How many fees does it cost to mint an NFT on Opensea? NFTs are a revolutionary new art form that is taking the world by storm. With their popularity exploding in recent times, there are many people who are looking to mint their own NFT but are afraid of the high fees. However, this can even be done for free on some of the most popular NFT markets. This article will guide everyone on How to mint NFT for free on OpenSea.
How to mint NFT for free on OpenSea?
In this step-by-step guide, Austinvisuals will walk you through everything there is to know about turning your digital assets into NFT art.
NFT stands for Non-Fungible Token, and it is used to prove ownership over a particular asset. In general, I am referring to digital assets when talking about them. Mining NFT simply refers to its creation on the blockchain.
What can NFT be? Basically anything we have and own in the digital space. It could be a tweet, digital artwork, or even a music album, but the most successful we’ve seen in 2021 are art collections.
With the help of the art blockchain, artists from all over the world can safely reach art collectors and sell their work. The best news about this is that anyone can create and learn how NFT sells art.
But the process of tokenizing a digital, or minted NFT, comes with a hefty expense. Most of us are created on Ethereum, so we will talk about minting on Ethereum. But the popular network has a huge disadvantage when it comes to NFT transactions which are gas fees, in general, NFT gas fees are high. This will be a point but for when the network transitions to Ethereum 2.0.
Is NFT Art a good investment
While NFT is too the end is not another compared to uploading a piece of content on a streaming platform, gas is not an unnecessary amount and it can change over time. I suggest you check the current Ethereum gas price on Etherscan before concluding and executing transactions.
To mint and generate, you will need a crypto wallet like MetaMask and some ether (ETH) to pay for gas. However, in this tutorial, I will show you how to create and sell NFTs for free using both the Ethereum and Polygon blockchains.
Free minting of NFTs
To participate in how to sell NFT art, you need to first choose an NFT marketplace where you can mint NFTs for free. You will also need a crypto wallet to pay fees and receive payments if your NFT is sold.
You can create and sell NFTs on a variety of specialized platforms. We will cover the most popular platforms for NFT trading – OpenSea and Rarible. As for crypto wallets, there are many wallets supported by these platforms, but I will use MetaMask as it is one of the most popular among crypto users.
However, an important aspect of these popular NFT marketplaces is that they allow free minting of NFTs, but they still charge a 2.5% service fee (from the sale price) for each NFT listed. This fee goes to the platform and not to the blockchain network.
This step-by-step guide will help you understand how to create and sell NFTs, no matter how new or experienced you are with the crypto space.
How To Mint NFT On Opensea For Free – No Minting Cost
Step 1. Install and Create a MetaMask Wallet
MetaMask is one of the most popular crypto wallet and it works as a browser extension on your device. If you haven’t used it before, go to the MetaMask website and download the wallet.
Already have a MetaMask wallet? You can then enter it using the secret recovery phrase. If newly created, create a new wallet by following the steps indicated. Make sure you write down the secret phrase (using pen and paper) as it will be necessary to recover your wallet if something happens to your device. You will also have to set a password for the wallet, which you will need whenever you want to connect it to a new app.
Step 2. Connect MetaMask to OpenSea
Go to marketplace OpenSea and click on the top right wallet icon to connect your wallet. Select MetaMask and confirm the connection from the wallet (a pop-up will appear). Once your wallet is connected to the NFT marketplace, you will be able to view your profile and create your first NFT.
Step 3. Create and mint NFTs for free on OpenSea
You can choose between one or a collection of NFTs. Considering the most popular NFTs, I recommend minting a collection of NFTs, as they seem to be more successful than single NFTs.
To create a unique NFT, click Create (on the top right menu). If you want to mint an NFT collection, click the account icon (top right, next to the wallet icon) > My Collections > Create Collection .
The steps are quite similar to menu and collection. The NFT Collection will require more details and once you create it you will be able to add items to it and choose the exact amount of each NFT minted. You can always burn some of these later if you want to create more scarcity for your NFTs.
You will have to provide a few details, including:
- Digital artwork (images, video, audio, 3D models)
- name
- External link
- Description
- Collections (if you have multiple collections created)Special Attribute
- Unlockable Content
- Palace
- Blockchain
Since we are talking about how to create and sell your NFTs for free, it is important to choose the Polygon blockchain, instead of Ethereum, the default blockchain.
Most of you have heard that Ethereum is the blockchain specifically for NFTs, but there are other blockchains that support smart contracts and NFT minting. Polygon is one of the leading networks for NFTs and cryptocurrency trading, as it offers significantly lower fees and faster transaction speeds. In this case, it allows OpenSea creators to mint free NFTs..
Click Create, and your first NFT will be minted. However, the item is not listed for sale and you won’t find it if you try to search for it using the search box.
Step 4. List your NFT
To list your NFT, click Sell (top right).
You can set the desired price for your NFT.
After you have placed all the details, click on the complete listing and the NFT will be listed for sale.
Note: OpenSea has a service fee of 2.5%, which will be deducted from the sale price, once the NFT has been sold.
And that’s it! Now you know how to create and sell NFTs on OpenSea.
What is Lazy Mining?
Lazy mining, also known as gasless minting, is allowing NFTs to be minted at the time of purchase (rather than creation) and generated to eliminate any upfront costs for new artists. Lazy minting is a feature available on the most popular marketplaces, including OpenSea and Rarible.
NFT Lazy minting was introduced at the end of 2021, as gas fees proved to be an issue for creators, especially those who were new to the field and didn’t want to spend much upfront. before they know if their work will sell.
With lazy casting, it is possible to delay the cost of NFT casting using advanced techniques until it is sold to the first buyer. It is practically minted on the blockchain until it is first sold. The data associated with it is stored on IPFS, a decentralized file storage system until it is minted.
The NFT designation transaction is also responsible for gas fees. That’s why creators don’t have to pay any extra cost to mint. Part of the purchase price goes towards creating an NFT record on the blockchain.
Company Providing Services To make NFT
Austinvisuals.com
At Austin Visuals 3D Animation Studio, we create computer graphics and provide custom animated ads and explainer videos to a global audience. AustinVisuals.com. Since we are always using the latest cutting-edge software and technology to create our services, we are often at the front of technology helping our business clients grow into new technology spaces.
Austin Visuals provides a service helping businesses and individuals create their own NFTs, we offer to onboard, consult, and will help guide you through your NFT creation process. If this is something you’re interested in email us at [email protected].
