Is it better to mint on Polygon or Ethereum?
Polygon is the best blockchain to launch an NFT project with high-frequency and low-value transactions. On the other hand, ETH is the best blockchain NFT project with low frequency and high-value transactions. Hence if you are launching between 7,000 to 10,000 NFT arts, I'll suggest you consider launching on Polygon.
Architecture, Consensus, scalability, and transaction speeds are the main criteria based on which the blockchain platforms will be differentiated. While the Ethereum platform is more about the features and security, Solana and Polygon are more about affordable rates, faster speeds, and scalability.
Final Verdict. No single token is better than the other here. Both have their practical uses and applications. Besides that, polygon supports bridging, which allows you to use Ethereum and Ethereum-based currencies on OpenSea without problems.
Minting NFTs on Polygon (MATIC) NFT marketplace can be very profitable, and we are here to make the process even easier.
OpenSea supports typed signatures on Polygon, the same as we do on Ethereum, making it easier for users to understand what they are signing. In order to complete the signature request, you'll be prompted to switch your wallet network to Polygon. Once you've signed, your NFT purchase should be processed quickly!
To mint on Polygon, the standard fee is less than US$0.01 per transaction! This means our users will be able to enjoy a cost-effective NFT experience.
Even so, Polygon is far cheaper than Ethereum. The reason behind this is the calculation of gas fees since Ethereum is calculated in ETH while Polygon is done in MATIC. Thus, transferring 1 unit of the native currency, even at a low transaction cost of 7 Gwei on Ethereum, can go up to $0.62.
The Polygon team released a redesigned version of its NFT Minter that lets anyone create NFTs with custom utilities and pay zero gas fees doing it.
Advantages: Polygon does not require any gas fees on its blockchain network. It is easy to sell or buy NFT on polygon as it is gas fees-free, but one needs to pay a very small amount of gas fees when they convert Ethereum ETH to Polygon ETH. Polygon is a very scalable platform.
In order to spend your Ethereum currencies on Polygon, you must first bridge them from the Ethereum network (ETH) to the Polygon network (PoS).
How much does it cost to mint 10000 NFTs?
The cost to mint one NFT can range from about $1 to over $1,000. The cost of minting 10 000 NFTs could be as low as $5000 to as high as $1 million, depending on the blockchain. The costs to mint a single NFT can vary from $1 to over $1,000, so it's important to understand how much a particular blockchain costs.
The gas fee of the Polygon Matic network usually moves from $0.0005 to $0.2 and has been rising. In fact, crypto analysts say that the Polygon Matic gas fee might go back to $0.1 in the coming months.
Twitter is the go-to platform to find everything about a new NFT project at the beginning/early stage. As it is the most sought-after social networking and digital advertising platform, many NFT projects, and web artists, market their creations and collections on Twitter.
Lazy minting is when an NFT is available off-chain and only gets minted once a sale takes place. This means that the artist does not have to pay any upfront gas fees to mint their NFTs, essentially paying the fees only once the token is purchased.
In addition, buying an NFT at market can help you save on overall costs. Timing your purchase when network activity is low can save money on gas fees, giving you the opportunity to get in at a reduced price point compared to minting.
Along with the NFT trend, many NFT marketplaces currently offer a more economical or free method of minting. To do the lazy minting, you can do it on the OpenSea or Rarible.
Introducing a gas-free NFT marketplace, on Polygon.
That's right! Buyers no longer have to pay blockchain fees when making trades on OpenSea, and creators can fully earn their way into crypto for the first time.
The first fee for initializing your account to start selling costs between $70 and $300. The second transaction that grants OpenSea access to your NFTs is about $10 to $30. