Creating your own smart contract for your NFTs is key, and something that sooner or later you’ll need to do if you want to have platform independence in the long term. And there are other advantages as well! In this post we’ll tell you How To Create an NFT Smart Contract without writing any code.
What is a Smart Contract?
A smart contract is a set of code that is stored in one of the blocks of the blockchain. In the NFT world, the smart contract acts as if it were a folder that contains different NFTs. As different standards are used by applications, we can use the smart contract to sell our NFTs on different platforms such as Opensea, Rarible, etc.
What are the advantages of creating your own smart contract?
Creating your own smart contract gives you many advantages over using the shared smart contract of platforms such as Opensea.
On the one hand, the biggest advantage of creating your own smart contract is the fact that it gives you total independence from the platform you use. If you mint your art on Opensea’s shared smart contract, for example, you risk having your collection capped at any time ( as has already happened ) or blown up by a policy change, because they have the power to change the file associated with the NFT. This, if you want your NFT to last over time, is something we want to avoid.
The fact of having your own smart contract, makes your collection have a higher level in the face of possible collectors because it has a long-term value and they know that it will not disappear. In fact, we ourselves recommend that you be wary of pfp projects that do not have their own smart contract , since the chances of it being a scam are much greater.
Not only does it give you an advantage over other platforms, but also allows you to have an easier time with the manipulation of your tokens and their use as payment methods for your project. This is especially important if you plan to sell merchandise or services through your platform.
Also, creating your own smart contract has many advantages over using a shared one. For example, if you want to make Web3 integrations such as creating a website where the owners of your NFTs have access to certain benefits or content , doing it with Opensea’s smart contract makes everything very complicated. This is because token ids are completely random and have ridiculously large numbers , whereas in your own smart contract, they are ordered from 1 to the last NFT.
Finally, Having your own smart contract is that it allows you to choose the storage of the metadata of the NFTs. This is important, since choosing a decentralized storage will mean that the long term of the NFT is not tied to a server going down.
Manifold.xyz is a totally free tool to create smart contracts on Ethereum without programming and there is no doubt why it has become one of the most popular. This tool allows you to create smart contracts and NFTs in Ethereum and even establish shared royalties for all marketplaces that are compatible with this option.
To create a smart contract for your own collection, go to the Manifold application and hit Start New Contract .
From there, you can choose if you want it to be an ERC-721 (1/1) or ERC-1155 (1/x) NFT, and then write the name of your collection, as well as its initials. Then, you can add an ASCII markup.
To create a smart contract on Manifold.xyz, you’ll need to have some ETH in your Rinkeby wallet. The first step is to request free ETH within this network in a faucet or “tap.”
This fact of lying the smart contract in the test network allows us to verify that everything is fine and to carry out different tests without having to spend money on gas fees. In fact, we can mint NFTs on this blockchain and test on Opensea testnets just like the real platform on Ethereum.
Later, we will be able to see the smart contracts that we have in our Dashboard and manage them, either by creating NFTs or giving access to other wallets, among many other things.
The process of minting an NFT on the OpenSea platform is quite simple and can be performed from the OpenSea dashboard by clicking on the three dots on the right-hand side and selecting “Tokens”. The process is similar to that of Opensea. In addition, this platform allows users to add properties as they can do in Opensea, which comes in handy for pfp-type collections.
Once we are sure that the smart contract has everything correct, we can launch it to the mainnet (Ethereum) by clicking Edit on the Dashboard and clicking on Confirm .
One of the most interesting things about Manifold is that you can give access to other wallets so that they can modify the smart contract, allowing them to add features like lazy mining or burning a token in order to obtain another. For this feature, though, you must have a minimum level of programming knowledge.
Rarible: Smart Contracts on Ethereum, Tezos and Flow
Rarible is a marketplace for non-fungible tokens (NFTs) that make it easy to create smart contracts on the Ethereum, Tezos and Flow blockchains.
Once you’ve chosen a blockchain, created an account and logged in, you can create a smart contract for your collection. You should enter the name of your collection, the contract’s address and symbol (some initials). The process is the same across all blockchains.
NiftyKit: A Complete Solution For Polygon and Ethereum
NiftyKit is a tool that lets you launch smart contracts or collections in Ethereum, as well as in the Polygon blockchain. The only downside is that you have to pay a monthly subscription of 9.99 USD to mint, and buy credits for it.
Even though you have to pay for this tool, it greatly simplifies the creation of your smart contract and the mining of NFTs. You can also collaborate with other people to mint in your smart contract, and Rarible’s platform allows you to sell these NFTs as well.
The smart contract credits that need to be purchased are expensive. To create a smart contract on Polygon, you need $39.99 in credits; to mint an NFT on Ethereum, it costs $150; and to launch a smart contract on Ethereum, you have to spend $1499. If you want to launch your smart contract in Polygon without learning how to code, NiftyKit is one of the few platforms that allow us to do it. However, if you want it done on Ethereum, I recommend using Manifold for free.
Studio 721 is a tool for creating your own smart contract on Ethereum. This tool allows you to modify the code generated by smart contract creation, allowing you to make changes, and it also allows you to generate a project folder with its Artkit in the smart contract.
Studio721 offers more advanced functionality for NFTs, but this flexibility is also one of its biggest assets. For example, you can develop an NFT that can be minted only by users who own another NFT or choose where in a smart contract the metadata for your NFT will be stored. They also enable you to create a user interface to create new NFTs directly from your contract.
How to upload Smart Contract or collection in Opensea?
Once you have created a collection and minted an NFT, it will automatically appear on your profile under My Collections . If for some reason it doesn’t work, you can use this link or import a smart contract from My Collections .
Opensea’s default collection settings do not include information or established royalties, but you can change this on a collection-by-collection basis.
What to do if you are already Using Opensea smart contract?
Let’s say we’ve started a collection in the Opensea smart contract and we want to transfer it to our own smart contract. What options do we have in this case?
Basically, we have two options:
- We can generate a new smart contract and re-mint it to all the collectors who own your NFTs, sending the new version to them as an airdrop. Ideally, collectors will burn their old copies of your NFT first—but of course that’s not guaranteed!
- Another approach is to programmatically generate a Web3 interface that only allows those who have certain non-fungible tokens (NFTs) to log in and access the new version of your smart contract, which destroys the old NFT.
Would you mind sharing how you went about creating your own smart contract? We’d love to hear from you!
Do you need a smart contract for NFT?
Yes, you do. The reason why is simple: NFTs are digital assets, and smart contracts are what makes digital assets work. Without a smart contract, your NFT will just be an image on the blockchain. With a smart contract, your NFT becomes a product with value that can be traded, exchanged, and sold in the same way as any other cryptocurrency or token.
How much is a smart contract for NFT?
The cost of deploying an ERC-721 smart contract currently ranges from $500 to $3,000. This is because Ethereum gas costs fluctuate.
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