Art is only known when people are willing to pay for it. The artwork has gone to the next level with the introduction of Metaverse, Decentraland, and NFTs. The Famous Bored Ape Yacht Club is an example of the same. Well, if you want to earn money with such Bored Ape artwork, then here is a post that will tell you how to mint a Bored Ape NFT.
Bored Ape Yacht Club is a collection of 10,000 avatars that were sold at far-fetched prices. Launched in April last year, Bored Ape Yacht Club’s recent sales turnover was over $1 billion. That is a huge success in less than a year. Many celebrities joined this club and many are on their way.
If you are lucky enough to have purchased this Bored Ape NFT and you are unsure how to earn money in Metaverse from it, then you have clicked on the right link. This post is all about how to mint a Bored Ape NFT.
So, let’s now wait a lot and start with learning how to mint a Bored Ape NFT.
What Is Meant By Minting NFT?
When you purchased your Bored Ape NFT, you were given the rights of NFT. In other words, you are the owner of your NFT. Now it’s your choice whether you want to keep this NFT with you, or you want to modify it or sell it and earn profit. So, we can conclude minting is nothing but selling your NFTs in the marketplace. You can sell your Bored Ape NFT in any Metaverse NFT marketplace. So, before learning as to how to mint a Bored Ape NFT, let’s see a few platforms to mint an NFT. Here is the list of some famous NFT marketplaces:
- Larva Labs
- Theta Drop
To mint an NFT on the Ethereum blockchain, you have to pay gas fees. This gas fee varies from one marketplace to another. You have to keep this thing in mind before you mint your Bored Ape NFT.
For this article, we have chosen the Rarible NFT marketplace to mint your Bored Ape NFT.
Also Read, How To Buy Axie Infinity NFT | In Just 4 Easy Steps
How To Mint Bored Ape NFT On Rarible?
Rarible is one of the largest marketplaces of NFTs. We will be going through different steps to guide you on how to mint a Bored Ape NFT. Read carefully and follow along.
Step 1: Download And Link Wallet.
I think I don’t have to explain to you the importance of Wallets in the NFT marketplace. You must have a crypto wallet. If not, then you can create a digital wallet with MetaMask, a famous crypto wallet.
To pay the gas fees you will need ETHs. So purchase some ETH also and keep them in your wallet.
Install MetaMask as an extension on your browser to sign in to Rarible. To do that follow the steps.
- Go to MetaMask.
- Click on chrome extension
- Add it to the chrome browser.
- Click on add extension.
Also Read, 9 Different Types of NFTs Explained With Examples
Step 2: Mint Your Bored Ape NFT
Now it’s time for minting. Here are the steps.
- Connect to the MetaMask wallet.
- Sign in to your wallet.
- On the top corner, click on create a collectible.
- Here you have two options: Create single – to mint 1 NFT or Create multiple – to mint more than one NFT.
- Choose the collection: Default Rarible contract or Create your own – very costly.
- Upload your Bored Ape. (Supported formats – JPG, PNG, MP4, WEP, or MP3.)
- Give your NFT title. Add a description as well.
- Put it on Sale.
- Select Create item.
- Confirm your wallet.
- Pay the gas fees.
- Wait till verified.
Congratulations! You have minted your Bored Ape NFT successfully. Apart from Bored Apes, you can mint any NFT on this marketplace. The process remains the same. The gas fee of Rarible is a little higher. It’s around 5%.of the final price. 2.5% are charged from both parties.
Also Read, Most Expensive NFTs Ever Sold In NFT Marketplaces And Auction Houses!
What Is Lazy Minting?
This is a new feature of Rarible that was introduced in October 2021 named Lazy Minting. As the gas fees are very high for minting NFTs, to encourage more and more investors, Rarible introduced this new feature. This feature allows users to mint NFTs at zero cost.
Rarible has made some changes in the traditional method of minting NFTs. Traditionally when NFTs were minted their data was stored on blockchain immediately. With this new feature of Lazy minting, NFTs will not be minted at the moment of creation but will be minted only when sold. Now the buyer will be paying the gas fees not the seller. Also, data will be stored on IPFS which is a decentralized peer-to-peer storage system.
Although Bored Apes NFTs are all over social media. It is a good source to earn from minting Bored Apes. However, its quick fame increased the costs tremendously. This led to the increase in gas fees as well. Many people are willing and interested to invest in NFTs, but the high gas fees created a negative image.
Now marketplaces like Rarible are working on different ways to bring down these gas fees to create an environment for new investors. More investors will definitely increase their levels of profit. If you are interested to learn more about NFTs leave a comment below.