Non-fungible Tokens (NFTs) have emerged as a breakthrough over time. They are becoming a part of the digital landscape, popular among digital art collectors and investors. In order to create an NFT it has to be minted on a blockchain. In this article we will discuss how to mint an NFT on OpenSea.
OpenSea continues to be the leading Ethereum NFT marketplace, at the forefront of NFT industry trading volume. NFTs are interchangeable and represent items such as artworks, images, videos, or anything that can be tokenized. Therefore, NFTs represent a promising development for artists and creators.
Here is a simple guide on how to turn your work into an NFT through minting on OpenSea.
What is NFT Minting?
Minting represents a process of tokenizing an asset using cryptography. In layman’s terms, it involves a process of creating a token representing a digital asset, allowing its movement, storage, and recording on a Blockchain.
NFT minting is the process of storing NFT art on the blockchain.
NFT minting usually happens on an NFT marketplace or platform. Some popular marketplaces next to OpenSea are: Rarible, Binance, and many more. OpenSea comes in as a marketplace with the highest trading volume, which is why in this article, we will be looking at how to mint an NFT on OpenSea.
How to Mint an NFT on OpenSea
In order to mint your own NFT on OpenSea, you can use following guide. Make sure to follow these steps closely, as your NFT will be sitting forever on the blockchain. In order to get started you will need a crypto wallet.
1. Connect Your Crypto Wallet to OpenSea
NFTs comprise a unique digital asset that is stored on the blockchain. To start minting, you need a wallet that can be connected to OpenSea. There are different options for this, but we recommend MetaMask, a popular one.
You’ll have to link the MetaMask wallet to the OpenSea marketplace. MetaMask is available for cold storage and as a browser extension for Google, Chrome and Brave.
To connect, head to the OpenSea website and navigate the top right bar and click on “Profile.” A new page appears that prompts you to connect your wallet. Choose MetaMask.
You’ll be required to carry out different prompts to grant OpenSea the required permissions to use your wallet and funds. Consequently, a signing request appears, then a connecting screen pops, linking OpenSea to your wallet.
2. Create Your Collection
Now that your account is ready for any transactions on the Ethereum Blockchain, you can now build your first NFT collection.
Head to your profile and select “My Collection,” then press “create” to start a new collection. The new collection will be composed of the logo image, the featured image and the banner.
You will be able to find different properties to fill in, which comprise the URL of the collection on OpenSea, the description, category, and links to your website and social networks.
The process will ask you to insert your payout wallet address. Head to the wallet icon and click on the address, which will automatically copy it, then paste it into the field.
The storage of new items you create will be your chosen blockchain, but in this case, Ethereum is the ideal Blockchain. However, you can also use other blockchains like Polygon, a Layer-2 blockchain that works, leading to higher throughput and lower gas fees.
The next stage will allow you to choose the payment tokens to buy and sell the items. After choosing the payment tokens, click “Create.”
Your collection is now set but will need some items, which is the actual minting process.
3. Mint your NFTs on OpenSea
Not that you are all set up on OpenSea, you can start minting your NFT in following steps:
- Head to the collection and click “Add Item” to the right of the site.
- Upload your art piece or collection that you want to mint.
- Add details and a description to each NFT (this may include the name of your art and collectionetc.).
- Choose your collection items and add properties of the NFT ( like eyes, colors, artists name, etc.).
- Add levels to your NFT, include statistics to rarity and traits.
- Identify the item to be either unlockable and explicit content or sensitive content.
7. Choose the supply, which represents the number of copies that can be minted and the issuing blockchain.
8. Click “Create”! The item will now appear as a new NFT in your collection.
After you now created and minted your NFT, you can now go ahead and list it for sale, as it is ready to sell on the open market. Click on the “Sell” button in the upper right corner of the NFTs description page.
The selling process allows you to specify the sale details, which can be either a fixed price or a timed auction. On OpenSea, one can set the royalty payouts for ongoing passive monetization of the work over time. Different marketplaces show their related fees for selling. On OpenSea, the service fee provided for selling is 2.5%.
You will then click “Complete Listing,” allowing the marketplace to calculate the gas fee based on the cryptocurrency network’s activity level at the time of the listing.
After the NFT is minted and listed for sale, you may go ahead to start engaging with your potential patrons.
Minting an NFT on OpenSea is not as hard as most people think. The process is similar to other marketplaces; you must check which marketplace suits you best. There are reports of different digital creators making big, easy money by creating NFTs. However, remember that it is still the early days of the NFT movement. Minting and selling NFTs should not be viewed as a get-rich-quick scheme. It requires some costs that allow you to sell your digital assets.
Therefore, there is no guarantee that anyone will be willing to purchase your work. However, turning your digital work into a blockchain-based asset is nonetheless a promising field that could eventually reshape the way creators get paid.
If you liked this article, you might also enjoy: How to Create NFT Art? – A Simple Guide