FTX, one of the world’s largest cryptocurrency exchanges, offers its users a very interesting feature that makes it stand out of the competence. We are talking about the possibility of depositing and minting non-fungible tokens (NFTs).
The platform currently offers its users the possibility of depositing and mining their own NFTs in a very simple way. So, if you are interested in this, keep reading our short guide on how to deposit and mint NFTs on FTX!
How to Deposit your NFTs
In the first part, we will tell you step by step how you can deposit your own non-fungible tokens on the platform. Firstly, it is important to know that at the moment users have the possibility to deposit both Ethereum and Solana NFTs.
How to Deposit Solana NFTs
1. The very first thing you must do before you start the process of depositing your NFTs is to find your Solana FTX.US NFT deposit address. To do so, visit your NFT Wallet and click ‘Deposit Solana NFTs.’ It is a simple as that.
2. After you do that, you will see a screen featuring your deposit address as well as a warning about the importance of just sending Solana Metaplex NFTs. According to the warning, only this type of NFTs can be sent to this address. Any other NFT will not be deposited correctly and therefore may be lost.
In order to make the process easier, FTX also includes a QR code that can be used to send the NFT to the address without the need to copy and paste the whole address, avoiding any potential mistake that could lead to the loss of the asset.
3. Now, users must copy the address or use the QR code and go to their Solana NFT wallet of choice, click the non-fungible token (NFT) they wish to deposit, click ‘Send’ and type/paste or use the QR code of the wallet address that has been generated in the previous step into the ‘Recipient’s SOL address’ field. After that, they must click ‘Send’ again.
It is important to note that it is necessary to pay a small fee for the transaction to complete, for this reason, you must check whether you have sufficient SOL tokens in your wallet to pay for the transaction fees.
After you have completed the process, your Solana NFT will be successfully deposited in your FTX US NFT Wallet.
How to Deposit Ethereum NFTs
FTX users cannot only deposit Solana NFTs, but also non-fungible tokens based on the Ethereum blockchain. This is how they can do it.
1. This time, users must go to their NFT Wallet and click on ‘Deposit Ethereum NFTs.’
2. After clicking, they will see a new window with a warning message, the deposit address and a QR code. Users can use either the address or the QR code, depending on what they prefer. The window includes a warning about the fact that only ERC-721 NFTs must be sent to this address. Any other type of NFT may be completely loss if sent to this address.
It is important to note that it is necessary to have sufficient ETH to pay for the transaction fees.
After you have completed the process, your Ethereum-based NFT will be successfully deposited in your FTX US NFT Wallet.
How to Mint Your NFTs
In the event you still do not have your own NFTs, FTX will also help you mint your non-fungible tokens following a very straightforward process that will allow you to get your own NFTs in a matter of minutes! How can you do that? Just follow the steps below and become the proud owner of a non-fungible token.
1. The first thing you must do is to visit the NFT homepage, which features all the NFTs that are already listed on the platform.
2. After you have done that, simply click on the MINT button, that will automatically take you to the List NFTs page, where you will find multiple fields you must fill in. In particular, you will have to enter the following information:
- Issuer: Public name for the creator of the NFT.
- Collection: Name for the category of the NFT.
- Name: Name for the batch of NFTs that this NFT belongs to.
- Description: A description of this specific NFT.
- Attribute (Optional): The attribute of your NFT and corresponding value.
After you have filled in all the field, the only thing left is to upload your NFT by selecting the option Choose File.
It is important that before submitting your NFT submission request you read and agree to the FTX US NFT Terms of Service.
Users will have to pay a non-refundable $1 submission fee for minting their NFTs on the platform. Each submission will take about 3 days to be reviewed and approved by FTX’s team. However, please note that not all submissions will be approved. FTX US Reserves the right to moderate the NFTs that are minted on the platform, and may reject any NFT that it deems to violate its Terms of Service.
Note: If you are interested in partnering with FTX US, you can do it. You can contact them if you’re interested in offering your NFTs on the platform. You can also list your own NFTs visiting this link.