Have you ever wanted to create an entire NFT collection from scratch? What should you do with your NFT assets? Have you been trying to optimize your NFT minting for months? Well, you’re in luck!
We’ve created a comprehensive guide to answer all your whats, whys, and anything in between! You will find out why you should make an NFT collection, some benefits of having an NFT art, and how you can benefit from such a collection!
There are so many exciting things to explore regarding any NFT file you can imagine. NFT creators worldwide are not only about creating generative art — it’s all about creating a new NFT collection that people can admire, not something entirely derivative.
So, bring out your digital wallet, mint NFTs in your spare time, and let’s get started with creating your first NFT collection!
Why Should You Create an NFT Collection?
So, you have your art; now what? Well, it’s time to create your own NFT collection for people to wonder at! Don’t keep everything to yourself; share it with the world!
Every NFT is unique. That is why there is a high demand for it in the NFT marketplace. Even though it may seem like another fad that will quickly go away, the NFT space proves that it’s not just another crypto “hype” but something entirely different.
Here are just some of the reasons why you should already be investing in your own NFT space!
It’s All About the Money!
Well, not, but in some ways. Artists don’t want only to express themselves anymore; they also want to earn a buck or two while doing so.
That is why the collection is such a valuable asset. You can sell your single NFTs with no problems; if it’s good, people will pay money for it, but if you create a collection with an idea behind it, you can multiply your earnings many times!
Additionally, if people will later sell your NFTs or use them in some other way, you can put some stipulations in the smart contract and gain money even if you sold those NFTs quite some time ago.
It’s a win-win situation for sure.
It’s All About the Community!
Also – not exclusively, there is something about creating a community of like-minded people. There are many ways of including people who bought your NFTs into some exclusive club where you can discuss things from the crypto world or art in general.
It’s the same thing that happened with the Bored Ape Yacht Club. They have their Discord servers where all the owners can join and just talk about stuff. It’s pretty cool, and we’re not going to lie – it would be great to talk to some celebrities about their Bored Apes.
It’s All About the Ideas!
Well, this is the closest to the truth. In contemporary art, there is a lot of talk about how the description of the piece sometimes means much more than the piece itself.
With NFTs, you can create a unique art collection, similar to what you’d find in the museum or any art gallery, where an artist would create a series of connected art pieces that tell a story.
The idea behind it could be written down or something to be felt. It could be something basic, complex, personal, or a general statement about the world. Art is full of possibilities to express yourself and is a beautiful medium. Every NFT creator knows that. They just sometimes need a little push!
How Much Does It Cost?
So, we know why; let’s talk about – how much. The most important thing about anything in the crypto sphere.
And, as with everything in the crypto world – it depends. On what, you ask? Well, multiple factors! It can depend on your budget, how much money you want to make after your NFT collection goes viral, or what you want to do with it.
So, the range is from zero to thousands, whatever you want to accomplish.
You first need to consider that minting NFTs always comes with some gas costs. It’s the price of deploying a smart contract, so there is no going around it. You will need some Ethereum for it. Depending on what kind of thing you want to do, it can go from a few dollars to thousands, so be careful with your options.
Cost of Creation
Well, this one is totally up to you. Remember, time is money, so don’t just create some art pieces for the sake of creating art pieces. Use your art for your benefit! Creating artwork and making money has never been easier, so keep that in mind while you scribble.
Also – the cost of creating NFT art will depend on how many you make. Some people say that a collection starts with 10,000 pieces. Of course, you don’t have to create everything from scratch; you can generate some parts of the group (that could cause additional costs, though, if you’re using an NFT generator).
Marketing is one of the most, if not the most, essential elements of the process. You should not ease spending here as it can make or break your collection.
Think about it this way, if you’d create some impressive collection on your computer in the woods without access to the internet and world, would it even matter? Maybe some tourists will find out about it long after you’re gone, but it’s all about today, all about now, so don’t wait up on your dreams!
Choosing a marketplace is also very important. You have to find out the best for you. Sometimes it’s best to find the one with the higher fee but also – greater reach. The main idea is that people would find out about your work rather than you only saving a few cents.
You can also opt for lazy minting, also known as – mint-in-time. This means you don’t spend money on gas fees but instead put all the costs of creating an NFT on the buyer. You’d be keeping all the money in the crypto wallets and not worrying about the costs.
Many creators use this tool to optimize their collection, although – it may sometimes be a double-edged sword. Minting-in-time can sometimes make your NFT unnecessarily expensive compared to buying some Ethereum for a preferable cost and mint it yourself, keeping all the profit.
It’s a tricky situation, so you’ll need to decide what’s essential. Creating NFTs can be fun, but it’s also a lot of decisions you’ll have to make in the process.
How to Make Money with NFT Collection?
Well, there is a couple of ways to accomplish that. Creating NFT collections can be highly profitable if you do it the “right” way.
Most of the collections you can find on the market today are based on a fixed price per NFT, meaning that every NFT has the same price spread around the crypto world.
