Booming with GameFi's timing in 2021, the NFT market has been valued at $40 billion. A number that is “too terrible” compared to the value of about 106 million dollars in 2020 and 15 million dollars in 2019.
By 2022, NFT is still receiving a "huge" inflow of money from the cryptocurrency market. Among them, NFT trading platforms have also grown stronger than ever, such as OpenSea, MagicEden, Rarible, Binance, etc.
There is no denying the attraction of the NFT market to the crypto community when there are continuously hundreds of thousands of dollars worth of collections for sale on exchanges. The special feature of NFT is that it is valued by the community, so not only big projects, but anyone can create their own collection of NFTs.
Surely many of you already know about buying and selling NFTs, but don't know how to create them yourself. That's why in this article I will guide you all steps on how to mint an NFT for free so that you can own a free collection and trade them on the popular NFT platforms today.
NFT Overview
NFT- short for Non Fungible Token - is a non-fungible token. In simple terms, NFT can be a photo, a work of art, a song or anything around us that is transformed into a digital asset.
This NFT asset will be a unique version and has certain ownership. You can buy and sell them through DeFi platforms also known as NFT Marketplace.
Why Minting NFTs?
When it comes to NFT, it still seems to be a new world for many people. And surely there will be a lot of people asking the question "Why create NFT?" and "What do you create them for?" To answer this question, I will divide the object that creates the NFT set itself:
The first and also the object group that brings the main value to the majority of NFTs on the market today, that is artists or crypto projects. They create NFT with a lot of different purposes and mainly to sell to the market and make a profit. These NFTs can be an item/character from a GameFi game or a collection of artwork by a famous artist. Or it can also be a tool to help their owners have privileges such as staking tokens, receiving Whitelist or Airdrop rates, ...
Besides, there will also be a group of subjects who just want to create NFT to store their memories. It can be daily life images, self-drawn paintings or new wedding invitations according to the “blockchain version”. There are even sets of NFTs created by accident because they just want to know how these digital assets are created and traded on blockchain platforms.
Take a specific example from the case of an Indonesian boy, who suddenly became a millionaire just because ... NFT collection of his own selfie images was posted on the famous NFT trading platform OpenSea.
According to Lifestyle Asia, there was a time when Ghozali's NFT selfies were sold for 0.9 ETH or about $3,000, which is too much for a selfie. From there, it can be seen that anyone can mint and create their own NFTs and their value will also be extremely diverse at many different levels.
What Brings Value to The NFT?
There are many factors that affect the value of 1 NFT at the moment. Although there is still no specific standard used to value NFTs, they will basically depend on the rarity, use, uniqueness and also the FOMO of the community.
Example: An NFT created by famous artists such as Beeple, Damien Hirst and Takashi Murakami will usually have greater value and be sought after by the community.
That's why NFT remains a potential field for creative artists around the world. They can benefit from a percentage of royalties received on each NFT product traded on the exchange. And maybe one fine day, my NFT collection accidentally caught the eye of a certain KOL and created a fever in the community. Because really, in the world of NFT in particular and crypto in general, there are always elements of "surprise" and "utopia".
If you are deeply interested in the features and applications and how to make money from NFT, you can learn more on our site. Next we will come to learn how easy it is to mint an free NFT for free!
What Preparation is Required to Mint an NFT?
There are quite a few ways you can mint your own NFT. You can choose from different blockchains such as Ethereum, BNB Chain, Solana, ... or specialized platforms for NFT.
In this article, I will show you the ways that I think are the simplest and most convenient for you to mint NFT, which is minting with the NFT Issuer feature on Coin98 Super App and on OpenSea.
Accordingly, you basically just need to prepare: 1 e-wallet (Coin98 Wallet Multichain or MetaMask wallet) 1 small token for transaction fees depending on the platform (BNB for BNB Chain, MATIC for Polygon,...) 1 account on Binance/ OpenSea. 1 work that you want to cast into NFT (image, video, domain name,...depending on the platform).
How to mint NFTs across platforms
Minting NFT with NFT Issuer on Coin98 Super App
Currently, the NFT Issuer feature on Coin98 Super App is supporting users to mint NFT on prominent EVMs: BNB Chain, HECO Chain, OKExChain, GateChain, KuCoin Community Chain, Avalanche C-chain, Polygon, Fantom, Gnosis Chain, TomoChain.
