Minting is a process for creating an NFT in a blockchain. What does it mean to mint an NFT? It means you interact with an NFT marketplace or smart contract of the project and then “print” it to the blockchain with your address and transaction ID. Minting an NFT will convert your digital files to a digital token registered in the blockchain. Each NFT will have a unique ID that records the history of its owners.
How much to mint an NFT? Minting an NFT usually requires a gas fee and whatever fee the platform charges its creator. Ethereum has the largest NFT market but the gas fee will vary by the minute depending on the network’s congestion (which is usually high). Alternatively, you can mint NFT in other PoS blockchains such as Solana, Polygon, Binance, and Fantom. These blockchains have a very low gas fee so minting an NFT will only cost a penny.
Lastly, minting an NFT is fairly easy as all you need is a digital wallet and the files you want to convert to NFT. Platforms like OpenSea make it even simpler as it is just like filling out a form.
A method to evaluate an asset based on its underlying characteristics as an effort towards arriving at an intrinsic v...