Unlock Your Inner Artist: Create and mint your NFT | 🌱 |
and Amazon onboards millions in Web3 overnight
GM. 🫶
This is Web3 Espresso ☕-your weekly cup of everything Web3 designed to educate, entertain, and inform.
This week, I take a deep dive into NFTs. Whether your children are starting to talk to you about NFTs (true story) or you’re an artist at heart and want to publish your art, this guide will help you get started.
Next week, I will look into the different ways you can market your NFT.
If you know anyone who may be interested in this topic you can share this newsletter by clicking on the button below.
If you’ve just arrived, start here and get up to speed on what is Web3 and why it matters ✨
What’s in store today:
🥡 The Weekly Roundup - Amazon onboards millions in Web3, Shopify helps too.
🦸♀️ Women of Web3 - female Web3 leaders to follow
🌱 HOW-TO Series : Ready, Set, Mint: How to Create and Launch Your Own NFTs
Let’s go! 🥤
🥡 In the News …
What caught my attention in the Web3-Sphere this week
Amazon is set to launch an NFT Marketplace 👉 full story here
“Amazon marketplace will tie digital ownership to physical goods delivered to customers’ doors”
Details of the “Amazon Digital Marketplace” are still a little blurry. The platform will be available to US users to begin with and may offer “phygital” goods, i.e., the purchase of a fashion related NFT tied to a physical product.
It’s big news when the biggest marketplace in the world makes a move into the Web 2.5 space.
Why 2.5?
The platform is still very much centralised. Purchases will be made by credit card (it is unclear whether a Web3 wallet will be automatically created for each user) and the platform will be run on a private blockchain.
Still, this is a huge step in bringing awareness to a customer base of over 200 million Amazon Prime subscribers - overnight.
Shopify offers blockchain based tools 👉 full story here
Together, the top e-commerce firm Shopify and Thirdweb, a Web3 infrastructure protocol, will introduce a toolkit that will let programmers create e-commerce applications that take advantage of Web3. This tool, known as the "CommerceKit," makes it simpler for programmers and business owners to incorporate Web3 capabilities into their online shops and websites.
Shopify is helping small ecommerce stores to build stronger brand loyalty through Web3 technology. It recently announced the launch of new tools to create applications that would allow “tokengating”.
Token gating is a common tool used by NFT project teams to create value for community members. Essentially, token gating allows projects to reward people who hold their NFTs by creating exclusive content, events, and other benefits available only to token holders.
What does this mean?
Ecommerce stores will be able to connect to a user’s wallet and provide unique rewards or experiences for those users. They can use the tool to integrate NFT-based digital collectibles giving access to exclusive token-gated items or on-chain loyalty programs, for example.
🦸♀️ 10 Influential Women of Web3
Technology is a male-dominated industry, and Web3 is unfortunately no exception. Only 13% of Web3 founding teams include a woman according to a new report by BCG X, the tech build and design unit of Boston Consulting Group (BCG), and People of Crypto. Among founders, the gap is worse at 7%.
[Read the full article 👉 here]
There are however some very strong female leaders that are paving the way to represent, innovate and lead new Web3 initiatives.
Here are 10 influential women in Web3 that I follow:
Lisa M.Lum - founder of Friends of the Metaverse
Cathy Hackl - author and founder of Journey metaverse platform
Deborah Ojengbede - founder of the AFEN blockchain
Laura Ingram- founder of Women of Web3
Kristin Smith - founder of the Blockchain Association
Brit Morin - founder of BFF
Gianina Skarlett - founder of Crypto Tech Women
Avery Akkineni - President Vayner3
Chana Kanzen- founder London Women of Web3
Tracey Bowen - founder of H.E.R DAO
Learn. » NFT Series
Over the coming weeks, I will look at NFTs and go over all facets of developing, minting, selling, and marketing your NFT. If you're a creative or an artist wishing to learn how to make and sell your NFTs, this is an excellent place to start.
This week we take a deep dive into:
🌱 How to mint and sell an NFT?
With the increasing popularity of NFTs, many people are interested in learning how to create and sell their own NFTs.
What are NFTs?
NFTs, or non-fungible tokens, have taken the world by storm in recent months and years. From digital art to virtual real estate, NFTs have become a popular way for creators to monetise their work and for collectors to own unique digital assets.
In this article, I'll show you how to mint and sell your NFTs.
What is NFT Minting?
Minting an NFT essentially means creating a unique digital asset and storing it on a blockchain. A “digital asset” can be a new asset, currency, or other types of tokens.
NFTs are recognised as a type of token that represents a digital asset, such as a piece of art, a video game item, or a digital collectible. They are often traded on online marketplaces and can be bought, sold, or exchanged for other cryptocurrencies or fiat currencies.
Minting usually requires a small fee, which is used to cover the costs of processing and verifying transactions on the blockchain.
Choose your ecosystem
There are more well-known NFT ecosystems than others. As one might anticipate, more well-liked NFT ecosystems have a larger customer base and generate more revenue than less well-liked ecosystems.
In an ecosystem with more players, creating an enthusiastic community is simpler. This is one of the reasons that many projects decide to launch on Ethereum and OpenSea.
