Briefing - What is this tutorial all about?
If you're new to the world of NFTs, you will definitely come across theoretical and also practical challenges. This tutorial will give you a brief intro to NFTs, their technical opportunities, and an introduction to how to use the Sqwid dApp.
Relevance - Why do I need this tutorial?
NFTs are probably the hottest tech features in 2022 and our Sqwid dApp built on Reef is an amazing place to publish your NFT collection for a very low minting cost (compared to legacy Ethereum or other layer 1 blockchains in the space).
See our blockchain comparison chart below:
See our NFT marketplace comparison chart below:
What is an NFT?
Below are three key advantages of NFTs that can expand NFTs use case beyond art:
Because each individual NFT has its own token, it has an identity so we can distinguish it from other assets. This means that NFTs convert resources into tokens so that they can move within a peer-to-peer blockchain system. These tokens are linked to a smart contract that provides a set of rules for that specific token.
Transactions recorded on blockchains are reliable because the information cannot be changed and is fully visible at all times globally. This means every record, action, or progress is shared among all of the members of the blockchain.
- Digital Ownership
Transactions, where ownership of something changes hands, have typically depended on layers of middlemen to establish trust in the transaction, exchange contracts, and ensure that money changes hands. The potential of NFTs goes much further because they completely change the rules of ownership.
Prerequisites - What do I need to get started?
- Reef chain extension
- Reef extension account for Mainnet
- Bind EVM address here.
- An asset to be deployed as NFT
🚀 Getting started - we are ready to go!
Step1: Visit the Sqwid dApp on https://sqwid.app/
Step2: If you have a Reef EVM account with a balance on Mainnet, connect to the Sqwid dApp.
Click on Connect in the top right corner. You will see a dropdown list just like me. Now you can choose your Mainnet account and make sure you choose Mainnet in the tiny dropdown within the list.
Step3: We successfully connected our Reef Mainnet account
As you can see I got some REEF on Mainnet, more than enough to perform some transactions on Sqwid. You can now hit View Profile on the top right and check out your individual space. Nothing there yet? Let's dive into it!
Step4: Click on Sales in the menu
All the displayed NFTs are for sale. You can now click on your favorite NFT and see the creator (and the royalty fee), the current owner (which is in this case the creator), and the collection to which the NFT is belonging to.
You can also check out the Sale price, which is currently at 12.000 REEF. You could buy this NFT by clicking Buy.
Step5: Now, finally let's create our own NFT and publish it to the Sqwid marketplace!
You will arrive at this interface, where we can upload a file on the left side (your creation aka NFT). PNG, JPEG, MP4 with max 30mb are supported.
To the right side, you will find some fields to input information (so-called metadata of your NFT). This is very important as it specifies what your NFT is about, your royalties, wallet address, etc.
Step6: Upload a file from your system
I am now uploading this image of a clownfish as a JPEG.
Step7: Add metadata to your NFT
Let us call the NFT “Clownfish”, describe it with “Clownfish with coral reef”, add my Reef EVM address (or leave blank to use my current address) to the Royalty receiver, specify the Royalties value with “10%” and set the Number of Copies to “1”.
Now we have set up all the hard facts. Let us describe the collection in the next step.
The Collection will be called “Reef”, describe it with “Fish swimming around Reef” and choose a cover image. Click Create Collection, then choose the collection and you are good to move on.
We can now specify some Properties. These will make your NFT searchable and differentiable from similar NFTs.
Our Properties can be for example:
- “background” (key) = “purple coral” (value)
- “color” = “orange”
- “pattern” = “white stripes”
- “theme” = “underwater”
- “scarcity” = “super rare”
Step8: Lets click Create and finish our NFT creation
As this NFT will be minted to the Reef blockchain, we will have to sign a transaction and pay transaction fees.
Step9: View your fresh minted NFT in your profile
To make sure everything is fine, you can review your NFT within your profile. Therefore click on Account and hit View Profile.
Go to “Available” and see what is there! Our brand-new NFT.
Step10: Enjoy more features on the Sqwid marketplace
Congrats on your first NFT! Now you're set up and ready to Put On Sale, Create Loan Proposal, Create Auction, or Create Raffle.
We are going to look at these features in the next videos. Stay tuned!
Debriefing - What are the most important takeaways from this tutorial?
✅ Understood the basics of NFTs and their features
✅ Getting comfortable with a decentral application and establishing connection to the Reef blockchain
✅ Created first NFT and minted it to the Reef blockchain
Check out more tutorials about the Reef ecosystem here on our blog and stay tuned for more detailed videos on loans, auctions, and raffles on the Sqwid dApp.