What does it mean to mint NFT? "Minting" an NFT, in simple terms, is to publish your tokens uniquely on the blockchain so that it can be traded online. A simple step of starting this work involves creating a digital wallet, especially a wallet that securely stores cryptocurrencies (the famous wallets are Coinbase, Metamask, and Rainbow). After completion, you can buy a small amount of cryptocurrency to pay the cost of Minting NFT. Finally, you connect your wallet to the online market (such as Rarible, Opensea or Zora) to sell on the platform.

What is an Non-fungible token (NFT)?

NFT represents Non-fungible tokens. NFT converts digital files into digital assets. The NFT token is created and stored on the blockchain (usually Ethereum) as a proof of ownership and source of specific projects. Its working principle is like a digital authenticity certificate, and anyone in the world can easily verify through the blockchain.

When it comes to the NFT space or the NFT world, encrypted collectibles or digital collections can represent various projects, including photos, images, audio or music files, pure text files (documents, PDFs or tweets), 3D models, online games, online games Projects, virtual property, virtual world, Yuan universe, network domain name and other valuable assets.

The Non-fungible tokens ensure that digital art works or any digital items or files are the only token, which can be collected and traded. Many people think they are a revolution in the digital art market.

What is Minting NFT?

What exactly is Minting NFT? Although cryptocurrencies are considered replacement, similar to the legal currency -one dollar can be converted into any other dollar -but NFT is Non-fungible. Each is a unique encryption entity, recorded on the blockchain, so one NFT cannot be replaced with another NFT.

Ethereum blockchain was originally a leading platform for NFT, but Solana, Tezos, Avalanche and Flow are one of many other blockchains that support NFT.

Although NFT may exist in the field of encryption and some is pure digital products, many NFT represents the assets of the real world: such as art, music, collectibles, and property. In this sense, NFT can help eliminate the needs of intermediary agencies around certain asset exchange.

And because NFT is indeed unique, you can use these tokens to create new investment forms. For example, by substitutional currency of property or art, the unique "shares" or part of these assets can be sold, which may increase the value of certain assets.

How is NFT Minting?

Whether you want to save your own assets (such as art) or create NFT for sales or transactions, it is easy to use the correct tools to learn NFT coins. Another thing you need: some backgrounds or general knowledge of encryption space or blockchain technology.

You need to create personal information after you have a encrypted wallet and get the funds required to create NFT on the blockchain. This confirms what you want to sell and how you intend to sell it.

Then, just upload the necessary files and mint or create your new token. After the creation is completed, you can start selling your NFT. Like everything, you need to consider the cost.

How long does it take to mint NFT?

According to your familiarity with the encryption platform, Minting NFT may take less than 30 minutes or hours.

It is not easy to measure the Minting NFT. However, almost all NFT platforms, tools and NFT markets make the creation process of NFT simpler.

Install a browser called Metamask's Chrome extension. One Ethereum wallet is a default step to create an account or verify the main NFT market.

Convert your digital content to NFT, submit the file to the NFT market, and sell it for it. This is similar to publishing the video to YouTube, uploading the music file to Spotify, and even listed digital products or eBay on Amazon and eBay. Product sales, or ETSY.

Upload files (PNG, JPG, GIF, MP3 or MP4), add title and subtitles to it, add description, set up taxes, and then sell.

Remember, this is just the process of Minting or release. Before Minting NFT, you have to spend time to create it. Then you need to promote and sell your products. The following are the basic steps to follow.

How to mint NFT

Although the ambitious NFT minters need to make some decisions on which specific tools need to use, the basic steps for creating NTF are basically the same.

1. Create a unique asset

The first step of Minting NFT involves determines which type of unique assets you want to create. There is a whole digital asset world there, from weapons in the game to digital trading cards, to songs, videos, books, animations, and so on.

For example, suppose you want to create a NFT, it is a digital art. You need to convert your digital art into data that exists on the blockchain.

2. Buy tokens

You need to buy cryptocurrencies used on the blockchain you choose. In fact, the blockchain will also affect your choice of wallet services and markets, because some can only cooperate with some other services.

In our example, you will buy some Ether coins, which are native cryptocurrencies of Ethereum to pay the transaction fee on Ethereum. The easiest way is to establish cryptocurrency exchanges.

3. Stock the cryptocurrency into the non -hosted wallet

You need a hot wallet connected to the Internet to store your funds. Encrypted wallet is an application that allows users to interact and connect with the encryption network and its account.

