{"id":51387,"date":"2020-10-11T09:01:52","date_gmt":"2020-10-11T09:01:52","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=51387"},"modified":"2020-10-11T09:01:52","modified_gmt":"2020-10-11T09:01:52","slug":"nft-craftiness-mint-a-non-fungible-token-art-collectible-in-less-than-15-minutes","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=51387","title":{"rendered":"NFT Craftiness: Mint a Non-Fungible Token Art Collectible in Less Than 15 Minutes"},"content":{"rendered":"

\"\"<\/p>\n

In the last few months the non-fungible token (NFT) art space has exploded and data shows that there\u2019s been over 4.9 million sales worth well over $128 million to-date. This week I decided to create an Ethereum-based NFT leveraging the application rarible.com, in order to show our readers how to issue an NFT collectible or a series of rare pieces.<\/strong><\/p>\n

Non-fungible tokens (NFT) are very popular right now and one particular NFT called \u201cBlock 21\u201d shattered records at a public auction at Christie\u2019s New York<\/a>. The NFT sold for a world record fee of $131,250<\/a> at the prestigious auction house.<\/p>\n

In order to show our readers how to create a world-famous NFT masterpiece, I decided to leverage the application rarible.com<\/a> to mint a collectible. The following is a step-by-step guide that shows anyone how to create an Ethereum-based NFT digital art piece, but there are also alternative and more complicated methods that can be used as well.<\/p>\n

The first thing I did was create a picture with photoshop and when I was satisfied with the art, I went over to the website. Rarible.com is a social community, marketplace, and application and when I accessed the application, I connected it with my Metamask wallet. From here, I pressed the \u201ccreate collectible\u201d button on the top right side of the screen.<\/p>\n

\"NFT
The first step after connecting the wallet is to select creating either a \u201csingle\u201d piece or \u201cmultiple\u201d collectibles.<\/figcaption><\/figure>\n

Everything is noncustodial and Rarible explains they don\u2019t hold private keys and \u201ccannot access your funds without your confirmation.\u201d All of the actions are confirmed by the user via the Metamask wallet during the entire creation process.<\/p>\n

Rarible offers the user two choices: \u201cChoose \u2018single\u2019 if you want your collectible to be one of a kind or \u2018multiple\u2019 if you want to sell one collectible multiple times.\u201d Basically this means you can create a single non-fungible asset or a series of collectibles using the application.<\/p>\n

I chose the \u201cmultiple\u201d option and decided to mint three of my \u201cTokenize It\u201d pictures for my first series. Rarible\u2019s app lets you choose to upload a .jpg, .png, or .gif, and pictures should be under 10MB in size. Rarible also allows you to create a \u201ccollection\u201d or a \u201cRARI\u201d and for this guide, I chose to mint a RARI.<\/p>\n

\"NFT
Rarible allows you to customize the token description, number of copies, royalties, name, and it also shows you a preview of the NFT.<\/figcaption><\/figure>\n

The application will show you a preview of the collectible, as soon as the image finishes uploading. From here you can give the NFT a name, description, and choose the number of copies you want to mint. Additionally, you can add royalties to the picture, so if it sells to another person after the first sale, the original artist gets a royalty commission from all the sales.<\/p>\n

Rarible\u2019s app suggests setting royalty amounts at around 10%, 20%, and 30%. Then I set the price to 0.3 ETH<\/a> per token and decided to mint 3 units from the \u201cTokenize It\u201d series. You can also set the sale to \u201cunlock once purchased,\u201d which means the content will be unlocked after a successful transaction, but I opted to not do this step.<\/p>\n

At the bottom of the screen after all the customization fields are filled out, I then pressed \u201ccreate.\u201d From here in order to mint the NFT you will interact with the Rarible app and the ETH<\/a> wallet (in my case, Metamask). First, you are asked to approve the transaction and this will be submitted to the ETH<\/a> network with a fee.<\/p>\n

\"NFT
After pressing \u201ccreate,\u201d the Rarible app will then work with the wallet to approve the transactions, mint the NFT, and sign the sell order.<\/figcaption><\/figure>\n

This task cost me $1.60 in gwei for gas and the transaction failed,<\/a> so I had to eat the fee and attempt to mint the token again. After pressing the \u201cmint token\u201d button again, Metamask asked me to process another transaction, which cost me 0.017451 ETH<\/a> or $6.48 for gas.<\/p>\n

\"NFT
After less than 15 minutes, my NFT called \u201cTokenize It\u201d was available for sale on the Rarible marketplace. There are also other collectible markets like Opensea<\/a>, Nifty Gateway<\/a>, Knownorigin<\/a>, and Makersplace<\/a>.<\/figcaption><\/figure>\n

This transaction was successful<\/a> and from here, the Rarible app asked me to \u201csign the sell order,\u201d which means my NFT will be displayed on the Rarible marketplace for sale at my desired price. Rarible takes a small fee for hosting the NFT on the marketplace.<\/p>\n

The entire minting process to get to this point where my NFT is available for sale on the marketplace was roughly around 15 minutes total. The Rarible market shows my NFT<\/a> is now for sale at 0.3 ETH<\/a> per token and the app details who owns the NFT, and who created it alongside the sale history.<\/p>\n

Of course, after 24 hours I didn\u2019t sell any of my art and honestly didn\u2019t expect to, as I only tried the application in order to review the process. The marketplace is saturated with people trying to sell NFTs and people are realizing the importance of this market. Plus there are a number of alternative NFT marketplaces selling non-fungible digital collectibles.<\/p>\n

There are lots of great designers out there today creating fantastic digital art pieces via the NFT collectible ecosystem. There\u2019s artists like <\/span>Bitboy Collectible<\/span><\/a>, Cryptopop! creator <\/span>Luis Buenaventura<\/span><\/a>, and digital artist <\/span>Lucho Poletti<\/span><\/a> to name a few. The artist Matt Kane\u2019s \u201cRight Place & Right Time,\u201d an NFT that changes every day with the bitcoin price volatility<\/a>, sold for a whopping <\/span>262 ether or $101,100<\/span><\/a>. <\/span><\/p>\n

Rarible.com also shows the marketplace stats and which artists have made the most money during the last 24 hours. NFT creations can also be sold on competitor NFT art and collectible markets like Opensea<\/a>, Nifty Gateway<\/a>, Knownorigin<\/a>, and Makersplace<\/a>.<\/p>\n

What do you think about the NFT creation process using Rarible.com\u2019s app? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

The post NFT Craftiness: Mint a Non-Fungible Token Art Collectible in Less Than 15 Minutes<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

In the last few months the non-fungible token (NFT) art space has exploded and data shows that there\u2019s been over 4.9 million sales worth well over $128 million to-date. This week I decided to create an Ethereum-based NFT leveraging the application rarible.com, in order to show our readers how to issue an NFT collectible or […]<\/p>\n","protected":false},"author":2,"featured_media":51388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-51387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/51387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51387"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/51387\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/51388"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}