There have been more than a handful of successful NFT projects during 2021. This might probably make you wonder how NFTs work and if creating and minting are the same thing. Despite the explosion of popularity they have had, not many people know how to mint an NFT.
That’s why we created this definitive guide on the steps of minting an NFT on the popular NFT marketplaces.
Table of contents
What is NFT minting?
Non-fungible tokens, or NFTs, are unique tokens that cannot be replaced by another. NFTs are used to prove ownership over digital assets, such as digital artworks, in-game assets, videos, music, and anything else that can be digitally tokenized.
NFT minting is the process of converting a digital file to a crypto collectible. It is impossible to delete, edit or modify the digital item or file stored on a blockchain. The process of uploading an item to the blockchain, similar to the creation of fiat coins, is called “minting.”
Because there are various ways to mint an NFT, some have created standards for minting NFTs. The most familiar standards on Ethereum are the ERC-1155 and the ERC-721. These standards make minting and rendering NFTs much simpler on marketplaces.
The ERC-721 standard requires a JSON metadata schema. Some of the metadata that you will typically see in this standard is: title, type, properties, URI (Uniform Resource Identifier), and a description among other information. Contrary to popular belief, NFTs are extremely simple to create and mint.
Some of the most popular blockchains that support NFTs are:
- Binance Smart Chain
- Flow by Dapper Labs
However, most NFT minting is done on the Ethereum blockchain, as it is the first choice for most digital art and digital content creators and artists.
NFT minting is similar to how metal coins are minted and then put into circulation. Non-fungible tokens can also be “minted” once they have been created. This transforms a file into a digital asset that can be traded or purchased with cryptocurrencies directly on a digital marketplace.
The creator of the NFT may schedule royalties during the minting process. This allows him or her to receive a commission whenever the work is sold or traded on the secondary markets.
So on to the question of how to mint an NFT. There are two ways you can mint an NFT:
- You can mint NFTs directly from the project’s website
- On an NFT marketplace
Most projects will allow collectors and investors to mint NFTs directly from their website.
How to mint NFT directly on a project’s website
For instance, Baby Ghosts is an NFT collection that allows new investors to mint NFTs directly on their website. We’ll use this project as an example of how you can mint a new NFT on the blockchain.
Step 1. Find new projects that allow new investors to mint NFTs
You can find new projects on most forums dedicated to the NFT community. But we strongly recommend that you follow all the steps from the “How to find profitable NFTs” guide before you actually spend money on it.
The example we’ll use is Baby Ghosts, but we haven’t researched this project and can’t recommend it. Please do your own research before investing.
Step 2. Install MetaMask wallet
As with any crypto asset, you will need a cryptocurrency wallet to mint and trade NFTs. The most popular wallet is MetaMask, and that’s the wallet we will be using.
MetaMask is a noncustodial wallet that you can easily download from the official MetaMask website and install as an extension on your browser.
Step 3. Create a MetaMask account
If you haven’t used MetaMask before, you will need to create a new crypto wallet. The process is fairly simple and straightforward. Follow the steps and make sure to write down (using pen and paper) the seed phrase, which will be needed to later recover your wallet.
If you require extra help, make sure to check our complete guide about MetaMask.
Step 4. Fund MetaMask wallet with crypto
An empty crypto wallet is worth nothing. That’s why you will need to fund it with crypto before you can start minting NFTs.
After you’ve created your MetaMask wallet, you can send funds using the wallet address displayed at the top, under the account name.
Since this is an Ethereum project, you will need ETH to mint the NFTs. You can send ETH funds to the wallet’s address from centralized exchanges that allow credit or debit cards to crypto purchases, such as Binance, Coinbase, or Crypto.com.
Make sure to check the price of minting an NFT before transferring funds to ensure that you will have enough for minting and gas fees. The minting price should be clearly specified on the page of the project.
Step 5. Connect wallet to the project’s website
After you’ve created and funded the Ethereum crypto wallet, you can connect your wallet to the project’s website and start minting NFTs.
Click on Connect MetaMask, although the name of the button might be different from project to project. You have to look for the button to connect the wallet.
