“Minting an NFT” is the act of publishing a unique instance of your ERC-721 token on the blockchain . Using our smart contract from Part 1 of this NFT tutorial series, let’s flex our web3 skills and mint an NFT. At the end of this tutorial, you’ll be able to mint as many NFTs as your heart (and wallet) desires! Let’s get started!
Using the mint-nft. Js you can mint as many NFT’s as your heart (and wallet) desires! Just be sure to pass in a new token. URI describing the NFT’s metadata (otherwise, you’ll just end up making a bunch of identical ones with different IDs).
Many popular NFT wallets are going to let you mint completely free of charge, though some are going to charge a basic fee of between $70 and $120 to help you hit the ground running. However, during peak times, costs have risen upwards of $200-300…I’ve even heard that at one time, someone tried to mint an NFT on Rarible for $600.00 .
You may be thinking “Why are NFTS so expensive to mint?”
One way to think about this is again, gas fees aren’t the only fees that make the cost of minting an NFT vary wildly. There are also fees tied to the selling and buying of them , especially when there are conversion fees used between different cryptocurrencies used on the NFT marketplace, such as Ether or Bitcoin.
How much does it cost to mint an NFT on Ethereum?
The cost to mint an NFT on Ethereum, the most popular blockchain host for NFTs, can be a little expensive, though incoming Ethereum patches are trying to fix this problem. According to one analyst, the minimum cost of minting an NFT is around $70 , which means that the token price would be somewhere close to $100.
This of course begs the question “How much does it cost to mint a digital artwork NFT?”
Other cryptocurrency analysts say minting a digital artwork NFT can be often free to cost between $70 to $100 , according to The Art Newspaper. Generally, though, many factors come into play when determining the cost of minting an NFT.
One way to think about this is however, the general rule is you pay either zero or meager fees when you buy, sell, and trade after that. A marketplace will take the initial hit of minting the NFT, but they will take a larger % of the sale than above when the art sells.
How to mint an NFT on OpenSea?
If you want to mint an NFT on Open. Sea , you can either use Moralis’ Open, and sea plugin. Otherwise, you can start by visiting Open. Sea ’s official website. Once there, you need to click the “Create” button: In the next step, you will be asked to connect your wallet.
Which blockchain should you Mint your NFTS on?
One of the considerations is that the blockchain you choose to mint your NFT on will also determine which marketplaces you are able to use. The Ethereum blockchain has some of the largest NFT marketplaces, which include Open. Sea, Rarible, and Mintable.