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A Complete Guide: How to Mint NFT on Etherscan

Searching for a guide on how to use NFT on Etherscan? Look no further.

NFTs have gained immense popularity, representing one-of-a-kind digital assets on Ethereum. Minting an NFT involves creating a special token for artwork, music, or collectibles.

In this guide, we will walk you through the process of minting an NFT on Etherscan, one of the most popular block explorers on the Ethereum network.

Before we dive into the specifics of minting an NFT on Etherscan, its important to understand the basic process of creating and minting NFTs.

First, at a high level, minting an NFT involves three key components:

Smart contracts are self-executing contracts, with the terms of the agreement between buyer and seller being directly written into lines of code.

In the context of NFTs, a smart contract defines the rules and properties of your NFT, including its name, symbol, and other metadata. Once you have created your smart contract, you can then define the details of your NFT, such as its image, description, and other attributes. Finally, you can mint your unique token, which creates a record of ownership on the Ethereum blockchain.

Before you can begin minting an NFT on Etherscan, you must set up a Metamask wallet and connect to the Web3 network. Metamask is a popular Ethereum wallet that allows you to store and manage digital assets and interact with decentralized applications (dApps) on the Ethereum network.

To get started, visit the Metamask website. Then download the wallet for your preferred browser. Once you have installed the wallet, you can then connect to the Web3 network by clicking on the Connect to Web3 button in the wallet interface. This will allow you to interact with dApps on the Ethereum network and complete transactions using your Ether balance.

Once you have set up your Metamask wallet and connected to the Web3 network, you must choose an NFT marketplace to list your NFT for sale. One of the most popular marketplaces for NFTs is Opensea, which allows you to buy, sell, and discover unique digital assets on the Ethereum blockchain.

To get started with Opensea, visit the website and create an account. Once you have signed up, you can browse the marketplace to discover NFTs or create your own NFT project.

To create your own NFT project on Etherscan, you must first navigate to the Contracts tab on the Etherscan website. From here, you can click on the Write Contract button to create a new smart contract.

Once you have entered the required details for your smart contract, you can then define the properties of your NFT, such as its name, symbol, and other metadata. You can also upload an image or other digital asset to represent your NFT and define any other attributes or details you want to include.

Once you have created your smart contract and defined the details of your NFT, you can then mint your unique token on Etherscan. To do this, navigate to the Contract tab on the Etherscan website and find the address of your smart contract.

From here, you can click the Write Contract button and select the Mint function from the list of available options. You will then need to enter the required details for your NFT, such as the ID and quantity, before submitting the transaction.

In the details section of your NFT, you can add more information about your digital asset. This can include a description of the artwork, its story, or any other relevant details. You can also add links to your social media accounts, website, or other platforms where fans can follow you and your work.

Having a detailed description and information about your NFT can help attract potential buyers. Thus, making your digital asset stand out in a crowded marketplace.

One important aspect of minting an NFT on Etherscan is understanding and paying for gas fees. Gas fees are the fees paid to miners on the Ethereum network to process transactions. They vary depending on network congestion and other factors.

When you mint an NFT on Etherscan, you must pay a gas fee to complete the transaction. To do this, you must have a sufficient balance of ether in your Metamask wallet. To process your transaction efficiently, set the gas price and limit accordingly.

Before you deploy your smart contract and mint your NFT, its a good idea to test your contract to ensure that it works. Etherscan provides a testing environment where you can simulate transactions and interactions with your smart contract to identify any potential issues or bugs.

After testing and confirming your smart contract, deploy it to the Ethereum mainnet for NFT minting.

Once youve minted your NFT on Etherscan, take a moment to review your smart contract for any necessary adjustments. This includes verifying that your NFT has been minted correctly and that all of the details and properties are accurate.

Ensure the security of your NFT and smart contract by reviewing the code for any vulnerabilities.

