Beginner’s Guide: How to Create and Sell an NFT Collection — Part 1
One-Off Drops and Getting Started
NFTs have taken the global Sports industry by storm. Sports clubs, players and leagues have all tested the waters in different ways. The most common has been to do a one-off drop on a public NFT Marketplace.
A one off-drop requires less maintenance than for example a bigger project like NBA Top Shot which comes with the expectation of constant drops of new NFTs. It also is a good way to gain first NFT knowledge about the process, requirements and fans’ reactions.
Recent examples include:
- Man City’s championship celebration on MakersPlace
- Golden State Warriors’ legacy collection on OpenSea
- Paris Saint-Germain with artist Lucky Buddy on OpenSea
- New Jersey Devils NFT collection on Fanaply
- LaMelo Ball’s dynamic career NFTs on Ether Cards and Chainlink
Creating a drop can be as easy as 1,2,3! Let us walk you through the process.
1 — Design your NFT
As an example, we’ve made this 1 of 1 rendition of a stickman.
2 — Set-up your Wallet
A wallet is needed to store your NFT asset and also to store cryptocurrencies. In this case we used Metamask to make a wallet, one of the market leaders. This is a great step by step guide on how to set yours up and add funds to the account.
Once your account is created, all that’s left to do is load up some Ether (the currency used on Ethereum), the most commonly used cryptocurrency. You can use a debit card to purchase Ether which we will use to pay for an NFT to be “minted” or in other words, uploaded and tracked on a Blockchain.
3 — Mint your NFTs through a Marketplace
Minting is the process to actually bring your asset (in our case the stickman) onto the blockchain in order to make it purchasable and tradable.
In our example we show you how to mint an NFT on OpenSea, one of THE biggest NFT platforms and a really easy way to create your digital assets.
We followed this guide for a play by play on how to create a collection and mint our NFT. The guide goes into more detail but our abridged version is as follows.
Minting an NFT collection via OpenSea
1. Begin by logging into OpenSea. Instead of a traditional account/password that you would make on a Marketplace like eBay, you would use your Metamask credentials.
2. Once you’ve signed in, navigate to the “My Collections” tab to begin creating your NFTs
3. Once you’re in the “My Collections” area, you’ll have the option to create a new collection or go into an existing one.
4. Create your collection by giving it a logo, name and description
5. Once your collection is created, you can click on it and bring it to life. Click on the “Add New Item” button to begin.
6. Similar to the experience with creating your collection, you will have the opportunity to add details to your items. This includes: Name, External Links, Description, Unlockable content and more! We recommend taking some time for this step as it is one of the most important ones. Once you fill out your information and click “create” your NFT will be created.
7. You have created your item! Now click on “visit” to view the NFT in order to sell it.
8. Once you’re on the page, you’ll see the option to “sell” your creation. Click on the sell button to go to the next step.
9. Here you have various options for how you will offer your NFT to the world, most importantly the price and the sell method (ex. fixed price, auction, in a bundle). Once that is done hit the “Post your listing” button and you’re all set!
FYI: If this is your first time selling an NFT on OpenSea, you’ll need to “Initialise” your wallet with a one time gas fee.
And that’s it! In a very short amount of time we’ve created an NFT of a 1 of 1 stickman which is now available to everyone on OpenSea. Hooray!
That’s easy, what now?
Just because you can create an NFT collection in record time doesn’t necessarily mean you should.
Many IP rights holders are rushing to launch their NFT collection. With everyone trying to release their own drops, a hasty launch for your collection can be a detriment to standing out from the crowd.
That’s why, we’ve prepared a follow up article to examine some key points to consider to help your drop do better. Stay tuned!
This article was written in a collaborative effort between Olivier Legris, Jean Do and Benjamin Penkert. Check out niftysports.co for more content about NFTs in Sports.
