More

    How to mint your NFT for Free?

    NFT is a booming market where every person wants to get into this space. Everyone wants to make money through this. There are two main ways through which you can make money. Either by selling your own NFT or buying an NFT at a lower price and then re-selling them at a higher price. Creating an artwork is a better option for an average person who wants to make money in NFT space instead of buying and re-selling it because most valuable NFTs are trading at a much higher price. Buying can be a good option, but it is much riskier also. 

    An average person who is a sound artist who wants to make money by selling their artwork in the NFT marketplace gets fed up when they know about the different fees, especially gas fees they have to pay to market their NFT in the marketplace. The cost of selling NFT in most NFT marketplace is about $300, making it quite hard for beginners to sell their NFT. This article will share how you can mint your NFT for free.

    How to mint your NFT for free?

    Rarible.com provides its creators and minors with the feature to mint their NFT for free in their marketplace through the ‘lazy minting’ feature, which we think it’s a game-changer in this industry. 

    How is Raible making NFT free?

    Rarible.com provides its creators with a new feature of “lazy minting,” which means you need nothing in your wallet to start minting as Raible is a marketplace that allows artists to create and sell their artwork on the Ethereum blockchain network directly, which eliminates the middleman in between such as external coin base wallet or MetaMask which removes the gas fees collected by the platform for the transfer of the Ethereum. 

    How is it done?

    Traditionally when an artist starts to mint their collection, they have to pay upfront gas fees immediately to mint their collection. But with ‘lazy minting,’ this step is passed to the buyer, not the seller. This means that you don’t need to mint your NFT collection until someone purchases it. 

    Firstly, when you put your NFT collection on the Rarible platform, it will don’t ask you to mint your NFT. You can list your collection in the authorized marketplace without minting your collection. When someone buys your NFT and until the contract has been signed and the payment is released, it will be in your control only. Once both parties sign the contract, you need to mint your NFT, and through this way, you pass your gas fees to the buyer. However, the gas fees are cut from your sale amount and not actually from the buyer, which creates a win-win situation for both. In this way, you can mint your NFT for free because you are not paying a single amount of money to anyone before selling your NFT artwork. 

    This feature is game-changing in the NFT space because it will attract many small to prominent creators to sell their artwork in this way. This feature will allow creators to create as many NFT collections as possible, which would be great for the NFT industry. I think that this feature will soon be available on most other platforms. 

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    You might also like...