Creating an NFT is free but selling it is not free. You would have to pay a listing fee to get your artwork on a website. Also, NFT marketplaces would require you to pay a fee that is determined by the final sale price of your NFT. OpenSea is a great marketplace platform to use for free minting.
Before you go ahead to mint your NFT, there are certain details that you must first consider before taking the big leap. You have to be careful because as profitable as NFTs are, you can easily run at a loss. Ask Martin. This is why you must know what NFTs are.
A non-fungible token is a unique item that is both created and stored on the blockchain platform. You can use it to replace art, music, videos and other collectable items. Anybody can create an NFT, you don’t need special skills to handle it. Even your grandmother can get a hang of it.
What Is The Best Blockchain Platform For Minting NFTs?
There are many cryptocurrencies and coins that you can use to create NFTs. However, the best platform to use is Ethereum. Ethereum is not only popular but also trusted by marketplaces where you can either buy or sell your NFTs.
What you need to mint an NFT is a crypto wallet. This would require you to use a peer-to-peer network to ensure that the process is seamless. For you to successfully mint an NFT, you would require a minimum of $100 per NFT that you mint.
What Is The Best NFT Wallet For Minting?
If you want an application that would cost you nothing in your minting process, then, using MetaMask would benefit you massively. You can get this application both on Google Play store and on iTunes.
Minting On OpenSea
Although you can create NFTs for free on OpenSea, it would require you to pay 2.5% of your final sale price as a fee. OpenSea works with crypto coins such as Ethereum, WETH, DAI and USDC. It requires you to connect your crypto wallet to the OpenSea for selling, buying and even minting.
OpenSea is a perfect choice because it works with multiple wallets that you can use for minting your NFTs. They include MetaMask, Coinbase, TrustWallet, Dapper etc. You can easily follow the information available on the platform to upload your file.
Minting On Rarible
If you would mint successfully on Rarible, you would require a MetaMask wallet that you have set up on your own. This wallet must already have Ethereum that it is holding before you can even begin the minting process.
How To Mint On Rarible
- Use the rarible homepage, https://rarible.com
- Link your Metamask wallet to the platform
- After the connection has succeeded, click on “Create Collectible”
- To create an ERC-721, click on “Single”
- Upload your file or image
- Include the necessary details about your NFT
- Set up the price for your NFT. You can allow your buyers to bid for your NFT artwork and then you sell it to the highest bidder.
NFTs are the future of art and it is best for you to get into the future. Although this process would cost you some money, if you can set your prices well in a way that you would gain profit, you would find it beneficial.