Non-fungible tokens, or NFTs, are playing a major role in bringing Ethereum to the mainstream. People around the globe have been minting their own NFTs representing digital art, photography, music, collectibles, in-game items, and even tweets on blockchains like Ethereum. In recent months, there has also been the rise of so-called “profile-picture NFTs” which usually are released as a set of 10,000, and range from the original CryptoPunks, to penguins, cats, dogs, monkeys, rats, and more. In this blog, we'll explore one of the world's leading NFT marketplaces, OpenSea.
To begin buying, minting, or selling NFTs, you first need to set up an Ethereum based wallet like MetaMask.
Check out this blog post for security best practices when using MetaMask, such as securing your Secret Recovery Phrase.
Next you will need to fund your MetaMask wallet with ETH. Check out this post to learn more about buying and sending ETH to your account.
Now that MetaMask is all set, you’re ready to start exploring OpenSea!
Once you visit OpenSea.io, you'll see an option to explore/create an NFT, a few exclusive OpenSea drops, trending NFTs, resources to get started and an option to browse by categories.
Connecting Your Wallet
To create an OpenSea account, simply connect your MetaMask wallet. Click on the wallet icon at the top-right corner; a list of supported wallets will show up. Select MetaMask from the list.
Once you've connected, finish setting up your profile by adding a username, profile image, cover etc. You'll need to 'sign' each update through your MetaMask account to apply the changes to your OpenSea account.
Exploring and Purchasing an NFT
You can start exploring the NFTs that are minted by creators from across the world through browsing by category or clicking on Marketplace > All NFTs.
To purchase an NFT, simply select an asset from the list. You can also apply filters to sort by price, categories, chains and more. Click on “Buy Now,” agree to the OpenSea terms, and click “Checkout.”
MetaMask will pop up to confirm your transaction, showing you the gas costs for completing the transaction. After you click accept, you wait a few moments for your purchase to confirm on the Ethereum blockchain. You can click the Etherscan link to make sure, and voila, the asset will then show up in your MetaMask wallet and in your OpenSea profile.
Minting an NFT
There's a simple 4-step process for minting your first NFT collection:
As we've already set up a wallet, simply head over to the “Create” section to add your assets. You'll need to add social links, an appealing description, profile, and banner images, as well as set a secondary sales fee. You can choose between auctions, fixed-price listings, and declining-price listings.
Here's a quick rundown of how it's like to mint your own NFT:
1. Create a collection
You'll have to add some details such as images, name, URL, description, blockchain you're adding the NFT to, payment tokens etc.
2. Add a new item to your collection
Here you'll need to add description and other details related to the specific item such as supply limit.
3. Set prices and post your listing
You can set a fixed price, highest bid, or bundle for the NFT listing.
4. Confirm from your wallet
Finally, sign the transaction from your wallet, which will require gas fees.
Once you're done, your item will be listed for sale on the marketplace.
Congratulations on minting your first NFT! 🎉
Manbir is an engineer and Ethereum community enthusiast from Delhi, India. He loves to evangelize technology and explore the blockchain world while helping people around him getting started with the same. You can follow him on Twitter, LinkedIn and Dev.