OpenSea is by far the most popular place to buy NFTs, but if you want to mint an NFT, how does it work?
Non-fungible tokens or NFTs are slowly becoming a profitable extension of the digital crypto world. Digital artists, companies, and just everyday investors are all creating NFTs to sell, with most going through OpenSea.
Here's what you need to know about minting on OpenSea.
What Is NFT Minting?
In crypto terminology, minting refers to a process where a digital file is tokenized using advanced cryptography. Tokenization, further is a process, that successfully converts a digital merch/collectable into a token that can be stored in an online wallet.
This is clearly a popular phenomenon now. As of 2022, the NFT market has expanded exponentially from $350 million to a whopping $23 billion market in one year.
The special feature about minting an NFT is that the cryptography utilized to tokenize digital merch registers the name of the owner in a blockchain, hence, endorsing its exclusivity to the entire network.
Such sole identification allows users to own an item independently without having to share it with any other person. It also eliminates the chances of replication of forgery to maintain the item's rarity quotient intact in the long run.
How To Mint NFTs On OpenSea
Here's a step-by-step guide on how to successfully mint an NFT on OpenSea, the biggest marketplace for trading NFTs online.
- First, register with OpenSea to commence minting. and link a wallet address to OpenSea to store the NFTs minted.
- Once you have linked your wallet to OpenSea, visit the OpenSea dashboard and select "My Collection".
- After clicking on My Collection, click on the "Create" button to commence the minting process.
- Later on, a user will find different sections that are required to be filled to create an NFT such as URL, description, and information related to category and your social network and IDs.
- Save the NFT made in the "collection" category. You can either save it or sell it to the highest bidder available.
[Image via Shubham Dhage via Unsplash]