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It’s not new that the Non-fungible tokens (NFT) are unique and are blockchain-based tokens that offer proof of ownership of the digital assets. They are a non-interchangeable unit of data stored in a ledger. Currently, NFTs are the talk of the town, gaining popularity by the minute, selling of arts, in-game items, unique clothes or shoes, music, etc. But some of us don’t know how to mint it, someone like me, so I came across an article on how a beginner can mint an NFT, so I decided to share with my fellow newbies so we all can learn about it. And the most popular NFT marketplace is the OpenSea.
Creating an Account
So first of all, we start by creating an account in a crypto exchange platform because that’s the only way to buy and Ethereum for minting the NFTs and it’s a one-off fee, you will only be able to start cashing out once your NFTs start selling, and it can be cashed out or converted into another cryptocurrency.
Next is setting up your crypto wallet
The only way the NFT marketplace works are with crypto wallets and one of the popular Ethereum wallet that operates well as a browser plugin is the METAMASK, once you install it, it then gives you access to store Ethereum tokens and NFTs. And of course, when setting the wallet, a password will be needed for you to create and you will also be assigned a unique recovery phrase that is secret to only you and it’s a 12-word phrase in total. The secret recovery phrase must be stored properly and secretly to avoid anyone gaining access to it because it can be used to access your wallet.
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The next step is sending some Ethereum to your wallet
After the process of setting the crypto wallet is done, some Ethereum needs to be sent to the wallet, and to send it, you will need to go to the exchange section where you will see an option of send or withdraw, input the amount to send and also include your Ethereum public address that is automatically generated when setting up an account.
Now you have to sign up for an NFT marketplace.
Remember earlier I said OpeSea is the largest and popular NFT marketplace, so to buy and sell NFTs you will need to use the OpenSea because it houses over 90% of accounts for NFT trades. So to sign up for OpenSea, first you will need to pay for a one-off initialization cost in Ethereum and it’s based on the unit of Ethereum transaction fees and it usually fluctuates depending on the market. The process of signing up in OpenSea is relatively easy, first, you will need to sign in to your META MASK account, then visit the OpenSea site using where the browser where the MetaMask plugin is installed, and by clicking connect, you will need to enter a preferred username and an email address to verify the OpenSea account.
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Now for the best part and what we have been waiting for minting
Minting an NFT on OpenSea comes with some steps, first, you click create, then to create a collection of NFTs click on my collections. Then it’s up to you to decide if you want to upload a file from our computer or mobile, then give your NFT a name, then include a short description and lastly click on create. To sell your NFT all you have to do is list it up for sale by clicking on sell and you can either put it up for a fixed price or put it up for an auction. If selling for a fixed price, there won’t be a need for a gas fee while for auctions, the seller has to pay the gas fee (the unit of Ethereum transaction fees). It is important to also know that there is a commission fee OpenSea charges and I think around 2.5 percent if you successfully sell your NFT. When fully ready, you can click on the complete listing, then sign a few things through your MetaMask wallet and initialize it only when there are enough funds, and then click confirm, and then it will be initialized within a few minutes. After confirming the item and the sale price, you can sign off through MetaMask, and congratulations your NFT is minted.