The Gist: How to mint NFTs? What are the steps to mint NFTs on NFTs marketplaces? If you are struggling with these questions then you have arrived at the right place. In this blog, we have listed 7 easy steps on how to mint NFTs?.
Non-fungible tokens or NFTs are unique digital assets like music, art, avatars, etc. that serve as proof of ownership to an individual. These tokens are non-fungible because they cannot be replaced or exchanged with other items. For example, the US dollar is fungible because you can trade one dollar into two pieces of 50 cents. However, this formula does not apply to NFT collections.
What makes an NFT art unique? Tokenization makes each NFT unique and individual. The metadata and unique identification codes distinguish one token from another. This is simply a digital certificate that is stored and maintained within the blockchain network. This enables the ownership public and direct to the people.
Why mint NFT?
Artists are minting NFTs in millions of dollars. The prime example of this is a Pak, an anonymous digital artist who sold NFTs for $91.8 million on Nifty Gateway. That doesn’t mean you need to be an artist to sell your NFT collections on the NFT marketplace.
Anyone can mint NFTs. Yes, you heard it right, whether you are an artist or not minting NFTs is not a big task if your approach is strategical. There are many NFT marketplaces among which you can choose if you plan to create your NFT collections. Some of the prominent NFTs marketplaces are Rarible, OpenSea, Foundation, and Nifty Gateway.
Important note: Most markets are solely based on the Ethereum blockchain network. You need to have a portfolio that is supported by the Ethereum network and fill it with native cryptocurrency, Ether.
So, without further ado, let’s go through the step-by-step guide to mint NFTs straight away.
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Open crypto exchange account
First and foremost, you need to open a crypto exchange account. A crypto exchange account will help you create a wallet and add cryptocurrency preferably Ethereum. As previously mentioned, most NFTs marketplaces support Ethereum blockchain which is why the native Ether currency is needed. You should purchase Ether from your trade-in and transfer it to your wallet to purchase NFT later.
Why create a crypto exchange account? Well, NFTs support the Ethereum blockchain protocol. In addition, NFT is negotiated via cryptocurrencies, so a crypto exchange account is important. There are many cryptographic trading platforms where you may open your cryptographic exchange account. Some of the prominent trading platforms are as follows.
- Coinbase Exchange
- FTX
- Kraken
- Bybit
- KuCoin
- Huobi Global
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Create and Link a crypto wallet
The cryptographic wallet allows you to exchange NFT artwork in various NFT markets. MetaMask being the popular crypto portfolio there are plenty of other portfolios like Coinbase, eToro, etc. You simply need to download any cryptographic wallet from the Internet. For instance, go to the MetaMask website and add the wallet plugin.
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Send Ether from exchange to wallet
Now that you have created a trade account and a portfolio, the third phase leads you transfering Ether from the trade to your portfolio. All cryptographic interchange platforms allow you to transfer cryptographic pieces into your wallet. All cryptocurrencies exchanges take place on a public address. For instance, to display the public address of the wallet on MetaMask, visit the MetaMask website and open your crypto wallet.
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Fund your wallet with enough Ether
Minting NFTs costs some amount of Ethereum as gas fees. Gas fees are charged during minting NFTs on blockchain networks. To make the first NFT sale, make sure you have sufficient Ethereum (or other currencies you have added) on your wallet.
Furthermore, the gas fees depend on the NFTs marketplace where you want to sell. Ethereum blockchain charges gas fees between $50 and $700. If you want to mint your NFT without paying gas charges, you can mint it through the Polygon blockchain network. However, not many NFT marketplaces support the Polygon.
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Create your account on the NFT marketplace
Now that you have switched the fund from the foreign exchange account to your wallet, the next step is to add your wallet to NFT platform. Select any of the NFT marketplace and tap on the profile option. After connecting the wallet with the NFT platform, enter your email credentials to verify the account. Now you are all set to mint your NFT artworks.
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Minting an NFT
To mint your NFT, click on the create button. You will be prompted to upload an NFT on a new page. Make sure that your NFT matches the format described in the NFT marketplace. After uploading NFT click on the create button.
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Selling an NFT
After the successful creation of NFT, you will be rerouted to the new page. Search for the ‘Sell’ option and click on it. A new page will appear where you will have two options first, auction your NFT and second, sell your NFT at a fixed price. Click any one of them to complete the process.
Prior to placing your NFT on sale, the NFT platform will ask you to initialize the portfolio. Once you have initialized your portfolio, your NFT sale price will be confirmed.
Developing NFTs is a tough task, especially for the novice. You should research different aspects before creating NFT collections. Moreover, the progressive growth of the NFT market is increasing gas fees. This has also made it tough for newcomers to mint their NFTs on big platforms.
Nevertheless, a strategic approach will help them create their NFTs without facing many challenges. The variety of platforms also creates attractive opportunities for NFT enthusiasts.
About Krazy Kong NFTs
In case you are planning to purchase NFTs then Krazy Kong NFTs are the best options for you.
Krazy Kong is one of the modern apes who is trying to get over his tumultuous past and fit into modern human society. As he has been living outside of his normal habitat he is constantly absorbing information through various media including television, cinema, and the internet.
The main motive of this NFT project is to bring awareness towards environmental and social issues including deforestation, animal rights, inequality, conflict within and between animals and humans.