Calling all artists, poets, influencers, and creators: are you ready to get into the NFT game? For those of you who are ready to take this leap into the metaverse (or just to start getting paid for your art), then we’ll tell you what you need to know about how to mint an NFT.
We understand that you may not be ready yet to create an NFT, and may need more information. We’ve discussed NFTs more thoroughly on our Insights page, so if you need more information, start here for our NFT guide. Otherwise here’s a step-by-step guide for how to mint an NFT.
Open a Cryptocurrency Wallet
The first step in NFT minting is to open a cryptocurrency wallet (assuming you don’t already have one). As The Motley Fool explains, “A blockchain or crypto wallet is a way to manage, secure, and use cryptocurrencies such as Bitcoin and Ethereum and other digital assets based on a blockchain (for example, an NFT).” Here you have some choices—a software wallet like Coinbase, MetaMask, or FTX, or hardware versions (often USB devices) that store information like those by Trezor or Ledger. As fast as the crypto industry changes, there are likely to be other options no matter when you read this, so do some digging to ensure a smoother NFT minting process.
Select a Minting Platform
The next step in minting your NFT is to pick an NFT minting platform and marketplace. CNBC says, “there are multiple NFT marketplaces to choose from if you want to sell your art online. Some of the most prominent are OpenSea, Rarible, SuperRare, 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.” Some cryptocurrency wallets offer NFT minting services and marketplace access as well.
Create Your Item
Next, you’ll want to create and explain the item you are minting an NFT for. The Motley Fool says “From the home page of the marketplace (on OpenSea, but others are similar), click on the ‘”Create’” button in the upper right corner. From there you’ll be prompted to upload a digital file and give your NFT a name. Optional fields include a description for your work, an external link to more info (like your website), and which blockchain to base the NFT on.” Set your price, determine the royalty you’ll collect whenever your item is sold in the future, and you are on to the next step in the NFT minting process.
Fund Your “Gas Fee”
As The Motley Fool explains, “Selling an NFT (recording that a transaction has taken place between two parties on a blockchain) requires the network to do some computing. That transaction will cost some money, which is known as a “gas fee.” This means that you will need to buy some of the Ethereum (or whatever currency you are using in the marketplace) to cover the fees.
List Your Item for Sale
The final step in minting an NFT is listing your item for sale. With a click of a button, you’ll launch your item into the marketplace, where you can market it, promote it, or just wait for a buyer. You have created and minted an NFT.
Want to learn more about breaking into the NFT game? Or find our how we can help you build your own community? Start here.