After that, you can put a certain royalty percentage for every secondary sale. For example, if anyone would sell the NFT you’ve created, you’d get 10% of the price.
NFT collection creators can use this money to develop their brand further and create an even better community.
How to Start an NFT Collection?
So, we know why; let’s talk about how. With many ideas floating around, it can sometimes be overwhelming to create art pieces.
It is, of course, a gamble that people make as you can never be sure if an art piece will be popular. On the other hand, you can mitigate the risk by preparing yourself for the challenge. Here are some ways to ensure you’re up with the times!
Research the Market
First things first, you don’t want to create something already popular. So, if you have this fantastic idea where you would, you know, make some kind of apes in different costumes, then we have some bad news for you. It’s been done before and is a bit more popular than you’d imagine.
But – there are a lot of spaces where you can still find great art made by great people, and it’s a place you need to research.
Also – watch the news, feel the vibe, and be in the Zeitgeist. If you’d just put some effort into it, you will quickly see a lot of stuff going on, and putting it through your sensitivity would create some exciting art pieces.
As you probably know, every collection is different so go wild with it. Don’t feel the pressure of the world telling you it should be some way; experiment! Finding your voice can take time, but you will surely get there!
Find Your Voice
Don’t just go around creating the same old art that people have seen thousand times before. Do something that YOU feel is worth showing. And – after you’ve found it – market it!
NFT communities love when they have some kind of an idea to latch onto and talk about with each other. Whether it’s something as simple as creating an ape or having some more intelligent thing to say about the world – it’s worth getting it out and making people talk about it.
If you have an issue close to your heart – create something on it. Make art out of your struggle, and tell the people what they should care about.
Remember – it is your time and your place to shine! Seize the opportunity to do so!
Generate Your Collection
As we’ve stated, you don’t have to create your NFT collection piece-by-piece, pixel-by-pixel. You can always generate a digital file and work on it. Most of the famous NFT collections were built this way, as no one could create 10,000 pieces of the same thing and make everything different.
It goes something like this – the artist creates a kind of boilerplate, an artistic canvas to work on, and then they partner with some NFT generation software to make multiple copies. It’s like printing but with more creativity involved.
You can even set the rarity percentage in some of those generations. It’s a new art form, so it may feel like cheating, but it isn’t. It’s multiplying what has already been created in new and interesting ways. Digital artist is the artist of the future!
Engage the Community
Now that everything is settled, you’ll need to engage the community and create hype for your NFT collection.
People do it in many different ways, such as live events or games. Whatever you want to do, you can pretty much accomplish it as long as it creates additional hype for your NFT collection. The budget is the limit, after all!
You will also need a Twitter account. For some reason, the whole crypto world is all on Twitter, tweeting about all the new and fun crypto news. From Twitter, you can go straight to the Discord server for more private interactions.
Those are just some of the tools people use to promote their stuff. If you have some other forms to prompt your NFTs or other platforms, you’d like to use; it’s all fair game. The most important thing is to start getting it out as soon as possible. There is no time to waste, as there will be only more and more problems coming up in the future. Every hesitation gets you further from your goal, so keep the eyes on the prize and do not get distracted.
Create a Website
You need a website or at least a Discord server or a Facebook page. You can also use OpenSea or some other platforms. Use the lazy minting option, so you don’t have to spend money alone if you’re a beginner in this space.
There are many options on the market for you to choose from, don’t resort to only one; you can use multiple platforms to promote yourself.
Although, it would be great to have a single hub where you can send people and just have some place to gather the community. It helps in the long run, for sure.
Create a Smart Contract
So, we have the hype, the product, everything is settled, and now, the crowning moment – creating a smart contract!
Making this whole article about smart contracts seems counterintuitive, so let’s focus on what’s most important. Which is making sure it’s up to your needs.
Just remember to put everything you need in those contracts so that you will not be left alone with a problem in the end. The most important thing to consider is how much royalties you’d like to get and what kind of NFT marketplaces you are going to sell NFTs at. See if you’re allowed to create NFTs based on this concept and if you need the permission of the major shareholders.
As we’ve stated before, this whole article could be on smart contracts, so just remember to put all the necessary details into a formal agreement. Remember, it will stay on the Ethereum blockchain forever to protect or play against you, so be smart about it.
How to Start an NFT Collection – Conclusion!
So, now that you know how to create your NFT collection, you’ll only need to start the show. It’s not an easy piece of bread, but it feels like the future.
There are a lot of possibilities coming up in the crypto space, especially with all the NFT elements we’ve talked about. It’s a decentralized wonderland, full of opportunities and possibilities for you to explore.
It’s the real revolution going on, and if you’d fall off the bandwagon right now, you’ll be having FOMO for the rest of your life.
Also, NFTs are not the same as crypto; you should keep that in mind. Many people compare the two, and rightfully so, it’s from the same space, but in the end, NFTs are just a new way of creating art or digital media, not “just” another coin people are speculating about. Even if crypto fades out, NFTs are here to stay as they are an excellent tool for many artists or people working with media.
Also, thank you so much for checking out our article; it was a blast creating it! NFT holders unite!