NFT is an acronym for non-fungible tokens. NFTs were introduced to the world at a time when we were still collectively getting accustomed to cryptocurrency selling and buying. However, ushering NFTs into the world took a better turn than crypto because people were more receptive to NFTs. NFTs exploit blockchain technology to provide artists with a highly secure way to sell their digital art while establishing ownership and provenance in a way that even physical artwork cannot.
The major setback in the creation (mint) of NFTs is the cost of gas fees. The gas fees charged by most blockchains like Ethereum are high and might discourage artists from wanting to convert their artworks to NFTs. Despite this setback, several methods have been postulated to help artists mint NFTs without gas fees.
In this article, we briefly examine what NFT gas fees are, how artists can avoid them, and the best platforms to trade NFTs without gas fees in Nigeria.
What are NFT gas fees?
Before NFTs can be sold, they must go through a process known as minting. For this process to be seamless and without hitches, the blockchain usually requires a specified payment in cryptocurrency like Ethereum. This payment is referred to as a gas fee. Because the cost of gas fees is rising every other day, it has become difficult and discouraged several artists and creators from creating their collections. This is where free NFT minting becomes relevant.
Minting NFTs without gas fees is referred to as “lazy minting.” Essentially, lazy minting is minting non-fungible tokens without paying for gas. Go with a gasless NFT marketplace like Polygon’s NFT Minter, which has many fantastic features for NFT creators. And the best part? Everything is 100% gas-free. This is no doubt one of the most cost-efficient approaches to NFT minting.
Best platforms to sell NFTs without Gas Fees in Nigeria
In Nigeria, very few platforms support the sales of NFTs without Gas fees, and some are listed and discussed below.
OpenSea is the largest platform for selling NFTs, and, fortunately, it allows users to create and sell NFTs without gas fees by utilizing a “Lazy Mint” functionality. Lazy Minting is the process of minting the NFT at the time of sale.
This is super helpful for budget-conscious NFT sellers because it allows them to avoid paying gas fees until the NFT is sold, meaning they don’t need to waste money on creating NFTs that don’t eventually sell.
The process is relatively simple to create an NFT on OpenSea without gas fees. Click the “Create” button on the top right of OpenSea.io.
Users can easily create and list their NFTs by following the prompts on the screen. Again, without paying upfront gas fees.
Rarible is another extremely popular NFT platform that allows you to sell NFTs without gas fees. Rarible launched its lazy mint capabilities in October of 2021, and ever since artists have found tons of value in the Rarible platform as a cost-effective way to sell NFTs.
What’s also cool about Rarible is that you can pass the minting gas fees onto the buyer, making it easy to sell NFTs for free.
Versify is a great platform that makes it incredibly easy to sell NFTs. Better yet, there is no need to pay gas fees by the seller or the buyer. Also, Verify makes it incredibly easy to buy NFTS with a credit card, which means you can sell to people otherwise unfamiliar with blockchain transactions and using MetaMask.
Trade cryptocurrency at the best rates in Nigeria
If you have been looking for a safe platform to trade cryptocurrency in Nigeria, look no further, as we’ve got you. The best place to trade cryptocurrency in Nigeria is Astro Africa. Astro Africa sells cryptocurrency at the best rate to help crypto traders maximize their profits. The platform also has a rates calculator that helps you calculate the rates of all kinds of cryptocurrency in real-time. To create an account, head to the Astro Africa website or download the app from Google Play Store or Apple Store.