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How Much Does It Cost to Mint 10,000 NFTs?
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How Much Does Minting an NFT Cost?
The gas price is the fee you pay to the blockchain and plays a crucial role when it comes to creating NFTs. Therefore, your cost to mint NFT may range as low as $0.01 and go into thousands. However, the gas fee associated with minting NFT can cost you an average of $500.
The higher gas fee is the primary reason that prevents many new artists struggle to sell their NFT art at a higher price. Wondering how much will it cost to mint NFTs? Then speak to one of our NFT experts today!
Gas Fees for Minting NFT
In order to mint an NFT, you have to perform transactions creating NFT deeds. You can do this by utilizing a computer network known as a public blockchain. While you can always avail public blockchain for free, using its resources will still cost you to mine NFTs. You must remember that platforms offering free NFT minting services are lazy.
With a lower gas fee, you can mint thousands of NFTs at an affordable price. Therefore, consider the gas fees to mint NFT when calculating the cost of creating a single NFT or a collection of 10,000 NFTs. In case you wish to reduce the gas fee, then it is best to mint your NFTs at a quieter time, depending on your location.
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Cost To Mint 10,000 NFTs
Since Meta, formerly known as Facebook, introduced Metaverse, there has been an explosion of interest in NFTs amongst investors, brands, and developers. As of now, the NFT minting fee ranges from one dollar to more than a thousand dollars.
One of the classic examples of the cost to mint an NFT is Allen Gannet. He paid over $1,300 for just four NFTs of the world's most famous painting that he downloaded from the portal of the Metropolitan Museum of Art. This was considerably profitable because the images he downloaded were free of cost.
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Cost to mint NFTs using Different Blockchain
When wondering how to create 10,000 NFTs, the three leading blockchains you can consider are:
Cost to mint NFTs on Solana
Solana is one of the blockchains that can cater to the creation of 10,000 NFTs. While the platform previously charged only 0.21 cents per NFT, its current fee to mint a single NFT stands at $2.16. At this rate, the cost of minting 10,000 NFT will be over $21,000. However, the platform is not as popular or secure as other platforms such as Ethereum and OpenSea.
Cost to mint 10,000 NFTs on Ethereum
The upfront cost to mint NFTs on Ethereum is higher than Solana. However, this blockchain offers more compelling options for creating an NFT collection. The mint fee on Ethereum requires a gas fee ranging from $70 to $100.
Ethereum blockchain operates just like an auctioning square. Therefore, you will have to set a minimum yet competitive selling price. Ethereum will also charge a platform fee if you wish to list an NFT for sale. However, you will enjoy the perks of stability and security of the Ethereum blockchain. At this rate, minting 10,000 NFTs on Ethereum can cost you between $5,000 and a million.
Cheapest Cost to mint on OpenSea
You can measure the gas-free amount for the completion of one NFT transaction on OpenSea via GWEI. GWEI is a measuring unit and is one-millionth of Ethereum's value. The default token for the gas fee is ETH; however, you do not need to pay the gas fee on the Polygon blockchain.
Unlike other cryptocurrencies, there are no fixed gas fees on OpenSea. The cost can fluctuate based on the supply of the ETH blockchain. For instance, during peak supply, you may have to pay up to $300. On the other hand, during a lower supply period, you can pay as little as $40.
Ways to Create NFTs
You can create NFTs using various methods, which are:
Lazy Minting
This method allows NFT creation off the main blockchain. This will help our clients avoid upfront NFT minting costs. You will be able to create free NFTs but have to pay a minting fee upon selling this NFT. If you are thinking about experimenting with the NFT, lazy minting is the most viable option that you should explore.
Gasless Minting
Use the gasless minting method to create your NFTs without the actual need to submit your NFT on a blockchain. This rectifies the need for any transaction as you do not pay a cent to create your NFT. In gasless minting, you can access NFT space without any barriers to entry fees, also known as gas fees.
Layer 2 Scaling Solutions
You can save money when it comes to the cost to make NFTs by exploring the layer 2 scaling solutions. These solutions will allow you to scale applications such as Ethereum via processing the blockchain transactions off layer 1. However, you will continue to enjoy the same level of security offered by the blockchain.
Layer 2 solutions can increase your throughput and decrease your gas fee. This means you will pay less out of pocket when creating an NFT. Some examples of layer 2 solutions are Immutable X, Polkadot, and Polygon.
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Prolific Studio Providing Services to Mint 10,000 NFTs
At Prolific Studio Animation Service, we can create digital NFT collections as per your needs. Speak to our NFT experts to discuss your requirements. Your 10,000 NFTs can be any of the following:
The higher gas fee is the primary reason that prevents many new artists struggle to sell their NFT art at a higher price. Wondering how much will it cost to mint NFTs? Then speak to one of our NFT experts today!
- Collectible items
- Artworks
- Music and media
- Gaming
- Event tickets
- Cartoon characters
- Big sports moments
- Virtual Fashion
- Animation
At Prolific Studio, we use cutting-edge software in our state-of-the-art graphic studios to create high-quality and high-definition NFTs for our clients. We can be your brand's strategic partners enabling growth and gaining a competitive position in Metaverse.
Whether you are an individual or a business, our team of expert NFT designers will help you create your own NFT collection. Our services include onboarding, consulting, and assistance throughout the NFT creation process. If you are interested, speak to one of the NFT experts today!
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Frequently Asked Questions
On average, the cost to mint an NFT may range between $0.01 and $1000. On top of that, an NFT wallet may charge you up to $120 to open your account for transactions.
Yes, the selling and sending of NFT will require you to pay a gas fee. This fee includes gas charges and transaction costs. As a new seller, you might be unaware of the expenses and bear losses when selling your NFTs. Therefore, do not forget to incorporate these costs into your NFTs pricing when listing your NFT to sell on any platform.
No, you do not need to pay any gas fee as the buyer pays for it. You can use NFT marketplaces such as Rarible, OpenSea, etc. You can also use a less popular marketplace such as Mintable to mint free NFTs.
The average price to sell an NFT can be under $2,000. However, the all-time high average of selling an NFT has been $6,900.
Yes, typically, it will cost you to make an NFT. However, the cost varies depending on the type of NFT you want to create and the blockchain you are going to use. Speak to our NFT experts to discuss your needs today.
Making an NFT can cost you as low as $0.01, but the price can go into thousands of dollars, especially if you are thinking about creating an NFT collection for your brand.
The cost to list an NFT depends on the blockchain platform you are going to use. You can list your digital NFT for sale on an NFT marketplace without having to pay anything. You will only pay a fee of a minimum of 2.5% if you manage to sell the NFT.
You can create NFTs such as collectible items, artworks, music, media, gaming, event tickets, cartoon characters, big sports moments, virtual fashion, animation NFTs, etc.
Minting a single NFT can cost you as much as $1,000. However, to start an NFT project with collection will cost depending on the total amount of NFTs you wish to mint. For instance, minting 10,000 NFTs can cost you from $5,000 to a million dollars.
Due to their type, many blockchains offer a lower cost to create NFT compared to Ethereum. Currently, Ethereum operates on the proof of work blockchain. This blockchain offers extreme security but lacks efficiency. This is why the cost of NFT is higher on Ethereum, as you will have to pay a higher fee for the transaction.
Yes, you can create NFT for free by using the Polygon blockchain. However, it is a lazy minting process. Furthermore, you can create free-of-charge NFTs until you sell your NFTs. If you are looking for an inexpensive but comparatively efficient method to create NFT, you can use blockchains such as Avalanche, Solana, Tezos, and WAX.
