how to create an nft on opensea

 

In this blog I would like to share with you some of the information that I found while researching on how to create an nft on openSea. OpenSea is an Exchange where people can trade not only Bitcoin but also Rippling and Ripple Lab's XRP currency.

Information about creating an NFT (Non-Fungible Coin) 

 Image source: https://www.redbubble.com/i/poster/nft-ape-millionaire-loading-blockchain-technology-3d-bored-ape-club-bored-ape-nft-nft-monkey-art-future-monkey-Nft-Meme-nft-collector-nft-token-nft-art-digital-nft-crypto-art-funny-nft-by-MBCLOTHINE/100788530.LVTDI

The following is a brief introduction to Non-Fungible Tokens or NFTs, which describe the properties of a specific digital object that cannot be translated into a single digital unit and are uniquely identified by their cryptographic ID.

A non-fungible token is a unique asset which is stored in a blockchain and used for specific purposes. A non-fungible token has its own unique identifying ID and an owner that can be identified. The relative value of non-fungible tokens will depend on their purpose, the application where they are used, the type of asset being protected and other factors.

You might have heard of Bitcoin (BTC) or Ethereum (ETH). Those are both digital assets that work outside of the current centralized financial systems. But what is the difference between these 2?

 Image source: https://in.pinterest.com/pin/1135329387284241704/

BTC and ETH are both digital assets. Bitcoin (BTC) and Ethereum (ETH) are two of the most popular decentralized digital currencies. They both use blockchain technology to facilitate an automated, safe, efficient and inexpensive way of transferring money directly from one party to another. But there is something that sets BTC and ETH apart from each other: the way their values are represented on the blockchain. (Yes, you can get bitcoins or ethereum by mining cryptocurrency but that's not the point here.)

One of BTC and ETH's main features is that they are fungible tokens. That means that they are interchangeable. If you have 1 BTC, you can transfer it to someone else and they will give back 1 BTC. The same goes for ETH's "fuel".

 Image source: https://www.billionaireclubnft.com/

On the other hand, no two BTC or ETH coins are alike. Their values vary across the exchange platform and they are non-fungible tokens. So which one is better in terms of financial value? Well, there will always be people that disagree because the value of one digital asset varies and there is no single correct answer to this question. How to create an nft on opensea

This is a quick tutorial on how to create a new token on the opensea blockchain and select "create one now". You will be given two options: "create one now" or "import existing token". Select the first option and hit submit. The screen will reload with all the necessary fields needed for your new token with fields explaining what each field means so you know what you are inputting into those fields.

NOTE: The token being created will be an ERC20 compatible token. For example, this means that the code for creating the token is open sourced so that anyone can use it for their own purposes. This makes the creation of a new nft very easy and even something you can do on your own without needing any specialized knowledge or information.

Image source: https://womanofsolana.com/wp-content/uploads/2022/04/27-1.png

Once your token is created, navigate to the new token on your browser and go to the "contracts" tab where you will notice 3 links on the screen: "View contract code", "Browse source" and "View transaction log". Select the "view contract code" link and scroll down to where the code is listed. The source code for the token will be uploaded to your system so you can see exactly what everything does in your mind. If you're familiar with javascript, this should all make sense.

 

Image source: https://www.highsnobiety.com/p/justin-bieber-bored-ape-nft-470k/

Once you have seen the source code, select "browse source" and then copy everything between the parens that has been highlighted in red below: And paste it into a text document with all of the other code. Save this text document as "nft_deployed_contract_code".

Now that you have seen what the source code does in a code sense, you can view the transaction log to see all of the transactions that took place on the token. [ignore the part about generating a new account for your fancy new token]

You can see here that 3 transactions were created in which The token was transfered from account "1" to "3", from "2" to "3" and from "3" to "1". All of these transactions are explained in detail below. There is also an explanation of what each field means, some of which I will explain later in this article.