An NFT is no longer a neologism. With the clan of digital artists rising to fame, more crypto enthusiasts are pulled toward this mesmerizing space. In this article, we delve into how to make an NFT collection comprising some 10,000 pieces with various steps and processes explained in detail. By the time you reach the end of the article, you will become knowledgeable in making your own NFT collection. Let’s get started.
Why make an NFT Collection?
The million-dollar question is why should you make an NFT collection. Well, developing your own NFT collection is fun, interesting, and lucrative. It offers fun because you spend your time designing animated characters and storylines. It’s interesting as you work on the most emerging technology – blockchains. Finally, it’s lucrative as you are selling a product online that is easier to maintain.
How do NFT collection creators make money?
Usually, NFT launches start with an initial sale price of the NFT, which the customers use to mint or create the NFT on the blockchain. This price gives the creators a bulk upfront payment, for instance, for an NFT collection of 10,000, the bulk payment comes to 0.04 ETH x 10,000 = 400ETH. In addition, if the appropriate conditions are coded in the smart contract, the original creator receives a fraction of the sale as a royalty, each time a secondary sale happens.
However, not all the amount of the royalty goes to the creators’ pockets. Most of it is targeted at building the roadmap and improving the community.
What information do you need or steps should you follow to make an NFT collection?
To set up an NFT collection, you need to follow the below steps:
- Create a concept, brand voice, and roadmap
- Partner with a developer
- Make a list of traits
- Create the traits
- The developer must complete a smart contract on chain generation
- Generate the images through code
- Make the first website
- Create a polished mint date announcement animation
- Create on Twitter
- Create on Discord
- Produce animated NFT news updates on one of the NFTs using Adobe Character Animate
- Pivot the names, concepts, and roadmap
Steps to follow prior to the launch
- Revamp the website
- Continue with NFT news
- Deploy some other marketing strategies
- Make more videos
- Think of giveaways
- Officially launch the smart contract
- Set up the website for minting
Some of the key steps listed above are explained in detail in the upcoming sections.
Exploring the NFT Space to make an NFT collection
The NFT space is amazing yet strange. NFTs are degenerative individuals with a lot of time and a high-risk appetite. NFTs have their own macro culture, their lingo like wgmi and more! What is even more startling is that each NFT collection has its own personality and culture. NFT collections usually boast of a good storyline, values, ethics, goals, and ways of communicating on various channels like Twitter and Discord. If you are an NFT creator, remember that you aren’t just an artist or developer, but rather a responsible community builder.
Finding Your NFT’s Brand Voice and Concept
NFTs are like mesmerizing theaters on the internet. Consequently, the NFT projects aim to define their brand’s voice and concept, which makes sense. One such project creating its own brand voice is Jay Pegs Automart. They claim that they are a certified pre-owned 2007 Kia Sedona dealer in Florida and their marketing is funny. Some cybercriminal hacked their launch for $3 million and they responded to the hacker. The situation was resolved all in the brand voice of a used car dealer. This exemplifies how you could deal with situations by staying in your created NFT world. Some NFT projects focus on educating the community and the world at large. They can use options like a gated social media website, educational curated content, and animated news shows.
Developing Your NFT’s Roadmap
NFTs have their own utility, which is essentially the art or asset they represent. Beyond that, NFT projects may have interesting roadmaps. The NFT roadmap demonstrates the best ways to use the funds after the initial sale towards the benefit of the community. Some projects cover events, fundraisers, animation shows, and gaming. Here are two great ways to enrich your roadmap:
Grant 20% to NFT artists
If you are a connoisseur of art, you would like to build your creativity and passion. NFTs are one of the best ways to nurture artists. That said, you could go ahead and grant 20% of the funds to artists in the NFT community. You, in a way, let the artists and creative people build and expand the collection. After all, the objective is to provide an opportunity for talented people to share their artistic creations and grow the community at large.
Allocate 20% of sales towards mental health initiatives
Often, artists and creators, particularly in the NFT industry, face mental health issues, due to pressure and stress. As a result, it is a noble gesture to allocate, say, 20% of the sales proceeds toward mental health initiatives.
