How to mint an NFT
This edition will share my experience with the integration of art with blockchain technology as I minted and listed my own NFT’s. They can be viewed or purchased on Rarible.com.
Background
Though I assume the reader to have an elementary understanding of bitcoin, blockchain systems, and general cryptocurrency, we would do well to clarify terms with a working definition from Oxford Languages:
Blockchain (n): a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network.
On the blockchain, the distinction between digital currency and digital assets is key to understanding the inclusion of art. Some blockchain networks act not only as instruments of value exchange but also as instruments of information transfer. For example, bitcoin (BTC) is simply a method for the exchange of value; ether (ETH) has the capability of referencing and transmitting data.
Due to their use in this project we will make a clear distinction between ether and ethereum. Ether references the currency; ethereum is the network/platform which supports the exchange of ether. Like water running through a hose, ether runs through the ethereum network. According to ethereum.org, ether should be regarded as fuel for the applications which run on the decentralized ethereum network (we’ll see a practical application later).
An NFT, or non-fungible token, is the term for individual “coins” on a blockchain whether they be bitcoin or ether. The non-fungible nature indicates the token’s characteristics of uniqueness and permanence: it cannot be duplicated or deleted, only transferred around the network.
Art and Design
A winning capability of the ethereum platform is its currency’s ability to be embedded with information or data. Determined to take advantage of this feature, I composed a small checklist of requirements for a creative piece. First the understanding that, in order to make use of the blockchain, the piece must be digital. Further, it was preferred that the piece be animated or involve motion to some extent. Finally, I desired to understand the process of transferring the token(s) in the event of an art sale and to be prepared to complete a transaction on short notice and with few hiccups.
In partnership with Twentynineteen Clothing I created some interesting pieces of digital artwork: a group of animated lock screen images. These were created using assets on Adobe Spark, MotionLeap, and VideoToLive.
Minting the Tokens
Creating digital art was only the first step. The next bit of work involved interacting with my digital wallet (using a platform called MetaMask) and with an NFT listing service (using a platform called Rarible). The process of minting required small “gas” fees paid with my own supply of ether. (Remember, these gas fees are required to fuel any transaction on the ethereum platform but never amounted to any more than an equivalent $6 USD). A series of exchanges between the listing site Rarible and my digital ETH wallet in MetaMask confirmed details of the NFT’s creation, designated ownership, and listed for sale.
Details of creation: the nature of the non-fungible token requires its creator to determine how many copies of the token exist. For example the “stripes” NFT has only one token, meaning that only one copy exists to be sold or held. In contrast, the “hills” NFT has ten copies to be distributed.
Designated ownership: after filling in details and minting, each NFT was transferred to my ETH wallet to be held until sale. Further transfer can now occur through my own initiation or following a sale on the listing platform.
Listing for sale: this was done by selecting an arbitrary amount of ETH and assigning it as a price. I will be open to bids as well as price matching!
Conclusions
This was an interesting experience. Though I don’t expect to receive a significant amount of sales from this product, I am glad to have the understanding of the process. It deepened my knowledge of the blockchain, exercised process repetition, grew my digital asset base, and opened the door for future sales.
