Cheap NFT minting and selling is easier than you think.

Blockchains and Crypto can be difficult to understand, but if you’ve been investing in crypto currencies or reading up about blockchains lately, it’s likely you’ve heard of Solana. Solana distinguishes itself apart from other chains with it’s ability to handle many transactions per second (much higher than Bitcoin and Ethereum combined). This ability to offer many transactions per second overcomes the major historic bottleneck of the crypto industry – How to compete with VISA and Mastercard’s ability to handle just the sheer number of transactions necessary for end point purchases.

Solana also offers much lower fees to mint NFTs than other blockchains. This means you can get your ‘feet wet’ with minting your own NFT at a much lower cost than if you went through one of the major exchanges like OpenSea to do it. Those major NFT exchanges usually run on the Ethereum network which is infamous for very large ‘gas fees’ for NFTs.

What do you need in order to mint your own NFT? Well, the main thing you need is a worthy piece of art – A picture file or video clip which folks will want to own for their NFT collection. If you’ve got that, the rest is pretty easy, but I suggest you follow the step by step process below exactly so you don’t miss any steps.

Minting an NFT requires a few things:

  1. Acquiring a long term/permanent host for your file. – We will use Arweave to do this.
  2. A Solana Wallet – We will use Phantom for this.
  3. A place to host your Solana NFT store – We will use Holoplex for this.
  4. A small balance of crypto to start (a bit of SOL and a bit of AR, to be specific).

It sounds like a lot going on, but all we need to do is assemble the tools and put them to use!

  1. To start, let’s prepare some crypto currency to send to our wallet.

Step By Step Instructions

  1. Getting Crypto Currency (if you already have Solana in a wallet, you can skip this step – but you might want to look into these exchanges below in case one of them is a better fit for you) To start, let’s prepare some crypto currency to send to our wallet – Even just $10 or so is enough to get you started! Here are some of the quickest, easiest ways to get started trading crypto:
    • Cash App – You may already have Cash App, and all you need to do is buy about $10 worth of bitcoin and move it to an exchange where you can convert it to Solana. If you aren’t signed up for Cash App yet, you can get $5 free just for signing up and using referral code “CHGVCKP“. The best thing about using Cash App is you can buy bitcoin and instantly transfer it out. This makes it the quickest way I’ve found to convert USD fiat to crypto when you are just getting started.
      • Sign up, link an account, and add some cash so you have at least $10 balance.
      • Click on the Bitcoin icon on the lower right of the app.
      • Click ‘Buy’ and choose an amount of $10 or more.
      • Click the ‘Mail’ button (send) to send your crypto to an exchange (like FTX, Binance, Pionex, Coinbase, etc).
    • FTX – This is one of the better exchanges, and it offers 8% APR just for doing nothing (Just use referral code “EIGHT” when you register and you’ll earn 8% APY on USD, Bitcoin, Solana, or any currency you have in there, just letting it sit! You also get a free crypto coin for every $10 or higher transaction you do. Just download FTX, send money via ACH (unfortunately you’ll need to wait some time for your transfer to clear) – Buy at least $10 worth of SOL.
    • Coinbase – One of the first and best crypto exchanges available to folks in the USA. In fact, if you sign up and buy or sell $100 worth of crypto, you’ll get $10 worth of bitcoin free (and you can use that to mint your first NFT!) Once you link your bank account and add funds, buy at least $10 worth of SOL.
    • Pionex – This is my most used exchange, mostly because it has built in trading bots that allow you to automatically buy low and sell high as volatile crypto coins fluctuate. It also has an extremely low risk arbitrage bot that earns APY around 30-50% for the average coin.
    • Crypto.com – The great benefit of this one is that right now they are offering FREE incoming transfers using a Debit card. Most of the time when you choose a card vs. a bank account, you will be paying around 3% in fees, but you won’t have that issue when you start here. Still, you may need to wait
  2. Moving SOL into the Phantom wallet. Phantom is the most popular wallet for SOL, and it integrates seemlessly with Holoplex which will come very much in handy when you mint your first NFT on the Solana network! Open your Chrome browser, go to https://phantom.app and click “Add to Chrome” and complete the instructions to get your wallet. MAKE SURE YOU WRITE DOWN YOUR PASS CODE and store it in a safe physical location in case you ever need to restore your wallet. Click on that cute ghost looking extension and choose ‘Receive’ and choose ‘Solana.’ You’ll get an address you can copy or a QR code you can use with whichever exchange you chose. Withdraw SOL from your exchange and make sure you choose to send it on the Solana network using the correct address! Do not use my QR code (unless you just feel generous – That is just an example of what it will look like.
Deposit SOL into your Phantom wallet.

3. Getting AR into Arconnect wallet. This step may seem redundant – Why do I need yet another crypto wallet? Well, you’ll see in the next step where we bring it all together. Go to https://arconnect.io/ and click Download for Chrome and follow the instructions to enable it. Again – MAKE SURE YOU WRITE DOWN YOUR PASS CODE and store it in a safe physical location in case you ever need to restore your wallet.

You need a little AR token to actually upload your NFT file for permanent storage. If you are outside the US, it should be easy to buy AR, but if you don’t have a way of getting it in US and you want to get started minting your first NFT with Holoplex – Go to the Holoplex discord server and they’ll usually be able to send you a small amount to get you started! Look for the “arweave-token-drop” channel and request in the same way previous users did – You should get a small amount of free AR deposited into your wallet!

4. Use Holaplex to launch your own custom NFT store. Now that you have Phantom and Arconnect set up in chrome, you are ready to build your own NFT store and mint your first NFT! This next step only takes about 5 minutes – Go to https://builder.holaplex.com/ and select ‘Create Store’ – Authenticate for both wallets. Choose the look of your store, add a store logo, and update to save the changes. You now have your very own store at [yourstorename].holoplex.com – You can redirect to this site from your own custom domain if you have one. Now go to https://yoursubdomain.holaplex.com/admin#/artworks and click on “Create” and you’ll see the option for which type of NFT you’d like to create.

5. Create your first auction. Now that your item is created, click on ‘Sell’ and set the parameters you want. For example, how long do you want your auction to run, what % creator royalties do you want for future sales of the NFT, etc. Now just launch your sale and you are done!

6. Did it work? Let us know about your drop! Tell us about your drop and we’ll add it to our Solana NFT calendar to promote it for you for free!