NFT Minting Platforms-The Perfect Vehicle For The Perfect Token
NFT minting platforms account for 80% of all global NFT sales by providing the necessary infrastructure to mint, purchase, and sell NFTs. While 2022 was a tumultuous year for the NFT space, the global NFT market cap is expected to reach $231 billion by 2030, as reported by Verified Market Research (VMR).
That being said, you can’t ignore the importance of NFT minting platforms and their significant contribution to rising global sales. Whether you’re a digital artist, musician, or collector, NFT minting platforms are the perfect vehicle to bring your unique creations to the world and earn revenue from them. With their unparalleled flexibility and ease of use, it’s no wonder that more and more creators and collectors are turning to NFT minting platforms to showcase and monetize their digital art.
This article will guide you through the potential benefits of NFT minting platforms including the most talked about and the most trafficked platforms to start your NFT minting journey.
Before we move on, let’s make sure we understand the basics.
What are NFT minting platforms?
NFT minting platforms allow you to easily mint, manage and sell your digital assets, all while providing a seamless user experience. These platforms have a user-friendly interface to mint NFTs, typically by uploading their digital artwork – images, videos, gifs, literary notes, music, or other types of digital content. Moreover, these platforms provide tools to easily create listings, set prices, or track sales.
Benefits of NFT minting platforms
NFT minting platforms foster creativity and innovation in the digital art world and facilitate the buying and selling of digital assets. These platforms make creating a saleable digital artwork easy, allowing people to become a part of the NFT craze. There are many advantages of NFT minting platforms and some of them are described below to help you get started.
1. Ownership and security
One of the key benefits of NFTs is the ability to record and trace ownership on the blockchain. This ensures that the ownership of each digital asset is transparent and immutable, as it cannot be altered on the network. The blockchain also allows for a clear and traceable history of the NFT, further adding to its value and authenticity. Overall, the use of blockchain technology in these platforms usually has advanced security measures in place to protect NFTs from fraud and hacking.
2. Built-in toolkits
NFT minting platforms typically have user-friendly interfaces and built-in toolkits that allow you to bring your imagination to life and scale your creative ambitions. Whether you want to create your digital NFT collection or mint NFT in-gaming assets compatible with multiple metaverses, these platforms have toolkits for every type of creator.
3. Automation of smart contract facilities
NFT minting platforms often automate smart contract functionalities like minting, transfer, ownership, royalties, and more which makes it easy for creators to mint, manage and sell their NFTs.
4. Built-in marketplaces
NFT minting platforms like Opensea, Zora, and Binance have built-in marketplaces where creators can mint and list their NFTs for sale. However, the selling process is not easy, you need to spend time in marketing to attract potential buyers to purchase your digital assets. The best way to market your NFT is to use Reddit and Twitter ads. That said, it’s wise to seek help from an experienced NFT marketer to help you get started and reach a purchase-ready audience.
5. Lazy minting feature
Some platforms – such as Rarible – offer a lazy minting feature which means that your NFT won’t be officially minted unless someone buys it, saving you the gas fee. Lazy minting is a more efficient and cost-effective way to mint your NFTs. Instead of minting each token individually, lazy minting allows for the creation of a single token that represents a group of similar items or assets. This group can then be divided and sold as individual tokens, but the minting process is done only once for the entire group, thus saving time, resources, and gas fees.
Best NFT minting platforms
There are numerous blockchain platforms like Rarible, Solana, KnownOrigin, Mintable, Bored Ape Yacht Club, The Sandbox, Nonfungible, CryptoPunks, etc. that have grown in popularity within the NFT space. However, the popularity of these platforms may change over time.
Here’s our curated list of the most popular platforms for NFT minting and trading.
1. The Ethereum Blockchain
The most talked about — and the most trafficked — blockchain in existence. Ethereum has a built-in smart contract capability, which enables the creation and execution of self-executing contracts used to mint NFTs. Also, the availability of various tools and libraries such as OpenZeppelin and Truffle provide reusable smart contract modules and development frameworks for building NFTs. All transactions on the Ethereum blockchain are recorded on a public ledger, which can be easily viewed and verified by anyone. However, it’s worth noting that the Ethereum network can be congested and the fees for minting and trading NFTs can be high.
2. The Cardano Blockchain
The Cardano blockchain has made it simpler for those who are not tech-savvy to mint, manage, and sell NFTs. The platform offers abundant resources and tutorials to assist creators throughout the minting process. The procedure of creating NFTs on Cardano is comparable to minting on Ethereum or Solana.
To begin, you will need to establish a wallet. The type of NFT you want to mint will ultimately determine the best place to mint it. Therefore, your next step should be to decide the type of NFT you want to create. Additionally, you will also need to decide if you want to create a one-of-a-kind NFT or an edition of multiple copies of the same NFT.
3. OpenSea
OpenSea is a popular NFT minting and marketplace platform built on the Ethereum blockchain. It allows creators to mint, sell, and trade unique digital assets such as art, collectibles, and in-game items. OpenSea also offers a wide variety of tools and resources for creators to mint their own NFTs, including easy-to-use minting interfaces and smart contract templates. The platform also includes a built-in wallet that allows users to manage their NFTs and make transactions.
Additionally, OpenSea also allows users to create NFTs together in a group based on a theme or category. It also has an affiliate program that allows creators to earn royalties when their NFTs are resold by other users, this can be a source of passive income for the creators. However, it’s worth noting that OpenSea, like most NFT marketplaces, does take a small percentage of the sale as a commission for their services.
Can you mint NFT on multiple platforms?
Yes, it is possible to mint an NFT on multiple platforms. Each platform has its own set of rules and requirements for minting NFTs, and some may have different technical specifications or fees associated with them. However, as long as the NFT is unique and conforms to the rules of each platform, it can be minted and traded on multiple platforms.
It’s worth noting that once an NFT has been minted on one platform, it can be easily transferred to other platforms that support interoperability. This means that the NFT can be moved to other platforms using the same private key, without the need to mint it again.
Additionally, creators and minting platforms may also choose to list their NFTs on multiple marketplaces, which are platforms where NFTs can be bought, sold, and traded. This allows for greater visibility and accessibility to a wider audience of buyers and collectors, which can increase the demand and value of the NFT.