Solsea is one of the most reliable NFT marketplace available. Non-fungible tokens (NFTs) gained a lot of traction in 2021, and the trend is expected to continue, albeit at a slower pace, in the following year. There are a variety of reasons why people want to make, sell, and collect diverse NFTs.
Some of them are interested in the art, while others are attempting to speculate on its value, a third is being used as a component of a blockchain-based game, and so on.
Whatever the reason, it appears that NFTs will be around for a long time to come. It’s only natural that Ethereum emerged as the dominant network for their development, and the ERC-721 token standard has maintained its position as the market’s leading standard.
However, as a result of network congestion, exorbitant fees, and long transaction processing times, other blockchains have emerged as a viable alternative for consumers looking for more affordable and faster solutions to their problems.
Solana is one of the platforms. Rather than fading away, Solana is prospering in the non-fungible token arena as more entrepreneurs look for Ethereum alternatives in order to start their non-fungible token initiatives.
The steps in this article will walk you through the process of creating NFTs on Solana specifically on Solsea, the largest NFT marketplace on the network.
What Is NFT Minting?
Minting is the act of converting a digital file into a digital token using cryptography. That is, converting an asset into a digital token that can be moved, stored, and tracked on the blockchain. Tokens can be created from virtually any digital file format, including mp3, mp4, jpg, WAV, PNG, and GIF, among other formats.
How To Mint NFT On Solsea
Step 1: Install Phantom
- Visit Phantom.app and install it as an extension to your browser if you don’t already have it.
- When you’re done, click on “create new wallet”
- You’ll get a secret recovery phrase that you may use to reinstall the app on another device. Your wallet will not work if you lose this phrase or write it down incorrectly.
- So, write it down, preserve it safely, and remember.
- Note: there’s no Android version of Phantom yet, so beware of phishing and fake apps.
- Phantom will now be added to your Browser. To access it, simply click the Phantom icon in the menu bar.
Step 2: Fund Your Wallet
- You need SOL, Solana’s native cryptocurrency, to start minting. If you have SOL on Coinbase, you must transfer it to your Phantom wallet. Simply click the $ icon.
- Choose SOL and click on deposit.
- You can either scan the QR code or copy and paste the address underneath it.
- After funding your wallet, you can start minting NFTs on Solana.
Step 3: Create A New Account On Solsea
Connect your wallet to the platform. Simply select Phantom from the Connect Wallet menu at the upper right.
Phantom will ask for permission to link your wallet. Solsea will be able to see your funds and wallet activity and approve transactions.
Connect it to get to the Solsea sign-in page. Put in your email and password.
Accept the Terms and click Register. Solsea will send you a confirmation email. Your wallet will then be connected to the Solsea platform.
Step 4: Create An NFT Collection
First, you need to build an NFT collection where you will keep your NFTs. Move over to the “Create” tab and click on Collection.
- Then choose a title and add the description for your collection
- Upload the header and the icon image of your NFT
- Add your social media profiles, website, or other information about you
- Click on “Create Collection” when you are finished and sign the transactions to officially mint the collection.
It is possible that you will get a pop-up notice stating that a mint transaction has failed this is most likely due to a glitch on Solsea’s end, and you will need to wait a short period of time for the transaction to finish.
You can check the transaction history in your wallet, or you can use any Solana block explorer if you’re not sure if the transaction has been accepted or rejected.
After the transaction has been confirmed, go to Wallet and select My Collection from the dropdown menu.
Step 5: Mint Your NFT
- Go back to the Create tab and, this time, choose “NFT.”
- Upload the file. The acceptable formats are; JPEG, PNG, or GIF for images and MOV or MP4 for video.
- Be sure to find out the accepted format before you start.
- Choose the title and add a description to your image
We now have the option of establishing royalty payments. This is the percentage of money that you, as the creator, will receive each time your NFT is resold on the secondary marketplace.
The proportion can be set anywhere between 0 percent and 50%, and it can be customized to fit your own business strategy.
The next fields are optional, however, it is highly advised that you complete them. You can add the external link to your artwork page if you have one so that people can see more of your work.
When it comes to tags, choose the tag that corresponds to the type of file you’re working with (if it’s an mp4, choose video).
Your NFT becomes searchable based on its tag once it has been minted and listed.
Summary On How To Mint NFT ON Solsea
Solsea is also the first NFT marketplace to incorporate licenses within NFTs, making it a first in the industry.
Because of these permits, you will be able to identify exactly what you are offering, and customers will know what they are purchasing.
It is possible to add a new NFT to an existing NFT collection if you already made one by selecting it from the Collection drop-down bar.
Finally, you must include the characteristics; however, you must proceed with caution because once they have been created, they cannot be changed.
Note that Each time your NFT is sold on the secondary market, you’ll receive a percentage of the sale price as a commission (which will go directly to your wallet)
Minting NFTs on Solana is a fairly simple process that requires no particular coding knowledge or expertise. When it comes to minting NFTs on OpenSea, the procedure is very identical to that described above.
Overall, Solana is one of the most advanced blockchains when it comes to non-fungible tokens, and being able to take advantage of this is essential for anyone wishing to make a name for themselves in the realm of digital art.
However, it is not without its flaws and shortcomings. The network has been experiencing frequent outages, and it also slows down significantly during periods of high load – similar to what happens with Ethereum.