How Do You Mint an NFT – Everything Needed for a First Mint!

Minting an NFT is a straight-forward process and follows a simple step by step guide.

BUT there is a learning curve to anything done for the first time. NFT minting is no exception.

In fact, technically speaking NFT minting is quite complex and not for the faint of heart.

The complexities of buying and minting an NFT is one of the reasons the number of NFT holders in the market are around 2.5million rather than 250million or more.

NFTs are generally minted direct from the NFT project’s website. Connecting a digital wallet, such as MetaMask, allows the NFT minting to be assigned to the wallet address in the blockchain and for the NFT to be created. Once minted the NFT can be resold on marketplaces such as OpenSea and Solanart.

Although there are a number of technical steps needed to mint your first NFT, in this article we walk through each step to provide a detailed step by step guide.

How to Mint an NFT

Unfortunately, you can’t just go to a website, add an NFT to a shopping cart and use a credit card to make your purchase.

There is a plan in the NFT space to make this a possibility, which will reduce the barriers to entry in the NFT space and allow easy purchases without cryptocurrency – but for now we will have to take the more technical route.

Here in summary are the steps involved, but we’ll then go on to look at each in detail:

  • Setup a Digital Wallet – MetaMask is a recommended option for Ethereum purchases, and Phantom is popular for Solana
  • Purchase enough cryptocurrency to cover the cost of the NFT and minting gas fee
  • Visit the NFT projects website – (be careful to only use official links!)
  • Connect your Digital Wallet to the NFT projects website
  • Choose the option to Mint an NFT
  • Confirm the minting fee and gas fee in your Digital Wallet
  • The NFT is minted
  • The NFT is safely stored in your digital wallet and visible in the marketplace the NFT collection will be shown (for example OpenSea or Solanart)

Setup a Digital Wallet

A digital wallet is a necessity if you want to purchase an NFT.

It’s not possible, as of today, to purchase an NFT just using a website and a credit card. This though looks to be changing over the next 12 to 24 months.

A digital wallet provides you an address. An address that can be attributed and assigned to NFTs in the blockchain, and other digital assets such as cryptocurrency to prove conclusive ownership.

A digital wallet is relatively easy to set up.

Which digital wallet you choose can depend on which NFT you wish you mint, and the cryptocurrency the NFT is priced in.

The majority of NFTs are sold in Ethereum (ETH) but a growing number of NFTs are being sold in Solana (SOL).

The benefits of Solana are much lower gas fees to mint, buy and sell but the OpenSea marketplace which is by far the biggest and most popular works with Ethereum.

You can of course have two wallets, one holding Solana and one holding Ethereum, and then connect the relevant wallet whenever you want to mint.

This may sound complicated, but it has been made a lot simpler over the past two years and will become even more simple over the coming months.

MetaMask

The MetaMask wallet (official MetaMask link here) is one of the most popular digital wallets for minting NFTs using the Ethereum (ETH) cryptocurrency.

MetaMask was actually released in 2016, so has been around for a few years now, and used by millions of people.

It is easiest used as a browser extension.

Once set up, simply click on the minting buttons on different NFT project websites, and the MetaMask extension will automatically open and connect.

You can open the browser extension any time to view your cryptocurrency and other digital assets.

Here is a complete step by step guide on installing and setting up the MetaMask wallet:

In Summary:

  • Download MetaMask Browser Extension
  • Complete Setup
  • Collect Wallet Address
  • Buy Cryptocurrency on MetaMask
  • Connect MetaMask Wallet to OpenSea or other marketplace

Phantom

Although there are a couple of digital wallets to hold Solana, the Phantom Wallet is the most popular with the most users (official Phantom link here).

Phantom has just received investment from Paradigm which has given it a valuation of $1.2billion.

Again, an easy to use browser extension, it allows you to connect with any website minting NFTs in Solana for purchase and storing.

At any time, day or night, you can open your Phantom wallet from within your browser to view your Solana cryptocurrency amount and also your other assets.

Here is a complete step by step guide on installing and setting up the Phantom wallet:

https://youtu.be/4vzgPiLrpAE

In Summary:

  • Download Phantom Chrome Extension
  • Complete Setup
  • Collect Wallet Address
  • Buy Solana Cryptocurrency through Phantom
  • Connect Phantom Wallet to Solanart or other Solana marketplace

Buy Cryptocurrency to Mint an NFT

Once you have your digital wallet set up, and have a wallet address, you’ll need some cryptocurrency.