In some cases, the button might not appear unless you click first on the MetaMask icon on your browser. It will ask you to reload the webpage and then to enter the MetaMask wallet password to sign in. After you do that, you will be able to connect the wallet to the project’s website.
Step 6. Select how many NFTs you want to mint
On this specific project’s website, Baby Ghosts, investors can choose to mint between one and 20 NFTs. Each NFT minting will cost you 0.05 ETH. Furthermore, you do not get to choose the NFT that you will get, as they are generated randomly, as with all generative art. However, if the project takes off, your NFTs might end up popular, and you can make a profit from selling them on an NFT marketplace.
After choosing the number of NFTs to mint, simply click on the Mint button and confirm the transaction from your MetaMask wallet.
Minting on an NFT marketplace
One of the easiest ways to mint NFTs is to visit one of the popular NFT platforms and marketplaces and mint an NFT there.
How to mint an NFT
We’ll show you the step-by-step guide on how to mint on NFT on the most popular NFT marketplaces (OpenSea, Rarible, and SuperRare).
How to mint an NFT on OpenSea
Step 1. Connect your wallet to OpenSea
Go to the OpenSea marketplace and connect your wallet by clicking on the top right wallet icon.
OpenSea supports many Ethereum wallets, including MetaMask, Coinbase Wallet, and Fortmatic
We will show you how to use OpenSea with MetaMask, but you can use any wallet you want.
After you select the wallet, you will have to follow the steps and confirm the connection to the OpenSea marketplace.
Step 2. Create an NFT collection
Since most successful NFTs are part of a collection, it is recommended that you create a collection instead of a standalone NFT.
Click on your account icon (top-right) > My collections, and you will see your created collections.
Click on Create a collection to start a new NFT collection on OpenSea.
On the Create a collection page, you will have to add all the details about your NFT collection, including:
- Logo image
- Featured image
- Banner image
- Pick a category (Art, Collectibles, Photography, Sports, Trading Cards, Utility)
- Links (website, Discord, Instagram, Medium, Telegram)
- Royalties percentage (max 10%)
- Blockchain to mint the NFTs (Ethereum or Polygon)
- Payment tokens (ETH and WETH on Ethereum and ETH on Polygon)
- Display theme on OpenSea
After you specify all of these details, you can click on Create to create your NFT collection.
Step 3. Add items to the NFT collection on OpenSea
After you have created your collection, you can start adding items to your NFT collection on OpenSea. On the collection page, click on Add item (top-right) to start to add items.
On the Create New Item page, you will need to specify all the details for your new NFT, including:
- Image, Video, Audio, or 3D Model
- External Link
- Properties, levels stats, unlockable content, explicit content
- Blockchain (Ethereum or Polygon)
- Freeze metadata
After you fill in all the details, you can click Create to create the NFT.
While your NFT is now created, nobody will be able to find it on the explore page until you list it for sale.
Step 4. Sell your NFTs on OpenSea
To benefit from your digital art, you have to list your NFT for sale and find the right buyers for the collection.
This might be the trickiest part, as artists cannot control the market and might need to work developing the right marketing strategy to successfully sell their first NFT.
New artists will have to pay two fees on OpenSea.
Firstly, you will need to initialize your account for selling NFTs. This is a fee that might cost you between $70 and $300, but it depends on the gas fee on the Ethereum network at the moment you are performing the transaction. Afterwards, OpenSea access is granted to your NFTs via the second transaction, which costs between $10 and $30, but again, it’s a matter of gas fees.
Check out this gas fee indicator for Ethereum to get an idea of current gas fees.
After all of these steps, you have successfully learned how to mint an NFT on OpenSea.
How to mint an NFT on Rarible
How to mint an NFT on Rarible, one of the most popular NFT marketplaces out there.
Step 1. Connect your wallet to Rarible
The first step is to go to Rarible and connect your wallet. Make sure to choose the correct wallet, if you have multiple ones.
If you’re new to Rarible, make sure to add all the details to your profile, such as name and social media accounts, so that your community can easily find you on the platform. There is no gas fee for setting your account on Rarible.