It is very important to obtain a non -hosting encryption wallet for NFT coin, so you can fully control your funds -no third party participation. You have a wallet's private key.

(The hosting wallet is a wallet that can be assigned by the cryptocurrency exchange. They are more convenient, but you cannot control your private key.)

4. Choose assets and add it to the NFT market

Next, you need to choose a NFT market; there are many options. OpenSea, Mintable, Holaplex, Objkt and Rarible are all markets suitable for NFT minters.

Some markets collect coinage fees from users, and there may be expenses related to starting your account (for example, Ethereum fuel costs), listing NFT, and transactions on the platform.

5. Add your assets to the NFT collection

Although each market is about creating NFT from your account, the main points are the same: select the artwork you want to mint, fill in the details (collectible name, description, etc.) Assets are added to your collection.

With the NFT you collect, you can start, marketing and selling them.

What are the benefits of Minting NFT?

Although each potential NFT mintor has its own priority matters, there are usually some benefits to create NFT:

• Democratization of ownership: Create NFT to allow multi -party shares to own digital assets.

• Sell unique digital assets: you can not only trades, purchase or sell asset shares, but in the future artists may even get a share of sales.

• Storage and preservation: You can store the value of assets in a tangible manner -similar to the method of Minting physical coins with a specific precious metal concentration. In addition, due to the security of the blockchain and the inherent scarcity of NFT, it is generally believed that preservation of value in a digital manner is safe.

Does minting an NFT cost money?

Yes. Most NFT and NFT markets use the Ethereum blockchain smart contract storage and hosting.

It is costly to use the Ethereum blockchain (creating NFT, purchase, sell or transfer assets in Ethereum address). This cost is called "gas fee" or "GWEI".

This cost is usually between $ 50 and 200, depending on the needs of Ethereum network or NFT platform.

Is it worth Minting NFT?

If your goal of creating NFT is to further develop your existing business or art business, it may be worth spending time and energy to get higher -level exposure.

If you want to create the next Cryptokitties sensation and get millions of dollars from some great NFTs, it may be unrealistic. NFT market -as you can see from dozens of platforms and services available today -very crowded.

Can you mint an NFT for free?

NO. At present, the largest NFT market custody is on the Ethereum blockchain and the Binance Intelligent Chain Agreement.

When Minting or creating NFT, what you can do is to choose a more affordable platform.

The most popular and economical NFT market on the Ethereum blockchain is: Opensea NFT, Rarible and Mintable.

The most popular markets on the Binance Smart Chain Network are Bakeryswap, JuggerWorld and Treasureland.

After selecting the platform, you need a digital wallet or Ethereum wallet before starting NFT.

The most popular digital wallets are Metamask, Trust Wallet, Coinbase Wallet and Rainbow.

When you create a wallet, it generates a "seed phrase", which is a string consisting of 12 random words that allows you to access your funds when you lose access to access or forget the wallet password.

Cryptocurrency wallets or digital wallets are composed of "public wallet address" and "private key". "Public Wallet Address" is usually used to transfer any cryptocurrency or NFT from one wallet to another, and the private key or secret key allows you to control your funds.

Another cryptocurrency wallet that is popular and worth mentioning is FortMatic/Magic, which allows users to log in with email address and password. FortMatic (MAGIC) wallet will create and store "seed phrases" or "key" safely and simply.

How to buy and sell NFT?

You will need a cryptocurrency wallet (Metamask, Trust Wallet, or Coinbase Wallet), just like Tokenmaker, and then you need to deposit some Ethereum (ETH).

WePlay Collectibles also use Ethereum. It is very simple to buy unique digital art from WEPLAY Collectibles. You can complete it through the Binance NFT market. If you already have one, you can use your Binance account to buy and sell digital art on the market. If you have not registered Binance, please register and create your digital wallet immediately to store cryptocurrencies, collecting digital art, etc.

Your Binance wallet requires ETH, BNB or busd to buy NFT. After depositing any of these cryptocurrencies into your wallet, you can bid any Non-fungible token that can be accessed in the Binance NFT market.

The above content introduces what is Minting NFT and how to mint NFT. Minting NFT, or an Non-fungible token, is a unique digital asset on the blockchain for sale and transaction. NFT usually uses a certain type of art (graphics, audio or video) form, and even game assets of some virtual world -but they can also represent the real world assets, such as art, collectibles and property. Converting your digital labor into a blockchain -based asset is a field that may destroy the way of compensation by creators. If you are an artist or digital entrepreneur, the NFT field is worth trying.