A project’s community can have a lot of influence over the project’s long-term success and secondary sale. They’ll include some of your biggest fans.
How to Mint an NFT
In order to mint an NFT, all you need is some time, a computer (desktop or laptop) with internet access, and a digital wallet to hold your NFTs and cryptocurrency to pay any fees. Once those things are ready, you’re ready to start minting NFTs.
There are several platforms available for minting NFTs, but one of the most popular is OpenSea with over 1 million users and 80 millions types of NFTs available. OpenSea is probably the best platform to get started with.
Here are the steps to mint an NFT on OpenSea:
Sign up for an OpenSea account: To get started, you'll need to create an account on OpenSea. This will allow you to create and list your NFTs on the marketplace.
Connect your wallet: In order to mint an NFT, you'll need to connect your wallet to OpenSea. OpenSea supports a variety of wallets, including MetaMask, WalletConnect, and Coinbase Wallet.
Create your NFT: Once you're logged in and connected to your wallet, you can start creating your NFT. You'll need to choose an image or video for your NFT. You can easily create an NFT using a no code tool such as NFT Art Generator. This tool lets you easily create multiple versions of an existing image and tweak rarity factors. Autominter is another good tool to create your collection.
Add the imagery to OpenSea and add metadata (such as the title, description, and artist information), and set a price for the NFT.
Royalties: One of the key aspects of minting an NFT for an artist is the opportunity to collect royalties on the secondary market. This means that if your art is popular and sells, you keep getting a cut on every transaction. You can set the royalty level you wish, OpenSea sets an upper limit of 10%.
Gas fees - these are transaction fees for the operation. If you choose the Ethereum network you will be charged a transaction fee. You can bypass this by choosing the Polygon blockchain.
Submit your NFT: Once you've created your NFT, you can submit it to the blockchain for minting. This process can take a few minutes to complete.
List your NFT for sale: After your NFT has been minted, you can list it for sale on the OpenSea marketplace. You can set a fixed price or choose to auction off the NFT to the highest bidder.
In addition to OpenSea, there are several other platforms available for minting NFTs, including SuperRare, Rarible, and Nifty Gateway.
Each platform has its own set of features and fees, so be sure to do your research before choosing one.
How to Sell an NFT
Minting an NFT is just the first step - the next step is to sell it.
Here are some tips for selling your NFT:
Choose a reputable NFT marketplace: Select a trustworthy marketplace with a strong reputation to sell your NFTs. This will ensure that your NFTs are seen by a wider audience and that you receive a fair price for your work.
Create high-quality content: Ensure that the digital art you create is of high quality and originality. Use high-resolution images and videos to showcase your NFTs to potential buyers.
Set a reasonable price: Do your research to determine a reasonable price for your NFTs based on current market trends and the demand for your work.
Fees: The marketplace will charge a fee to sell the NFT. OpenSea has it at 2.5%. The royalty fee would also be added to this fee if the NFT is sold.
Market your NFTs: Promote your NFTs on social media and other platforms to build awareness and reach a wider audience. Consider collaborating with other artists or influencers to reach new audiences.
Build a community: Engage with potential buyers and build a community around your art by offering exclusive content or perks to those who purchase your NFTs.
Be transparent: Provide clear and transparent information about the ownership rights and potential future value of your NFTs to potential buyers. This will help build trust and confidence in your work.
Continuously create and release new NFTs: Keep your audience engaged and interested in your work by continuously creating and releasing new NFTs. This will help build a loyal fan base and increase the value of your existing NFTs.
Other Platforms for Minting NFTs
In addition to the platforms mentioned above, there are several tools available for minting NFTs. Here are five tools to consider:
Mintable - Mintable is a platform that allows users to create and sell NFTs without any coding knowledge. It offers features such as customisable templates, a drag-and-drop interface, and smart contract integration.
Rarible Creator - Rarible Creator is a tool that allows users to create and sell NFTs on the Rarible marketplace. It offers features such as a user-friendly interface, customisable templates, and a built-in token wallet.
OpenSea SDK - The OpenSea SDK is a set of tools and libraries that developers can use to create their own NFT marketplaces. It offers features such as smart contract integration, token standards, and metadata management.
Mintbase - Mintbase is a platform that allows users to create and sell NFTs on the Tezos blockchain. It offers features such as customisable templates, a built-in wallet, and social media integration.
NFTify - NFTify is a platform that allows users to create and sell NFTs on the Binance Smart Chain. It offers features such as customisable templates, smart contract integration, and a built-in token wallet.
Minting and selling NFTs can be a lucrative and exciting opportunity for creators and collectors alike. By following the steps outlined above, you can create your own NFT and sell it on a marketplace.
Remember to do your research, choose the right platform, and market your NFT effectively to maximise your chances of success.
With the right approach, you could create the next CryptoPunks or Beeple's "Everydays" and make a name for yourself in the world of NFTs.
I couldn’t leave you this week without a little NFT humour 💟
That’s all for this week… 🫶
If you have any questions - drop’em here!
I'm happy to answer any questions. 👇
Please note that I do not recommend or endorse the companies and organisations mentioned in this newsletter. This content is purely informative and not a recommendation. Always be mindful of where you connect your wallet. Always do your own research. 💛