Are you interested in knowing how to mint an NFT? If yes, then you’re in the right place. The sales volumes of NFTs continued to go up in 2020 and 2021. For example, OpenSea’s total sales volume in 2021 was 14.6 billion, a giant leap from the previous year when the total sales volume was $21.7 million. These stats indicate that nft minting is a valuable activity and requires one to arm themselves with the skills on how to mint an NFT. Anyone can participate in nft minting, and there are various platforms to trade your collectibles. Here, we offer in-depth guidelines to help you understand how to mint an NFT.
What does it mean to mint an nft?
One of the questions that might be shilly-shallying in your mind is ‘what does it mean to mint an nft’? Minting transforms a virtual file into a crypto artwork or virtual asset on the Ethereum network. Once you mint the digital file, it’s stored in the blockchain ecosystem, a distributed ledger. Also, the procedure of uploading a file onto the decentralized ledger is called minting.
While minting the NFT, the artist can program royalties from succeeding sales. These are sales amounts that a creator receives each time their work is sold on the secondary market.
After answering the questions ‘what does it mean to mint an nft’ and ‘what is minting nft,’ the next step is to explore the key steps to follow when minting nfts:
How to mint an nft: critical steps to follow
Each platform has a different procedure on how to mint an nft. But there are specific steps that apply to most of the platforms. Suffice to say, before choosing a platform; many creators may want clarification on how much does it cost to mint an nft as each platform has a different fee. So, it’s vital to choose a platform that falls within your budget.
1. Find a crypto exchange account.
NFT minting requires an artist to have an account with a crypto exchange. As most NFT platforms are based on ether blockchain, you should have ether in your wallet. The tokens facilitate the one-time charge you incur when minting your digital collectibles. Also, a crypto exchange will enable the liquation of crypto into fiat when you wish to convert your tokens.
2. Get a crypto wallet
It’s impossible to sell/purchase virtual artworks without a crypto wallet. Most artists like using metamask in OpenSea because it’s simple to set up and operate. If you want to use metamask, download its plugin from the metamask platform. With the wallet, you can buy ether straightaway from it or purchase tokens from an exchange. The downside of purchasing ether directly from metamask is that the wallet attracts a higher fee. Here are other wallets you should consider:
- · Math Wallet
- · Alphawallet
- · Trust Wallet
- · Coinbase Wallet
3. Send ether to your wallet
Once you’ve created an account with an exchange and downloaded your wallet, the next step is to load your wallet. You can do this by sending ether from the exchange to the wallet. Remember, all exchanges have a choice to send virtual currencies to a wallet with a public address.
4. Sign Up onto the website using your wallet
After setting up your metamask wallet, proceed to its website and click the profile option to link it to the marketplaces. Once you link up your wallet, provide your email address and username for account verification. When the verification goes through, you can start minting your NFTs. The question on ‘how much does it cost to mint an nft’ can also be answered here.
5. The minting procedure
Now that you’ve everything ready, the next step entails how to mint an NFT. To start, find the create button. You’ll see the section where to upload your digital artwork. Make sure that the NFT complies with the style of the marketplace. Once you name the NFT and upload it, move down and tap the ‘create’ choice. Your digital artwork is now ready and on the market. Congrats! The remaining part is to list it and start selling.
6. Selling NFTs
Once you’re through with nft minting, your focus should shift to selling it. Get to your NFT page and click the ‘sell’ option. You’ll be guided to a page with two options: Auction your artwork or sell it at a fixed rate. If your best option is the fixed-rate, select the price you wish to sell it for. Finish listing to complete the procedure. Besides listing your nft in a marketplace, you can also use multiple techniques to market your offerings, including hiring an NFT marketing agency.
If you follow the above steps on how to mint an nft, you will start your journey in NFT and start earning. If you lack knowledge on how to mint an nft, you can hire the services of an agency that understands what is minting nft. Such a company has the experience and tools to give you an upper hand.