Step 2. Create an NFT
On Rarible, you can choose between three blockchains to create your NFTs: Ethereum, Flow, and Tezos. We will show you how to mint an NFT on the Ethereum network on Rarible. Click on Create.
After you’re all set, you can click on Create and choose between creating a single NFT or multiple NFTs (a collection). Select the one that best fits your needs, but remember that NFT collections tend to perform better over time, considering the NFTs we’ve observed for the past year.
We will choose to create Multiple.
On the Create multiple collectibles, you will have to set all the details for your collection, such as:
- Price (Fixed price or open for bids)
- Unlock content
- Choose Collection
- Who pays for minting (you or the buyer)
- Royalties (Maximum is 50%)
- Number of copies
After you provide all these details, click on Create item to mint your NFT on Rarible.
Step 3. Mint the NFT on Rarible
After you click on Create item, Rarible will ask you to mint the NFT on the blockchain.
Again, there is a 2.5% gas fee that you need to pay to successfully mint an NFT using the Rarible marketplace.
After you confirm the gas fee from your wallet, your NFT is minted, and you only need to approve it and put it on sale by confirming the transaction from your wallet.
Note that when you first mint and list an NFT on Rarible, you will have two fees: the minting fee and fee to sign the collection, which is only charged once.
Congrats, you have now learned how to mint an NFT on Rarible.
How to mint an NFT on SuperRare
SuperRare is selective with its artists, and not everyone can mint NFTs on the marketplace. You need to be whitelisted before you can mint your NFT collection on SuperRare.
Step 1. Connect your wallet to SuperRare
Go to SuperRare marketplace and connect your wallet. Click on Sign in > Select a wallet.
We will use MetaMask, but you can use any of the supported wallets.
Step 2. Apply for an artist profile on SuperRare
After you have connected your wallet to SuperRare, scroll down to the bottom of the page and find the link to Submit for artist profile. This should take you to a form in which the artist should answer specific questions about his art, including:
- Link to his social media
- A 1-minute introductory video
- Link to a selection of the artworks
- The story of the art pieces
After you have been granted artist rights on the platform, you can start minting NFTs using SuperRare.
Step 3. Create a new NFT collection
After you’ve been accepted as an artist on SuperRare, you can start minting NFTs.
You need to provide details for each item you want to mint, such as:
- Upload image/video file
- Artwork title
- Original creator
- Year created
After you provide all the details, you can click on Issue token to mint your NFT on SuperRare.
After your item is authenticated, you will have to pay the gas fee for minting the NFT. Again, it is important to check the Ethereum gas price.
You can customize the gas fee and pay a lower fee, if you are not in a rush to mint the NFT. However, this means it will take longer to mint the NFT on the blockchain.
Confirm the transaction from your wallet, once you are happy with all the details. SuperRare will display a message to let you know when the NFT has been minted and is visible on your profile.
And this is how you mint an NFT on SuperRare. Now you only have to wait for bids (offers) and accept the one that you consider appropriate for your NFT art.
Which is the best platform for minting NFTs?
This guide is meant to help newcomers understand the basics of how to mint an NFT on some of the most popular NFT marketplaces and to explain the mechanics of NFTs and blockchain.
While the above list includes some important NFT marketplace, these are only recommendations, and everyone who wants to mint NFTs should make their own decisions regarding which NFT marketplaces is the best choice for them. There is no right or wrong choice.
Also, we focused on Ethereum-based marketplaces since these are the most popular at the moment, and most NFTs are minted on it. However, there are many networks that support NFTs.
The transition to Ethereum 2.0, which will radically change the gas fee model and replace it with a more efficient and sustainable one, is becoming increasingly urgent as it is much awaited. The Web3.0 future will be interoperable, and that is the most important thing.
Hopefully, NFT crypto investors will soon be able to cross bridges between all the available blockchains, with low fees, while benefiting from all the wonders of the decentralized world of blockchain.
NFTs can be hard to keep up with, so why not join BeInCrypto’s Discord server to ensure you’re on top of everything?
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Frequently asked questions
Can you mint an NFT for free?
How much does it cost to mint an NFT?
How to mint an NFT OpenSea?
Is minting an NFT the same as buying?
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