What are the steps for creating NFTs on Solana? Comprehensive 2022 Guide

The world of NFT has recently welcomed a significant competitor to Ethereum, dubbed the Ethereum Killer. Solana is gaining momentum in the decentralized NFT sector, where dApps thrive. Its innovative and appealing solutions are rapidly captivating individuals across the ecosystem. The adaptability of Solana and its potential for explosive growth, especially in the NFT domain, is why so many are eager to learn its principles.

There are many Solana NFT supported marketplaces with fresh projects emerging daily. Solana operates on a unique Proof of History algorithm, similar to how Bitcoin utilizes Proof of Work (PoW) and Ethereum is transitioning to Proof of Stake (PoS). Compared to Ethereum, which suffers from hefty gas fees, Solana emerges as a trendier and more cost-effective alternative. The Solana Program Library (SPL) is akin to Ethereum's ERC-20 and ERC-721 standards for tokens. Let's embark on a step-by-step journey that covers everything from the minting process to viewing your NFTs in your Phantom Wallet.

Why are Solana NFTs so popular?

When Ethereum first launched, it was hailed as the Bitcoin Killer due to the innovative solutions it provided through dApps and smart contracts. Similarly, Solana addresses the challenges presented by the Ethereum Blockchain, such as exorbitant gas fees, interoperability issues, network overload, and the slow transactions per second (TPS) rate. While Solana can handle up to 65,000 transactions per second, , at the fee of just $0.00025 each translation. In contrast, Ethereum can only accommodate 15 to 20 transactions per second, with an average transaction fee soaring to around $30 as of October 2021. When it comes to NFTs, the advantages of Solana become strikingly clear, especially when considering Ethereum's drawbacks. This indicates that sending ETH requires significantly less computational resources compared to minting or transferring NFTs. A key factor is that on the Ethereum Blockchain, interaction with custom smart contracts drives up gas fees, with costs sometimes exceeding $100, which can even surpass the value of the NFT. On the other hand, the average minting cost for NFTs on

Perks of minting NFTs on Solana

Because Ethereum’s auction model leads to congested transaction queues, the minting process can be delayed for several minutes and often results in failure while the user still bears the gas fee. Solana is 0.00002 SOL or $0.015 as of March 2022.

Certain Ethereum-based platforms, like OpenSea, offer gasless NFT minting, but users still encounter various other fees: for creating new accounts, canceling bids, and listing NFTs, among other things. Given all this, if you wish to mint or purchase NFTs without incurring hefty fees, Solana presents an excellent alternative. Let's explore how to create NFTs on Solana.

Why choose Solana over Ethereum?

Understanding the distinction between minting and purchasing in a marketplace

There are primarily two avenues for acquiring NFTs: through primary or secondary marketplaces.

This thrilling and enigmatic process allows you to buy directly from the creator, marking the very first sale of an NFT. This means you become the inaugural owner of a unique digital asset, which is truly fascinating! Generally, the minting of NFT collections requires a predetermined fee and takes place during a set timeframe. However, the element of surprise lies in not knowing the specific characteristics of your NFT until it has been minted.

Minting: primary sales

Your NFT might be an ordinary art piece or perhaps an extraordinary hand-drawn rarity, featuring distinctive traits like red eyes, a gold chain, an animated background, a diamond crown, and more. NFTs are often minted and released in batches, typically containing 5,000 or 10,000 pieces, among which a select few display special traits and intricate designs, elevating their rarity, worth, and desirability among collectors and NFT enthusiasts. For instance, the Degen Ape on Solana

is sought after due to its unique traits and prized characteristics. sold for $1 million Typically, each project has a designated minting platform or website where they announce the date and time ahead of the event. It’s a common tradition that popular, eye-catching collections may sell out in mere minutes or even seconds. Not everyone manages to secure a piece from a limited collection, but if you're aiming for one, exploring the secondary marketplace could be your best bet.

