But the question remains: where do you start? Today, we’re walking you through everything you need to know about minting your first NFT and building your collection.

What is an NFT?

First let’s define what we’re talking about: An NFT (non-fungible token) is a digital token that exists on the blockchain in a format that makes it unique from other digital tokens. Each NFT is unique and completely different from any other token. Unlike most, each one has its own history, its own attributes, and its own relationships with other entities on their respective blockchains.

NFTs can be expressed as unique, non-copyable tokens that exist on Ethereum’s blockchain. This means that they are one of the first functional digital assets on it; they represent a particular unit of value and have their own source code that can be used to create new NFTs, trade them, and do other things with them.

NFTs can also exist outside of Ethereum and on other blockchains. You can read more about what that means in our original article which walks through the creation of an NFT on a Bitcoin-based blockchain.

What are the Benefits?

There are plenty of great benefits to creating and managing your personal collection of NFTs. First and foremost, we love seeing the ways people use their collections to support causes they believe in while earning crypto at the same time. Second, you can use them to create a gift that’s uniquely yours, which increases the likelihood that they’ll be used and appreciated. Finally, they are a great way to start earning crypto and fiat currency.

How to Mint Your First NFT

Now that you know what they are and why they’re great, let’s go over the steps of actually minting them. By now, you may be asking yourself what we mean by “minting” an NFT, and that’s a valid question. When creating an NFT, you’re basically creating an instance of a unique, non-copyable digital asset.

The process for creating these instances varies slightly depending on the resource you are using to mint, but the general process is simple:

Step 1: Decide on Your Concept

Before you start the process, you will need to think about what exactly your NFTs will be. Identifying your idea can be a challenging part of the process, but it’s worth taking the time to figure it out.

Your first step is to think about what you want to represent with your collection. Some people choose to represent their favorite sports team, while others are using their NFTs to support charities or causes they care about. Still, others use them as a form of self-expression or even just for fun. The options are unlimited and depend on how creative you want your collection to be.

Step 2: Pick a Platform

Be sure to make sure you use the proper platform for the steps ahead. If you’re using an Ethereum-based platform, like MetaMask, you will need to make sure your wallet address is compatible with the NFT platform of choice.

Step 3: Connect and Build a Communit

Before you start selling your NFTs, you want to immerse yourself in the community to gain traction. This way, when you offer your NFTs for sale, other users will recognize your attention to detail and the dedication you put into each token.

Once you’ve proven yourself in the community, it’s time for the hard work to begin.

Step 4: Create Your Artwor

Now that you’re established, it’s time to start getting creative. Whether you decide to hire someone to create the artwork for you, or you decide to do it yourself, make sure it’s a labor of love. NFT collectors value uniqueness so make sure you pour as much of yourself into it as possible.

Step 5: Mint It

Now that your artwork’s ready, it’s time to mint it on the platform of your choice. Each platform has a different process for minting NFTs so make sure you thoroughly research the requirements and fees associated with minting NFTs on the platform you choose.

The Takeaway

There are plenty of reasons to start creating your own NFTs, so get started today! Whether you decide to make unique tokens for your sports team, create artwork for an upcoming concert or rally, or just want to support a cause you believe in, it’s never too early (or too late) to start. Happy minting and we’ll see you in the next article.

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For the first 90 days of ApeCoin’s existence, anyone who held some combination of NFTs from the Bored Ape Yacht Club and its two spin-off collections, the Mutant Ape Yacht Club and the Bored Ape Kennel Club, can claim a certain amount of APE from ApeCoin’s website.

But what is an “ApeCoin”?

According to the ApeCoin’s official website, the token is, “a decentralised protocol layer for community-led initiatives that drive culture forward into the metaverse”. ApeCoin, or APE, is an ERC-20 token built using the Ethereum frameworks which aims to decentralise power to the APE currency owning community. For each Bored Ape Yacht Club NFT bought, owners are entitled to 10,094 APE. That’s around $150,000 at today’s prices – about half of the price of a Bored Ape NFT.

What does owning an ApeCoin let you do?

ApeCoin is a product of ApeCoin DAO, a new organisational unit governed entirely by token holders. Holding APE makes you an automatic member of the DOA (decentralised autonomous organisation), an online collective centred around crypto with owning a Bored Ape NFT being non-essential to join the collective. All APE holders are automatically members of the ApeCoin DOA, which makes proposals to the community, for the community, which token holders can then vote on.

There is also a separate organisation called Ape Foundation subcommittee which serves as ApeCoin DAO’s “board” as they oversee certain proposals. Additionally, there is Ape Foundation which handles the day-to-day DAO administration, proposal management and “other tasks that ensure the DAO community’s ideas have the support they need to become a reality.”

ApeCoins were additionally created for the benefit of “initial contributors” to the Bored Ape Yacht Club NFT collection with 38% of ApeCoin set aside for their use and ownership only. Yuga Labs is getting 150 million APE, 10 million of which (“or equal value”) will go to the Jane Goodall Legacy Foundation. The Jane Goodall Legacy Foundation benefits through the creation of ApeCoins in contributions to aid with the support and conservation efforts for real-life jungle primates. 140 million APE goes to “the companies and people that helped make this project a reality” – an as yet unnamed group that most likely includes members of the Yuga Labs team. And 80 million APE goes to the founders of Yuga Labs. All these coins are “locked” for the first 12 months, so holders can’t just cash out and tank the price.

ApeCoin currently exists as a means of speculation and “governance” for the DAO, however there is talk of ApeCoin being the first step in the development of a whole new ecosystem, powered by APE. APE is enhancing and shaping the development of Web3 and online communities, something I think we will see a lot more of in the next few stages of crypto development.

To learn more about ApeCoin, the online marketplace and all things NFT related, visit Fracas Digital

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