Create Project or Policy
Generating your policy ID.
Policy ID serves as a way to uniquely identify and verify the policy associated with a specific native token or set of native tokens. This fingerprint allows users to validate that the policy for a token adheres to the predefined rules.
You have the option to upload and configure your NFT collection using XFORGE on your own. We offer a comprehensive guide to assist you in this process. Follow the steps below to generate a policy ID and establish your royalty percentage and wallet address.
Go to app.xforge.studio and connect your Cardano wallet to log in.
On the top left, there is a [menu] button, then go to [My Projects]. You can also access the [My Projects] button on the Home page.
Click [Create New Project]
Input your project name, and select either New or Existing Policy. If it’s a new project, checkmark [New Policy]. You will then input the date of when the policy will lock, typically three years after the creation of the project. A locked policy means you can’t add more NFTs in that collection, edit metadata, or burn. You can ignore the metadata format option and click [Create].
Once the policy is created, proceed to mint the royalty token. Access the My Projects page, locate the project you created, and click on the [Royalty Token] button. Enter the wallet address where you wish the royalty to be directed and specify the percentage, usually between 5 and 10%. Moreover, it is important to remember that the royalty token must be the first minted token or NFT, within the policy.
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