You now know what an NFT is and how to buy one on the secondary market (if you don’t, visit our article defining an NFT HERE and our guide to buying an NFT HERE). An essential step, but also quite particular, to the creation of an NFT, is called the mint. We summarize it just here!
Definition of an NFT mint in cryptocurrency
The term mint can be defined here as mint stamps and coins, etc. that haven’t been used. It refers then to the official creation of a coin whose value is confirmed by this action. In cryptocurrency and more particularly in the world of NFTs, the mint corresponds to the creation of the NFT, at the precise moment when the latter is registered in the blockchain. This step is thus the most important, since from this moment onwards, the NFT will be noted in this unforgeable and public register that is the blockchain, and this, forever (or at least, as long as this blockchain will live).
There are several ways to mint an NFT and this term is used in many senses.
Mint an NFT in exchange of cryptocurrencies
The most common way to “mint an NFT” is simply to buy it from its creator during a NFTs drop. Most of the current art NFT collections are based on a classic operation with about 10 000 NFTs whose image is randomly generated by mixing various attributes. From the official website of the collection, buyers will then be able to mint their NFT by sending cryptocurrencies in a smart contract.
Just connect your wallet to the website and follow the instructions. Make sure you are on the official site of the collection, but also that you trust the team behind the project. Once you have sent your cryptos, you may not receive anything in return.
In case the number of buyers is higher than the number of NFTs offered for sale, only the first transactions will be validated, which can lead to “gas wars”, where some buyers decide to pay very high fees to be among the first. These battles mostly take place on the Ethereum network: on other blockchains where fees are of little importance, quickness will be your only asset.
The title of your ownership is sent to you afterward by connecting your wallet to the different NFT platforms. You will be able to observe the artwork attached to your token.
Mint its own NFT on the blockchain
If you are an artist or simply want to register something of yours on the blockchain, you have the option of proceeding with the mint yourself.
A simplified method consists in using a platform of exchange of NFTs, like OpenSea. By going to the “Create” part, you will only have to follow the indications, choose the digital format as well as the properties of the artwork attached to the token before validating the mint of the latter. This is completely free.