Table of contents
What Is an NFT?
What can NFT be used for
How to create an NFT - On Binance
Summary
WHAT ARE NFT?
Before we look into how to create NFT, firstly let look into the meaning of an NFT.
NFTs are digital assets that can represent ownership of unique objects in the digital realm. They’re stored on a publicly verifiable decentralized ledger, which means they can’t be easily edited, copied or duplicated.
NFTs provide new monetization opportunities for creators. Therefore, they foster innovation and support the growth of creative industries.
Virtually anyone with Internet access can create NFTs — a testament to the open, decentralized, and accessible nature of blockchain technology. The accessibility and democratization of blockchain technology has allowed artists, musicians, game developers, and well, quite literally anyone to create and experiment with NFTs. However, it’s also important to note that creating NFTs requires some understanding of blockchains and the process of minting NFTs.
WHAT ARE NFT USED FOR?
1.Game NFTs and collectibles
NFTs can also take the form of digital collectibles, such as trading cards, virtual pets, or in-game items. For the first time since the advent of NFTs, their scarcity can be easily verified and they can be traded in a similar way to physical collectibles. Some common examples of game NFTs include in-game currency, characters, and in-game items such as weapons, armor, and skins.
2.Art
Digital art — including images, interactive pieces, and even AI creations — can be tokenized as NFTs. This allows artists to create, sell, and track their digital creations.
3.Videos
Video content such as movies, music videos, or even live sports clips can be represented by NFTs. Doing so allows video creators to reach a global audience and monetize their work.
4.Music
Similarly, musicians and sound creators can tokenize their work as NFTs. Now, they can bypass third parties and sell songs, albums, or even concert tickets directly to their fans. In addition, these artists can decide to make these items unique or limited.
HOW TO CREATE AN NFT
Step 1: Choose a blockchain
Choose the blockchain platform on which you want to create your NFT. While Ethereum is widely used, there are several suitable options, such as BNB Chain, Cardano, Solana, and EOS. You can start by researching each platform's specific requirements, fees, and compatible wallets before making your choice.
The blockchain you choose will keep a permanent record of your NFT, so it's important to choose one that best suits your needs. Note that you cannot change your choice of blockchain once your NFT is minted.
Step 2: Set up a digital wallet and fund it with crypto
Create a crypto wallet compatible with your chosen blockchain to manage your NFTs and cryptocurrency. Be sure to store your private key or seed phrase securely; losing either could result in loss of access to your wallet and assets.
You will also need to buy the native cryptocurrency of your chosen blockchain to pay the gas fees incurred when minting your NFT. You can purchase this on a cryptocurrency exchange or through your wallet, depending on how the wallet works.
Step 3: Choose an NFT platform
Choose a platform to create your NFT and make sure it's compatible with your chosen blockchain and wallet. In fact, there’s an ever-growing list of NFT marketplaces that allow you to create NFTs without much hassle. Furthermore, some of them are full-service NFT marketplaces that allow everything, from minting to listing and selling NFTs.
Step 4: Create your NFT
The specific options and steps for NFT creation may vary depending on your chosen NFT marketplace. As such, you must familiarize yourself with the interface before creating an NFT. Still, you can remember these generalized instructions for creating an NFT on an NFT marketplace:
Connect your wallet: Look for the option to connect your digital wallet on the selected NFT marketplace.
Find the “create NFT” option: In the marketplace, look for a "Create" or "Mint" section that will guide you through the NFT creation process. This usually includes options for uploading your media file, setting the NFT’s features, and providing additional information.
Creating a media file: The tools for creating an NFT can vary depending on the type of digital asset you want to create. For example, to create digital art, you should look for specialized software for images, illustrations, or animations. Artists can also use specialized software that allows them to create and manipulate 3D objects, add textures and materials, and export the final model in the correct format. Similarly, photographers can use editing software to refine the final image. Or, you can even use AI in the NFT art-creating process using just text prompts.Be sure to use the correct media files, such as JPG and PNG for digital art and GLB for 3D artwork.
