With the development of cryptocurrency, everyone is aware of the new technologies coming up. Things like metaverse bitcoin are blowing the market. One such technology is the NFT. This article tells you how to mint an NFT on Solana.
NFT is the abbreviation for Non Fungible Tokens. It is a form of cryptocurrency, but the base concept is different. The data unit is associated with digital files. It can be photos, videos, or audio. It is stored in the blockchain.
Given this information, everyone is now looking forward to investing in NFTs. Solana is one of the blockchain platforms that facilitates you the same. You might be wondering how to mint an NFT on Solana? This article serves the purpose of answering this question. You can check out how to mine cryptocurrency on android here.
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Table of Contents
What Is Solana?
Solana is a public blockchain platform with its cryptocurrency called SOL. Solana is an affordable option for getting into cryptocurrency as it ensures that the transactions are below $0.01 for users and developers.
It aims at scaling the blockchain for worldwide adoption. Using a unique algorithm Proof of History allows Solana to timestamp all the transactions and thus identify, distinguish, and validate them.
Decentralization makes Solana an unstoppable platform for transactions along with economic and fast.
Minting Vs Buying
There are two ways to buy NFTs
- Primary Market
- Secondary Market
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Mint Sites: Primary Market (How To Mint An NFT On Solana)
In Primary markets or Mint sites, you buy NFTs directly from the creators. Minting in NFTs is similar to mining in Bitcoin. You pay for minting a set and then become the first owner of the NFTs that come. However, you won’t know what NFTs will be minted until the process is complete.
There is always an uncertainty about what kind of NFTs will come out. There is always a luck factor, and if you have luck by your side, you can get your hands on NFTs that we term “rare.” These NFTs are called rare because they have a particular trait that is uncommon among NFTs
The date and time of minting are declared well in advance so that people will be ready at that time. The popular sets of NFTs are sold within minutes after minting is finished.
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Marketplaces: Secondary Market
Market places are where people sell the pre-owned NFTs to make profits. People tend to sell the NFTs they get from minting on marketplaces as soon as possible to maximize their profits.
The lowest price associated with an NFT in the marketplace is called its Price floor, which, at times, can be lower than the original mint price. Thus, you should look for offers at marketplaces as well.
Between the two ways to buy NFTs, buying through minting is preferable for beginners as it is solely based on luck. You have to be present at the correct time and set of NFTs to mint an NFT from Solana. While buying from marketplaces, you have to be wary of all sorts of knowledge about the pricing of NFTs, rare traits, and all other things that determine the price of an NFT. Solana aids you in buying NFTs through minting.
Locating Mints on Solana
This page is the key to tracking upcoming mints on Solana. Apart from minting price, this website displays several other essential information such as the number of NFTs, date of minting, link to the website, etc.
You can use Twitter or Discord servers to get information on upcoming mints, probable profit-making NFTs, and unique traits and select the best set of NFTs for yourself for minting.
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Phantom Wallet (How To Mint An NFT On Solana)
Solana provides Phantom, an exclusive wallet supported by almost all NFT projects. Although Phantom is available only on browsers like google chrome, MS edge, brave, firefox, and not on android or iOS, it is a must-have to begin minting or making transactions in Solana.
After opening Phantom, click on create new wallet button. Further, set up a secret recovery phrase to keep your account secure and allow you to use the same wallet on different devices or browsers. At last, create a password, and now you are ready to discover the answer to how to mint an NFT on Solana. You can also learn about different crypto wallets and choose the best one for yourself here.
Minting An NFT on Solana
The process of minting NFTs on Solana can be broadly divided into three steps.
Let us discuss how to mint an NFT on Solana.
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Being on Time
As mentioned above, NFT mints may end up very quickly, at times in a few minutes. To mint an NFT on Solana, you need to be present at the NFT site of your choice at the correct launch time. Login to the mint page a few minutes before the launch time.
Keep refreshing the page. Ensure that your phantom wallet is connected and has sufficient SOL, Solana’s cryptocurrency.
Connecting Phantom (How To Mint An NFT On Solana)
After the mint is live, the first thing you should do is connect your phantom wallet. To do so, first, click on connect wallet and then select Phantom. A pop-up box will appear, asking you for the password.
Once you enter the password, you’ll log in to the wallet. Further, permit the wallet to connect to the minting website.
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Once the wallet is connected to the website, a connection is secured. After that, you’ll be prompted to click on the “mint” button. Enter the number of NFTs you want to mint. This varies depending on the website.
Some websites allow you to obtain up to 15 NFTs in a single transaction. Moving forward, confirm the transaction in the wallet confirmation pop-up. Then, After confirmation, you can successfully start minting.
Congratulations, now you know the answer to how to mint an NFT on Solana.
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What to Do After Minting?
Once you are done with minting, here’s what you can do.
See the Results
Minting would be completed in just a few seconds. You may or may not get a notification for confirmation.
To see what you obtained from the mint, go to the collectibles section in your phantom wallet. You can view all your obtained NFTs there.
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Check Marketplace (Mint NFT On Solana)
If you wish to sell your NFT immediately or your transaction was unsuccessful, you should visit the marketplace and check for the offers.
Often, offers at the marketplace can be better than what you could get through minting.
Don’t settle down on what you got in the mint. Numerous mints are launching daily. You should be in touch with your Discord and Twitter servers and plan for your following mint. You can also learn to create cryptocurrency here.
It is even possible to learn more about your mint, rare NFTs obtained in the mint, the worth of the NFTs you got, and many more things through these servers.
How much is the Solana coin worth?
Although the prices fluctuate, $100 is the median price of Solana coin, SOL. Solana has 1.61% market dominance.
Is Solana proof of stake?
Yes. Solana is proof of stake. Furthermore, it uses a new technology proof of history, allowing Solana to validate transactions quickly.
How much does it cost to mint an NFT on Solana?
Although the prices vary according to the site, as Solana is a low-cost blockchain platform, Solana keeps transactions below $0.01 only.
Conclusion (How To Mint An NFT On Solana)
A few years ago, bitcoin’s popularity surged exponentially. Coders developed many apps so that people can trade bitcoins. One of the most used and trusted apps is TheBitcoinCode. This application works wonders and allows you to look for trades according to your criteria. It filters out searches based on your recommendations. But now is the era of NFTs.
Solana allows you to trade or mint NFTs at low cost and very high speed. “Proof of History” enables Solana to timestamp all the transactions making it the most trusted platform for NFTs.
You should be present at the correct time in the proper place to get your hands on the best NFTs from the mint. The marketplace is a secondary place to buy and sell NFTs. The Twitter and Discord servers will help you find the best NFT mint site. You can also check out how to recover stolen cryptocurrency here.
We hope we have answered your question on how to mint an NFT on Solana with this article.