If we look just a few years back, then most of us weren’t even aware of NFT and the metaverse. But today, when we look up, the madness and fan base of these new-age Web3 products is very high, and they are the hottest selling cake in the market.
From social media to news channels, everyone is talking about the potential of NFT and metaverse and the transformation they will bring when adopted by the mass population.
Metaverse has seen some big names supporting and entering the space like the largest bank of the US, JP Morgan, became the first lender to enter metaverse by creating a lounge called “Onyx Lounge” in Decentraland.
In a similar manner, back in November 2021, Metaverse Group, which is a subsidiary company of Tokens.com, had purchased a plot of land on Decentraland worth roughly $2.43 million.
Decentraland and NFT
NFT (Non-Fungible Tokens) came into existence in 2015, while the Decentraland was launched in 2017, but it was opened to the public in 2020.
Decentraland is a metaverse platform which has its own marketplace and builder for creating NFT. You can buy, sell and create your own NFT; along with that, you can also trade in virtual land.
NFT can be anything, i.e. artwork, virtual land and asserts, characters or avatars, character wearables, game weapons, digital paintings, etc. But wearable types of NFT are what can be the best thing to get started with Decentraland. Thus in this article, we will focus on the complete guide for creating and publishing the NFT on Decentraland.
Step-By-Step Guide to create NFT in Decentraland Marketplace
Step 1: Go to the builder in the Decentraland.
Step 2: Click on the SIGN IN
You will see a screen which states, “You can use the MetaMask extension or your email account.”
Step 3: Click on connect
Here you can see that you are given three options:
- MetaMask- Using a browser extension
- Fortmatic- Using your email
- WalletConnect- Using a mobile wallet
You can select any of the options you want to go ahead with, i.e. if you already have an account on MetaMask and WalletConnect, then you can go ahead with them; else, you can use Fortmatic as it provides you with an email sign-in option.
Step 4: Click on the option you want to move forward with. Here we have used Fortmatic as it gives easy access through email verification.
You will see a screen just like this as you will click on Fortmatic.
Step 5: Now click on Continue
You will see a screen just like this here just enter your email, and now again, click on sign-in/login.
Step 6: You will receive the OTP by email, so enter it for verification purpose
Step 7: Now, you will get a new screen in which you will need to create a password for this Fortmatic account.
Step 8: Now click on sign-in, and you will see a new screen stating, “This app requests your Digital signature to continue.” so click on confirm
Step 9: Now you will see a screen something like which is shown below
Note: As in this article, as we are focusing on NFTs; thus, we won’t explore much about Scenes, Land and Names.
Step 10: Click on Collections
Initially, there won’t be any items so now there are two options:
- Either you create an NFT and then publish it here
- Use the NFT you own or the one you have already created
i) Create an NFT
You can use 3D software like Blender to create your own NFT.
Before you start this process, it is essential that you once go through the Publishing Wearables Criteria.
Along with that, if you need any help and guidance in creating the wearables NFT, you can surely go through the Creating Wearables Guide.
ii) Using the NFT already created or owned
You won’t need to do much work in this option as you already have the NFT and just need to submit it for publishing.
Step 11: Click on the New Collection and give the name of your choice
We have named the Collection “UDT1”
Step 12: Click on NEW ITEM
Step 13: Upload the NFT or item from the storage of your computer
Here you can see that there are options provided for the form of NFT or item:
- ZIP
- GLTF
- GLB
- PNG
Thus while uploading the NFT or item, you need to make sure that it is in any of the above formats; else, if it isn’t, you can just convert it to any of the above formats very easily
Step 14: Now fill in the necessary details and click on CREATE
As seen in the above image, you will need to answer 4 basic questions like:
- Select the body shape for your item
- Enter a name for your item
- How rare is this item? (Select from the dropdown list)
- What’s the category of this item? (Select from the dropdown list)
Remember: Here, we have used a random photo of the hat just for the purpose of demonstration, and the details filled are also not relevant to it, but you need to answer them correctly
Step 15: Now you can see that the newly uploaded NFT or item is visible in your collections, so click on SET PRICE
Step 16: Enter the selling price on which you would love others to buy it, and then click on SUBMIT
Remember: The price you will set is in the cryptocurrency MANA
Step 17: Click on PUBLISH
Step 18: Now you need to click on MANA and then click on PROCEED
From the above screen, it is clear that you are authorizing MANA to operate the contract on your behalf.
Step 19: Click on Confirm
As seen in the above image, Fortmatic is requesting your digital signature for the purpose of authentication.
Step 20: Now, after the successful authentication, you will need to pay fees in order to submit your item or items for publishing.
Currently, Decentraland is charging $500 per item in MANA cryptocurrency, which is non-refundable if your item doesn’t get approved by the Curation Committee, who is the authority in charge to look over the approval of items.
The Curation Committee might reject your item or items if it violates any of their policies; else, you will mostly get feedback about what to improve further. After resolving those issues, you can again resubmit them for approval.
After the approval from the Curation Committee, you can sell them to others in the Decentraland Marketplace.
Summary
Decentraland is an excellent platform through which you can buy, sell and even create your own NFTs. Along with that, you can also trade virtual land.
You can use 3D software like Blender to create your own NFTs, i.e. collectable items, wearables, etc. and then import them on Decentraland. And to publish your items, you will need to pay $500 per item in the form of MANA cryptocurrency and only after that the Curation Committee will review your item.
If the Curation Committee gives you the approval only after that, you will be able to start selling it, and in case it is rejected, the fee of $500 isn’t refundable, but most of the time, the Curation Committee gives suggestions on what to improve. After working on the suggested improvements, you can again resubmit for approval.
In short, Decentraland has a lot of things to serve you if you are really interested in the entire space of NFTs and metaverse.
