In 2021, the hype of NFT went off the charts when people started to realize digital art has real value and you can have ownership of it. There have been more than a handful of successful NFT projects by then. If you are one of them who is interested to be part of the new industry and learning how to mint an NFT then you have come to the right place.
Here, we will show you step by step with full guidance so that at the end of this article, you can have your own NFT getting minted.
What does NFT mean?
NFT is the short form of Non-fungible tokens. These are unique tokens that cannot be replaced by another one. Each token has its own identity which can distinguish it from others. NFTs are mainly used to prove ownership over any digital assets, for example, digital artworks, in-game assets, videos, music, and anything else that can be digitally tokenized.
What does NFT minting mean?
The process of converting a digital file or data to a crypto collectible is known as NFT minting. It is impossible to delete, edit or modify the digital item or file once it is stored in the blockchain. The process that includes uploading an item to the blockchain, similar to the creation of fiat coins, is known as “minting.”
A Complete Guide to Minting NFTs
Every NFT marketplace has a unique process and regulation for minting NFTs. However, most of the marketplace follows the steps that are relevant to all markets in some form or another
1. Creating and linking your wallet
- First, you need to open and connect a crypto wallet to an NFT trading platform.
- For any marketplace, click the wallet symbol or in the “Create button in the top corner of the interface. Any other marketplace will use similar prompts for linking your wallet and creating a profile.
- You will be asked to link your wallet through a QR code scanner on your smartphone device or download a wallet onto your computer, it depends on the wallet you will be using.
- After the steps are done, your crypto wallet will be linked and your marketplace profile will be generated successfully. Then fill out your profile completely.
2. Purchasing Ether
The next phase of NFT minting leads directly to Ether or ETH which is widely known as Ethereum blockchain’s cryptocurrency. Through Ethereum, the bulk of NFT development initiatives is now based on. As a result, is it quite logical to select Ethereum as the blockchain platform of choice for this topic.
When you mint your art as NFT, you permanently produce documentation on the piece of art on the blockchain. The wallet address clearly displays as the originator of the work in the documentation which provides a clear mark of ownership. The record remains static and unchanged.
3. Transferring Ether from your exchange to your crypto wallet
After you have successfully created your wallet and exchange, the next step is to transfer the Ether from your exchange to your crypto wallet. All exchanges permit users to send cryptocurrency to a wallet with a public address. After you open your wallet in the browser, you will be able to clearly view your wallet’s public address.
4. Fund your crypto wallet with cryptocurrency
Selling your NFT work requires some computation on the part of the network. The translation thus requires some money to pay which is commonly referred to as “gas fee”.
Make sure to have acquired enough Ethereum before you perform your first sale. You can buy Ether from any available cryptocurrency exchange. The Ethereum must be stored on a cryptocurrency trading app and deposited in your wallet.
You can transfer the cryptocurrency from your wallet to your NFT marketplace account depending on the marketplace.
5. Register on the platform with your crypto wallet
After you have opened your wallet, the next part is to register on the NFT platform. First, go to the platform’s website by selecting the profile option. There you will be allowed to link your crypto wallet to the marketplace.
You will find an unidentified profile after linking your wallet. To make sure to verify, provide your email address and username. You will be able to create an NFT after you have successfully verified your account.
6. Mint the NFT
The final step in minting an NFT is quite easy. The complexity is reduced since many platforms are focusing on user-friendly interfaces. The interface will have a create button where you can mint an NFT. Then you will be redirected to a page where you can upload your NFT.
After naming and uploading your NFT successfully, you have to scroll down and click on the “create” option. The NFT you have created will be listed on the platform, but at the same time, you can still advertise it for sale.
7. List your NFT
In the interface, you will be able to see an option to sell on your NFT page. Just simply click on it and you will be taken to a page where you will be able to auction off your NFT or sell it for a predetermined fee.
If your goal is to pursue the Fixed-price option, then you must decide how much you want to sell it for and its defend How Much Does It Cost To Create an NFT. Complete the list and finish the procedure. And finally, your first NFT would have been successfully minted at this point.
8. Managing the NFT business
Once your NFT has been posted for sale and established, then the next step is to start interacting with the potential buyers. You have the option to build more NFT’s and add them to your collection. Having a collection of your NFT art may even increase the interest of an art collector or speculator.
NFTs are quite popular but developing them can be very difficult. At the same time, the millions of NFT trading also raise concerns about the NFT minting expenses that follow.