The allure of nonfungible tokens (NFTs) has been growing in popularity recently, and for a good reason. Nonfungible tokens are a new form of asset that can represent anything from digital art to game items and are stored on the blockchain ledger. This implies that NFTs are unique, immutable and transparent.
People collect NFTs for a variety of reasons, including art appreciation, value speculation and as part of playing games like Decentraland or Cryptokitties that are based on blockchain technology .
There are many possible reasons that NFTs have become popular, and different people will have different reasons for investing in them. Ethereum has become the go-to network for creating these tokens, with the ERC-721 token standard being the most common in the space. However, this led to severe network congestion, heavy fees, and slow transaction processing times. Consequently, other blockchains have begun to offer their own solutions for NFTs.
One such solution is the Solana blockchain , which provides a high throughput that can process thousands of transactions per second. Solana launched its own NFT standard, called SolSea, which allows for the quick and easy creation of NFTs. This guide will show you how to mint NFTs on Solana — specifically, on SolSea, the network’s largest NFT marketplace. What is NFT minting and how does it work?
NFT minting refers to the process of converting any sort of digital data into a blockchain-based virtual collectible. Almost any digital file can be converted into a token — MP3, WAV, GIF, JPEG, etc. The digital products or files will be kept in a distributed ledger or decentralized database and cannot be modified, updated or deleted.
The process of adding an item to the blockchain is known as minting. It is similar to how a coin is created in real life. So, how long does it take to mint an NFT? It’s difficult to give an exact number because it depends on the file’s intricacy and the blockchain network’s speed. Nonetheless, most NFT platforms, tools and NFT marketplaces simplify the process of NFT generation.
How does NFT minting work? Minting an NFT usually begins with the creator selecting a marketplace or platform on which to mint their NFTs. In this post, let’s look at how to mint an NFT on Solana SolSea. How to mint NFTs on Solana SolSea?
Before we dive into how to mint NFTs on Solana, let’s quickly go over what Solana SolSea is. Solana SolSea is a decentralized open market for nonfungible tokens that is less costly, faster and more user-friendly than established markets like OpenSea. It is more appealing to nonfungible token creators due to its low costs, quick transaction times and user-friendly interface.
SolSea NFTs are significantly less costly to mint compared to Ethereum-based NFTs since they do not incur the high transaction fees on the Ethereum blockchain . Guide to minting a SolSea NFT: Step by step
Install Phantom
Phantom is a non-custodial cryptocurrency wallet and browser extension. It is often referred to as the MetaMask of Solana due to its similar features and functionality. Go to the Phantom.app and download and install it as an extension for your preferred browser. Install Phantom as a browser extension Create a new wallet
After installation, the Phantom icon will appear on the top right Extension button. Click the icon and follow the prompts to create a new wallet. The icon redirects the user to a new page to continue the wallet creation process. Create a new wallet The user is given a secret recovery phrase that can be used to restore their Phantom account if they need to reinstall it on another device. If this phrase is lost or written down incorrectly, the wallet cannot be restored and the user may lose their funds, making this step the most important part of creating the wallet. As a result, it’s critical to keep a recovery phrase in a safe and secure location. Phantom will be added to the Browser after completion. It may be accessed by clicking on the Phantom logo in the menu bar. Funding the wallet
To be able to create NFTs, you must first acquire Solana (
), the native cryptocurrency of the Solana blockchain. There are two primary methods for obtaining SOL: Once the wallet is funded, the minting process on Solana can begin. Creating a new account on SolSea
The next step is to create an account on SolSea by connecting the wallet to the SolSea platform. Click on the “Connect Wallet” option at the top right and choose […]
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