Upload your media file: Upload the image, audio or video file, or other media you want to tokenize as an NFT.
Fill in the details: Give your NFT a name and description. You may also want to add additional perks, such as access to exclusive content or benefits (like tutorial videos or invitations to closed chat groups). Limiting the number of NFTs that can be created is also a popular option but it may or may not be suitable, depending on the context.
Create your first NFT: After providing all the necessary information and deciding on the settings (including your choice of blockchain), click the "Create" or "Mint" button. The platform will process your request and your NFT will be created.
Step 5: List your NFT for sale
Once your NFT is created, it may not be automatically listed for sale. If you want to sell it, find the option to list your NFT on the marketplace, then set your desired price and other terms. This step is optional but will allow you to better promote and monetize your creation.
HOW TO CREATE YOUR NFT ON BINANCE NFT MARKETPLACE
One of the most exciting features for creators on the Binance NFT Marketplace is minting non-fungible tokens (NFTs). You can quickly mint NFTs and create your own NFT collections on BNB Chain (former BSC) and Ethereum (ETH).
Please note that only verified users can create NFTs on Binance, so you must complete Identity Verification before you start.
To mint an NFT on Binance, you must create an NFT collection and get it approved first. For more information, please refer to: How to create an NFT collection on Binance?
HOW TO CREATE AN NFT ON BINANCE?
After creating a collection, you can start to create your NFTs on Binance. Before you get started, please make sure you have a sufficient BNB or ETH balance in your Spot Wallet to cover the minting fee. You will also need to complete the Identity Verification. Only verified users can create NFTs on Binance.
1. Go to the Binance NFT Marketplace and click on the [Profile] icon.
Next, click [Created] — [Create NFT].
2. Read and accept the Binance NFT Marketplace Terms and Conditions.
Please note that if your account violates the Binance risk management policies, you won’t be able to create NFTs. Please contact Customer Service for assistance.
3. You will be redirected to the minting page. Enter the details of your NFT, including:
Name: The name of your NFT;
Description (Optional): A brief explanation of your NFT;
Network: Select the network of your NFT. We have defaulted it to BNB Chain (former BSC), but you can also choose to use the Ethereum network (ETH);
Collection: Select which collection this NFT will be categorized under from the dropdown list. You will only see the collections on the network you just selected. For example, if you selected BNB Chain, you will only see the NFT collections on BNB Chain.
You may select the collection you just created, or click [+ Add a new Collection] to create another one;
Properties: Select the properties for your NFT. You can click [Add More] to add up to 100 properties for your NFT.
4. Once the details are set, you’ll see an estimated minting fee. Read and agree to the Binance NFT Minting Rules and Terms of Service, and click [Create].
5. Your file will start to upload. Please wait patiently for us to review your NFT. It will be assessed via an automatic verification system.
Once the minting process is complete, you will see a [Minting Completed] pop-up with the contract address and Token ID of your NFT. Click [View Item] to go to your collection, or click [List NFT] to list it for sale.
If the system requires more time to process your NFT, you will see a [Successfully Requested] pop-up. You will be notified via email when your NFT is minted.
You can enable the minting status notification from [Profile] — [Settings] — [Notification].
6. If the minting fails, you will see an error message. This could happen due to several reasons. For example, the review determines that your NFT contains inappropriate content. Please note that if this happens more than or equal to 5 times within 24 hours, you will be suspended from minting for the next 24 hours.
SUMMARY
NFTs are revolutionizing the digital asset landscape by providing an easy way to represent ownership and prove authenticity of various digital assets, whether it’s digital art, music, or videos.
Since creating an NFT is becoming increasingly accessible, more creators are joining the movement and exploring its underlying technology. However, do bear in mind that successful NFT creation entails more than just creating a digital asset people want to see and use — it also requires an understanding of factors like cost and valuation.