Specifically, to mint NFT with Coin98 Super App, you need to prepare: Install Coin98 NFT Wallet. Network gas fee (depending on the chain you want to mint NFT). The file of the work that you want to cast into NFT.
You can refer to how to download the app and create a Multichain wallet on Coin98 Super App in the following instruction:
How to create NFT on Coin98 Super App
Step 1: Open the Coin98 Super App, at the main interface screen → Select "See more" (1)
Step 2: Scroll down to the “Tools” category (2) → Select “NFT Issuer” (3)
Step 3: Enter the information of the NFT: Select the image file that you want to cast into NFT. Select Blockchain.
Name the NFT. Add description of NFT features or description (optional). If you have multiple wallets, you can reselect the wallet address that owns the NFT you are minting. When entering all the necessary information → Select “Initialize”.
Step 4: To mint NFT, you need to pay a certain network fee. This fee will vary depending on the Blockchain you choose.
Step 5: Select “Done” to confirm → Complete NFT minting.
Depending on the NFT blockchain that you have created, you can transfer them to the respective platforms such as OpenSea (Ethereum), Binance NFT (BNB Chain),... In addition, you can also use Coin98 wallet to store , send or receive NFT like a normal token.
NFT casting on OpenSea
OpenSea is supporting a wide range of NFTs such as collectibles, in-game items (GameFi), domains (ENS name) or digital works. OpenSea NFTs are currently supported on blockchains such as Ethereum, Polygon, Klatyn, and Solana.
However, in this article, I will show you how to mint NFT for free on the Polygon blockchain because this way will be completely free and you will not need to pay minting fees like other chains.
Specifically, to mint NFT for free on the OpenSea platform, you need to prepare:
- 1 electronic wallet (MetaMask, CoinBase,...)
- Connect to Chain Polygon
- The work you want to cast into NFT (JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF. Max size: 100 MB)
You can refer to how to create a wallet and add a network to the MetaMask wallet in the following guide:
Step 1: Visit OpenSea's website by following the link: https://opensea.io/
Step 2: At the main interface screen, select the wallet icon in the right corner.
These will be the supported wallets on OpenSea, here I will use the MetaMask wallet.
Step 3: After successful connection, select the icon (1) in the right corner of the screen and select “My Collections” (2) → Select “Create a Collection”.
Go to My Collections
Step 4: Choose your avatar image and name your NFT collection.
Select chain Polygon (1) and “Create” (2).
Step 5: Select “Add items” to start creating NFTs for your collection.
Step 6: In this step, you will upload the file that you want to convert into NFT and fill in additional information such as name, description, collection, …
Here are two parts you need to pay attention to:
- Copyright (Creator Earning) : you can set additional royalty percentage for anyone who wants to own your NFT. Accordingly, not only can make money from selling NFT, the source of income from royalties is also a novelty that attracts the attention of artists who want to release their products in the form of NFT.
- In this part, you should switch to the Polygon network to get free gas when casting, which is a list of NFTs for sale.
Step 7: This is an image of your NFT that has been cast. You can store it in your wallet or list it on the exchange for sale depending on your purpose.
Note: When the NFT is sold successfully, OpenSea will charge a platform fee of 2.5% on the value of the NFT.
Some notes when minting NFTs
- You can send and receive NFTs to other wallet addresses similar to regular tokens, as long as the chain is correct.
- To make your NFT more valuable, you should try to create and build for each NFT a story or a unique character.
- When minting NFT on Coin98 wallet, you should prepare a little token to make the gas fee corresponding to the chain you want to create.
- When minting NFT on OpenSea, you should choose Polygon chain instead of Ethereum if you want to save on gas fees.
After you have your own NFTs, you can hold them as souvenirs or sell them on platforms. With Opensea you can list right on the platform for sale. With NFT created from Coin98 wallet, you can also list on Opensea or Binance.
Summary
So I showed you how to mint an NFT for free. If you have any questions during the NFT minting process on the above platforms, you can leave a comment below. Our team will try to assist you as soon as possible! Hope the article has provided you with useful information in the process of investing in the crypto market.
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