Furthermore, following these steps, you can easily create and sell your unique digital assets on the Ethereum blockchain using Etherscan.

As the popularity of NFTs grows, we can expect to see new and innovative use cases for these digital assets. Artists, musicians, and collectors can showcase their work by minting NFTs on Etherscan.

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How to Mint NFT on Etherscan? - Watcher Guru

A recent report from The Influencers Club suggests that the creator economy was worth over $100 billion in 2022 and continues growing. Recent trends appear to back this up, with YouTube expanding to Shorts, TikToks launch of Pulse and Facebook pushing content with Reels.

The creator economy is expanding in other ways too, with the use of artificial intelligence tools like ChatGPT and DALL-E to generate content, the rise of live streaming platforms like Twitch and growing interest in podcasting.

However, creators face a number of challenges that will likely become more severe as the economy grows. One of the major problems is that creators often find themselves locked in centralized platforms such as Instagram and YouTube, held hostage by algorithms that determine the reach of their content. Meanwhile, the vast majority of creators struggle to generate much income from their work.

With the emergence of Web3 technologies like cryptocurrency and non-fungible tokens, creators have an opportunity to break free of their reliance on centralized platforms, gain full control of the content they create and establish direct relationships with their fans.

The creator economy owes its existence to the Web2 era. Web2 saw the rise of platforms like Facebook, TikTok and Instagram, the concepts of blog posts and podcasts, giving people a way to generate their own content. With Web3, creators now have a fairer ecosystem that allows them to become masters of their own destinies.

The advantage of Web3 is that it grants users ownership of their data. Creators will be able to treat their data as their own personal property and be paid for whatever content they create, and others consume. We have already seen NFTs used to record who owns a digital artwork, and user data can be tracked and traced in the same way.

Existing projects have already made this possible. A good example is the tokenized Web3 advertising platform Permission, which connects consumers with brands. With Permission, users can earn cryptocurrency as a reward for sharing their data and engaging with brands. A similar idea is Ocean Protocol, which is a marketplace where individuals can sell their data as an NFT. In addition, Zedoshis an app that pays users to watch advertisements.

In Web3, artists, musicians, video bloggers and other content creators wont need to rely on traditional platforms such as Facebook and Instagram, or try to attract brands to sponsor their content. Instead, theyll be able to distribute their content through decentralized, user-owned platforms.

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Web3 will see the rise of decentralized social media platforms such as Taki,where all of the platforms users have a stake in the network and can earn rewards for sharing, liking and commenting on content. Decentralized platforms will be democratic and inclusive, and allow anyone to monetize their work directly. Creators can therefore be more selective about which brands they choose to work with, leading to better quality advertising.

The Web3 creator economy will also enable closer relationships between influencers and their fans and new funding opportunities. For instance, Snapmuse.iois pushing the concept of NFTs that allow fans to partner with their favorite creators. They can acquire NFTs with a portion of the influencers ad revenue. The goal is to foster a bigger community and get broader engagement through the new partnerships.

In Web2, Amazon, Google and Apple emerged as the new middlemen, taking big cuts of each sale through their online stores. The same goes for Facebook and Instagram, which take most of the advertising revenues generated by creators content for themselves.

That can change with Web3, and indeed it already has. Their largest NFT marketplace is OpenSea, which takes a 0% transaction fee from each sale. Each transaction is transparent, creating a public record of the NFTs value and provenance.

Instead of posting a video on Facebook and losing the rights to that content the moment it has been uploaded, creators will be able to mint NFTs that establish that they are the owner of that video. Alternatively, creators would be able to sell those NFTs directly, transferring ownership to the buyer.

One forward-thinking project capitalizing on this is GenZeroes, the worlds first NFT-powered video and comic book series. Its funded by the sale of NFTs to fans, who gain exclusive access to new episodes and the chance to have a say in what will happen in the second season.

