Mint an NFT
Follow these steps to create and mint an NFT. Have a go. Enjoy the adventure.
Marketplaces let you know which wallets will connect to them.
It takes a little while to get used to the idea that most decentralized marketplaces won’t ‘talk’ to you until you connect your wallet. This is because the wallet is your identity. It is how they recognize you. They have no other information on you. When you disconnect, you are gone!
Many decentralized marketplaces don’t expect you to create an account. Your wallet is your account.
Some marketplaces will only allow you to connect to one wallet.
Some decentralized marketplaces expect you to open an account as an extra layer of protection, although they only want basic login information.
You still deal straight to and from your wallet.
Blockchains charge per transaction. If there are lots of transactions, then two things happen. Firstly, the time to process can be very slow. Secondly, the more transactions, the higher the processing price, which is known as ‘gas’.
Ethereum blockchain processes approximately 34 transactions per second (TPS) while Algorand processes about 1,300 TPS and Solana processes about 50,000 TPS.
A centralized marketplace makes the trade on your behalf, holds the NFT in custody for you, and also keeps the private keys to your account. You must go through a full verification process (KYC) so that they know it is you before you can operate an account. Then you login to your account to trade NFTs.
It is a good idea to set a time limit to the amount of time your wallet can be connected to a website without any activity on your part. Find the lock setting in the wallet.