How To Mint NFTs? How are NFTs minted and can you mint one? Yes, anyone can mint NFTs. There are multiple NFT marketplaces to choose from if you want to sell your art online.
Some of the most prominent are OpenSea, Raible, super rare, and Foundation.NFTs provide unique, irreplaceable ownership of digital assets like art, and music, among other things. With artists earning millions from music, collectibles, and designs, it seems the NFT train is going full steam ahead.
The cryptocurrency mania has propelled the non-fungible tokens (NFTs) or digital collectibles market to new heights in 2021. Total NFT sales volume is expected to have topped $17 billion by the end of the year, per reports. But how are these NFTs minted and can you mint one? Yes, anyone can mint NFTs. There are multiple NFT marketplaces to choose from if you want to sell your art online. Some of the most prominent are OpenSea, Raible, super rare, and Foundation.
Currently, many of these marketplaces are only on the Ethereum network, so you must have its native currency Ether, and a wallet compatible with the Ethereum network. Here’s a guide to minting your own NFTs.
How To Mint NFTs? A Step-By-Step Guide
In a way, minting an NFT is similar to the concept behind how coins and paper money of a country is made. NFTs can be minted through the NFTb marketplace, where a creator uploads artwork and adds a title and description as well as other information. Once the NFT is created, the creator can sell it on the NFTb marketplace.
Each marketplace has a different process for mint NFTs. However, most of the steps mentioned below will be applicable in some form to all marketplaces. The only major difference in various platforms available for minting NFTs is the fees they charge.
Let’s dig deeper with this step-by-step guide detailing everything you need to mint an NFT on NFTb.
- Get A Crypto Exchange Account
- Get A Crypto Wallet
- Send Ether From Your Exchange To Your Wallet
- Signup On The Platform Using Your Wallet
- Minting An NFT
- Selling Your NFT
If you already don’t have an account with a crypto exchange, then you will need to make one.
As mentioned above, most NFT marketplaces are currently based on the Ethereum platform, and therefore, you will need to have ether in your wallet to pay for the one-time fee for minting your NFT.
The use of a crypto exchange will help you liquidate if you want to convert it into traditional fiat.
Get A Crypto Exchange Account :
From financial institutions to everyday investors, more and more people are interested in cryptocurrency these days. To get in on the action, you need a crypto exchange account where you can buy and sell digital currencies, like Bitcoin, Ethereum, and Dogecoin.
To help you pick the right account for your needs, Forbes Advisor combed through the leading platforms to determine the best crypto exchanges available today.
Get A Crypto Wallet :
A crypto wallet is essential if you want to buy/sell NFTs in any NFT marketplace.
The most popular wallet used with OpenSea, for example, is metamask. It is a browser plugin, and it is easy to set up. You can download the wallet plugin from the metamask website.
With the metamask wallet, you also have the option to directly buy ether from it, but you should know that the commission fee for it is higher than exchanges.
Send Ether From Your Exchange To Your Wallet :
Ethereum wallets are applications that let you interact with your Ethereum account. Think of it as an internet banking app – without the bank. Your wallet lets you read your balance, send transactions, and connect to applications.
- An Ethereum account is an entity that can send transactions and has a balance.
- An Ethereum account has an Ethereum address like an inbox has an email address. You can use this to send funds to an account.
- A wallet is a product that lets you manage your Ethereum account. It allows you to view your account balance, send transactions, and more.
All exchanges have the option to send crypto to a wallet with a public address. You will be able to see your wallet’s public address when you open your wallet plugin on the browser.
Once you have set up your wallet and exchange, you need to send Ether from your exchange to your wallet.
Signup On The Platform Using Your Wallet
Once you have opened your wallet, go to the website of the platform and click on the profile option. You will see an option to connect your wallet with the marketplace.
In order to avail wallet and its services, the user needs to register for the wallet. The Wallet registration link will be available on the bank portal so that, a new user (prospect user) can also access and register for the wallet.
A prospect user needs to follow the wallet registration process which involves a few steps.
Steps involved in wallet registration;
- A verification code will be sent to the user’s mobile number entered as the first step of registration.
- The user needs to enter the verification code as received.
- On successful authentication, the user needs to enter primary details and create login credentials to get the registration process completed. As part of this registration, the user needs to set a security question-answer and accept terms and conditions.
- Once registered, the user landed on the wallet dashboard and can start using the wallet.
After connecting your wallet, you will have an unnamed profile. Enter your email address and a username to verify your account. After verifying, you will be set to mint an NFT.
Minting An NFT :
To mint an NFT, look for the create button.
1. Go to the Featured By Binance homepage and click [Create]. You will need to connect your crypto wallet to do that.
2. Next, you just need to upload your digital files (images, audio, videos, etc.).
3. Make sure to add a description (metadata) to your NFT. You will also have to choose between creating individual NFTs or a Collection (a group of NFTs).
You will be redirected to a page where you need to upload your NFT (Ensure that the NFT you are minting is in a format allowed on the marketplace site). After naming your NFT and uploading it, scroll down and click on the create option.
Your NFT will then be on the marketplace, but you still need to list it for selling.
Selling Your NFT :
On your NFT page, you will see the option to sell. Click on it.
You will be redirected to a page where you will have the option to auction your NFT or sell it for a fixed price. If you are going the fixed price route, choose the price you want to sell it. Complete listing to finish the process.
Before the NFT is listed for sale, the platform will ask you to initialize your wallet. Finally, you need to confirm the selling price through the wallet.
Your first NFT would have been minted now.
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