How to stamp an NFT on Solana SolSea?
The allure of non-fungible tokens (NFTs) has grown in popularity recently, and for good reason. Non-fungible tokens are a new form of asset that can represent anything from digital art to game objects and are stored on the blockchain ledger. This means that NFTs are unique, immutable and transparent.
People collect NFTs for a variety of reasons, including art appreciation, value speculation, and as part of playing games like Decentraland or Cryptokitties that are based on blockchain technology.
There are many possible reasons why NFTs have become popular, and different people will have different reasons for investing in them. Ethereum has become the go-to network for creating these tokens, with the ERC-721 token standard being the most common in the space. However, this led to severe network congestion, large fees and slow transaction processing times. Consequently, other blockchains have started to offer their own solutions for NFTs.
One such solution is the Solana blockchain, which provides high throughput that can process thousands of transactions per second. Solana launched its own NFT standard, called SolSea, which enables quick and easy creation of NFTs. This guide shows you how to make NFTs on Solana – more specifically on SolSea, the network’s largest NFT marketplace.
What is NFT minting and how does it work?
NFT minting refers to the process of converting any kind of digital data into a blockchain-based virtual collectible. Almost any digital file can be converted into a token — MP3, WAV, GIF, JPEG, etc. The digital products or files will be kept in a distributed ledger or decentralized database and cannot be changed, updated or deleted.
The process of adding an element to the blockchain is known as coining. It is similar to how a coin is made in real life. So how long does it take to create an NFT? It is difficult to give an exact number because it depends on the intricacy of the file and the speed of the blockchain network. Nevertheless, most NFT platforms, tools and NFT marketplaces simplify the process of NFT generation.
How does NFT minting work? Minting an NFT usually begins with the creator choosing a marketplace or platform on which they will create their NFTs. In this post, let’s look at how you can make an NFT on Solana SolSea.
How to make NFTs on Solana SolSea?
Before we dive into how to make NFTs on Solana, let’s quickly review what Solana SolSea is. Solana SolSea is a decentralized open market for non-fungible tokens that is less expensive, faster and more user-friendly than established markets such as OpenSea. It is more attractive to non-fungible token creators due to its low cost, fast transaction times and user-friendly interface.
SolSea NFTs are significantly less expensive to create compared to Ethereum-based NFTs since they do not incur the high transaction fees on the Ethereum blockchain.
Guide to Embossing a SolSea NFT: Step by Step
Install Phantom
Phantom is a custody-free cryptocurrency wallet and browser extension. It is often referred to as the MetaMask of Solana due to its similar features and functionality. Go to Phantom.app and download and install it as an extension for your preferred browser.
Create a new wallet
After installation, the Phantom icon will appear at the top right of the extension button. Click the icon and follow the instructions to create a new wallet. The icon redirects the user to a new page to continue the wallet creation process.
The user is given a secret recovery phrase that can be used to restore their Phantom account if they need to reinstall it on another device. If this phrase is lost or mistyped, the wallet cannot be recovered and the user may lose their funds, making this step the most important part of creating the wallet. As a result, it is crucial to keep a recovery phrase in a safe and secure place. Phantom will be added to the browser upon completion. It can be accessed by clicking on the Phantom logo in the menu bar.
Funding the wallet
In order to create NFTs, you must first acquire Solana (SOL), the original cryptocurrency of the Solana blockchain. There are two primary methods of achieving SOL:
- Play other cryptocurrencies like Bitcoin (BTC) or Ether (ETH) in a validator to earn SOL rewards.
- Use an exchange that supports SOL trading pairs to buy SOL with other cryptocurrencies.
Once the wallet is funded, the embossing process on Solana can begin.
Create a new account on SolSea
The next step is to create an account on SolSea by connecting your wallet to the SolSea platform. Click on the “Connect Wallet” option at the top right and select Phantom from the drop-down menu.
A message will appear on the screen asking if it is okay for Phantom to connect to the wallet. If approved, SolSea will be able to access the funds held in the wallet and all activity related to it and request permission to authorize transactions.
After connecting, users will be redirected to SolSea’s login page. They must enter a valid email address on this page and create a strong password. Users must agree to SolSea’s Terms of Service and Privacy Policy before proceeding.
After the account agreement, SolSea sends an email to confirm the new SolSea account. The wallet is connected to the SolSea platform automatically after completion. Now it’s time to mint your NFT using the process below!
Create an NFT collection
- Basically, all NFTs must be created in a collection. Go to the “Create” tab and click Collection to create a new collection.
- Choose a title and provide a description of the collection.
- Upload both the header image and the icon.
- Add social media accounts and websites (if any). This is important for engagement and marketing purposes.
- When you’re ready, click “Create Collection” and sign the transactions to stamp the collection. If you see a message saying your coin transaction failed, don’t worry! It’s probably just an error on SolSea’s side. Please be patient and the transaction will hopefully go through in good time.
To be sure if the coin was successful, go to your wallet and see the SOL transaction history. If the press transaction is listed, it means that the NFT collection was created! After the transaction is confirmed, go to Wallet and select My Collection.
Emboss a SolSea NFT
Follow the steps below to create a SolSea NFT:
- After creating an NFT collection, go back to the Create page and this time select “NFT”.
- From there, you upload the image, video or audio file you want to create as an NFT. Be sure to read the requirements for each file type before uploading to avoid problems. The accepted file formats include MP4, MOV, 3GP, JPEG and PNG for videos and images.
- Enter a title and description for the NFT.
- Determine the royalty payments. This is the percentage the creator will earn each time the NFT is resold on the secondary market. The percentage range is from 0% to 50% and can be adjusted based on the owner’s strategy.
The following sections are optional, but can be completed, such as a link to the artwork’s page on another website – if available – so people can learn more about the work. It is crucial to choose the correct codes as they will be used in searches.
SolSea is also the first NFT marketplace to embed licenses on NFTs. These licenses ensure that the original creator is always credited and that they receive royalties from future sales, regardless of where the NFT changes ownership.
Before embossing, please confirm that all information is accurate. After an NFT is minted, its attributes cannot be revised. Then, after pressing “Mint”, sign the transaction on Solana to complete the minting process. Congratulations, now check out your newly minted NFT by clicking “View Your Coin.”
The new NFT will automatically be added to the Phantom wallet, which you can see next to the $ icon. Once it is listed on SolSea, it will no longer be visible in the wallet.
The next step is to list the NFT.
- Just go to Wallet and select “NFTs In My Wallet” from the drop down menu.
- Click on “List NFT” and select a price.
- When you’re done, go back to My Wallet and explore the newly listed NFT.
Finally, it’s time to market NFT.
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