand factors such as chain selection, wallet management, and market trends. In other words, the technical barrier is low, but the operational and business barriers need to be learned.

5 Steps to Create Your First NFT

Step 1: Choose the appropriate Blockchain

Ethereum, Solana, BNB Chain, Cardano, EOS - each chain has its own characteristics.

When selecting a chain, three dimensions should be considered: network fees (gas fees), ecological maturity, and wallet compatibility. The Ethereum ecosystem is the most developed but has higher fees; Solana is fast and has low fees but has significant risk volatility. Understand the specific parameters and fee standards of each chain clearly, as the chain cannot be changed after minting.

Step 2: Prepare the crypto wallet and funds

Create a cryptocurrency wallet compatible with the selected Blockchain, securely store private keys or mnemonic phrases (losing them equals permanently losing your digital asset).

Then purchase the native cryptocurrency of the chain to pay the gas fee. You can buy it on the exchange or complete the purchase through the built-in wallet function.

Step 3: Choose an NFT trading platform

Platforms like OpenSea, Rarible, and Magic Eden are emerging one after another, but you need to ensure compatibility with your blockchain and wallet. There are differences in user bases, transaction fees, and ease of use across different platforms, so comparisons are necessary for selection.

Step 4: Upload assets and configure NFT

1. Connect Wallet: Find the wallet connection option on the platform.
2. Enter the Creation Module: Find the “Create” or “Mint” option
3. Prepare multimedia files: Choose the appropriate format based on the type of NFT.
   • digital asset art: JPG, PNG
   • 3D Works: GLB, USDZ
   • Audio: MP3, WAV
   • Video: MP4
4. Upload File: Select the asset to be tokenized.
5. Fill in the Information: Enter the name, description, and attributes. You can add exclusive benefits (tutorial videos, community access, etc.)
6. Set Supply: Decide whether it is a unique version or a limited edition (a few copies)
7. Click Mint: After submission, the platform processes and generates your NFT.

Step 5: Listing for Sale

NFTs will not be automatically listed after creation. If you want to sell, you need to set the price and sales conditions on the platform. This step is optional but can increase exposure and monetization opportunities.

How much does it cost to create an NFT?

The cost mainly includes several parts:

Blockchain Network Fee - The largest expense item. When you mint an NFT, you need to pay the network processing fee, usually settled in the native coin of the chain. Fees fluctuate with the degree of network congestion, potentially reaching dozens of dollars during peak times, while only a few dollars during off-peak periods.

Platform Minting Fee - Some marketplaces may charge a creation fee, which could be a fixed amount or a percentage of the transaction amount.

Platform Transaction Fee - If you sell an NFT, the platform usually charges a transaction fee ranging from 2.5% to 10%.

Storage Costs - If decentralized storage (such as IPFS) is used, the costs are lower but require an understanding of the technology; using centralized storage is cheaper but relies on third parties.

Overall, the cost of creating an NFT ranges from a few dollars to hundreds of dollars, mainly depending on the chain and platform you choose.

How to price an NFT? This is a science.

NFT pricing is both an art and a science, requiring a comprehensive consideration of:

Scarcity - How unique is your NFT? How many copies were issued?

Functionality - What practical uses does it have? What benefits can it bring?

Creator Reputation - Your recognition and past achievements in the community?

Aesthetics and Story - The visual appeal of NFTs and the narrative behind them?

Community Engagement - What is the level of discussion and participation around this project?

Practical Advice:

1. Research the floor price and transaction records of similar NFTs.
2. Start from 70-80% of the market reference price, leaving room for negotiation.
3. Pay attention to community feedback and flexibly adjust prices.
4. Communicate with other creators to gain market insights.

There is no absolute formula for NFT pricing; you need to constantly test and iterate.

Copyright and Content Safety: A Must-Read for Creators

NFTs, like other creative works, are protected by copyright law. Creating NFTs using others' works without authorization may result in legal consequences.

The best way to protect yourself: Ensure that you have full ownership of the content you use or have obtained explicit authorization from the original author.

Not only is there a legal risk, but the theft of others' works harms the rights of original authors and undermines the trust of the entire community. Respecting creative labor and obtaining appropriate permissions is the basic bottom line for participating in the NFT ecosystem.

Summary: Why is now a good time to create NFTs?

NFT is redefining the way of owning digital assets. Instead of waiting, why not start exploring now - choose a chain and platform, mint your first NFT, and learn pricing and marketing in practice.

Successful NFT creators not only need good ideas but also need to understand the differences in the blockchain, cost structures, and market dynamics. Take it step by step, from learning to practical experience, and you will be able to find your place in the NFT ecosystem.

Risk Warning: The price volatility of digital assets is high, the NFT market is still developing, and there are technological and market risks. Before making any investment decisions, please fully understand the relevant knowledge and assess your own risk tolerance.