Ultimate NFT Philippines Guide | How to Mint NFT Art | Top NFT Marketplaces

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What the F is NFT?

A non-fungible token (NFT) is a unique token that is utilized to represent various types of digital assets like artworks, game items, skins, music, videos, books, etc that are verified on a blockchain. The contents of the NFTs are usually stored in a decentralized data storage platform.

Original article by Evan Ezquer, updated by BitPinas writers.

Learn NFTs with BitPinas!

  1. What is NFT?
  2. NFT Philippines Guide – Top NFT Marketplaces
  3. Myths about NFTs
  4. 5 Use Cases of NFTs
  5. How to Flip NFTs
  6. NFT Red Flags to Avoid
  7. Six Proven Tips to Build Successful NFT Communities in the Philippines
  8. What are NFT Mystery Boxes
  9. Traditional Companies Building in the Metaverse
  10. How to Use MetaMask

FAQ about NFT Art

  1. Can I Upload My Selfie as NFT
  2. How to get paid as an NFT Whitelist Grinder
    1. Concerns About NFT Whitelist Grinding
  3. Most Important Skill in NFT
  4. Does NFT hurt small time artists
  5. How to avoid NFT artists Exploitation
  6. How to set Commission
  7. How to Market Your NFT in the Long Run
  8. How Important is Pricing in NFTs?
  9. How to create an NFT collection (10000 pieces)
  10. How to Make Your Own NFTs
  11. How to Turn Your Art into NFTs
  12. Where to Create, Buy, and Sell NFTs For Cheap Gas Fees

How to Mint NFT Art

  1. How to mint, buy, and sell on Opensea
  2. How to Mint, Buy, and Sell on Hen
  3. How to Mint, Buy,and Sell on Rarible
  4. How to Mint, Buy and Sell NFTs on Magic Eden
  5. How to Mint, Buy, and Sell NFTs on Paras
  6. How to Mint, Buy and Sell NFTs on CNFT.io

Non-fungibility

NFTs are distinguishable from fungible cryptocurrencies and conventional currencies since they are not interchangeable with one another. For example, users can’t buy or sell one contract to a different one since the “original content” varies from each other.

In the crypto world, 1 Crypto Punk is not the same as any of the other Crypto Punks in existence.

Fungibility

In contrast, “fungibility” allows a token or currency to be indistinguishable from one another and have the same value. For example, 1 BTC is always equal to BTC in the same way a 1 peso coin is always equal to all other 1 peso coins.

What types of NFTs are there?

NFTs can be just about anything, but there are a few categories that stand out at present.

  1. Collectibles The NFT space first started to take off with the launch of Cryptokitties, which consist of digital cat collectibles that can be bred and traded on the blockchain. This is why collectibles are the most basic use cases of NFTs. They are akin to baseball cards or Commemorative Coins, which are regarded as being of value since people are willing to pay a certain price to collect them.
  2. Digital art — Digital art is currently the most popular type of NFT right now, with some pieces selling for several millions. Beeple’s Everydays sold for a whopping $69 million. Digital art may come in the form of scanned hand drawings or computer-generated virtual illustrations.
  3. Virtual real estate You’ve surely heard of Facebook’s rebrand into Meta, which is in line with the company’s new vision to create a metaverse. You can think of a metaverse as an extension of our own universe that exists in cyberspace. Interestingly, you can already buy plots of land, buildings, boats, yachts, spaceships, and all other assets in a metaverse in the form of NFTs.
  4. In-game items and characters — The new play-to-earn sector is cashing in on NFTs by incorporating non-fungible elements to their games, from skins to equipment, to heroes, to monsters, the list goes on.

How to get started with NFTs?

The first move in anyone’s NFT journey is to create a web3 wallet necessary for the purchase, trade, and sale of digital assets. The wallet enables users to securely interact with various NFT marketplaces. 

Note that you need different kinds of wallets for different networks. For example, Magic Eden only supports Solana-based wallets like Phantom and Solflare while OpenSea only supports Ethereum wallets like MetaMask.

Ethereum

The vast majority of NFT projects are on OpenSea, which supports only Ethereum and Polygon. Luckily, the most universal wallet, MetaMask, runs on Ethereum. 

MetaMask is a Chrome extension web3 wallet that allows you to seamlessly interact with NFT marketplaces. First, you need to download and install it on your browser. Then you can create a wallet. Make sure to secure the provided seed phrase as you’ll need that to access your assets in case of loss. (Read More: How to Use MetaMask: A Guide for Filipinos)

Solana

Solana currently has a booming ecosystem of NFT projects, kind of like Ethereum in early 2021. Now’s a good time to get into it. Not to mention the fees are ultra-low, which makes it affordable to buy NFTs on a budget. The two most popular Solana wallets are currently Phantom Wallet and Solflare.

