How to make an NFT on BSC for $0.40

so one of the most important things you need to know about nfts is the royalty fee is not transparent if you are the first buyer and some of these like chuggerworld can have a 99.99 royalty fee how to make nfts on binance smart chain now the benefits of using finance smart chain compared to ethereum are fees the fees are significantly lower and faster alright so in this video i'm going to show you how to make nfts on binance smart chain and before we get started there are a few critical things you need to know before you even invest in nfts because you should see how they're created and the fees you would incur if you're buying or selling these because there's a lot of hidden fees and we'll get to all of that but before we do if you can hit that like button i would appreciate it and let's get started so first thing you should know whenever you're trading nfts on binance smart chain the nfts are not interchangeable between platforms so if you create an nft on air nfts you won't be able to sell it on bakery swap marketplace if you buy an nft from featured by binance you won't be able to sell it on jugger world yes that is an nft platform on finance smart chain and there are six that at least i know of of where you can trade buy creates nfts on finance smart chain so before investing any money in an nft you also have to consider will this platform last a year two years five years from now because if you're spending several thousand dollars or millions of dollars on an nft you're going to want to make sure that platform lasts so you'll be able to sell it later prerequisites to buying nfts on binet smartchain you're going to need a trust wallet and you're going to need some bnb bnb is what you're going to be using for the transaction gas fees if you want to interact with any of the binance smart chain nft platforms you're going to need some bnb so if you're interacting with anything on binance smart chain you should absolutely get trust wallet trust wallet is an official partner of binance or binance's official crypto wallet and it's free you don't need a binance account if you go to the binance website go to these icons up here and then select trust wallet that will take you to the official trustwallet.com website where you should then directly click on the link for the app store of your uh device now you should absolutely go through the official website to get to the link of the app because there are a lot of scammers out there who will try to promote fake apps so you download it and then you provide your keys to them now that's very dangerous i don't want you to get scammed go directly to the trust wallet website or go to binance.com and click to the trustwallet website through there then download the app and if you don't want to get trust wallet that's fine too you can also use metamask you would just have to convert your metamask network to binance marching and then you'd have to get some bnb so right now we are in coin market cap we are in binance coin bnb and then if we look at the markets page bnb is available on binance ftx gate io kucoin and then there's a few more obviously buying it from binance directly will get you the best rate and if you don't have a binance account i do have a referral code in the description i'm trying to make this video very concise about making nfts on binance smart chain so here's a link to another video if you need help uh walking through the process for setting up metamask for binance smart chain all right if you made it through those steps and you have bmb and you have trust wallet you can start interacting with any of these nft platforms now i did make a chart here there are six there's air nfts bakery swap finance nft featured by binance jugger world and refinable i don't know why jugger world makes uh me laugh but that is an interesting name for an nft platform now a real quick thing here bakery swap marketplace it's kind of a centralized decentralized thing it's anyone can create an nft on their platform but not anyone can sell on there you have to apply to be a registered artist and then you can sell on bakery swap you can create an nft on bakery swap no problem but you won't be able to sell it on there so you might want to look into that before dedicating a lot of time to it and binance nft through binance.com that is a centralized system you do need a binance.com account and for if you want to mint nfts on binance the official website you will have to be an authorized creator so you have to register as an artist with binance then there's featured by binance that's the decentralized binance nft platform anyone can create an nft there then there's juggerworld and refinable i'm going to leave a link to this airtable chart that i made and it has the urls there are service fees when you buy and sell that's how these nft platforms make their money and that information is not transparent it's really hard to find that information so if you know it let me know in the comments and then i can add that to this table and then you know there's the minting fees uh the the mint fee on air nfts is pretty high because they make you pay the storage fees of that data so i don't know if you want to be involved with that bakery swap has a minimum 0.01 b and b minting fee plus gas uh binance nft the centralized platform i have no idea and then featured by binance juggerworld and refinable are less than a dollar it's less than 40 cents uh worth of b and b at the moment and bnb is worth about 300 bucks then you have uniques or multiples can you only create one copy of that nft can you create a thousand copies unlimited copies each platform has a different amount you can set so i have that information here actually i'll zoom in so anyone on mobile can see it a lot clearer and then the royalty limit this is this one pains me if you are buying an nft and you are the first buyer you don't see the royalty fee i made several nfts on multiple platforms i set the royalty very high and you can't see that that is critical information so one of the most important things you need to know about nfts is the royalty fee is not transparent if you are the first buyer and some of these like juggerworld can have a 99.99 royalty fee which means the artist who originally created that nft will get just about everything when you sell it so there is no resell market for that nft and you are stuck with it air nfts has no royalties bakery swap up to 50 these are limits set by the platform it can be zero percent and it can be up to 50 percent same with featured by finance juggerworld very dangerous i don't know if you want to actually buy anything on