How to create your first NFT?How to create your first NFT? https://www.visualstorytell.com/wp-content/uploads/2021/06/NFT.jpg 366 222 Shlomi Ron Shlomi Ron https://secure.gravatar.com/avatar/906bcce31d9695cb030087534b5f0f6e?s=96&d=mm&r=g
Have you figured out your summer plans yet?
Well, beyond the important downtime we all deserve after such a roller coaster of a year, summer is also a great time for experimentation.
If you recall a few weeks ago I talked about the basics of NFT (Non-Fungible Token) that has created quite a buzz in the past 6 months.
I know I promised you I’d share a more practical advice on how to actually publish or mint your first NFT, so today it’s exactly what I’ll do.
If you don’t have millions of followers and existing hype vibrating around your digital content yet, I suggest you start with OpenSea – an open NFT marketplace – to list your content.
My focus today will be strictly on the technical steps of setting up your storefront on Opensea.
Before starting you want to run a strategy session with your team and explore how your NFT content will best support your larger brand narrative to delight your audience.
Don’t just drop your latest video or photo. You’ve got to be strategic about it.
Identify your goals, strategy, and then explore various content tactics you can use to achieve your goals. Feel free to contact me if you need help.
Assuming you’ve established your visual storytelling strategy for your NFT store, you have the content ready and you just need to know how to publish – this simple guide is what’s coming next.
I wish I had it when I started as the information is not clearly communicated as you’re literally entering what I call “Geekland Twilight Zone” 🙂
Ready? Here we go!
Step 1: Open a Digital Wallet
In order to sell your NFT items you need a digital wallet. That’s where your money from buyers will go into.
I created a digital wallet on MetaMask. From your desktop computer download and install MetaMask for your Chrome browser.
Then follow the registration steps.
Super important! As part of the registration you’ll receive a unique 12-word Seed Phrase, write it down on paper and where you keep all your passwords.
If you lose this secret phrase you won’t be able to ever access your account. Crazy as it sounds but this is critical.
Step 2: Transfer money to your digital wallet
You’ll need to have some amount of Ethereum (aka Ether), a cryptocurrency like Bitcoin – in your digital wallet to start selling on NFT marketplace like OpenSea.
To do that open your MetaMask Chrome extension and click on Buy and then Continue with Wyre. You could pay with your credit card or Apple Pay to convert USD to Ether.
Step 3: Create your OpenSea account
Go to Opensea.io click Create and follow the instructions. You’ll be asked to log in to your MetaMask wallet.
Step 4: Setting up your storefront’s Main Page
I’ll use VSI’s examples in the following links
First start designing your store’s main page. That’s where you’ll see all your items for sale.
Based on your visual storytelling strategy under Settings, write a compelling description that brings to life your unique brand narrative for the store.
Pretty much answering WHY people should care?
Next, upload a visually appealing banner, size 1400×400 that introduces your unique visual perspective to your visitors.
Step 5: Setting up your storefront’s Collections
A collection is any group of NFT items you decide to group together. The grouping could be based around format (photos vs. videos) or around themes.
From your upper right corner store icon click on My Collections and then Create new collection.
You can always go back and edit your Collection information and visuals.
BTW you can start with just one collection if you don’t have multiple themes in mind.
Step 6: Add new Items to your storefront’s Collection
Go to your Collection page, and click on Add New Item blue button and fill out the form by uploading a visual of your item (photo or video) and providing a compelling story to emotionally connect with your store’s visitors.
You can talk about what inspired you to create the piece, the process, materials or tools you used. You want to use vulnerability in your story to build authenticity and emotional rapport with your audience.
Step 7: Sell an item
Go to the item page you’ve just listed. It’s visible in your store but not open for sale yet. To sell the item, click on the Sell blue button.
The easiest route is to select Set Price to have a fixed price for your item. You always can change it and it will show in your item’s Trading History.
After entering your price amount click on Post Your Listing blue button. Your MetaMask’s digital wallet will popup and you’ll need to pay a one-time processing fee (called NFT gas).
Gas rates will change depend on how congested the system is. You can always try another time.
That’s why you needed to have some Ether money in your wallet in Step 1. But no worries, all your future listings won’t carry any gas money.
And voila! Your first NFT is now live and open for sale!
If you choose to auction your item instead of a fixed price, you’d want to heavily promote the drop date and then put it on sale.
Either way, like anything else, to drive response you would need to effectively market your NFT store across channels.
Lastly, realize there are no sure bets here. It’s an emerging space with all the expected hiccups. So go into this with an open and an explorer mindset.
That’s why I earlier suggested to file this under your visual experimentation program where you’ll learn what’s working or not – for your brand.
In future posts, I’ll talk more about NFT marketing strategies.
For now, I’d just say, for brands, NFT marketplaces could be ideal settings to drive brand loyalty.
Think of an NFT store for a brand as a “museum’s gift shop” for engaging super fans with branded digital merchandize and at the same time generate a whole new revenue channel.
But unlike a one time purchase of, say, an artist’s poster at a gift shop, on NFT marketplace you empower your customers to resell your products and this way, over time create a vibrant collector community around your brand.
As you could imagine, major brands like Nike or Red Bull are already planning their NFT strategy. For some brands that would mean creating their own standalone marketplaces as NBA’s Top Shot, which has recently surpassed $200 million in transactions.
Excited? Confused? Feel free to reach out if you need help.
Shlomi Ron is the CEO of the Visual Storytelling Institute (VSI), the primary think tank that brings the gospel of visual storytelling from the world of art into marketing. A digital marketing veteran with over 20 years of experience working both on the agency and brand sides for Fortune 100/500 brands such as Nokia, IBM, and American Express. He started VSI to combine his marketing expertise with his passions for visual stories stemming from interests in classic Italian cinema (cafePellicola.com) and managing the estate of video art pioneer, Buky Schwartz (BukySchwartz.com). At VSI, he helps brands rise above the communication noise through visual storytelling consulting, training, and thought leadership. Select clients include La Mer, RTI International, Cable & Wireless, Pearson Education – to name a few. He currently teaches Brand Storytelling at the University of Miami’s Business School. Thought leader and speaker at key marketing conferences. He is also the host of the Visual Storytelling Today podcast, which ranks in the top 10 best business storytelling podcasts on the Web. His book: Total Acuity: Tales with Marketing Morals to Help You Create Richer Visual Brand Stories. What makes a good story? He always says "The magic happens the moment your brand story mirrors your customer’s personal story." Outside work, he is a nascent bread baker, The Moth fan, and longtime fedora wearer likely to jive with his classic Italian cinema interest.All stories by: Shlomi Ron
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