At the moment NFTs can only be minted with crypto, and almost always either Ethereum or Solana.

You can buy cryptocurrency using your debit or credit card.

For Ethereum you can use a cryptocurrency site such as Coinbase, and once purchased you can transfer your Ethereum from your Coinbase wallet to your MetaMask wallet for the NFT mint.

With Solana you can purchase directly from the Phantom wallet browser extension using Moonpay (just follow the Deposit link and instructions from within your Phantom wallet).

Although it is tempted to purchase just enough cryptocurrency to cover the cost of the NFT mint, you will need some more to cover the gas fees, which are payable on top of the cost of the NFT mint.

This gas fee is a lot more expensive when minting NFTs using Ethereum and can cost up to 50% of the price of the NFT mint.

Gas fees are also payable in Ethereum or Solana too.

Unfortunately, it’s not possible to know in advance how much gas fee you will need. The gas fee is dependent on the gas fee price at the time, and the demand.

It can fluctuate wildly. It could cost as little as $60 in Ethereum but as much as $300 in Ethereum.

If you end up buying too much Ethereum to cover the gas fees, but do not use it all, you can always keep the rest in Ethereum towards future NFT minting, or for investing or you could sell your remaining Ethereum and get the remaining back as cash, minus the selling fees of course.

Solana is very low in gas fees. It can cost just a couple of dollars to mint in this cryptocurrency.

Once you have made your cryptocurrency purchase and have the Ethereum or Solana in your digital wallet, it’s time to start minting!

Mint an NFT

With your digital wallet and cryptocurrency ready, it’s time to start minting!

Usually, NFTs projects have a pre-sale and public sale.

Pre-sale minting is usually reserved for those individuals who make the whitelist, which is a short list of interested investors who may win a competition to gain entry to the pre-sale.

The benefits of pre-sale could include a lower minting price, or an almost guaranteed chance of minting an NFT before the public sale starts and they could sell out before having the chance to mint one.

Public sale is when the remaining NFTs are available to anyone who wants to mint one on a first serve first sold basis.

Although the options to mint an NFT come in different forms, the most popular is through the official website of the NFT project.

They will almost always have a button to mint their NFT, which is accessible once the public sale begins.

Once you choose the minting option you should see your digital wallet extension open, and ask your permission to connect to the NFT project.

Once you accept, and your wallet connected, you will be given the price – including gas fee – to mint the NFT.

If you are happy with the price and accept, the wallet will take care of the rest. You’ll receive confirmation almost immediately that you are the proud owner of a new minted NFT!

How to View an NFT After Mint

You’ve received confirmation that you’ve just minted yourself a brand new NFT, but how do you see it?

The easiest way is visit the website of the marketplace in which the collection will be shown.

For example, if the NFT collection you have minted an NFT from is on OpenSea then from the OpenSea website hover over the Account icon and choose Profile.

This screen will show all the NFTs in your collection including your latest NFT mint.

Remember that although you have minted your NFT, the collection may not have revealed the NFTs.

NFT Reveal

Once the NFT project has sold all the NFTs in the collection, or the public sale is over, they will announce a reveal date.

This is where your actual NFT is revealed in all its glory, and you can see what you have got.

NFT minting is often a lucky dip.

Each NFT in the collection (i.e. 10,000 items) is minted for the same price but each will be given a rarity score. The rarer the NFT the more valuable it is.

If you are fortunate enough to get an NFT in the top 10 you could potentially flip for a quick profit of 10x or even 100x your initial investment.

This though is a 10 in 10,000 chance, so the odds are not in favor.

Until the reveal has happened you will not know what you have been rewarded, which should be a random allocation.

Once the reveal happens the NFT project will provide a link to find out your rarity score. This is one of the most exciting times of the whole NFT minting process!

In Conclusion – Minting an NFT

If you have followed all the instructions in this article, you will now be able to mint an NFT.

Your newly minted NFT will be stored in the blockchain against your wallet address as the verified owner.

There are many minting scams on the internet with scammers providing fake minting links to spoof websites looking like the real thing for unsuspecting investors to connect their wallet and move their cryptocurrency into the scammers.

Unfortunately, the cryptocurrency and NFT industry is pretty much unregulated, so if you lose your crypto or NFT there is often very little chance of recovery.

Make sure you only use official website links from official sources, and you will have a very positive NFT minting experience!

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