Non-Fungible Token, better known as NFT, have successfully grabbed our attention over the last few years, although not new to the market. Wondering where you can learn more about them? This article will tell you all you need to know about NFTs and their platforms.
What Exactly is an NFT?
An NFT, also known as a Non-Fungible Token, is a digital data unit. It is not interchangeable and represents a variety of assets like music, video, art, etc. They are stored on a blockchain and are therefore authentic. They were first up into the market in 2014, and they have carved a niche for themselves in the hearts of users, spending more than $174 million on NFTs since the last quarter of 2017.
NFT Platforms: The Top 5
NFT, has become so popular in recent years, which has led to the obvious rise in NFT platforms. These platforms ensure that all users can carry out transactions smoothly and receive returns.
CryptoPunks was developed by Larva Labs and has, in store for its users, about 10000 NFT characters. They are based on Ethereum and are all unique. A few of these characters are quite rare and are worth millions of dollars.
How to Mint NFTs on CryptoPunks:
To mint an NFT on CryptoPunks, you can start by selecting the digital file (a painting, music, or a video). Keep your Ethereum at hand since most NFTs on CryptoPunks are Ethereum-based. Select a marketplace to put up your NFT for sale. You’ve successfully minted your NFT on CryptoPunks.
Rarible is another popular website where users can auction off as well as create digital artworks better known as NFTs. The platform was developed by Alexei Falin alongside Alexander Salnikov from Russia quite recently in the year 2020. Rarible has introduced several programs for its users including one that rewards all users who trade on the platform.
How to Mint NFTs on Rarible:
In order to mint NFTs on Rarible, you will first have to create an account on Metamask Wallet and connect the wallet to your Rarible account. Next, you will have to create a collectible. You can then choose a contract from Rarible itself before minting your NFT or create your own (which might charge some extra fees). Once you have uploaded your NFT and confirmed the transaction, you will have successfully minted your NFT on Rarible.
How to Mint NFTs on OpenSea:
To begin with, you will need to create an account on the platform and link your crypto wallet to it. Next, you will have to create your collection by visiting My Collections section. After having added it, your artwork will be on display. You can choose to sell your NFT by pressing the Sell button.
Portion happens to be one of the most transparent platforms for trading in NFTs. Founded in the year 2016, Portion aims to revolutionize the NFT marketplace with the help of its drag and drop platform.
How to Mint NFTs on Portion:
To begin with, you will have to connect your Ethereum wallet to your Portion account where you can create and sell your artwork. Revenue generated from the sale of your NFT will be automatically transferred to your wallet.
Developed in the year 2018, KnownOrigin is popular for its collection of cheaper NFTs. Those who are looking for cheaper alternatives should definitely opt for this platform.
How to Mint NFTs on KnownOrigin:
Minting NFTs on KnownOrigin is comparatively easy. After opening a new minting portal, all you have to do is upload your artwork and agree to the terms and conditions provided by them before making the transaction. You’ve successfully minted your NFT.
NFTs have surely etched their names in the hearts of users worldwide. What are you waiting for now that you know all about the top 5 Non-Fungible Token platforms? Create your account and start trading today!