NFT minting is the computer process of creating a new NFT in the blockchain. Users especially mint NFTs on the websites of new projects. When they mint NFTs, they become the first owner of the digital asset. The information about a minted NFT, including the details of ownership, is stored on the blockchain.
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. 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. The arts are distributed randomly, through a computer process. Every digital asset has the same price. Normally, the cost of NFTs is lower during the minting process, than during the normal sales period. Follow the guideline below to mint your NFT.
i. 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.
ii. 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.
iii. 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.
iv. View your collection
After minting, you can now view your minted assets in your wallet.