sugar world be careful there and refinable has 30 percent these platforms should absolutely show the royalty fee before anyone buys anything so they're not stuck with an nft that they can't sell imagine getting stuck with an nft with a 99.9 percent royalty fee you just lost money that's just it technically that's a scam i think you got scam there file size limit so each of these have different file size limits depending on if it's image or if it's a video and the one with the highest limits is refinable at the moment also with refinable you do have to use their tokens if you want access to like their premium features at a base level of just creating a unique nft uh you don't need any of their platform tokens the refinable coin and for your information you don't need any platform tokens to use any of these binance smart chain nft platforms and then i added some notes here the file storage fee for air nfts makes it a little pricey bakery swap has to go through a vetting system so you can't just list your nft you might be able to create it it'd be in your wallet but you can't sell it or trade it so that makes it difficult the binance nft platform requires a binance.com account featured by binance i had a lot of trouble with this platform my nfts kept getting stuck like the files wouldn't upload that's another thing with each of these uh nft platforms there's no progress bar sometimes you might think the page is stuck but it's just uploading and it could take several minutes it could take an hour there's no progress bar so you don't really know if things are working correctly jugger world surprisingly no notes it works as intended and refinable tokens are required to unlock the additional features now let's make an nft on refinable so i do have some revivable tokens i am not advising you to buy it i just own some because i wanted to make these nfts and i wanted to try the unlocking features the platform itself is just okay but they do have the highest file size limits for creating nfts especially with video so here we are in the refinable website and we are going to select connect wallet trust wallet so you can select trustwallet well trustwallet uses wallet connect and that is within the trust wallet app wallet connect scan the qr code connect now it's asking for my signature within the app just make sure you check back in the app to hit ok and now we're in i'm going to zoom out a little so you can see everything and we can go to my profile and it shows the nfts that i've created if you don't have any refinable tokens you would only be able to make one nfts at a time uh so there are some limitations there don't buy any of these platform tokens unless you think the platform's gonna do well you have to think are they going to be around in a year are they gonna be around in five years so you have to ask yourself that before making any type of investment so it does take a while to load and i've only uploaded videos on here and i'm warning you now if you do buy any of these the royalty fee is set to the maximum and that's percent but we're going to make another nft with a very low royalty so but when we hit create it says how to create a new collectible or how to mint an nft on binance smart chain you're going to have to approve three transactions on your wallet that's mint approve for all and sign i understand images have a max file size of 50 while video has a max file size of 100 megabytes and up to 3 minutes for images you're gonna get some incredibly high quality pictures there i'm gonna upload this video and let's give this collection a name uh your money in crypto the refinable token also gives you additional tags not that it really matters i don't think a lot of people are using this platform and i don't think many people are searching by tags so i'm just gonna put video and dan i always have trouble with descriptions but this is what happens when you start investing in crypto and we're gonna auction it and we can create now let's let's sell for a fixed price we can make 100 000 i don't know how many we can make let's see how many we can do and we'll do a 5 royalty right now i have a limit of 100 on my account so i'm going to make 100 collectibles and this is the video i think you should listen to it with sound and get the full experience i'll leave a link in the description we're going to select create a collectible found some issues with the collectible you're trying to create i forgot to set a price so fixed price and we're gonna sell this for 0.001 bnb so it's less than a dollar if you're watching this video and you want this nft you can have it for very cheap and the royalty is going to be five percent treat collectible our wallet is going to get some prompts to approve this transaction and right now there is a confirmed transaction fee and the network fee is 33 cents gonna select approve wait for it to update the minting process might take a few minutes this is the case with bigger files so watch out for that approving now that it says approving we have to go back to our wallet and hit the next transaction confirmation there is another three cents we're going to have to provide and now we sign the transaction that was three things we had to do within our wallet to mint and nft on refinable congratulations your collectible has been created it is a video with some sound if we go to my profile you can see the nfts that i've created on binance smart chain and links will be in the description and that's how you make an nft on binance smart chain for less than a dollar the price will vary between platforms everything is still pretty new in the nft world so you might experience some issues i don't know which platform is going to be around in a few years binance has the biggest shot since they can broadcast it to their users and be very careful buying expensive nfts because you don't know if you can resell it in a few years so once again remember with these nfts they are available in your wallet and on the platform it was created in but you can't cross different platforms so you need that platform to survive if you buy an nft somewhere and if this has been helpful i would appreciate it if you hit that like button and i hope you got your full value for today

Channel: Full Value Dan

Views: 36,061

Keywords: how to make nft, how to make an nft, how to create an nft, how to make nft art, how to make nfts, binance smart chain, nft crypto, non fungible token, crypto art, how to make nft token, nft cryptocurrency, nft crypto tokens, nft crypto how to make, nft crypto art how to make, nft crypto how to buy

Id: Sdn-OBer-Ig

Length: 14min 42sec (882 seconds)

Published: Sun Jul 04 2021