It seems our article a few days ago raised almost no interest whatsoever on the complicated subject of NFT's (Non Fungible Tokens - little unique pieces of digital art). Not in the outside world at least...... but here at Cash Geeks HQ, it got us thinking about our next steps in investigating this potential gold mine. Here are some of the questions that our cash geek chums asked as they came to mind.....

How do I mint an NFT?

Good question Serious Geoff.......Minting an NFT involves creating a unique digital asset on a blockchain. Here are the general steps:

1. Create Artwork: First, create or choose the digital art you want to turn into an NFT. It could be an image, animation, music, or any other digital content.

2. Choose a Blockchain: Decide which blockchain you want to mint your NFT on. Ethereum is the most popular choice, but other options include Binance Smart Chain, Flow, and Tezos.

3. Set Up a Wallet: You’ll need a cryptocurrency wallet that supports the chosen blockchain. MetaMask is commonly used for Ethereum. Create an account and fund it with cryptocurrency (usually ETH).

4. Choose a Marketplace: Pick an NFT marketplace where you’ll list your NFT for sale. Examples include OpenSea, Rarible, and Foundation.

5. Mint Your NFT:

   • Connect your wallet to the chosen marketplace.

   • Upload your digital file.

   • Add metadata (title, description, royalties, etc.).

   • Pay the minting fee (usually in ETH).

   • Confirm the transaction.

6. Promote Your NFT: Share your NFT on social media, collaborate with other artists, and engage with the community.

Remember that each platform may have specific instructions, so check their guidelines. Good luck with your NFT journey!

I am rubbish at Art. Can I get A.I. to make and NFT for me?

You are rubbish at Art Mildred? But aren't you the website graphic designer? You can create AI-generated NFTs using various tools and platforms. Here are some options:

1. Midjourney and DALL-E 2: These services specifically cater to NFTs and allow you to create AI-generated art.

2. NightCafe Creator: This app uses machine learning algorithms to create NFT art. You can start with a photo, mix it with a style, or even create NFT art from a text prompt.

3. AI Art Generators: There are several AI art generators that can help you create beautiful artwork quickly. They use AI and machine learning algorithms to generate unique NFTs.

Get googling these websites to investigate (another note to self - worth investigating!?)

So......How much does it normally cost to mint an NFT and who is the cheapest?

Thanks for that question Yorkshire Bloke who never buys a round after work on a Friday and shall remain nameless. Well Dave... here's the answer....

The cost to mint an NFT can vary based on factors like the blockchain and marketplace you choose. Here's a breakdown:

1. Ethereum (OpenSea): Gas fees for minting on Ethereum can range from $0.01 to $1000, depending on network congestion¹. OpenSea, the largest NFT marketplace, recently introduced gas-free minting but charges a 2.5% transaction fee.

2. Polygon (OpenSea): Minting on Polygon (a layer 2 solution for Ethereum) is cheaper due to lower gas fees. OpenSea supports Polygon and allows gas-free minting.

3. Tezos (Rarible): Rarible supports Tezos, where minting costs only $0.5. They offer "lazy minting," allowing buyers to pay gas fees upon purchase.

4. Binance NFT: Binance charges 0.005 BNB (first 10 are free) to mint NFTs. It's future-proof and charges just 1% per transaction.

Remember, fees can vary, so explore different options to find what suits you best! (It will still be too much for Dave to pay)

So there we have it! Our first set of questions. Yet more for us to investigate as we move forward. Meanwhile.... need to go ant play ATLAS EARTH. I have been neglecting it! Check out our review if you don't know what I am talking about!

NFTs: Frequently Unasked Questions?