Want to create your own non-fungible token but don't know where to begin? Before you dive into the world of selling NFTs, you should know that there are usually some upfront costs. The cost to mint an NFT will vary depending on the marketplace you use and the blockchain you mint on. To mint on Ethereum, the most popular blockchain for NFTs, you'll usually have to pay gas fees, which can get costly. Along with listing fees and commissions, your costs could range anywhere from $0.01 to $1000. However, thanks to a process called "lazy minting," as well as gasless marketplaces, there are now ways to mint NFTs for free! This wikiHow guide will break down the costs associated with creating and minting NFTs, and cover your options for making NFTs for free.
Things You Should Know
- Gas fees vary by blockchain. Ethereum has the highest gas fees, while blockchains like Solana and Cardano are cheaper.
- Marketplaces like OpenSea and Rarible allow you to list an NFT without minting until it's purchased, which means you won't have to pay gas fees.
- To make an NFT for free, mint it on the Polygon network, or try a marketplace that offers gasless or lazy minting.
Steps
Expert Q&A
Tips
- While Ethereum's conversion to proof-of-stake from proof-of-work did decrease the blockchain's energy consumption, it didn't lower gas fees on the blockchain. [8] X Research sourceThanks
- If your NFT is artwork, you can create it in paid software like Adobe Photoshop , or try a free option like GIMP . You can also use NFT-specific art products like Pixelchain , Pixomatic , or NinjaNFT .Thanks
- If you mint your NFT on Solana, you'll actually have to pay 3 transaction fees! However, these fees are much cheaper than Ethereum, and may only cost you a few cents total.Thanks
References
- ↑ https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/gas-fee
- ↑ https://help.rarible.com/hc/en-us/articles/13178947664397-How-much-does-it-cost-to-create-an-NFT
- ↑ https://rarible.com/blog/create-nfts-for-free-on-rarible-com-via-a-new-lazy-minting-feature/
- ↑ https://opensea.io/blog/announcements/introducing-the-collection-manager/
- ↑ https://rarible.com/blog/create-nfts-for-free-on-rarible-com-via-a-new-lazy-minting-feature/
- ↑ https://editorial.mintable.com/lazy-vs-gasless-how-gas-free-is-gas-free-minting/
- ↑ https://polygon.technology/blog/how-to-mint-nfts-with-utility-gas-free-on-polygon
- ↑ https://cointelegraph.com/news/ethereum-foundation-clarifies-that-the-upcoming-merge-upgrade-will-not-reduce-gas-fees