Non-fungible token (NFT) assets have taken the world by storm, as popular NFT artists are making millions from their blockchain-backed designs, music, and collectibles. As the trend continues to become more popular by the day, swarms of people are wondering how they can create their own non-fungible token and sell it after minting the NFT. The following article is a comprehensive list of tools that can help anyone get started minting NFTs and then selling them on an open marketplace.
NFT Hype Swells to New Levels
You’ve probably heard the term “non-fungible token” or “NFT” by now, because it’s the hottest trend in the blockchain space at the moment. Artists, celebrities, musicians, and professional athletes are making millions selling these blockchain assets on the internet.
Basically, an NFT is a non-fungible token that cannot be divided like crypto-assets such as bitcoin (BTC) and ethereum (ETH), which are fractional by a number of decimals. An NFT is a single asset, that is very unique and not like any other tokens in existence, unless the individual mints a number of copies of the same NFT for a collection.
In the early days, bitcoin (BTC) transactions were used to create colored coins, which are basically the very first versions of NFTs. All NFTs are tied to some kind of metadata, which could be a picture, document, comic book, animated GIF, and even real-world assets if the creator has designed a way to tether the digital world to the real world. A long time ago, Bitcoin.com reported on Rare Pepe trading cards that leveraged the Counterparty blockchain to mint NFTs and following that project came Curio Cards, digital trading cards built on the Ethereum blockchain.
Since then and especially in 2020 and into 2021, NFTs have exploded in demand and popular projects like Sorare, Cryptopunks, NBA Top Shots, Makersplace, Art Blocks, Rarible, Opensea, Hashmasks, Decentraland, and more have seen massive interest.
The NFT artist known as “Beeple” has relentlessly made money in the game by steadily becoming one of the most popular NFT artists in the space. Beeple also stole the show last week, when his NFT art sold for $69 million at the world-famous auction house Christie’s. Beeple’s NFT was the fourth-highest valued piece of art sold in 2021, outpacing auctions for artwork created by world-renowned artists such as Picasso and Lichtenstein.
Blockchains That Can Issue Non-Fungible Token Assets
Ethereum is the most popular crypto blockchain available to create NFTs. However, there are a number of alternative blockchains that can mint NFTs as well. As mentioned above, NFTs technically can be crafted on the BTC chain, but transaction fees have pushed BTC to the wayside when it comes to any type of tokenization concept.
Besides Ethereum, interested NFT designers can leverage blockchains such as Cardano, Polkadot, Bitcoin Cash, Binance Smart Chain, EOS, Tron, Flow, WAX, Tezos, Cosmos, and more. Bitcoin.com recently published a guide on how to craft NFTs on the Bitcoin Cash…