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What exactly does it mean to "mint" an NFT. An inquiry about minting
Main Post:
Hi,
I'm a beginner in the field and I'm finding it really difficult to look up technical explanations to terms revolving around eth dev online. This is why I'm posting my question here, if such questions are unwelcome on this sub please let me know and I will remove it.
My question has to do with minting. The way I understand it, every action you broadcast to the ETH blockchain needs to be verified and appended to it in a process called minting. This makes perfect sense to me, yet I begin to get confused when I see the way the term minting is used online.
For example, with the term "whitelisting". It is said that whitelisting gives early supporters the opportunity to "mint" the nft before public launch. What does this mean actually? Are the said supporters actually get the opportunity to mint your nft smart contract to the blockchain and get paid the gasfees? Or does it just mean that they get to buy the nft first, if so then why is the term minting used?
Do you need to mint both deployment of smart contracts and purchase transactions to the blockchain? Is this why to "mint" an nft can mean both? Is the term used to describe the party that initiates the request for a transaction to be minted and not the party that does the actual minting?
I apologize if this is a lot, I've just been unable to wrap my head around this concept for a long time, I'd really appreciate some answers and perhaps directions towards good educational material on the matter.
Thanks in advance.
Top Comment: “Minting” an NFT is, in more simple terms, uniquely publishing your token on the blockchain to make it purchasable. Easiest method of minting NFT is: 1- Create your crypto wallet on Coinbase or meta mask 2- Connect it with any NFT market place like opensea.io 3- Make sure you have some amount of ETH or Polygon in your wallet 4- Select any suitable block chain Eth or Polygon and click on mint NFT to list your first NFT for sale, also than you can market your NFT on different platforms like social media or NFT calendars like nftrelease.app to increase its visibility.
Inside Blueshift #3: Smart Minting System
Main Post:
Blueshift is a portfolio-based decentralised exchange (DEX) on the Milkomeda Algorand A1 Rollup.
"Inside Blueshift" posts will inform the Algorand community of all the benefits they get from the new DEX. In particular, we will learn about Smart Minting System - innovation that will significantly boost the incentives to support the Blueshift platform via staking and liquidity providing.impermanent losses.
Smart Minting System
The main idea was to do the new minting strategy in such a way that it produces much more BLUES — but only releases a great portion of it when very ambitious TVL adoption goals are achieved.
These goals are:
- $ 200 million Total Value Locked
- $ 500 million Total Value Locked
To achieve these goals, we have developed the following smart minting system:
- We increase the minting speed of $BLUES tokens to 2 $BLUES per Block
- We add $BLUES tokens selectively as “anchor” tokens to portfolios to keep them in balance
and...
3) We connect staking rewards with TVL goals (Total Value Locked), which in turn — provides further stability to the $BLUES token and its price.
In total, the smart minting system will provide a huge increase in staking and farming rewards.
High rewards are attractive! To earn:
Some users will buy BLUES for staking in the yield pools -> buying $BLUES leads the price increase
Other users will provide liquidity and stake LP tokens to the farms -> providing liquidity leads to protocol TVL.
As a result BLUES price will grow and backed by BLUES “anchor token” liquidity that will grow proportionally to protocol TVL.When protocol TVL goal is achieved the BLUES price will already have been backed with sufficient $BLUES TVL amount in every portfolio.
That means that when all accumulated rewards will become available for harvesting, even if all the amount will be sold at the same time there will be no significant price impact because the amount will be not big in comparison to TVL amount reached.
Try the advantages of Blueshift DEX by yourself. Stake and earn: https://app.blueshift.fi
Part one: Liquidity Portfolios Part two: Virtual Pairs
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XEN Bulk(Batch) mass minting in a single click (2 versions)
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There are 2 tools to mint XEN in batches
1.) Through a smart contractContract can be viewed on block explorer/github. There is another tool(cointool), but their contract is NOT verified, so you have no idea what you are interacting with and they could rug&steal your coins upon mint. Allegedly Dodeca was backdoored by their service.
https://decentralizeX.io/XEN-batch.php
Basically how it works, upon calling it creates XX amount of contracts and claims from XEN contract. Once claim matures, you call again and XEN is minted and sent to the owner of the contract(your address upon creation).
