CUTOUT FEST
(c) Copyright 2021 CutOut Fest,
All Rights Reserved
LEGAL
QUICK GUIDE TO MINT AN NFT
Once you have created your profile, you will be able to create NFTs through CutOut Fest.com.
Remember that you must have your MetaMask wallet set up.
To get started, let’s go over some basics:
NFTs (“Non-Fungible Tokens”) are tokens with a unique ID that represent a certificate of ownership hosted in a transaction on some blockchain, which is considered a unique good or asset, in the digital art world. They can be sold at auctions for collectors to bid or buy.
Minting an NFT is how your piece of digital art acquires representativeness on the Ethereum blockchain, a publicly accessible interplanetary machine that hosts a ledger, public as well, that cannot be changed or tampered with. Similar to the way metal coins are minted and brought to circulation, NFTs are also tokens that are “minted” once they are created. Your digital work is represented as an NFT so that it can then be purchased and traded in the marketplace and digitally tracked as it is resold in the future.
How do I mint an NFT? >>
As a first step, you must have a MetaMask wallet with ETH.
For more information on how MetaMask works click here.
For more information on wallets set up: Ethereum/Wallets, 3 Ways to Set Up an Ethereum Wallet.
The NFTs you mint in CutOut Fest will be linked directly to your wallet, under the ERC 721 standard and you will be able to make your transactions only from our collection. You are in control and will be the only one able to manage your funds. Before you start, you will need to make sure you have ETH (the cryptocurrency used for all Ethereum transactions) and the wallet set up. Keep in mind that all transactions you make on the Ethereum network have a cost called Gas, which can go up or down significantly depending on the day and time; and whose price has no direct relation to the fact that the value of ETH goes up or down. Luckily, there are platforms like gas.watch that monitor the price of gas and let you know when it is lower so you can make your mint at that time.
CONNECT YOUR WALLET TO CUTOUT FEST >>
1. First of all, make sure you have the MetaMask extension installed on your computer. If you do, the MetaMask icon should appear in your browser bar. If you have installed it but it does not appear, click on the Extensions icon (a puzzle piece icon located in your navigation bar), go to MetaMask, click on the three little dots and select “Pin”.
2. Go to cutoutfest.com and click “Register Now”.
3. Connect your wallet to log in.
4. Once your wallet is connected, your CutOut Fest profile will be activated and from there you will be able to add your personal info, an image, and links to your social media. The goal is to show your personality and give potential collectors a better idea of who you are.
5. When you are done completing your profile, save the changes and exit the platform.
6. Wait 8 hours. After that time, log back in.
7. You will see the “MINT ARTWORK” button visible on your dashboard, click it and fill in the fields on the form.
HOW DO I CREATE AN NFT AND WHAT ARE THE TECHNICAL SPECIFICATIONS? >>
– Start the NFT minting process by clicking on the “Mint Artwork” button.
– There you can choose between uploading different file types, the most common being JPG, PNG, GLB, OBJ, PDF, HTML, MP4, MOV.
– Upload your artwork (it should not exceed 50 MB). For still images, a width of ~ 3000px is
ideal. For video, 1080p or 4K is best.
Once you have uploaded your artwork, your files will be automatically sent to the IPFS (InterPlanetary File System). What does this mean?
CutOut Fest is a non-custodial platform, which means that we do not store your artwork or your funds on a centralized server. Instead, all artwork is hosted on IPFS, a peer-to-peer hypermedia protocol designed for decentralized data sharing.
When you upload a piece of artwork, a canonical version is assigned to the token that lives on the blockchain and cannot be touched or altered. Then, the file itself is hosted on IPFS to ensure that it too will live forever.
Add a title and description: be sure to include information about yourself, your background, and any other interesting details. Collectors want to learn as much as possible about you, and your artwork. Double-check your information before signing your NFT, because once you mint it you will not be able to make any changes.
Mint your NFT: confirm that the file, the image, the title, and the description are correct. Once you are ready, click on the “Create NFT” button.
Sign your NFT: your wallet will ask you to “sign” the transaction. When you sign your artwork, you will forever link the NFT to your unique Ethereum address and wallet, allowing collectors to verify that the artwork is yours and ensure that you are always listed as the artist receiving royalty payments.
Approve the gas fee: a gas fee must be approved in your wallet to complete the minting. Gas fees are the cost of interacting with the Ethereum blockchain, they are not fees created or charged by CutOut Fest. As mentioned above, we recommend that you monitor the price of gas at gas.watch, so that you mint your work when it is most convenient.
Wait until your NFT is minted: once you have signed your NFT and paid the gas fee, the minting process begins. While you wait, our smart contract runs a code to integrate your work into the Ethereum blockchain. If you want to see the status of the minting process, click “View in Etherscan” and get an estimate of how long it will take to complete.
Avoid double minting: while waiting for your transaction to complete, we strongly recommend that you do not attempt to mint the same NFT again or click the “Mint NFT” button multiple times. Be patient while your NFT is being minted. Ethereum transactions are processed in the order they are received and your wallet will have a backup of transactions waiting to be confirmed if you send multiple transactions.
Minting completed: once the transaction has been confirmed you will be able to see your minted NFT on your Dashboard.
Congratulations! You just minted your first NFT with CutOut Fest!
CUTOUT FEST
(c) Copyright 2021 CutOut Fest,
All Rights Reserved
LEGAL