Tezos

Tezos is probably one of the most underrated blockchains. While the quantity of NFT projects launching on Tezos pales in comparison to ETH and SOL, it is the second most popular platform for individual and independent artists. Of course, Ethereum is still number one. If you want to dabble in Tezos NFTs, the Temple wallet is the most popular option.

Cardano

Cardano also has its fair share of NFTs, despite its recent launch of smart contracts. Nami Wallet is currently the most suitable Cardano-based digital wallet for NFTs. However, Yoroi and Daedalus wallets can also work, although they don’t have the capability to view NFTs within the app.

How to mint your own NFTs

Minting NFT refers to converting a digital file into a crypto token that is stored on a blockchain, giving you exclusive ownership and access to it.

Earlier, we talked about setting up your wallet. Make sure that your MetaMask is ready as you will need that to create an account in an NFT marketplace in order to mint. Now, let’s explore how you can mint your own NFTs. 

OpenSea is the most popular platform for minting NFTs, so we’ll use that as an example. You need to head over to its website and click the hamburger icon on the top-right side. This should prompt a sidebar, where you can find a “Connect wallet” button in blue. Click it.

You will then be asked to select from all supported wallets. Choose MetaMask or whatever wallet you have. And now your account is done. You may edit your profile as you see fit.

Before you can mint, be sure to top up your MetaMask wallet with some ETH, preferably worth over $100.

To start minting, go over to your profile and click “Create”, which will take you to the NFT creation page. You’ll need to fill out the details like the name, description, links to your website or social media account, etc. After filling out the initial fields, you can add further customizations, such as adding properties, stats, unlockable content, etc.

Once the minting is done, click “Create” and voila, you just minted your very first NFT.

Flipping NFTs

Flipping refers to purchasing items at low prices and selling them later for a profit. 

While some might take the art of flipping lightly, it takes careful research and a good eye to spot undervalued NFTs, especially today when the market is getting too saturated. You need to be able to gauge whether an NFT project has the potential to flourish in the future, and you need to be able to determine which pieces are rare.

The more skilled you are at sniping undervalued NFT listings, the more money you can make. However, you also have to be very careful as you could end up with a loss as NFTs are not nearly as liquid as cryptocurrencies, nor do they guarantee value appreciation or future returns.

Top 5 NFT Marketplaces to Buy NFTs

Here are the different marketplaces to buy or sell NFTs. 

OpenSea

With over 140,000 unique wallet addresses conducting transactions in 30 days, OpenSea is the leading and most extensive marketplace, offering all existing categories of NFTs from in-game items to virtual land, to domain names. It has various types of auction processes that give users the freedom to sell their NFTs as they please.

OpenSea primarily supports Ethereum, Polygon, and Klaytn networks.

Rarible

Rarible is another Ethereum-focused NFT marketplace run by a decentralized autonomous organization (DAO) consisting of RARI holders. Rarible offers the so-called lazy minting, enabling users to list their NFTs without spending gas until their item is sold. 

Magic Eden 

Magic Eden is the hottest new marketplace for Solana-based NFTs such as Degen Ape Academy and Thugbirdz. Ethereum users usually find Solana-powered NFT marketplaces to be quite reassuring since the fees are almost non-existent, which allows them to list and mint as they please.

Hic Et Nunc (HEN) 

HEN is home to a vibrant community of art aficionados, probably more than any NFT marketplace today. In fact, the ratio of artworks from independent artists to NFT projects is highest on HEN. The marketplace has attracted some of the best digital artists in the world, even those who don’t know much about crypto.

HEN runs on Tezos, therefore, you need the Temple or Kukai wallet to transact in it.

CNFT 

CNFT is currently the most popular NFT marketplace powered by Cardano. Cardano smart contracts are fairly new, hence, the website may be buggy at times. Unfortunately, there are few other marketplaces that run on Cardano.

This article is published on BitPinas: NFT Philippines Guide | How to Mint NFT Art | Top NFT Marketplaces Right Now

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[…] This text is revealed on BitPinas: NFT Philippines Guide | How to Mint NFT Art | Top NFT Marketplaces Right Now […]

[…] This article is published on BitPinas: NFT Philippines Guide | How to Mint NFT Art | Top NFT Marketplaces Right Now […]

[…] Przewodnik NFT Filipiny | Jak wybijać grafikę NFT | Najlepsze rynki NFT w tej chwili bitpinas.com26 grudnia, […]

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[…] We could attribute that massive sales figure to the fact that NFT marketplaces are accessible to everyone around the world. Anyone can buy and sell a digital masterpiece through a smartphone, allowing them to collect masterpieces from talented artists who are a world away. Digital artists can benefit the most since their product requires no shipping.  (Read More: NFT Philippines Guide | How to Mint NFT Art | Top NFT Marketplaces Right Now) […]

