Let’s say you’re an artist looking to profit from the NFT craze by releasing your first NFT collection. You have all the files created but have no idea where to start to get your digital media on the Blockchain.
Follow these steps and we’ll explain to you what you need to do to mint your NFT collection:
Before you mint your NFT collection, you should choose a marketplace suited to your needs. It’s important to remember that all digital files that you upload to each marketplace have to fit within a specific file size limit, and not all files are supported by every marketplace.
For example, OpenSea only allows files with a maximum size of 100MB and only if they are gif, jpg, sag, png, mp3, mp4, wav, ogg, glb, WebM and gltf. Rarible only allows images to be under 10MB in size, allowing options such as mp4, mp3, png, gif and WebP.
Once you’ve checked your marketplace’s size and file restrictions, you need to set up an account and connect it with your NFT wallet. Whether you’re paying for gas upfront or lazy minting, your crypto wallet has to be connected to the marketplace in question to mint the collection. This can be done easily once you set up your account.
How Much Does it Cost to Mint an NFT Collection?
Minting an NFT costs ETH, as the NFTs have to be gassed in order for them to be inscribed in the Blockchain. Just one NFT might not cost more than a hundred dollars, but minting a whole collection can be incredibly expensive, considering how some collections can include up to 30 pieces and many more.
The site fees can also make minting the whole collection a discouraging affair more than something affordable and fun. On top of that, while the prospect of Minting your NFT, having it on the Blockchain, and eventually profiting from it sounds great on paper, we have to remember that there’s no guarantee that any NFT will sell in the first 24 hours, especially if it had no marketing beforehand. Spending so much without any guarantee of a return on investment doesn’t sound appealing after a while.
Can You Mint an NFT Without Paying For Gas?
Not all artists have a hundred ETH lying around just to mint their first NFT collections, that is why we’ve compiled a brief list of the best platforms for minting your NFT collection without selling an arm and a leg in the process.
Which is the Best Platform for NFT?
OpenSea is known as one of the best platforms for minting NFTs without paying gas fees. They have an in-built sales process that allows people to build and list their NFTs, saving money on fees by overriding them with the profit made from sales in the first place.
OpenSea has a secure login system, so your information is protected from the get-go when you log into their site. The interface is beginner-friendly enough for anyone to jump in and mint their NFT.
And if that weren’t enough, OpenSea is a dependable company with investments from many big brands and corporations that are making the shift to the world of NFTs. That means their gas fees are lower because of their financial backing.
Rarible comes up next, with one of the best interfaces for creators and investors alike. Rarible has been praised for introducing a lazy minting system, allowing NFT creators to save up on fees until they actually start making sales. Similar to OpenSea, Rarible has a very vocal and involved community of creators. It could be argued that its easier to get customer support on Rarible given how smaller it is compared to OpenSea. They also have an informatively rich message board section that allows Rarible creators to interact directly with the site managers. At its core, Rarible is about minting NFTs at a good price while also improving customer satisfaction.
Minting an NFT collection can be cheaper than most people think. Given how responsive and intuitive the beginner-friendly platforms are for minting NFTs, minting a whole collection can take less than a day. You might take a long time actually designing and creating the collection than minting it.
