This is a tutorial for creating NFTs on Ravencoin from scratch.
There are lots of ways to create NFTs, but this tutorial will demonstrate the easiest route to create Ravencoin NFTs using MangoFarmAssets Wallet, and RavencoinIPFS.com. This post assumes that you don’t have any RVN to start with, and that you’ve never created an asset or an NFT (“Unique Asset”). No previous knowledge or experience with Ravencoin needed.
To create an NFT, you need to first create a root token. This identifies the provenance of the NFT.
Example root asset:
You want to keep these short because the total number of characters you have for your full NFT name is 31 characters, and that includes the number of characters in your root asset.
To create a root asset you will burn 500 RVN. To create an NFT, you’ll burn 5 RVN, and you’ll need a tiny bit of RVN for fees. So, to create a single NFT, you’re going to need about 506 RVN. You should get maybe 24 more RVN if you want RavencoinIPFS.com to store your NFT digital files for a few years.
Get 530 RVN (about $50 at the time of this blog) to complete this tutorial and make your own root asset and you’re first NFT. You have a lot of choices on where you get RVN, but here are two I recommend. tZero if you’re a mobile user, or Binance US if you’re a desktop user. Use Binance if you’re outside the US.
Ok, if you’re in the US, you probably needed to give your name, SSN, and some other information, but you’ve got your 530 RVN, and you’re ready for the next steps.
First, you’ll add your digital files to RavencoinIPFS.com for the meta-data for your root asset. Your root asset is about the issuer of the NFT. In the fictional example of WSHATNER, you, William Shatner, could create a video, or a PDF about yourself and maybe include the reasons for creating NFTs.
Create an account on RavencoinIPFS.com and drag the file to the circle in the browser.
There are many ways to store your digital file without using RavencoinIPFS.com, but this is the easiest. Send 24 RVN to have your file stored for 2 years. Note: If your file expires after 2 years, but you still have a copy of the file, you can send more RVN, or add it to IPFS in other ways, or run IPFS server yourself and store the file.
Creating your wallet and your root token
- Go here: https://mangofarmassets.com/mangowallet
- Click on [Create New Wallet]
- Enter your info.
- Write down your 12-word backup, password, and PIN
Funding your wallet:
- Hit the hamburger menu, and choose [New Address]
- Then send the RVN you got earlier to the address.
- Addresses are 27 characters long, and start with ‘R’
- You can send RVN from any Ravencoin compatible wallet to any other.
Create your root asset:
- Go to https://mangofarmassets.com/assetbuilder
- Fill in the root asset name. It should be short, and must be unique. Capital letters only.
- For now leave the QTY as 1, the Sub-units as 0, and Reissuable should be checked.
- For meta-data, hit [Single File]
- Hit [Click to select file] and select the same file you sent to RavencoinIPFS.com
Ok, now you should have a root asset. You can use the same root asset for as many NFTs as you’d like to make.
Create the meta-data (digital file) for your NFT. This can be an image, or a PDF which describes the rights associated with the NFT.
Drag that file to your account at RavencoinIPFS.com, and get the IPFS content identifier (starts with “Qm”), the same way you did before for the root asset meta-data.
Creating your NFT
- Enter your root asset name (Example: WSHATNER) followed by # followed by the name of your NFT.
- Example: WSHATNER#CARD_1_OF_20
- Leave QTY as 1 because NFTs are always unique.
- For the meta-data, hit [Single File] and upload the same file you uploaded to RavencoinIPFS.com for the NFT digital file.
- Preview and create your asset.
Frequently Asked Questions
Q. I see my root asset twice in my wallet, and one has an ! at the end. Why?
A. Yes, you get your asset, and an admin token. The admin token (with the !) is the token that gives you the right to create sub-assets, and NFTs. Often, a root asset is created with a large QTY, and is used to sell shares, or represent a portion of the company or entity. The admin token should be retained as the ownership is the super-power to create more assets or NFTs under the root asset.
Q. Can I send the admin token and root assets to another wallet?
A. Yes, of course. But, make sure that the wallet supports Ravencoin assets, and not just RVN. Ravencoin Core, RVN Mobile Wallet, Zelcore, and MangoFarmAssets all support assets. Others are being built or adding asset support now.
Q. Can I send my newly created NFT to another wallet?
A. Yes, to any Ravencoin asset-aware wallet. (see previous answer)
Q. What if I want lots of NFTs with the same name?
A. That’s not an NFT, but you can do it. Just create sub-asssets and choose the QTY you’d like. WSHATNER/LOTS_OF_THESE
Q. What if I want NFTs for sub assets?
A. You can do that too. Create WSHATNER/ABC, and then WSHATNER/ABC#MY_NFT. Just remember your 30 character limit. Actually it is 31 when creating NFTs.
Q: What is this sub-asset magic you speak of?
A: You can create sub-assets under your root asset for only 100 RVN, and with any name you want for the sub-asset.