Smart contracts ensure timely payments as they eliminate the middleman, meaning creators will receive their revenue share the moment it has been paid. As Web2 platforms begin to disappear, smart contracts and NFTs will emerge as the new standard, with a record of ownership for every piece of content posted onto immutable public blockchains.

With NFTs, artists will be able to keep track of the value of their older creations and continue to monetize them through royalties. Under the old system, if an artist sold a painting for $10,000 and it was later sold again for $5 million, the artist would not receive anything more, with the dealer pocketing the difference. That wont happen with NFTs, as the artists can create a smart contract that ensures they will receive a percentage of any future sale.

Most will agree that content creators deserve full recognition and value for their work, and that is precisely what Web3 will provide. One of the greatest benefits of technology is democratization, putting advanced capabilities into the hands of consumers.

Web3 is the next evolution of this paradigm, and it will be a game changer for creators, giving them unprecedented control over their content. No longer will they need to rely on platforms like YouTube to monetize their work. Theyll have direct ownership of their work along with direct access to their fans.

Tomer Warschauer Nuni is CBDO @Kryptomon, a serial entrepreneur, advisor, and investor focused on the innovative blockchain & Web3 industry.

This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

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What's next for NFTs and Web3 in the age of the creator economy? - Cointelegraph

Terra Classic new project DFLunc, gaining popularity for its massive LUNC burn mechanism, has burned almost 2 billion LUNC tokens in two weeks. The DeFi protocol was launched in April to deflate LUNC circulating supply more rapidly by burning billions of tokens. With the massive LUNC burn by the protocol, the total LUNC burn surpassed 57.8 billion.

Binance burned 1.27 billion LUNC as part of its monthly LUNC burn mechanism on May 1. Until now, Binance has burned 31.83 billion LUNC tokens.

DFLunc on May 12 shared on Twitter that it has burned over 1.6 billion LUNC, overtaking Binances 1.27 LUNC burn. The Terra Classic community burned almost 2 billion LUNC through DFLunc Protocol as it begins to attract attention. The DeFi protocol consists of multiple smart contracts to deflate LUNC supply through a continuous burn mechanism.

DFLunc Protocol is also a validator for Terra Classic that allows users to mint its DFC token only by burning LUNC tokens. It utilizes two smart contracts based on CosmWasm DFLunc and CW20-DFC. Users burn LUNC by paying USTC as protocol fees to mint DFC tokens. Staking more through the validator burns more LUNC by the DeFi protocol.

The protocol has divided its plan into different stages that ultimately aimed toward the growth of its validator on the Terra Classic chain.

As per the transactions seen by CoinGape Media, the protocol is still burning LUNC through its contact address. The total burn by the community has now reached 57.8 billion LUNC tokens.

Also Read: Bitcoin (BTC) Price At Inflection Point, Big Move Happening In Cardano (ADA)

Terra Classic core developerJoint L1 Task Force (L1TF)prepares for v2.0.1 Upgrade as the community successfully passed Proposal 11511. The Terra Classic blockchain will halt at block 12,812,900, estimated on May 17 at 17:11 UTC. It is followed by the Cosmwasm 1.1.0 Parity upgrade on May 31.

As GoinGape earlier reported, the upgrade includes several critical features such as a minimum initial deposit for governance proposals that will prevent spam, upgraded Cosmos SDK and Tendermint, and enhanced code maintainability.

LUNC price jumped 1% in the last 24 hours, with the price currently trading at $0.000090. The 24-hour low and high are $0.000088 and $0.000091, respectively. Furthermore, the trading volume has increased significantly in the last 24 hours, indicating a rise in interest among traders.

