{"id":19367,"date":"2022-03-31T16:27:31","date_gmt":"2022-03-31T16:27:31","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=19367"},"modified":"2022-05-04T21:37:18","modified_gmt":"2022-05-04T21:37:18","slug":"minting-nfts-an-extract-from-the-ultimate-guide-to-nfts","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/minting-nfts-an-extract-from-the-ultimate-guide-to-nfts\/","title":{"rendered":"Minting NFTs &#8211; An Extract From The Ultimate Guide to NFTs"},"content":{"rendered":"<p><strong>Minting is the process of encapsulating a digital asset into a blockchain as a public ledger, i.e., as an NFT. It is a straightforward process that everyone can learn about, and eventually, put into practice.<\/strong><\/p>\n<p><iframe loading=\"lazy\" title=\"NFTs UpRising citiesabc ultimate guide to NFTs Non Fungible Tokens book by Dinis Guarda and guests\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/uwnwrZccRcw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p>This is an extract of the upcoming &#8216;Metaverse NFTs Uprising Ultimate Guide to NFTs&#8217; By Dinis Guarda.<\/p>\n<p>Non-fungible tokens, or NFTs, are virtual representations of real-world assets. Early examples of NFTs are more than just the media soundbites around NFT trading, art speculation, or NBA sports collectives. There is something deeper, transformative, and radical going on. NFTs open the floodgates to new possibilities of creating, storing, selling, buying, and collecting value. So how do these tokens work in practice? First, if you want to create an NFT, you will have to \u201cmint\u201d it first. This piece explains the process of minting in an accessible, easy to understand way. Promoting it is another piece of the puzzle. Let\u2019s demystify it.<\/p>\n<h2>What is Minting?<\/h2>\n<figure id=\"attachment_19369\" aria-describedby=\"caption-attachment-19369\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"wp-image-19369 size-large\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2022\/03\/Minting-NFTs-An-Extract-From-The-Ultimate-Guide-to-NFTs-1-1024x576.png\" alt=\"Minting NFTs - An Extract From The Ultimate Guide to NFTs \" width=\"900\" height=\"506\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/03\/Minting-NFTs-An-Extract-From-The-Ultimate-Guide-to-NFTs-1-1024x576.png 1024w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/03\/Minting-NFTs-An-Extract-From-The-Ultimate-Guide-to-NFTs-1-300x169.png 300w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/03\/Minting-NFTs-An-Extract-From-The-Ultimate-Guide-to-NFTs-1-768x432.png 768w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/03\/Minting-NFTs-An-Extract-From-The-Ultimate-Guide-to-NFTs-1.png 1200w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption id=\"caption-attachment-19369\" class=\"wp-caption-text\">Minting NFTs &#8211; An Extract From The Ultimate Guide to NFTs<\/figcaption><\/figure>\n<p>Minting is the process of encapsulating a digital asset into a blockchain as a public ledger, i.e., as an NFT.\u00a0 NFTs ensure authentic representation for your digital work whilst at the same time also ensuring that it can be flexibly traded or purchased in the market.<\/p>\n<p>When you \u201cmint\u201d a file, you turn it into a part of the blockchain.\u00a0 Minted NFTs are unique and cannot be replaced, edited, tampered with, or substituted with any other tokens (even by the owner!).<\/p>\n<p>Minting guarantees the originality of NFTs and ensures that the items can be traded or purchased in the NFT market without issue.\u00a0 This process also enables users to track the ownership and resale in the future.<\/p>\n<p>Once an NFT is minted, the tokenised information is stored on its blockchain until the blockchain ceases to exist.<\/p>\n<h2>How to Mint an NFT<\/h2>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19380 size-large\" src=\"https:\/\/www.openbusinesscouncil.org\/wp-content\/uploads\/2022\/03\/The-Ultimate-Guide-To-NFTs-Minting-NFTs-3-1024x512.jpeg\" alt=\"\" width=\"900\" height=\"450\" srcset=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/03\/The-Ultimate-Guide-To-NFTs-Minting-NFTs-3-1024x512.jpeg 1024w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/03\/The-Ultimate-Guide-To-NFTs-Minting-NFTs-3-300x150.jpeg 300w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/03\/The-Ultimate-Guide-To-NFTs-Minting-NFTs-3-768x384.jpeg 768w, https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/03\/The-Ultimate-Guide-To-NFTs-Minting-NFTs-3.jpeg 1200w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<p>There are multiple ways to mint an NFT; some are more complicated than others.\u00a0 The easiest way to mint an NFT (\u2018lazy minting\u2019) is using the minting feature provided by NFT marketplaces such as OpenSea and Rarible.<\/p>\n<p>In general, one would only use a more complex method of minting using features not supported within the marketplace or if developing a bespoke blockchain implementation, which would require specialist technical knowledge.<\/p>\n<p>On most platforms, minting isn&#8217;t free.\u00a0 Executing a contract on the Ethereum blockchain platform (and others) incurs a \u2018gas fee\u2019 and a service fee, so make sure your e-wallet is in funds.<\/p>\n<p>Most minting functions work in the same way.<\/p>\n<p>In general, you will simply need to select the &#8220;Create&#8221; option, which will ask you to upload a file (your creation) and provide additional information, including the file name and write a brief description of the work and possibly a description also of terms of use.<\/p>\n<p>Once the details are complete and finalised, you will likely be redirected to a preview page to show how your new NFT will appear on the website.<\/p>\n<h2>Marketing your Creation Once Minted<\/h2>\n<p>The process above makes your shiny new NFT available for purchase; however, as with all products, it needs marketing to get the best return on your NFT so that it is visible and attractive to the broadest pool of likely buyers.<\/p>\n<p>Although anyone can create an NFT, this does not mean it is easy to make money selling NFTs.\u00a0 It can be challenging.\u00a0 Many NFTs either never trade or sell for extremely low values.\u00a0 There are two main reasons for this: the work has no market appeal or has not been adequately promoted.<\/p>\n<p>To the first point, for an NFT to have value, the media needs to have some sort of significance.\u00a0 The value of the most sought after NFTs derives from the artist\u2019s reputation or the historical importance of the asset.<\/p>\n<p>The second, however great the artist and their creation, their uniqueness is not the only factor.\u00a0 Most creators and their work benefit from some form of promotion.\u00a0 Planning this out is key to optimising financial return. Effective promotion is vital in all cases, which may seem obvious; however, many creators do not have a marketing perspective and finish with minting the NFT.\u00a0 Promotion is essential for making money and developing a reputation.<\/p>\n<p>In conclusion, minting and using NFTs is relatively straightforward and requires relatively little expertise.\u00a0 Most marketplaces provide functionality enabling non-technical users to create, sell and buy NFTs easily and quickly. So mint away and market your creations as well as possible!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Minting is the process of encapsulating a digital asset into a blockchain as a public ledger, i.e., as an NFT. It is a straightforward process that everyone can learn about, and eventually, put into practice. This is an extract of the upcoming &#8216;Metaverse NFTs Uprising Ultimate Guide to NFTs&#8217; By Dinis Guarda. Non-fungible tokens, or [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":19369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[25,4563,3822,3501],"tags":[19828,19862],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.1 (Yoast SEO v19.7.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Minting NFTs - An Extract From The Ultimate Guide to NFTs - OpenBusinessCouncil Directory<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/minting-nfts-an-extract-from-the-ultimate-guide-to-nfts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minting NFTs - An Extract From The Ultimate Guide to NFTs\" \/>\n<meta property=\"og:description\" content=\"Minting is the process of encapsulating a digital asset into a blockchain as a public ledger, i.e., as an NFT. 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He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. 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