This article tells you about different types of NFT minting. When someone mints an NFT, it means they are publishing their creation to the blockchain. Basically, it means someone is creating an NFT. Minting can be a very expensive process, so it’s very important to know the process you are using. The type of mint you choose may also depend on your marketing strategy. You may have noticed there are many different mint techniques out there on the internet. However, many just explain the same kind of minting method but use a different title to describe it. We believe in keeping things simple, so we think minting can be broken down into two categories.
Minting via Smart Contract Deployement
Minting via a smart contract gives the creator a lot more flexibility regarding rules of how the collection should be traded. Creating a smart contract requires knowledge of coding using a programming language called solidity. Smart contracts are great for any type of NFT project, but only if the person deploying the contract understands them well. For example, a creator may want to deploy the contract first, then allow people to mint (create) NFTs themselves directly from the smart contract. Alternatively, the creator may want to pre-mint the whole collection, meaning the contract owner will then own all the NFTs in that collection. We decided to carryout the pre-minting strategy for our Seal of Approval collection on Opensea. We created an ERC-721 contract, and minted all 100 the same day the smart contract was deployed. This meant that people could see our whole collection. Then investors could simply buy NFTs directly from us. We liked this technique as we could define strict rules for the contract, such as setting a max limit for the collection. It means we can only mint a max number of 100 for the collection. This helps makes the collection for valuable as we are limiting supply.
Lazy-Minting is when the purchaser creates the NFT, rather than the creator. There are a lot of lazy minted projects on the Opensea marketplace. Did you know that if you just upload an image via the Opensea platform, it is not an NFT. It only becomes an NFT when someone purchases that image during listing. The purchaser will then pay the minting fee. Lazy minting is ideal for people who do not know much about coding smart contracts, and have large collections in the thousands.