Besides its faster transaction speeds and cheaper costs, BNB Chain supports Ethereum Virtual Machines (EVM) and smart contracts without burdening the network and reducing throughput – a preferred environment for NFTs.
BNB Chain: Destination for NFT Admirers
Non-fungible Tokens (NFTs) took collectors by storm recently, which led to a wave of new NFT minters. The question for most of these eager artists is: where and how do I mint?
While there are a number of blockchains available when minting NFTs, there are a few that are preferred by minters. Currently, the list of NFT-compatible blockchains includes Ethereum (the original chain), BNB Chain, Solana, Polkadot, Avalanche, and many more.
Unfortunately, gas fees on Ethereum make minting and handling NFTs quite costly. Ethereum also faces network congestion issues that drive transaction fees sometimes to three figures, making many Decentralized Finance (DeFi) projects unfeasible.
As an alternative, BNB Chain provides fast transaction speeds and is much cheaper. Additionally, BNB Chain supports Ethereum Virtual Machine (EVM) and smart contracts abilities without causing network congestion and reducing throughput.
You can find many NFT marketplaces and projects on BNB Chain, giving you a large audience of potential buyers. The network is also home to a vibrant community of artists and people passionate about digital art for many use cases.
“BNB Chain provides NFT collectors and creators a place to build and trade, with a tightly-knit community that deserves attention,” Dehuffski, crypto influencer and founder of NFT Lounge, shared with BSC News. “Growth and transparency is everything here – If you can’t provide that to your audience, then the chances are you will not make it far.”
If you are looking for a place to start your crypto art and digital collectibles journey, BNB Chain might be the right place. Let’s see how one can easily mint NFTs on BNB Chain.
Minting NFTs on BNB Chain
For ease of use, BakerySwap, Treasureland, and AirNFTs provide simple interfaces and cheap fees for minting your NFT on the BNB Chain. Those looking to sell their NFTs after minting can consider BakerySwap, as it offers the largest market for NFTs.
Here we will walk you through a simple step-by-step process to mint NFTs with BakerySwap as we will mint our own. You can choose pictures, GIFs, videos, and audio to turn into NFTs. For your minting fee, store some BNB in a BNB Chain-compatible crypto wallet.
Below are the steps to mint an NFT on BakerySwap:
Head over to the BakerySwap NFT Marketplace and connect your wallet in the upper right corner of the screen.
2. After connecting your wallet, click the ‘Mint Artworks’ button below to create your NFT.
3. A new page will open where you will be required to fill in all the details, as shown below.
4. You can upload your file by clicking the [+] icon below. Additionally, you can see the current minting fee below the anti-plagiarism statement.
5. Before clicking the ‘Mint’ button, ensure you agree with the anti-plagiarism declaration after filling in all the information and uploading your artwork.
6. Once you click on ‘Mint’, you’ll be asked to confirm payment by your wallet.
7. After confirmation, you can view your NFT on the blockchain using BscScan. Now you can transfer and trade your NFT.
It is impossible to predict how many digital creators will be enriched by NFTs as their perceived value rises. However, NFTs are becoming more popular due to their low gas fees and faster transactions on the BNB Chain, and we may see more exciting developments in the future.
What is BNB Chain:
BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain-powered by BNB. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
For more information on BNB Chain, visit these links:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.