OpenSea's recent announcement about supporting Solana NFTs has taken the internet by storm with many investors now finding ways to invest their stake in Solana NFTs.
With this announcement, users will now have an opportunity to explore multiple blockchains on OpenSea including Solana. This is seen as a sustainable and scalable network powering many potential DApps and NFT projects.
Solana also boasts cheaper transactions when compared to Ethereum, which makes it easier for the masses to create and mint NFTs in an uncomplicated manner. Let's take a look at how users can mint Solana NFTs in a simple step-by-step procedure.
How To Mint Solana NFT?
We'll be referring to the SolSea marketplace in the article to assist users in minting NFTs on Solana:
- First, install an SOL-friendly wallet like Phantom and add it into your browser extensions.
- Create an account on Phantom by entering your credentials.
- Deposit a few SOL tokens into your Phantom wallet.
- Create an account on SolSea, and link your Phantom wallet to your SolSea account.
- To begin minting NFTs, go to SolSea's NFT collection option and click on the Create tab to start the process.
- Enter the details of your NFT including details concerning its price, bio, and description.
- Once through, click on Create Collection.
- Upload the file (JPG, audio, video snippets) that you wish to convert into NFTs.
- Add a title and description for the NFT uploaded.
- Click on Mint NFT once you have filled in relevant details. You'll be required to sign the transaction to authenticate it.
How Much Does It Cost To Mint NFTs On Solana?
Minting NFTs on Solana is much cheaper than minting NFTs on Ethereum. The cost of minting Solana NFTs does depend on file sizes, but reflects SOL's gas fees, which are much lower than on the Ethereum network.
In an FAQ, SolSea said: "A 150KB file will be 'cheaper' to mint than a 20MB file, for example." It also linked to an article that stated Solana is 60,000 times cheaper than Ethereum.
Gas fees at 5PM BST on April 5, for example, ranged from 0.000005 to 0.0001 SOL - or $0.00065 to $0.0013.