Both retail and institutional investors consider crypto collectibles as viable financial assets. Traders have bought a whopping 242,443 digital collectibles worth $234.11 million in the last 30 days as per the NonFungible database. Hence, it is a perfect time for entrepreneurs to launch an NFT minting platform. They can attract a huge number of artists, cartoonists, celebrities, designers, filmmakers, photographers, publishers, and software developers.
How does an NFT minting software work?
Artists and content creators register on the NFT minting platform.
They sync their social media accounts (Facebook, Instagram, Spotify, and Twitter). Later, they set up a digital wallet on the NFT minting software.
Sellers of artwork have to create a unique password or a private key.
They can connect their software wallet and deposit some Ethereum (ETH) into it. This is used for paying commission for the sale of the NFT and gas fees.
Later, artists upload their work through JPEG, MP3, MP4, and PNG files.
Sellers should add details like a short description, price of their crypto collectible, royalty percentage, and the title for the asset.
Content creators will pay the required gas fee. Generally, smart contracts list the artwork on the Ethereum blockchain network.
Moreover, artists can check the status of the minting via Etherscan (the blockchain explorer of Ethereum).
The transactions in ETH will be executed soon.
Finally, the NFT is successfully minted and is displayed on the artist’s profile.
They can open an auction and sell it for a high price in the market.
Wrapping Up
Above all, there are 976,048 crypto collectibles in the world according to Coinranking. Hence, entrepreneurs can be successful by getting hold of high-end NFT minting software. Contact an app development company now and witness breathtaking trading volume soon.
