What does "non-fungible" mean?
Each bitcoin is worth as much as each other bitcoin. NFTs, then again, are remarkable. "Fungibility" alludes to products or resources that are no different either way and can be traded conversely. A dollar greenback is another ideal model — each is valued at precisely one dollar.
Show passes, conversely, are non-fungible. Regardless of whether each Radiohead ticket is similar value, they aren't straightforwardly replaceable. Each addresses a particular seat and a particular date — no other ticket will have those careful qualities.
How to create your first NFT: a step-by-step guide for beginners
It took 12 hours and the use of three Apple devices, but this 30-year-old poet managed to mint her first NFT. And you can too: here's a step-by-step guide to creating a non-fungible token in Crypto Token Migration.
I needed to know more.
Here is a step-by-step guide on how to mint your first NFT using OpenSea , an NFT platform that is very popular with new minters.
Step 1: define the concept
In addition to my work as a financial journalist, I have a growing affinity for all things astrology. Looking at my recent birth chart with astrologer Noah Frere , I realized that Juno was very active, so I decided to base my first NFT collection on the tumultuous relationship between Juno and Jupiter, two gods from Roman mythology. And after a wonderful conversation with my business coach, Lisa Faberge , I knew I wanted to explore the tension between love and duty through the lens of devotion.
That's why I decided to call my poetic alter ego—every creator needs one, right?—" Juno Muse ". With my concept clear, I had a definite plan: revive my old poems and write several new ones. Then learn how to mint them on a Blockchainx.
Step 2: choose the platform
The technical knowledge required to mint NFTs on OpenSea is comparable to that required to sign up for Myspace in 2006. "There's a huge misconception that you have to be technical to get into crypto," said Denise Schaefer , co-founder of educational blockchain platform Surge .
Step 3: Connect and create community
Get ready to tweet and send direct messages on Twitter. You'll also need to join Discord , a Slack-like chat platform for gamers and crypto lovers. When you're ready to sell your NFTs, expect your community to be your number one marketing resource. It sounds a bit cliché, but you don't need to spend a lot of money on fancy marketing tactics to create a successful project.
"Regardless of how high or low the market is, the community is so enthusiastic and constantly labels our project on different things constantly talking about it," said Maliha Abidi , whose Women Rise NFT collection launched in November 2021 and sold out in 50 days, generating 2,000 ETH of trading volume in the process.
Step 4 – Create Your Art
To start turning my poems into art, I had my mom mail me an old iPad that she wasn't using, and I signed up for an online illustration class at the Baltimore Academy of Illustration. I dug up my old grad school poems, walked around Manhattan brainstorming ideas, and bought a notebook to start doodling.
Each creator has their own process, but either way, you have to think about how your art will translate to the digital realm. Follow these guidelines to create your first NFT:
Step 5: Mint and Share
At OpenSea the minting process is so easy that I was expecting a clown to jump up and tell me I had been scammed.
It's as simple as uploading your files, entering your collection description and creating your profile, determining your copyright (for later when your art is sold on a secondary market), and completing your listing.
The last step: selling your NFT
After minting, it's time to put your NFT up for sale. I opted to keep things simple and list mine for 1 ETH, at minting. My 1 ETH price will remain on my Juno Muse profile on OpenSea until February 20, or when someone withdraws my NFT from the market.
In the meantime, I plan to continue experimenting with the price of my NFTs. I plan to publish my old poems from graduate school, and to make Juno proud, I plan to continue writing poems on Thursdays, the day ruled by Juno's beloved Jupiter. Maybe, just maybe, this new routine will help me fall back in love with NFTs and—most importantly—with my own art.