[…] We could attribute that massive sales figure to the fact that NFT marketplaces are accessible to everyone around the world. Anyone can buy and sell a digital masterpiece through a smartphone, allowing them to collect masterpieces from talented artists who are a world away. Digital artists can benefit the most since their product requires no shipping.  (Read More: NFT Philippines Guide | How to Mint NFT Art | Top NFT Marketplaces Right Now) […]

[…] We could attribute that massive sales figure to the fact that NFT marketplaces are accessible to everyone around the world. Anyone can buy and sell a digital masterpiece through a smartphone, allowing them to collect masterpieces from talented artists who are a world away. Digital artists can benefit the most since their product requires no shipping.  (Read More: NFT Philippines Guide | How to Mint NFT Art | Top NFT Marketplaces Right Now) […]

[…] the NFT space but was not lucky enough to get any sales from his digital art pieces until he joined Hicetnunc in March. “And I haven’t stopped making cryptoart […]

[…] the NFT space but was not lucky enough to get any sales from his digital art pieces until he joined Hicetnunc in March. “And I haven’t stopped making cryptoart […]

[…] was not fortunate sufficient to get any gross sales from his digital artwork items till he joined Hicetnunc in March. “And I haven’t stopped making cryptoart […]

[…] NFT’s are not just selfies. Digital artists also upload digital photography and art (both static dynamic artwork is welcome) on platforms like OpenSea, Rarible, and objkt.com. Musicians and solo artists are selling their albums through a blockchain-based streaming platform called Audius. Even spoken poetries is sold online. Virtual real estates and blockchain NFT games are part of the group, too! […]

[…] NFT’s are not just selfies. Digital artists also upload digital photography and art (both static dynamic artwork is welcome) on platforms like OpenSea, Rarible, and objkt.com. Musicians and solo artists are selling their albums through a blockchain-based streaming platform called Audius. Even spoken poetries is sold online. Virtual real estates and blockchain NFT games are part of the group, too! […]

[…] NFT’s are not just selfies. Digital artists also upload digital photography and art (both static dynamic artwork is welcome) on platforms like OpenSea, Rarible, and objkt.com. Musicians and solo artists are selling their albums through a blockchain-based streaming platform called Audius. Even spoken poetries is sold online. Virtual real estates and blockchain NFT games are part of the group, too! […]

[…] NFT’s are not just selfies. Digital artists also upload digital photography and art (both static dynamic artwork is welcome) on platforms like OpenSea, Rarible, and objkt.com. Musicians and solo artists are selling their albums through a blockchain-based streaming platform called Audius. Even spoken poetries is sold online. Virtual real estates and blockchain NFT games are part of the group, too! […]

[…] NFT’s are not just selfies. Digital artists additionally add digital pictures and artwork (each static dynamic art work is welcome) on platforms like OpenSea, Rarible, and objkt.com. Musicians and solo artists are promoting their albums by way of a blockchain-based streaming platform referred to as Audius. Even spoken poetries is bought on-line. Digital actual estates and blockchain NFT video games are a part of the group, too! […]

[…] Ark of Desires partnered with Pol Medina Jr. to have his life’s work reworked into NFTs. Many of the NFTs are e-book covers of Pugad Baboy and a few of Pol’s art work. The proceeds of the sale will assist small enterprise institutions that have been affected by the pandemic. The general public minting will likely be launched on March 21st of this 12 months. Other than the NFT, NFT holders will obtain a replica of the most recent e-book, Pugad Baboy 32, and presumably copies of Pol’s authentic art work. (Learn: Beginners Guide to NFTs) […]

[…] Ark of Dreams partnered with Pol Medina Jr. to have his life’s work transformed into NFTs. Most of the NFTs are book covers of Pugad Baboy and some of Pol’s artwork. The proceeds of the sale will aid small business establishments that were affected by the pandemic. The public minting will be launched on March 21st of this year. Aside from the NFT, NFT holders will receive a copy of the latest book, Pugad Baboy 32, and possibly copies of Pol’s original artwork. (Read: Beginners Guide to NFTs) […]

[…] Ark of Dreams partnered with Pol Medina Jr. to have his life’s work transformed into NFTs. Most of the NFTs are book covers of Pugad Baboy and some of Pol’s artwork. The proceeds of the sale will aid small business establishments that were affected by the pandemic. The public minting will be launched on March 21st of this year. Aside from the NFT, NFT holders will receive a copy of the latest book, Pugad Baboy 32, and possibly copies of Pol’s original artwork. (Read: Beginners Guide to NFTs) […]