Also Read: Binance Adds New PEPE, SUI Margin Pairs; Popular Analyst Predicts Another Rally

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Terra Classic Project Burns 2 Billion LUNC Tokens, Overtaking ... - CoinGape

MIT researchers have discovered that machine-learning models mimicking human decision-making often make harsher judgements than humans, due to being trained on the wrong data. Models should be trained on normative data (labelled by humans for rule defiance), but are typically trained using descriptive data (factual features labelled by humans), leading to over-prediction of rule violations. This inaccuracy can have serious real-world consequences, such as stricter judgements in bail or sentencing decisions. The study highlights the importance of matching training context to deployment context for rule violation detection models and suggests that dataset transparency and transfer learning could help mitigate the problem.

A separate study involving 6,000 US adults examined views on AI judges, revealing that while AI judges were perceived as less fair than human judges, the gap could be partially offset by increasing the AI judges interpretability and ability to provide a hearing. Human judges received an average procedural fairness score of 4.4 on a 7-point scale, while AI judges scored slightly below 4. However, when an AI-led proceeding offered a hearing and rendered interpretable decisions, it was seen as fair as a human-led proceeding without a hearing and uninterpretable decisions.

Who should define the Ethics of Artificial Intelligence?

Ethics for AI is a controversial topic, to say the least. Who should define its code? Even more.

As AI tools like ChatGPT demonstrate higher accuracy in certain domains, such as tumor classification, and pass legal reasoner tests like Minnesota Law School exams, the human-AI fairness gap may continue to narrow. In some cases, advanced AI decisions are seen as fairer than human judicial decisions, suggesting that future AI judging developments might result in AI proceedings being generally perceived as fairer than human proceedings.

AI-driven legal services are gaining traction, with platforms like LegalZoom providing consumer-level automated legal services. AI has the potential to reduce human bias, emotion, and error in legal settings, addressing the access-to-justice gap experienced by low-income Americans. University of Toronto Professor Gillian K. Hadfield states that AI reduces cost and helps address the access to justice crisis. However, she also acknowledges that more work is needed before AI becomes common in courthouses due to the laws intolerance for technical errors.

Blockchain technology is also making its way into legal services. Public blockchains offer transparency, trust, and tamper-free ledgers, with strengths like traceability and decentralization complementing AI to generate trust and provide valuable information about origin and history. Smart contracts are expected to play a role in the evolving legal system, with many commercial contracts likely to be written as smart contracts in the near future. 2Decentralized justice systems, such as Kleros, use blockchain-based arbitration solutions with smart contracts and crowdsourced jurors.

Improving dataset transparency is one way to address the problem of harsh AI judgements. If researchers know how data were gathered, they can ensure the data are used appropriately. Another possible strategy is transfer learning fine-tuning a descriptively trained model on a small amount of normative data. This approach, as well as exploring real-world contexts like medical diagnosis, financial auditing, and legal judgments, could help researchers ensure that AI models accurately capture human decision-making and avoid negative consequences.

In conclusion, AI models making harsher judgements on rule violations due to descriptive training data instead of normative data can have real-world implications, such as stricter judicial sentences and potential negative impacts. Researchers suggest improving dataset transparency, matching training context to deployment context, and exploring real-world applications to ensure AI models accurately replicate human decision-making.

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Harsh AI judgements: The impact of training data - Innovation Origins

In the mid-1980s, a bright red computer terminal that provided lawyers with online access to case law was an iconic status symbol. The UBIQ terminal hooked lawyers up to the Lexis service, at the time one of the first legal technology systems, using full-text search capabilities to provide rapid access to information. The conventional wisdom at that time was that computers were soon going to make extensive legal libraries and paper obsolete.

Thirty-five years on, what has happened? After years of chronic underinvestment in technology and embracing data and systems at the core of the digital agenda, lawyers remain comfortable with paper. Legal documentation has not been effectively digitised and, as a result, legal teams continue to wrestle with data management.

With the next inflexion point in legal technology evolution, including artificial intelligence and smart contracts, fast arriving, Eric Mueller, Chief Operating Officer and Managing Director, D2 Legal Technology and early Lexis developer, asks: Is the legal function finally ready to embrace legal tech and unlock tangible business value?