Creating the Art for the 10,000-piece NFT collection
There are multiple ways to generate art for NFT collections. Say, you are creating an NFT with an image of a monkey whose collection you wish to generate. Assume you want to make an NFT collection with 10,000 monkeys. This doesn’t mean you need to draw 10,000 monkeys! One way to accomplish this is to use code and set different rarity percentages. From the art perspective, you could draw a monkey and add traits to it and then draw each trait as its own layer. Alternatively, if you don’t have technical skills, you can always use the no-code generator to create NFT collections.
Understanding the smart contract for an NFT Collection
An NFT needs a smart contract that is deployed on the Ethereum network. The contract, which is made up of code statements, has conditions such as “If someone sends me x ETH, then”:
- Execute the code that picks randomly the traits based on their rarity percentage.
- Overlay the image layers to generate the final image
- Next, load the images to the IPFS
- The image turns into an NFT and is transferred from the smart contract address to the wallet address
- The image appears on the buyer’s wallet and in the marketplaces. The buyer owns the image and can sell or transfer it at any time.
While most of these happen on the chain, the common approach is to create all randomized NFTs off-chain, upload those images at random to the IPFS and they each get associated with a number. When the smart contract calls the mint function, it fetches the image at the mint.
Make an NFT collection with unique items
In most NFT collections, some pieces are more “special” compared to others. With such special traits, these items naturally command a price, higher than the floor price. The floor price is the cheapest price in the entire NFT collection.
The initial customers have fun with NFT mints as the smart contract randomizes them. It’s worth mentioning that in the initial NFT drop, all pieces in the collection come at the same price. If you are fortunate, you may stumble upon one with a rare trait! However, the NFTs sold on secondary marketplaces like OpenSea are relatively higher priced if they showcase some rarity attributes.
If you are minting an NFT, your basic expectation would be that the collection would rise to fame and the floor prices in secondary marketplaces would shoot up. Besides, you would also hope that you can buy one of the rarest pieces in the NFT collection.
Website or Platform for your NFT collection
First, you need a destination UI to direct the users to a place where they can mint their NFTs. Secondary NFT marketplaces like OpenSea, Rarible, and SuperRare offer options to launch your collections on their own platforms. Another website, The-NFT-Generator.com provides options like a button to mint and embed on your site or even host your site. Your website will essentially be a hybrid of Web2 – the basic design, CSS, and HTML and Web3 – the button letting users connect to their wallet and mint the NFT.
Time to build your NFT collections community
Ideally, you will need Twitter. Crypto Twitter is the arena where the show – NFT marketing – goes on! Once you gather some audience on Twitter, you can direct them to Discord, which is more interactive amongst community members to talk about the NFT collections. Next, you can make your marketing more specialized by setting up Collab. Land. This serves as a gated Discord channel, allowing only verified Hodlers of your NFTs to access the chat. This ensures that only the genuinely interested people are in touch, primarily when you are talking about high-priced collections like the Bored Apes.
These measures are not only needed to amplify NFT marketing efforts but also they are a platform where you could release official announcements. There might be scammers around who may try to pretend to be in your project, seeing your success. To keep your NFT investors and enthusiasts away from any such people and ensure that they are informed of the project developments, you must take these initiatives.
Let your NFT Collection make a mark
You must keep in mind that your NFT collection is not the only one for sale. There are several thousand out there. That said, you need to make your collection stand out and carve a niche for itself. Just creating some cute monkeys will not help you reach your goal. Always keep your NFT investors in mind and chalk out suitable schemes and opportunities for them.
NFTs are nascent, yet constantly evolving. With more enthusiasts moving towards the NFT space, the need for really awesome NFTs is growing. To make an NFT collection, you need to follow all the guidelines and go through all the stages outlined in the article. Don’t make the mistake of taking the project as child’s play. You are not just creating an NFT, you need to contribute and educate a whole community. That’s quite a responsibility and needs your true dedication and focused efforts.