In recent years, NFTs (non-fungible tokens) have become a popular topic in the world of digital assets. They are unique digital objects, such as works of art, music or video clips, fixed on the blockchain. NFTs allow artists and content creators to monetize their work, while collectors can acquire and own unique digital assets.
However, the process of creating an NFT, known as "minting", may seem difficult for beginners.
What is NFT coinage?
NFT minting process is the process of converting a digital file (such as an image, audio recording, or video) into a unique token on the blockchain. This token confirms ownership of the digital object and ensures its uniqueness and authenticity.
The coinage process includes the following steps:
- Creating a digital object.
- Choosing a blockchain for NFT placement.
- Setting up a cryptocurrency wallet.
- Choosing an NFT marketplace.
- Uploading a digital object and creating an NFT.
- Payment of transaction NFT gas fees.
After completing these steps, your NFT will be available for sale or exchange on the selected platform.
Step-by-step Guide to NFT Coinage
Preparing a digital object
First of all, create or select the digital object that you want to turn into an NFT. It can be an image, music, video, GIF or any other digital file. Make sure that you own the rights to this object and it is unique.
Choosing a blockchain
Choosing a blockchain is one of the most important steps in the NFT creation process, as fees, transaction speed, ecosystem sustainability, and even the level of collector interest depend on it. Below are the most popular and promising blockchains on which you can mine NFTs, each with its own advantages and features.
- Ethereum
It is deservedly considered the most widespread and reliable blockchain for issuing NFTs. It was on this platform that the first and most famous NFT projects were created (for example, CryptoPunks and Bored Ape Yacht Club). A large number of NFT marketplaces operate here, including OpenSea and Rarible, and NFT smart contract standards ERC-721 and ERC-1155 have already become industry standards.
However, Ethereum has disadvantages. The main one is high NFT gas fees, especially in times of network congestion. The cost of a single transaction can reach tens of dollars, making the platform less accessible for beginners and artists on a tight budget.
- Polygon
Polygon (formerly Matic) is a second—level blockchain that runs on top of Ethereum and solves its key problems such as high fees and low speed. It provides cheaper and faster transactions, while maintaining compatibility with Ethereum, which makes it easy to transfer digital art and other NFTs between the two networks.
Many sites, including OpenSea, already support the NFT minting process on the Polygon network. Thanks to the reduced fees, it is especially suitable for novice authors and those who want to test how to mint an NFT without serious costs.
- Solana
It is one of the most technologically advanced NFT blockchains on the market, providing almost instant transactions with extremely low fees. These characteristics have made it popular among NFT developers and creators striving for high performance and scalability.
In addition, the Solana network has its own large NFT marketplaces, such as Magic Eden, where you can not only buy, but also place your own NFTs. The platform is actively developing, and the ecosystem already includes thousands of projects, including games, collections, and music NFTs.
- Tezos
Tezos stands out from other blockchains with its commitment to sustainability. Its Proof-of-Stake algorithm consumes several times less energy than Ethereum, which makes Tezos an attractive choice for those who worry about the environment.
The network offers low NFT gas fees and fast transaction processing, and is actively supported by a community of digital artists and collectors. Sites like Hic et Nunc (now under a new name) or Objkt.com We have made Tezos one of the centers of alternative digital art.
Setting up a cryptocurrency wallet
To interact with the blockchain, you will need a cryptocurrency wallet. Popular options:
- MetaMask: Browser extension that supports Ethereum and compatible blockchains.
- Coinbase Wallet: A mobile application with support for various blockchains.
- Trust Wallet: A mobile wallet with support for multiple cryptocurrencies.
After installing the wallet, replenish it with the cryptocurrency needed to pay for NFT coinage fees.
Choosing an NFT marketplace
After you have created or are about to create your first token, it is important to choose the right platform — the NFT marketplace, where it will be offered for sale. Such platforms not only provide technical opportunities for minting NFTs, but also help to find potential buyers, form collections and participate in the life of the community.
- OpenSea
OpenSea is considered to be the largest NFT marketplace in the world. Founded in 2017, the platform runs on the Ethereum and Polygon blockchains, which offers a flexible approach to NFT creation — from a more premium placement on Ethereum to an affordable and low-cost option on Polygon.
OpenSea is particularly appreciated for its huge audience, support for multiple digital asset formats (images, music, videos, game items), user-friendly interface, and active community. It houses both well-known collections with millions of turnover, as well as works by emerging artists. This makes the platform an excellent starting point for anyone who wants to understand how to mint an NFT and immediately offer it to a wide audience.
- Rarible
Rarible supports multiple blockchains, including Ethereum, Polygon, and Tezos, and allows NFT for beginners to go all the way from uploading content to creating an NFT smart contract without having to write code. There is even a lazy minting feature that allows you to create an NFT without paying a commission until the moment of purchase — this is especially convenient for beginners who are afraid of high NFT gas fees.
- Mintable
If you are looking for the most intuitive and friendly interface for your first experience, pay attention to Mintable. This platform was created with an eye to making the NFT minting process accessible even to those who have not dealt with cryptocurrencies before.
The platform runs on Ethereum and Zilliqa and provides users with a choice between classic mining and free mining (without paying fees at the start). Crypto wallet is connected in just a few clicks, after which you can upload a file, write a description, and the NFT will be ready for placement. Simplicity is a key advantage of Mintable, making it an ideal place for artists and musicians just starting their journey into digital art.
- Magic Eden
Magic Eden supports both art collections and gaming NFTs, which makes it especially popular among young and dynamic projects. Due to the low cost of the NFT minting process, the platform is great for both mass collections and individual author's work. Its interface is also intuitive, and the launch of new collections is accompanied by educational materials and support.
Choose a platform that matches your chosen blockchain and preferences.
Creating an NFT
After connecting the wallet to the selected marketplace, follow these steps:
- Click the "Create" or "Create" button.
- Upload your digital object.
- Add a name, description, and other metadata.
- Set the price and select the type of sale (fixed price or auction).
- Confirm the creation of the NFT and pay the transaction fee.Token Metrics
After that, your NFT will be placed on the platform and available for purchase.
Understanding Transaction Fees
Transaction fees are fees for using blockchain computing resources. The amount of the commission depends on the network usage and the chosen blockchain.
To reduce the fees:
- Choose blockchains with low fees (for example, Polygon or Tezos).
- Conduct transactions during periods of low network activity (at night or on weekends).
- Use platforms with "lazy minting" support, where the commission is paid by the buyer when selling NFT.
What are smart contracts and how do they work?
NFT smart contracts are programs that automatically fulfill the terms of a transaction on the blockchain. They ensure:
- Uniqueness and authenticity of NFT.
- Transfer of ownership rights upon sale.
- Payment of royalties to the creator upon resale of the NFT
Smart contracts make the process of buying and selling NFTs transparent and secure.
Creating an NFT is an exciting and accessible process that opens up new opportunities for artists, musicians, and other creative personalities. With this guide, you can take your first steps in the world of NFT and start monetizing your digital work.