Sammy Baker

What is NFT & How You Can Create a 10,000 NFT Project

Nov 29, 2021

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What is an NFT?

It stands for non-fungible tokens. Basically, it is a unique digital creation. Think of it as an ultra-rare Pokemon card, probably the only one of its kind! You own it, and you get the bragging rights that go with that.

Simple right? The next logical thing to ask is: 

What is NFT art?

NFT art examples include:

Video clips, drawings, pixel art, music, even a digital copy of your brain all downloaded (we’re not there yet but you get the gist). In other words – digital art.

Weird Whales by 12 year old coder Benyamin Ahmed
Weird Whales by 12-year-old coder Benyamin Ahmed

People love to collect art pieces in the real world. NFT art is an evolution of the same.

NFT art projects like CryptoPunks have been sold for millions of dollars!

Are NFTs that different from cryptocurrency? NFT Crypto?

Bitcoin, dogecoin, Ethereum, Ripple – these are some of the most popular cryptocurrencies in the world. But no, they are not NFTs per se. You trade a bitcoin for another cryptocurrency, and you get the equivalent one of the same value. It’s just like online money.

Not an NFT
Not an NFT
Is an NFT
Is an NFT

NFTs are pieces of digital content linked to the blockchain, which is the database that governs cryptos like Ethereum and Bitcoin. Thanks to its security and flexibility, it is Ethereum that powers NFT creations right now.

What are NFTs used for?

But wait! Digital files like images and music can be endlessly and easily copied. Doesn’t that sort of defeat the purpose behind NFTs?

In the real world, original works of art are worth millions because they are one of a kind. They too can be copied but experts can still determine the real deal. Blockchain technology has made it possible to do just that for digital artwork. With every NFT you buy, you possess a digital certificate of ownership for the same. The blockchain stores a record of who owns what. Those records are difficult to forge. In short, digital artwork is ‘tokenized.’

NFTs on display
NFTs on display

But that’s not all. NFTs also have nifty features that make them creator-friendly. Smart contracts have made it possible for digital artists to continue to get a cut from future sales of their tokens. Think of it as an autographed print if you will.

No wonder people want to get in on the hype, and come up with their own 10,000+ NFT collection to achieve similar success.

Wait a minute. You can create an NFT collection of 10,000 items?

Yes! You can join in on the fun, and make a serious buck if it’s done right.

But why create an NFT collection? Here’s why:

  • It is a fun and creative endeavor. 
  • It can also help you reap a handsome profit.
  • It can prove to be your entry point to the new and exciting world of the blockchain industry.

Understandably, you are curious about how to make money from a whole NFT collection. More importantly, how much will it cost to launch your NFT project.

Here’s how it works:

  • There are zero charges to creating an NFT collection, other than your effort and time. The NFT creation phase is also known as minting.
  • When you put your NFT collectible in an NFT marketplace (i.e. OpenSeas), you will have to pay a ‘gas tax’ to cover the cost of electricity used to turn your NFT art into a token. The gas fee varies – sometimes it may cost $15, sometimes even going as high as $1000+!
  • You receive the bulk payment upfront while selling the NFT for the first time.
  • As your NFT piece gets traded around, some of the proceeds will go to you (the original creator), and some as gas fees.

That’s it in a nutshell. Now we proceed to the next step.

How to create an NFT collection of 10,000+ items?

The key is to follow a process:

  • Research the NFT art space.
  • Come up with a concept, brand, and roadmap for your project.
  • Get a blockchain developer onboard as a creator.
  • Sketch a few designs (or hire an artist).
  • Make a list of traits for your collection.
  • Have the developer build a smart contract.
  • Build a website to promote your NFT collection of 10,000+ items.
  • Social media promotions are also important.

Of course, depending on your available resources and ideas, you can probably skip some of the steps here as needed.

Once you start researching the NFT art space, one thing becomes evident. It can be weird and phenomenal at the same time.

The best projects are those that get the culture and tone just right.

Why is it important for your NFT collection to get their storyline, brand voice, and characters right? Because all of this feeds into community building. The more close-knit your community is, the higher the chances of your creations being worth millions.

How to code an NFT collection?

Creating an NFT collection of 10,000+ characters requires two things – art and code.

Build an NFT Art Collection

Instead of individually developing 10,000 pieces of art (which is time-consuming in normal circumstances), artists and developers have come up with a system.

First, identify a list of traits that work well with your brand new NFT art project. This could be anything from:

  • Background
  • Accessories
  • Facial expressions
  • Colors
  • Moods
  • Hairstyles
ExpansionPunks via Medium
ExpansionPunks via Medium

Now how do you build a character?

  1. Build a base character. 
  2. Draw each trait in its separate layer.
  3. Program each trait with a rarity %.
  4. Use a code generator to create any number of random characters.

Build the code for your NFT collection

For every NFT you create, you will need a smart contract. 

There are many ways you can create a smart contract to tokenize your NFT art, but we will keep it simple and brief to help you understand the basic concept behind it.

It works similarly to a vending machine, only over the internet. Once you deploy the smart contract for your NFT project online, people can buy (read ‘mint’) an NFT off you.

It works like this:

  • Buyer pays you the price you’ve set for your creations, in Ethereum (ETH).
  • The smart contract runs code that picks distinct traits randomly based on their rarity %.
  • An original NFT art is created, complete with the randomized traits determined by the smart contract.
  • Your creation is logged onto IPFS, a decentralized storage and file referencing system for Ethereum. 
  • Ownership of NFT is transferred to the buyer’s crypto wallet.Bonus: As a creator, you get to monitor secondary sales and royalties.
How Smart Contracts work (via Chainlink)
How Smart Contracts work (via Chainlink)

We hope you enjoyed this guide. By now, you are in a better position to know what is an NFT art and how you can build your own NFT collection of 10,000+ projects.