The past few weeks I was looking for a more sustainable way of creating and distributing NFTs, instead of using the Ethereum Network which requires huge amounts of energy and high gas fees. Today I came across the Algorand Asset Manager which enables you to create your own asset on the Algorand platform. This includes the creation of your own currency, as well as your own NFTs.
How To Get Started
First off you need to create a new account and wallet on MyAlgo. Remember to securely store your seed phrase after setting up your wallet, this is your only possibility to recover the wallet. Next you can send 2–3 Algos to your new wallet to cover upcoming fees. After, select the Asset Manager from the drop-down menu, which will bring you to a new page where you can start creating your new asset.
As you can see in the image above, now you can start to customize your own NFT. First you can give it your desired name and link a unit to the NFT. Next you should decide on the total supply of the created asset. As we are going for a NFT (Non-Fungible-Token) it is advised to set it to one. Important: Set decimals to zero!
In the next step you can link your NFT to an URL where you will host it. Many hosting services can be found online for this need. One possilbe service is Pinata Cloud. On there you can upload your art and copy the link into the intended box, as seen above. You need to remember to shorten the URL using bitly so it does not extend the limitation of 32 characters. The Metadata Hash can be left blank.
Advanced Options:
Using the advanced options it is possible to create a Reserve Address, Manager Address, Freeze Address, Clawback Address and set the Asset Status between frozen/unfrozen. By deselecting the Freeze and Clawback Address your NFT will become fully decentralizied and is not in your possession once sold/donated.
Create The NFT
Now that everything is set up you can go and create your own NFT. Below you can find a few NFTs I made myself using the same approach.
CryptoEarthling #1
CryptoEarthling #2
CryptoEarthling #3
CryptoEarthling #4
