With the increase in popularity surrounding blockchain networks, as well as the increase in appeal of non-fungible tokens (NFTs) in the eyes of many creatives and many collectors, there has never been quite a similar time like the present in terms of interest surrounding the procedure of minting NFTs.
Due to the fact that Tezos is one of the quickest and most affordable networks when compared to much of its competition, a lot of creators have gathered interest in minting their NFTs on top of this network.
As such, today, we are going to go over everything you need to know about what Tezos is, what the advantages of mounting NFTs on it are, and how you can do so with ease. Let’s dive in.
- Tezos is an open-source blockchain network that utilizes the Proof-of-Stake (PoS) consensus mechanism.
- It offers peer-to-peer (P2P) transactions through the usage of its native cryptocurrency token, known as XTZ or Tazzie.
- The Tezos blockchain facilitates the building of decentralized applications (dApps) and enables the process of minting non-fungible tokens (NFTs).
- Through NOWNodes, anyone can connect to a Tezos node with ease and get all of the blockchain information that they require.
What is Tezos?
Tezos is essentially a smart contract platform that was specifically developed with unique features in mind, such as enabling on-chain governance. This allows the blockchain to implement changes through automatic means without experiencing a hard fork or ever being split across two cryptocurrencies.
To achieve this efficiently, Tezos uses what is known as a Proof-of-Stake (PoS) consensus mechanism. This allows users to confirm transactions whilst also being rewarded in the native cryptocurrency token by doing so without mining. This leads to lower hardware requirements costs, as well as the less technical experience needed from the side of the nodes that want to power this platform.
Advantages of Creating NFT on Tezos
There are certain advantages that make Tezos as a blockchain network extremely efficient, especially when it comes to the creation of non-fungible tokens (NFTs).
Specifically, due to having the Proof-of-Stake (PoS) consensus mechanism, the network is a lot more energy-efficient and allows for the cheaper creation or minting of NFTs when compared to competing for blockchain networks. Tezos can also enable a lot greater participation from all stakeholders within the community. What this also means is that users can delegate their stake to backers and earn partial rewards.
Then there’s the programmability aspect of Tezos. It enables and even incentivizes developers to take advantage of smart contracts, which means that they can develop decentralized applications (dApps), non-fungible tokens (NFTs), and other decentralized finance (DeFi) use-cases that are not available elsewhere.
Alongside those advantages, there is also the upgradeability aspect. Here, backers can take part in the governance process of the blockchain network by voting on any of the proposed changes showcased in the proposals. This means that over time, minting NFTs could become even cheaper.
With all of this in mind, you might have come to the point in time where you have a genuine curiosity about building your non-fungible tokens (NFTs) and minting them on top of the Tezos blockchain. As such, we are now going to go over each step that you need to take in order to build them.
Guide to creating NFTs on TezosGET ACCESS TO TEZOS
If you want to mint NFTs on top of the Tezos blockchain network, here is what you need to do.
- Step 1: Get a Tezos wallet.
There are numerous Tezos wallet options out there, and it is advisable for you to pick one that is suitable for your needs and one that gives you complete control over your keys. One of the best wallets that you can utilize on Tezos is the Kukai wallet.
- Step 2: Connect to an NFT marketplace on Tezos
The simplest way to create NFTs is to use a dedicated marketplace. If you want to get your NFTs online and up for sale as quickly as possible, you can utilize OBJKT due to the fact that it is one of the largest Tezos marketplaces.
On the top-right corner of the screen, click on “sync” and connect your wallet.
- Step 3: Create the NFT Collection
Before you can create an NFT, you will need to create a collection.
Go to your profile and click on “Create.”
To do this, you will need to upload your logo, then add the name and description, after which you can click on “Create” and confirm the transaction.
- Step 4: Mint the NFT
Then, go back to the profile icon, except this time, you need to create a token.
Here, instead of clicking on the Collection tab, you can click on the Token tab instead.
Here, you need to upload your file, such as your image, then add a title, add a description, and add some tags. Then you need to choose the collection that your token will be a part of. Then, if you want to, you can choose a license for your work.
In the Editions tab, you can select the number of copies that can be minted, which can be between 1 and 10,000.
You can also set the royalty percentage, which can be between 0% and 25%. This refers to the percentage that you want to make on every sale that occurs after the initial one.
Finally, you can click on the “Mint” button.
A pop-up will appear where you need to confirm the operation. Here, you will have detailed information about the gas fee, the storage fee (max), and the option to adjust the storage limit. You will then need to wait for the blockchain confirmation. This would typically take around 5 minutes.
- Step 5: List the NFT for Sale
You need to go to the Actions tab and select the number of editions that you would like to list, as well as the value of each one, after which you need to click on “LIST.”
Again, confirm the transaction from your cryptocurrency wallet, and your NFTs will be listed up for sale on one of the largest NFT marketplaces on Tezos.
Run Nodes Easily with NOWNodesGET ACCESS TO TEZOS
Through the utilization of NOWNodes as a service, you can easily connect to a Tezos (XTZ) node. Navigate to the official NOWNodes website, and all you really have to do is connect with your email and click on ” GET FREE API KEY” in order to get started.
You can easily find the Tezos (XTZ) node here. NOWNodes is a blockchain-as-a-service provider that makes nodes available to you at any point in time and has a 99.95% API uptime, which means that you always have a reliable connection through an RPC connection.
Hopefully, now you have a heightened level of understanding when it comes to what Tezos is, how it works, as well as about some of the advantages of building NFTs on top of Tezos.
By following each step carefully, you will be able to get your NFTs up and available for sale on the Tezos blockchain network in no time.GET ACCESS TO TEZOS