what does minting a nft mean
Creating a new token and the corresponding smart contract is a process called "minting". All ERC-20 tokens adhere to these common rules. These tokens can represent assets like gold, silver, stocks, or other fungible goods. Image source: https://www.redbubble.com/i/poster/original-nft-art-bored-ape-yacht-club-crypto-art-nft-monkey-nft-by-MY1GALAXY/98780483.LVTDI There are some differences between these tokens and "native" cryptocurrencies. Without an existing blockchain, the ERC-20 standard does not have a native cryptocurrency. The only fungible good that it can represent is another token (called a token placeholder). These tokens can also be freely traded on exchanges, but they attract no interest from speculators. The following list includes all of the rules that govern ERC-20 tokens and smart contract interactions: Introduction of new tokens: a smart contract is written to mint new tokens when a user sends ether to its address . The act of sending eth