NFTs are unique digital assets enclosed in a blockchain. It can be a piece of art, music, or any other collectible. Now you may wonder, how these digital items are added to the blockchain, the answer is, through minting.
Minting is the process by which digital assets are added to the blockchain, providing ownership and authenticity to the assets. Minting an NFT requires certain coding and blockchain skills, however, with OpenSea, one of the largest peer-to-peer NFT Marketplace, you can easily mint your NFTs. In this article, we’ll guide you on how to mint NFTs on OpenSea, but before that let’s make a brief understanding about NFT minting.
What Is NFT Minting?
NFT minting is the method of writing a digital asset to a blockchain, including a description of the NFT, information about the creator, unique features, etc. Through minting, the digital asset gets verified, and establishes ownership on the blockchain, giving the asset uniqueness and tangible value.
NFTs can be minted by creators as well as collectors, for collectors, NFT minting gives ownership while minting NFTs will provide creators ownership and control over their assets and also enables them to make communities and perks for those holding the assets.
When you mint an NFT, it enters the immutable blockchain, which can neither be changed nor be deleted, giving creators complete ownership over their assets, however, on selling NFTs, the ownership gets changed, but the ownership history remains in the blockchain ledger.
OpenSea: An Ideal Platform To Mint Your NFTs
OpenSea is an NFT Marketplace, where you can buy, sell, trade, and mint NFTs. It uses noncustodial wallets for these purposes, allowing you to access complete control over your digital assets.
From ancient lazy minting models, where NFTs are not on-chain until they are bought or sold, to a minting structure where creators deploy and mint using their own smart contracts, OpenSea has brought a new definition to minting through its OpenSea Studio. Now users can access OpenSea Studion instead of the lazy minting tool, however, existing NFTs created through the lazy minting tool will be still available for buy, sell, and trade.
How To Mint NFTs On OpenSea: A Step-By-Step Guide?
Below are the steps involved in mining NFTs on OpenSea. Let’s take a look.
Step 1: Create A Crypto Wallet
A crypto wallet is mandatory while interacting with the blockchain, which allows you to buy, sell, and store your cryptocurrencies and NFTs. You can’t access, control, or manage your NFTs without crypto wallets.
You can create a noncustodial crypto wallet on OpenSea by filling in the necessary information like name and email address.
Step 2: Create Collections
To mint your NFT, first, you need to create a collection in which they belong. By deploying a smart contract, giving a name, and uploading a logo, your NFT collection will be created.
Step 3: Upload NFT
After creating your NFT collection, you can upload your NFT to it. You can add a name, description, and an external link to make your NFT stand out from others. Also, you can detail the unique features it holds, the higher the uniqueness the higher the price.
In the collection, you will have the option to add NFT to an existing collection. Now save the NFT to your collection.
Step 4: Enter The Number Of NFTs To Be Minted
Under Supply, you can enter the number of NFTs that can be minted.
Step 5: Mint NFT
OpenSea runs on the Ethereum blockchain. It takes a small amount as a fee to mint NFT on the platform. You can add your NFT to the blockchain and the minting process will be completed.
Advantages Of Minting NFT On OpenSea
- OpenSea has more than 1 million users worldwide, giving your NFT a high visibility.
- User-friendly interface to mint NFTs
- Runs on Ethereum, one of the popular blockchains.
Limitations Of Minting NFTs On OpenSea
- High saturation makes it difficult to navigate good-quality NFT projects.
- It takes 2.5% of every transaction happening on the platform as gas fees.
Is OpenSea Safe?
OpenSea is a trusted marketplace where users can buy, sell, mint, and trade NFTs safely. The platform offers guidelines on how to use the platform securely. However, like any other crypto platform, OpenSea is vulnerable to scams and hacks, necessitating users to be cautious while making a trade.
Bottom Line
Though NFT’s popularity has diminished since 2024, they are promising assets. Minting NFTs gives creators ownership and provenance over their digital assets on the blockchain. OpenSea is one of the best platforms to mint NFTs, however accompanying gas fees makes many from utilizing the platform, but in the long term, the profit generated from NFTs is much less compared to the gas fees involved. Users have to gain proper knowledge about NFT marketplaces and the technologies involved before minting NFTs.
