In this episode, we talk about the process of Minting. If you want to start to research and invest in NFTs, minting is an important process to understand.

MENTIONED IN THIS EPISODE
CryptoPunks – https://cryptopunks.app/cryptopunks/forsale
BAYC – https://boredapeyachtclub.com/#/
World of Women – https://worldofwomen.art/
Veefriends – https://veefriends.com/
Open Sea – https://opensea.io/
Rarity – https://rarity.tools/upcoming
Discord – https://discord.com/

We hope you enjoyed the show and it helped you to gain more clarity and give you lots of ideas as to how you can use NFTs for your business.

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IMPORTANT NOTICE
This podcast is for entertainment and education purposes only. We do not give any investment or financial advice and we strongly recommend you always DO YOUR OWN RESEARCH.

Show Transcript

Cheryl00:03

Welcome to Women of the Metaverse. I am Cheryl Laidlaw

Angela00:07

I am Angela Harkness. We have been and are still on a journey to discover the Metaverse with 3.0 NFTs and anything that we are required to know to join this world. Swells

Cheryl00:21

from this podcast. We will help you to unlock how the manifest is going to impact your.

Your business and even your personal life.

Angela00:30

Join us as we take the mystery out of this new digital universe.

Welcome to Women of the Metaverse. In this episode, we are talking about minting. What does it mean to min an nft and why you should consider it. Okay, Cheryl, the big question, what is mint? Right. So

Cheryl00:55

when you min an nft, you are buying it straight from the artist. So you’re essentially buy buying it. Minting means buying.

I can describe Minting as bringing the NFT alive on the

Angela01:10

blockchain. I love this explanation. This is really good.

Cheryl01:14

Good, isn’t it? Yeah. So minting is the first opportunity to buy the nf. If you miss out on the mint, you’ll have to purchase the NFT on PLA platforms such as open sea or rarity. It’s important to know that when you mint an nft, you don’t get a choice of which one you receive, so you could end up with an NFT priced in it’s million.

There are a few massive bonuses about minting and nft. Not only will it be cheaper to purchase, but you will continue to make money if you decide to sell it on, if the project is successful. So will your bank balance be, But how do we mint an nft? Angela,

Angela01:59

I explain that as a minute, but it’s important to say that, um, if you look at some of the big collections, like, well, crypto punk.

You minted, they gave them away for free, so you didn’t even need to buy them. You could just claim your crypto punk and mint it. Yeah. Um, and ones like, um, Board Ape Yacht Club and World of Women were so incredibly cheap to, to Mint, but they like $80. Oh God. Something. I don’t even wanna look cuz it just, It just makes you sad, but also sometimes it’s you, you need to get yourself on a mint list, don’t you?

It’s like a white list. Um, to to, to get on the list to say yes. But popular collections, yes. They would say, you know, you can’t just,

Cheryl02:52

you can’t just rock up and mint one of the pieces. Once, once they once gain popular reality. It’s,

Angela02:57

it’s quite d difficult. Yes. Yeah. I think even if, isn’t it Gary Chu? Either his second or third leave friends.

Um, release. You already had to have brought one to be on the list.

Cheryl03:09

You can’t get on the list. You haven’t, you haven’t got, unless you have AV friends already.

Angela03:15

Yeah. So in order to mint an nft, what you will need is a wallet. And we talk about this in episode 10 and it’s important to know that in order to enter the Web three World, you will need a wallet for everything you.

Whether that’s entering the Metaverse or apps, or storing cryptocurrency, or buying NFTs or any other digital asset, you will need a wallet. In order to mint an nft, you need to know what project to invest in first. You can do this by going to rarity and clicking on the upcoming tab. Here you will see a list of NFT projects and the date available to Min.

But how do you know what NFT project is gonna be successful? And it’s quite a good site. Rare, um, rarity, isn’t it? Like you see all the NFTs and pick which ones you like. Yeah, I quite like going on there. It’s, see what’s going out. It’s basic

Cheryl04:13

looking as well. So do check it out cuz it is in its infancy still.

I mean, we’re in 2022, uh, people still are very unsure of. We three years and let alone the lingo that’s attached to it.

Angela04:26

Yeah. And what’s gonna be, what’s gonna be successful and what’s not because you, you know, there are ways to do this, which Cheryl’s gonna go into a bit, but it’s interesting to see the different collections and how they’re being released.

And it tells you what price they’re gonna min at, and, you know, It’s interesting to have a look and have a go. Yeah, definitely go and

Cheryl04:47

check it out. But in short, you don’t really know what’s gonna be successful. You need to do your own research, and that’s where Twitter and Discord come in now. Twitter needs no introduction.

It’s massively back in fashion since an FT project started launching in 2017 and 18. Yeah, DISC score. On the other hand is very new, and it’s a free communications app that lets you share video, text, chat with friends in communities. Discord is popular because it’s a decentralized environment that doesn’t offer advertising and makes it impossible to plaster targeted ads.

Angela05:27

Also on Discord, a lot of the time you won’t get put onto the mint list if you are not on their Discord server. A lot of them, that’s where you get the real information about a. A collection being released. Yeah.

Cheryl05:42

Yeah, definitely. So what do you need to look out for to seek out a good NFT project? Angela?

Angela05:50

Okay. Popularity. The first thing to look for is popularity. How have they already built a community? I think we talked about this particularly for Board eight Yacht Club, where they had really focused on building their community. And the same with world of. When they first released, they, they sold out overnight because they’d taken the time to build their community before they even talked about the collection.

So yeah, that popularity, how, you know, what work have they done up front? Social presence is important. Social media presence is so crucial. The founders should have their own accounts on the sites. They’re promoting their project, and they should have at least 250 followers on each site. Community. I can’t tell you how many times we’ve talked about community.

It’s so massive In this environment. Community growth is something that can be measured. See how many people are on their DISD server and how active they are. We can go into more details on another episode on how to source a good NFT project, but I hope this helps you get started. So, Cheryl, why is now a good time to talk about Mint?

Cheryl07:07

If you haven’t heard already, NFTs are coming to Instagram, which means you’ll be able to min an NFT straight into the app. Instagram is rolling out a feature that lets users share their NFTs and connect their crypto wallet. Mark Zuckerberg also stated in his recent meta update that NFTs would soon be coming to Facebook and other meta apps too.

So understanding the lingo for web three is important. It will soon be second nature, but until it is, Angela and I will be here in your ears, helping you on your Web three

Angela07:43

journey. We hope you enjoyed this episode. Join us next week as we continue our journey into this new digital world. Bye for now. Bye.

Thank you for listening to this episode of Women of the Metaverse. You

Cheryl08:01

can find all information, links and people we talked about in the show notes on our website.

Angela08:07

If you have enjoyed this podcast, please comment and subscribe.

Cheryl08:12

Join us again in the next episode as we continue this exciting metaverse journey.