<a href="https://www.cryptoknowmics.com/news/the-story-behind-yuga-labs-and-apecoin"><span style="font-weight: 400">Yuga Labs</span></a><span style="font-weight: 400">, the company that created the Bored Ape Yacht Club (BAYC), revealed their virtual land sale for the Otherside metaverse on April 30th. It was one of the largest non-fungible token (NFT) mintings ever. The sale of 55,000 pieces of virtual land at the Otherside digital land sale generated approximately $320 million. Over the weekend, the online land sale for this Otherside metaverse took place, and many people bought "Otherdeeds," Ethereum-based NFTs. Demand for the Otherside metaverse deeds drove up Ethereum (ETH) fees, significantly raising the price of ether gas fees.</span>

<span style="font-weight: 400">By the end of the sale, investors bought about 55,000 Otherdeeds, raising nearly $320 million for the project. Yuga Labs, the company that founded the BAYC Collection, wrote about the mint and some network issues that arose after the sale.</span>

<span style="font-weight: 400">"We knew that the size of the Otherdeed mint was a high-demand NFT collection and that this would bring with it unique challenges," the team explained. People believed that a strict gating mechanism with on-chain KYC, a maximum of two mints per KYC'd wallet, and a high clearing price of 305 Apecoin would help them overcome these issues.</span>

<span style="font-weight: 400">However, the on-chain KYC has not deterred people from purchasing virtual land plots, which went on sale on Saturday, April 30th, at 9 p.m. (ET). In addition, Ethereum fees were used to mint some non-fungible tokens. This cost approximately $166,234 worth of Ethereum. The mint was so popular that the Blockchain Explorer Etherscan crashed.</span>

<img class="aligncenter" src="https://azbigmedia.com/wp-content/uploads/2021/10/nft.jpg" alt="The Effect Of The Largest NFT Mint Ever - Creating and Minting NFTs" width="604" height="340" />
<h2><strong>Does It Still Retain That Spot?</strong></h2>
<span style="font-weight: 400">"This was by far the largest NFT mint in history," Yuga Labs said. "The gas used during the mint shows that demand was much higher beyond anyone's imagination." Even Etherscan couldn't handle the size of this mint either. This shows that it is the largest NFT mint ever and has not been replaced.</span>

<span style="font-weight: 400">Those who created BAYC added the following: "We apologize for having to temporarily disable Ethereum. Apecoin will need to move to its Blockchain if it is to grow. We'd like to request that the DAO begin thinking about this option ".</span>

<span style="font-weight: 400">Yuga Labs stated that they were aware that some users were yet to complete their transactions at the time of the virtual land sale, which is why Apecoin must use different technology. "We appreciate your willingness to collaborate with those who have been impacted. We've got your back and will refund your gas." Yuga Labs concluded.</span>
<h2><strong>How to create and mint an NFT?</strong></h2>
<span style="font-weight: 400">There are various methods and tools for creating NFTs. To create your NFT, follow the steps below.</span>
<h3><span style="font-weight: 400">Determine the type of NFT you want to create</span></h3>
<span style="font-weight: 400">The first step is to determine the type of NFT you want to create. It could be a work of art, a ticket to an event, a meme, music, a game, or virtual objects, among other things. You can also create an NFT for a physical item, such as a collectible figurine or a celebrity-signed photograph. Most NFTs consist of an image, video, or audio file in PNG, JPG, MOV, MP4, or another multimedia format.</span>

<span style="font-weight: 400">A simple NFT does not require you to be a programmer. However, you might need a developer for a more complicated NFT, such as a game or a complicated smart contract.</span>

<span style="font-weight: 400">Consider how you can provide value to your audience when creating your first NFT. For example, if you already have a business, you can create a loyalty card or promo code. If this is what you want, you can hire an artist to create an illustration just for you.</span>
<h3><strong>Choosing an NFT Marketplace</strong></h3>
<span style="font-weight: 400">There are different platforms where you can buy NFTs. Each has advantages and disadvantages, so it is important to conduct extensive research before deciding. OpenSea, Rarible, and SolSea are the three most popular platforms.</span>

<span style="font-weight: 400">These platforms make it easier for new creators to enter the world of NFTs that cannot be bought or sold. Others, such as OpenSea and Rarible, provide shortcuts to authentication and writing the NFT to the Blockchain. Sending an NFT without writing it to the Blockchain can eliminate fees and save time.</span>

<span style="font-weight: 400">Fees are one of the most important considerations for newbies. Each market has its own set of fees, depending on how you intend to mint and sell your NFTs. For example, OpenSea may require an initial deposit of up to $100 to open an account.</span>
<h3><strong>Set up a crypto wallet</strong></h3>
<span style="font-weight: 400">The next step is to create a digital wallet to store cryptocurrencies and non-fungible tokens. Check that the wallet you select is compatible with both the Blockchain and the exchange you intend to use to create your NFTs.</span>

<span style="font-weight: 400">The </span><a href="https://metamask.io/"><span style="font-weight: 400">MetaMask wallet</span></a><span style="font-weight: 400">, which can be added to your browser as an extension, is used by most NFT developers. This wallet is easy to use and can connect to most blockchains used to create and trade NFTs. This includes Binance Smart Chain and Ethereum. AlphaWallet, Enjin, and Trust Wallet are three more well-known wallets.</span>

<span style="font-weight: 400">The majority of NFT wallets can work on your browser. As a result, their level of security is determined by the browser application they are using. It is best to purchase a hardware wallet for maximum security, such as the Ledger Nano X. Private keys are stored in hardware wallets for offline management of blockchain assets.</span>
<h3><strong>Buy crypto on an exchange</strong></h3>
<span style="font-weight: 400">The NFT minting fees must be paid with cryptocurrencies after creating a wallet. First, create an account with a reputable cryptocurrency exchange, such as Binance, Kraken, or CoinBase. The procedure is simple enough that it can be completed on a smartphone.</span>

<span style="font-weight: 400">Login to your account and buy the cryptocurrency. To create NFTs, you must first purchase Ethereum or Solana, depending on which Blockchain you intend to use. After that, transfer the cryptocurrency to your wallet.</span>
<h3><strong>Connect your wallet to the NFT platform </strong></h3>
<span style="font-weight: 400">After making your payment, connect to your preferred NFT platform to create your digital asset. For example, if you choose Rarible, select your wallet from the drop-down menu and click the wallet connection button. Then, accept the terms and conditions and connect your wallet to Rarible.</span>

<span style="font-weight: 400">Return to the Rarible homepage and click the "create" button in the upper right corner. Next, choose whether you want to make one or more copies of your NFT. Then, upload the digital file in the form of NFT that you want to mint.</span>

<span style="font-weight: 400">Then, decide how you want to sell the NFT file. You can directly sell an HD version or add content that can only be accessed by visiting a secret download link or website. First, add a title, a description, and the percentage of royalties you want to receive from other people's sales. Then, select the Create option.</span>

<span style="font-weight: 400">To pay for the cost of minting, approve the transaction in your cryptocurrency wallet. Also, double-check the contract's integration and sign the sales order. There you go! Your NFT has been minted.</span>

The Effect Of The Largest NFT Mint Ever - Creating and Minting NFTs

There are different platforms where you can buy NFTs. However, it is important to conduct extensive research before deciding.

Oluwademilade Afolabi is a freelance writer and editor passionate about blockchain technology and the health industry. He is a 6th year medical student, and has worked with various companies and blogs since the blockchain revolution began.

The Effect Of The Largest NFT Mint Ever - Creating and Minting NFTs

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