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Many individuals mint with the primary objective of profiting from resales. This demand is precisely why you'll see numerous NFTs surfacing on

Marketplaces: secondary sales

. However, pricing on the secondary marketplace fluctuates based on the rarity and desirability of each collection and NFT's attributes. Digital Eyes , uk , uz uz vi Let's shift our focus to the minting process rather than the marketplace itself. If you're a novice buyer contemplating your first NFT purchase, minting represents a simpler, more straightforward route than navigating the secondary marketplace, which is often laden with complications and the risk of counterfeit NFTs. During minting, you just need to be at the right place and time, hoping that your NFT turns out to be among the rare ones, and voila!

Some notable Solana NFT marketplaces include Solanart, Digital Eyes, Solsea, and Magic Eden. Typically, these platforms feature similar collections, although prices can vary.

How can you keep tabs on new minting events on Solana?

The most reliable and official resource to track fresh releases and minting schedules is

. This platform uniquely curates a streamlined interface for each listed project, providing essential information like minting dates, website links, Discord channels, social media pages, the total number of NFTs in the collection, and, most importantly, the minting cost. http://nftsolana.io There are additional important resources available for monitoring Solana NFTs. Search Search Hack Seasons Join the Discord channels of these NFT marketplaces since official updates, including mint sites, whitelisting rules, and airdrops, are all shared there. You can obtain your Discord

Now that you possess all the vital information to initiate the minting journey, ensure you have some SOL ready in your Solana wallet. Airdrops Calendar .

Phantom serves as a digital wallet tailored for Solana, also compatible with most Solana marketplaces and NFT projects. Think of Phantom as the equivalent of Metamask but for Solana, functioning as a comprehensive browser extension for various Solana dApps. The Phantom wallet features an integrated DEX and a stylish collectibles section where you can display all your Solana NFTs. Additionally, you can swap tokens and stake SOL within the Phantom wallet to earn rewards.

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You can easily add the Phantom wallet extension on Chrome, Edge, and Brave browsers. Click on the Add to Button, and you will be taken to the extension page. Once you agree to the terms and conditions, Phantom will be integrated into your browser. Click on Create a new Wallet.

This is the crucial step for setting up any digital wallet. Be sure to store your seed phrase offline, avoiding any digital devices for security reasons. It’s wise to write it down in multiple locations.

Now you’re all set. Open the Phantom extension.

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At this stage, it’s essential to have some SOL in your Wallet.

Refer to the straightforward tutorials on Phantom's website regarding

Just keep in mind that you only need a minimum of 0.01 SOL to cover a fraction of the minting fee, with a little extra if you intend to list NFTs on a marketplace post-minting. NFT Wiki Metaverse Post New Report

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Double-check the launch time on Discord. It’s typically announced in UTC; make sure to convert it for your local time zone.
Be prepared to join the minting event a bit early; keep refreshing the page.
Once the mint goes live, connect Phantom to the minting platform. Click on 'Connect Wallet' and select Phantom.

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You will need to enter your wallet password. Once logged in successfully, agree and link it to the page.

Provided everything is set up correctly and your connection is established, you will see the Mint button on your screen. If you are on the whitelist, you should have received some tokens in the Discord channel. After paying the mint fee, you can mint the NFTs, and the tokens will be deducted while the newly minted NFTs will appear. The quantity of NFTs you can mint usually varies by project. Some projects permit minting multiple NFTs in one transaction, while others restrict it to just one.

Authorize the wallet verification window, then click on Approve Transaction to initiate the minting process.

Typically, the minting concludes within a matter of seconds.

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There’s no confirmation notification at the end.
Keep your enthusiasm in check and click on the collectibles icon in your Phantom wallet (the second one from the left that features four squares).
The NFT phenomenon is genuine, blending artistry with the community you feel a connection to. NFTs embody the new status symbol of 2022. However, the Ethereum blockchain's hefty gas fees can be prohibitive to smaller investors and collectors. If you're new to the NFT scene and the excitement of Web3, opting for Solana is wise, as its ecosystem is rapidly evolving, with marketplaces expanding at an impressive rate. Stay astute and position yourself in this transformative technological advancement of Web3.

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Danil Myakin

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article for precise information. The world of This guide covers everything from NFTs and their marketplaces to the steps involved in the minting process on the Solana blockchain.