Is minting the same thing as buying?

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I’m a debutant and I’m having hard time understanding the difference between minting and buying. But maybe there are just web3 synonyms?


To post an answer, please !

5 answers

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Minting = the creation methode of the token via the original smart contract. Compare a smart contract with a snack machine in which you put in crypto and receive your nft. ​ Buying = mostly you buy a NFT via Opensea or some other NFT marketplaces. This is the secondary market. In this case you just transfer the ownership from person x to person y. ​ Hope this helps! :-)

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thank you very much !

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To add to what @hoppiii correctly stated, minting is creating an nft into existence. If you mint you are the first ever owner of that particular nft. This will always be the case until the end of time (or at least until the end of that particular blockchain. Whichever comes first).

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thank you ! It really helped !

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Minting is a form of buying first hand from the creator (primary market)> ​ Buying is a more general term, where one can buy anytime from anyone from the secondary market.

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thank you !!

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I count minting like going to the store and paying for the item yourself, normally thats how you will get the best price too. When saying buying an nft I imagine getting it via secondary.

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thank you for your answer !

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Another difference between minting and buying, yet not mentioned in the answers, is what you get. ​

  • When you buy an NFT you tipically choose what you buy, depending on what you like more, on the floor price, or the rarity. You look at what is available on the secondary market and you choose the one to buy. ​
  • On the opposite, when you mint an NFT you don't know the output, since you are the person that is triggering the birth of the NFT. You might obtain something super rare, something common, something that you like a lo or something that you like less.
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