Senior lawyers have been lampooned for years for their lack of technology confidence. Yet each subsequent generation has failed to embrace the innovation in legal tech that could and should have transformed the industry. Thirty-five years ago, however, lawyers were ahead of the curve. A decade before the commercial arrival of the Internet, easy to use browsers and intuitive search engines, there was huge excitement surrounding Lexis, one the first legal technology products.

In 1987, I was a system developer on the advanced technology team of Lexis, and it appeared the legal environment was ready for significant change. The service provided access to all legal case law and it was highly intuitive. Development focused on natural language processing (NLP) a subject still debated today as chatbots become more sophisticated. It included hypertext in an era long before browsers, and used powerful full text search based on key words with Boolean operators, with search results presented in the by relevance list, now ubiquitous with any search engine.

In contrast to todays information services, it was expensive. With no commercially available access to the Internet, Lexis had to accessed through dedicated terminals. The price was per search, putting pressure on users to be very focused on their search terms. The clever decision to use iconic 1980s design to create the red UBIQ terminal, combined with the premium price, heightened the services status: the presence of a UBIQ on a lawyers desk was a sure sign of success. High profile senior lawyers saw legal technology as the future.

What happened? When lawyers had online access to case law thirty-five years ago, it seems utterly astonishing that the adoption of legal technology has been so limited ever since. This was a tool delivering tangible value. It was revolutionary, replacing the expensive libraries of case law books that required regular updates. It removed the need for dedicated librarians and time-consuming manual search. And while it was expensive, it was a cost that could be both charged back to clients and justifiable in the removal of the paper-based case law libraries.

Lexis completely changed the way lawyers search for information. One of the services even included the ability to construct a dedicated library that could host any type of document, leveraging Lexis ground breaking, full-text search capabilities, and thereby enabling the storage of legal agreements in the database. So why did the adoption of legal technology fail to evolve? Lawyers were slow to adopt PCs and they were behind the curve in mobile technology. Many legal teams still lack access to fully digitised records and their concerns relating the potential use of smart contracts are linked to a lack of widespread digitisation.

It is extraordinary to consider what the legal industry could have achieved if the early adoption of legal tech had not stalled. Sadly, rather than being innovative and embracing the potential of digital records, the industry has underinvested in both legal technology and good data management for the past three decades. Generation after generation of lawyers have failed to take advantage of the power of legal tech to improve client services, reduce risk and enhance efficiency.

The impact of this lack of investment is evident in every legal environment from the financial services in-house teams to law firms. These organisations continue to struggle to manage large volumes of legal documentation, resulting in additional risk, cost and a loss of productivity. Yet the technology has been available, proven and trusted for decades.

Lawyers have, quite simply, failed to step up and make the business case for investment in legal tech. While other industries have forged ahead, lawyers have accepted the status quo, continued to rely on paper-based records and time-consuming manual processes. Opportunity after opportunity to improve the efficiency and effectiveness of the legal function has been missed.

Now, however, it is becoming essential to take a far more proactive approach and truly understand the power of legal tech. Debates about the disruptive technologies such as AI and chatbots are increasingly placing a spotlight on the role of the lawyer of the future. But how can any legal function consider this next wave of tech innovation when still reliant on outdated processes and undigitised information resources? It is now vital that lawyers step away from the paper-based comfort zone, explore the benefits of legal tech and actively make the business case for investment.

The world has changed massively since 1987 and the rate of change is increasing. It is completely unacceptable that legal functions are not effectively using mature legal tech to improve data quality and accessibility or to support automated processes and de-risk operations. Document digitisation is now a fundamental requirement, not only to meet current demands but to also ensure the legal function is best placed to respond to the challenges of the near future.

The legal industry missed a compelling opportunity to build on early innovation and it cannot afford to roll the clock forward another 35 years without making vital investment in embracing the increasingly digital world.

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A New Dawn of Legal Technology - Global Banking And Finance Review