Home Component 5: EdaFace NFT Marketplace How to Transact on NFTs Article
Minting your own NFT is a relatively straightforward process on EdaFace. The following are the simple Ten Steps that you can take to mint your NFT on EdaFace NFT Marketplace:
Step 1: Go through the first three Processes of NFT Production as discussed above. The three Processes are:
• 1st Process: Decide which Blockchain to Use
• 2nd Process: Choose NFT Marketplace, and
• 3rd Process: Create Your NFT.
The Practical Exercise: PE 3.0. Product Data Checklist for NFT Creation on Page xxx summarizes these three Processes. The checklist in Table xxx will help you not to miss any important item as you create your Digital Product.
Step 2: Click on the “Create” button.
Once you have connected your wallet to EdaFace NFT Marketplace, click on the “Create” button to reveal the minting page.
Step 3: Select the NFT minting format.
On the minting page, there are seven formats on EdaFace NFT Marketplace that you can choose from to mint your NFT:
(i). Single Minting
(ii). UniMultiple Minting
(iii). PolyMultiple Image
(iv). PolyMultiple Audios
(v). PolyMultiple Videos
(vi). Layer-by-Layer Minting:
(vii). Lazy Minting
Step 4: Upload Digital Asset
Upload the digital asset that you want to mint as NFT.
For video and audio NFTs, remember to upload the Thumbnail Files as well if you want customized backgrounds.
EdaFace NFT Marketplace allows you to preview the uploaded asset by simply clicking on “Preview” or “View.”
Step 5: Confirm Network Selection
Network refers to the blockchain network you are minting on. Therefore, confirm the blockchain network selection.
Step 6: Fill in NFT Details
Fill in the nine details of the NFT you want to mint, which include:
(a). Name
Note that the Name shouldn’t be too long, but something short and memorable for your targeted audience.
(b). Brief description.
Brief Description refers to what you want your NFT to be remembered for or associated with, e.g. it can be a description of why you created and minted the NFT.
EdaFace NFT Marketplace does not restrict the length of the description. However, the industry standard is that the description should be less than thirty-five (35) words.
(c). Create a Collection Folder
EdaFace NFT Marketplace is designed in such a way you can collect all your NFTs in one folder. You do this by clicking on “Select Collection.”
(d). Category
Select the category of NFT you want to mint. There are three NFT categories – Art, Collectible, and Gaming, which correspond to the three arenas of EdaFace NFT Marketplace. Thus, an Art NFT will be displayed on Art Arena, etc.
Note that each NFT has a sub-category. Choose the correct category and subcategory for your NFT.
(e). Royalty
Decide how much you should charge for royalty. For upcoming creators, as a promotion tactic, you may want to keep your royalty fee at 0%; meaning no royalty charges as an advertisement strategy.
(f). Lazy Minting
Confirm if you are Lazy Minting or not.
(g). NFT Quantity
Type in the number of copies of the NFT you want to mint.
Note the Following:
• For Single Minting, you can only mint one per time.
• For Layer by Layer Minting, the number of copies you want to mint depends on the number of layers you upload.
You can know the number of layers you will need to upload to obtain a certain number of NFT copies by checking it up using the enclosed Measuring Rule, titled:
(h). Whitelist Users
This refers to whether you want some specific wallets to be pre-approved to acquire your NFTs. You can insert these wallets at the specified places.
(i). Website and Social Media Links
For advertisement purposes, you may choose to link your NFT to your website, social media platforms, portfolio link, etc., by typing in the links here.
Step 7: Decide on Listing
When minting an NFT, you may choose one of the two options that are available for the display of the NFT:
(a). You may choose to leave the NFT in your portfolio account in which case only you will be able to see the NFT. If you choose this, you can later still display your NFT on the arena.
(b). You may choose to display the NFT at once, possibly for sale, on one of the three arenas of the EdaFace NFT Marketplace. If you choose this, you can later decide to withdraw your NFT from the arena.
If you want to put on sale the minted NFT by displaying it on the arena of EdaFace NFT Marketplace for potential buyers to see, then enable “List NFT.”
Once you’ve enabled List NFT, three Sale Options will be revealed. You will need to choose one of the three Sale Options for the sale of your NFT. These three Sale Options are:
(i). Fixed Price:
This means you will only receive one price offer from buyers.
(ii). Timed Auction
This means you will receive from buyers different bid price offers (“Bid Offers” for short).
Note the following three things about a Bid Offer:
• a Bid Offer is valid at or above the Minimum Bid price set by the NFT seller, which in this case is the creator
• a Bid Offer is valid within a specified time frame set by the NFT seller, which in this case is the creator
• The highest Bid Offer after the auction ends is the winning bid.
Thus, if you choose the Time Auction sale, you’ll also have to set the start price (Minimum Bid) and expiration deadline. For more information, click: “Learn more about how Timed Auctions work.”
(iii). Unlimited Auction
This means there is no Minimum Bid and no Specified Duration for the auction to take place. As the Seller of the NFT, you can start the auction with any bid price and end it at any time you so desire.
Step 8: Check the agreement boxes
EdaFace fights against any form of scams including plagiarism. Therefore, read through the Terms and Conditions, and if you accept them, check the appropriate boxes with the following statements.
" I declare that this is an original work. I understand that no plagiarism is allowed and that the asset can be removed anytime if detected."
" I have read and agree to all the NFT Terms & Conditions and all legal requirements of EDA."
Step 9: Create Item
When you have filled in all the parameters and accept the Terms and Conditions, click on “Create Item.”
Once you have done so, a page will pop out for you to click on 2 or 3 different buttons as follows:
• Create NFT
This will authenticate the connected wallet as the owner of the uploaded Digital Product using the wallet’s Private Key while at the same triggering blockchain smart contracts to add more unique identifiers to the Digital Product, making it a unique, verifiable product.
• IPFS Upload
IPFS refers to the InterPlanetary File System, and it is where your NFT file will be stored for easy access. By clicking on this button, you will be uploading the meta contents of your NFT to IPFS.
Step 10: Mint NFT
This is one of the buttons that will be revealed once you start Step 9. The minting button allows you to mint the uploaded Digital Product as NFT cards on the selected blockchain.
Congratulations on minting your NFT.
Please Note:
(a). To view your minted NFT, click on “My Items” in your EdaFace account. “My Items” is accessible once your wallet is connected; you can access it by clicking on the wallet icon at the top right to see “My Items.”
(b). If you have selected List NFT, you can go to EdaFace NFT Marketplace arena – Art, Collectible, or Gaming arena, depending on which category you have selected in Step 6(d) above – to view your minted NFT displayed for sale.
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