Why learn writing directly from smart contracts?
In today’s world there are a lot of improvements and developments for crypto projects. One of the main products that we use today is smart contracts. Smart contracts are what we call those projects on blockchain. So what did they really bring, and why are they so important to learn? Main reason why they are important is that they have provided a chance for people to build stuff in any shape or form they want. This way what we thought impossible became possible via smart contracts.
Why is it so important to learn? Because thanks to Smart Contracts now we can do stuff we couldn’t do before. If you learn how to get into smart contracts and develop something there, then you would be ahead of the curve. Consider a project, it is brand new, and you know how to get it, this puts you ahead of everyone else who looks at that project. Instead of learning how to get it, you would already know how to do it beforehand.
Speed and knowledge are the two most important things in your arsenal when it comes to brand new projects. The ability to write directly from smart contracts would instantly make you better prepared than most other investors.
How to mint NFTs from smart contracts
First you need to get the contract address of the project. There are few ways that you could find this contract address, you can either find it on the projects official pages (website, telegram, twitter, discord etc) or if it is already minted then you can use Opensea to find it;
In order to find the contract address at https://opensea.io you need to go to the marketplace and check the collection. You could check other NFTs in that collection with this method as well. Pick any NFT and you will see a “details” tab, if you click it then see a “contract address” option as well. The tabs are under the NFT, and it will look something like this ;
After you found the contract address, just go to etherscan to start your minting process. There are other places and methods where you can mint, however etherscan makes direct minting on smart contracts as easy as it gets.
Open up the Contract address on Etherscan, and you will see a “contract” tab there, it should have a green check mark next to it to make it easier for you, if it doesn’t have that check mark then it is advised to stay away from that project.
After you open the Contract tab, you will face three options at the top. The one that we need is the Write Contract option, because that one will allow us to mint NFT’s. In order to connect directly with the smart contract, you need to use these functions and etherscan allows you to write it automatically with a few clicks.
When you click the write contract, in order to understand which wallet it should be working with on this action, it will ask you to connect your wallet. Pick the wallet you want the NFT’s to come. Do not forget to pick the right network, because otherwise it may not work or even connect.
After you are connected, all you have to do is scroll down the list below and see where the “mint” option for that NFT collection is. For each contract the ranking will be different, but all of them will have “mint” in their name to explain what the action would do when you click it.
All you have to do after this step is to write what you will pay for the mint fee (check this price before you mint, would be different for each gas fee period and collection) and also how many you want. The “mintNFTname” with “payable amount” in the box is where you write the mint price. Second is how many NFT’s you want to mint. You will have to arrange your mint fee based on how many you want. So if paying 0.1 ETH for 1 NFT then 0.2 ETH for 2 NFT and so forth.
What happens if there are no NFT’s left in a collection?
NFT collections are limited in numbers, most limit this with 10 thousand NFT’s in a single collection. Assuming all of them are minted, and there is none left for you to mint, what happens? This means you will not be able to mint at all, and you will have to either start looking for a new collection that you could mint, or you will have to buy from a market like opensea to own one of the NFT’s in that collection.
Where to sell your NFT’s after you minted them?
There are few marketplaces where you can either buy or sell NFT. In these marketplaces you also get to do market research on what certain NFTs are worth and try to estimate what you should pay to buy one, or for how much you should sell yours.
If you ever mint a new NFT, there is a good chance that the pricing of it will not be settled just yet and you should wait before you end up selling. In that case checking these marketplaces daily to see how many are minted, and what they are going for until all of it is minted would be the ideal method to calculate what your NFT should be worth. Some examples of these marketplaces would be;
The NFT world seems to be taking the crypto investors by storm. It has the most attention from the crypto community. It doesn’t always make sense to many people, however art never really did to everyone. A rare art that will never be replicated originally ever again, with a proof of blockchain to back this claim. It is highly unlikely that we would ever see the art world and crypto world getting as intertwined as NFT.
This means that people who are tired of buying coins and selling coins, ended up purchasing art in crypto form via NFT’s and whole communities decided how much a collection should be worth or not. With some of the NFT’s going as much as millions of dollars, it has proven that there is a future there. Doesn’t mean it will always have this much attention, but certainly looks like it will not be gone one day neither, seems like a possible scenario would be a linger interest forever.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com