Minting is the computer process of creating a new NFT in the blockchain. Users especially mint NFTs of new and upcoming projects. When they mint NFTs, they become the first owner of the digital asset.
The new project releases its NFTs for the first time for the public. In most scenarios, participants in the minting process do not choose the digital art they are buying.
Every digital asset has the same price. Normally, the cost of NFTs is lower during the minting process, than during the normal sales period.
Mostly, NFT companies use minting as an opportunity to raise initial funds for project development. It operates like an Initial Public Offering (IPO) in the stock market.
1. Go to the official website Ensure you go to the official website to mint an NFT to avoid fraud. You can get the links on the Twitter handle of the Discord channel.
2. Select the NFTs you want to mint You can select the type and the maximum number of NFTs you want to mint. Usually, the prices are indicated along the NFT. You can also take note of the gas fee.
3. Review the gas fee Sometimes the gas fee for minting NFT is high. Ensure you take note of the cost before you proceed to confirm the transaction.
4. View your collection After minting, you can now view your minted assets in your wallet.