Introduction:
Non-Fungible Tokens (NFTs) are digital assets that are becoming increasingly popular in the world of cryptocurrency. NFTs allow creators to sell unique and one-of-a-kind digital items such as art, music, and other digital assets. While Ethereum and Solana are well-known for hosting NFTs, the Bitcoin blockchain is also capable of hosting NFTs through a process called Inscriptions.
What are Inscriptions?
Inscriptions are digital artifacts that allow you to insert images, audio files, and even software into a Bitcoin transaction. Unlike NFTs found on Ethereum or Solana which only contain a reference pointer to the target file hosted elsewhere, Inscriptions contain the raw file data directly in the Bitcoin blockchain.
Why Mint NFTs on the BTC Blockchain?
The Bitcoin blockchain is the largest and most secure blockchain in the world, which makes it an excellent platform for hosting digital assets. By minting NFTs on the Bitcoin blockchain, you can take advantage of the security and immutability of the network while also creating unique and one-of-a-kind digital assets.
How to Mint NFTs on the BTC Blockchain using Inscriptions:
Download and Install Sparrow Wallet: Go to https://sparrowwallet.com/download/ and download the installer version with .exe. Install the wallet and select the public server as your server. Create or import your BTC wallet. If you are new to BTC, create a 12 or 24-word seed phrase-based wallet. Make a key to access the wallet and create a password to log in to the app.
Deposit BTC in Your Sparrow Wallet: Deposit BTC in your Sparrow wallet, and it is recommended to deposit at least $25.
Open OrdinalsBot Website to Mint: Go to https://ordinalsbot.com/ and upload an image in the "Image" section. If you want to mint an NFT without retaining the resolution, compress the image to less than 10 KB. In the BTC address section, put your Sparrow wallet address.
Pay the Exact BTC Amount: After uploading your image, a popup will appear with an amount based on your image size and network fee. Select the Economy option or the Normal Option (only use Normal Option when you need it quickly). Pay the exact BTC amount shown in the popup.
Wait for the Image to Appear in Sparrow Wallet: Once you pay the exact BTC amount, the image will appear in your Sparrow wallet within 24 hours or earlier if you select higher speed transactions.
Check the NFT in UTXOs Section: In your Sparrow wallet, click on the UTXOs section, and you will see one transaction there.Right-click on the transaction and select "Copy Transaction Output" to copy the transaction ID. You can then paste the TXID into https://ordinals.com/ to check the status of your NFT. If you want to send your NFT to a web-based wallet like https://ordinalswallet.com/, you will need to create a wallet there first. This is a straightforward process, and you can follow the on-screen instructions to set it up.
Send Selected SATS: Click on the transaction and look for the "Send Selected SATS" option at the lower right side of the window. Enter the address of your Ordinals wallet in the "Address" section and put any label in the "Label" section. Make sure you select SATS in the amount section.
Create and Sign the Transaction: After entering the required details, click on "Create Txns." Sign and broadcast the transaction. It may take a few minutes for the transaction to go through.
Check Your Ordinals Wallet: After the transaction is complete, you can see your NFT in the "My Inscriptions" section of your Ordinals wallet.
Well, you've done it! You're now officially a member of the exclusive club of NFT creators. Soon you'll be able to retire on the profits of your newly-minted digital masterpiece...or maybe not. Either way, congratulations on taking the first step towards NFT fame and fortune!