You can do like 80 wallets at once before you reach gas limit. Wallets are reusable(can claim again after minting). Could add non-reusable wallets which would cost slightly less gas if that is desirable.
Contract: XEN-mass-claim/README.md at main · decentralizeX/XEN-mass-claim (github.com)
It's fee-free if you use directly through contract(which is always available). Public front-end calls function that uses optional fee
It's fairly simple, though it was made quickly so someone should verify it is 100% safe to use
2.) By generating walletsXEN Batch Mass Minting Service on Ethereum (decentralizex.io)https://www.youtube.com/watch?v=85aJHr1gTys
How it works: it creates wallets in your browser through etherjs. Then you mass send tokens to newly created wallets(which will be used for claiming, minting and transferring).Then you click Claim and the program will automatically loop through all the addresses and sign the transactions with generated private keys.There is a skinned version(where it's easy to verify no backdoor), but it's yet to be fixed
Once eligible, you do the same for minting and sending the tokens to a singular address.
you can use it fee-free if you use your own multisender.
First method is more convenient(you pay gas time of claim/mint). with second method you have to estimate gas, and the gas might vary at time of mint.First method probably requires slightly more gas though(you create the contract on-chain which costs gas), versus creating them in your browser which is free.
Top Comment:
Tried doing the batch minting, after failed attempt to connect my Metamask, it doesn't allow me to connect to mint. Another person actually confirmed minting process but it didn't go through, just a white page where nothing happened. He closed the tabs and tried again but now has the same problem I do, not being able to connect wallet. Any suggestions?
Cardano NFT – Ultimate Guide To Finding And Minting ADA NFTs
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Cardano NFTs, or ADA NFTs, are non-fungible tokens on the Cardano blockchain. Their low entry barrier makes them the perfect choice for learning how non-fungible tokens work.
Getting started with ADA NFTsis easy. However, you might get lost in the never-ending world of information on the internet. Let us simplify things for you.
First, you need a wallet to store your non-fungible tokens. You can keep as many as possible. Nevertheless, you need to acquire them before storage.
That is where a Cardano NFT marketplace and minting platforms like NFT.Maker.IO come into play. You can either mint directly with the latter or go to a trading platform like CNFT to purchase one.
You can also search for a new project to follow and mint on launch day. Most of these ADA NFT projects give away allowlist spots that you have to win. As you’d expect, some NFT projects pull a lot of common scams.
As such, finding the right project is important so you don’t fall prey. There are different tools that can help you find good projects. But DYOR is always advisable before apeing into any Cardano NFT project.
Top Comment: Occult Archives season two WEREWOLVES minting now! ... Reddit Inc © 2023.
How do you feel about Trump stopping minting of the penny? : AskALiberal
Main Post: How do you feel about Trump stopping minting of the penny? : AskALiberal
Seeking help. Question for minting from contract.
Main Post: Seeking help. Question for minting from contract.
Top Comment:
Seems like a classic function signature. It could be literally anything. Need more info about it to help you, like the actual body of the function.
Minting Xen Crypto is getting more DIFFICULT, EXPENSIVE AND VALUABLE
Main Post: Minting Xen Crypto is getting more DIFFICULT, EXPENSIVE AND VALUABLE
Top Comment: 973 members in the xencrypto community. XEN aims to become a community building crypto asset that connects like minded people together. Fair Crypto ...
F-assets
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Will you guys be minting ALL of ur assets on the flare network when it becomes available? Also, for the ones minting ur assets, do you guys just have XRP or others like DOGE, XLM, LTC, etc?
Top Comment: What a great idea, I can't wait to mint all my assets into IOU's on a brand new network and yet unproven in terms of safety timewise. It's the future. /S
What Happens When the U.S. Stops Minting Cents?
Main Post: What Happens When the U.S. Stops Minting Cents?