In simple terms, a non-fungible item means that it cannot be exchanged for another. In that sense, an NFT is unique. In the rapidly emerging world of Blockchains, an NFT is a certification of validity on a Blockchain, making it traceable and available to all to determine ownership.
Non-Fungible Tokens (NFTs) have become one of the most popular use cases of Blockchain technology. It is gaining traction as an additional source of income for artists and creators.
What is NFT minting?
NFTs are not created. Rather, in popular Blockchain terminology, they are minted. Minting an NFT basically means converting a digital file into a blockchain-based NFT.
Usually, NFTs are minted on platforms that also facilitate trading of these tokens, these platforms are called NFT Marketplaces. NFT marketplaces allow users to convert their digital items into NFTs within minutes.
The leading NFT marketplaces globally are OpenSea, Rarible, SolSea, Magic Eden, Binance NFT and so many others.
How to mint NFT on Ethereum Blockchain using metamask wallet
The first step in minting NFT on the ethereum blockchain is to get Ether. This can be done on crypto exchanges like Binance P2P. The Ethereum will be used to pay for the one-off fee of minting NFTs.
Once your Metamask wallet is set up, send ethereum from your exchange account to your metamask wallet and sign up for OpenSea using your metamask wallet.
To sign up on OpenSea, go to opensea.io(use the same browser where your MetaMask is installed). Once on the website, click “Profile” on the top-right corner. You will be prompted to connect your crypto wallet and asked to accept the terms and conditions on your Metamask.
Now that your opensea profile is set, it’s time to mint your NFT. To mint an NFT on OpenSea, click “Create” next to your profile picture on the top right corner.
At this stage, you can upload a supported file from your computer as an NFT. After uploading a file and naming your NFT, simply scroll down and click “create”. And boom, your NFT will appear on OpenSea.
If you wish to list it for sale following that, click “sell” on the top right. You can sell it for a fixed price or you can put it up for auction.
Before it’s listed for sale, OpenSea will ask you to sign a few things through your MetaMask wallet. Since it’s your first time selling on OpenSea, you’ll need to initialize your wallet. This is where you get to spend that Ethereum you bought and transferred to your wallet.
When you’re ready, click “complete listing”. OpenSea will ask you to approve the item for sale, and it will ask you to confirm the price you want to list it for. All you need to do is just sign them off through MetaMask.
And boom! That’s it.
Note that OpenSea will charge 2.5% in commission fees when the NFT sells.
How to mint NFT on Solana blockchain using phantom wallet
The first step to mint NFT on the Solana blockchain using Phantom wallet is to get the app installed. You can get your wallet funded through an exchange like we explained in the first section.
After your wallet is funded, you’re ready to start minting NFTs on Solana. Firstly, we would explain how to mint NFT on the solana blockchain using a collection’s website and how to mint on a marketplace(SolSea).
To get started, make sure the mint website url is announced by the project’s official twitter, discord or telegram. Paste the mint link on your phantom browser and click “connect”.
Approve Phantom to connect to the website and click the “MINT” button and approve the transaction. It will go through if you have enough $SOL in your wallet to pay the mint fee and gas fee.
That’s it, you would see your minted NFT in your phantom wallet.
To mint a Solana NFT on a marketplace(Solsea). The first step is to create an account on Solsea.io. You can do this by connecting your wallet to the platform. Simply click on the Connect Wallet option at the top right and choose Phantom.
After connecting, you’ll be redirected to Solsea’s sign-in page. Enter your email account and a password and your wallet will be automatically connected to the Solsea platform.
On Solsea, you need to create an NFT collection where you will store your NFTs. Go to the “Create” tab and click on Collection. Choose a title and add a description for your collection.
Following that, click on “Create Collection” and sign the transactions to mint the collection. After creating the NFT collection, go to the Create tab and choose “NFT” then upload the file.
Note that the accepted formats are JPEG, PNG, or GIF (image), and MOV or MP4 (video). Next, choose a title and add a description for your NFT.
After this, you can set royalty payment details. Click on Mint NFT, you’ll have to sign the transactions in order to mint your NFT. And boom, you can now click on “See your Mint” to check out your new NFT.
To list and sell is pretty simple, go to Wallet, and on the drop-down bar, click on “NFTs In My Wallet”. Click on “List NFT” and choose the price. Once done, go back to My Wallet and check out your listed NFT.
Note that you are going to be receiving a percentage revenue each time that your NFT is sold on the secondary market.
How to avoid minting NFT projects that are scam
In order not to fall victim to scams in the NFT space, it’s better to use a burner wallet while minting.
A burner wallet is basically a temporary wallet that you can use to mint NFTs or make any transactions on a dApp. The idea behind this is to create a wallet separate from your main wallet where you keep only the minimum required amount to mint an NFT and/or pay for gas.
The reason why this is important is because there are growing instances of NFT scams. Through phishing attacks and other means, hackers can gain access to your wallet and can drain your wallet of all the crypto and NFTs. However, by using a burner wallet, you can keep your digital assets safe.
