If you’ve made it to this point, congratulations, you’re almost to the finish line. Now, it’s time to get prepared to mint your first non-fungible token (NFT). Don’t worry, getting set up isn’t rocket science. In fact, there are only four steps to it. Here’s what you need to do:
#1: Have Your Files Ready
If you’re going to mint an NFT, you have to have files. After all, an NFT is essentially a digital file with ownership that can be validated through the blockchain. Whether you’re minting a piece of static art, a GIF, or even a soundtrack, it’s important that you have your art ready.
#2: Pick a Marketplace
There are several NFT Marketplaces online today. Some, like Opensea, offer a wide variety of NFTs and bring in a massive audience. Others offer more dedicated audiences that are looking for specific types of collectibles.
Consider the type of NFT you’re planning on minting and the audience that would likely get behind hit. Then, compare marketplaces that cater to that audience.
There are a few other things to compare too, like who pays the fees in a transaction, the cost of minting, when minting fees are paid, and more. If you’re not caught up on these details, click here to read our guide on choosing a marketplace.
Nonetheless, you’ll need to have an NFT marketplace at your fingertips before you’re able to mint.
#3: Set Up a Crypto Wallet
NFT transactions aren’t typically paid for in cash. You’re on the blockchain, which is essentially its own digital ecosystem and economy. As a result, you need to use the digital money at the center of that economy – cryptocurrency.
Cryptocurrency must be kept in a crypto wallet – it’s also where you store NFTs you own.
Consider the NFT marketplace you’re minting on and the types of crypto they accept. Also, consider the wallets the marketplace connects to. Not all wallets are compatible with all marketplaces.
Once you’ve found a suitable wallet, sign up, set up your account, and move on to the next step.
#4: Fund Your Crypto Wallet
Finally, you will eventually have to pay gas fees, which are paid in crypto. So, it’s best to have that crypto available before you’re ready to mint. Fund your wallet with around $250 worth of the crypto you need to mint. That should be plenty to get you going.
Come Back Next Week
That’s all for today, my friends. Come back next week to learn how to mint your first NFT!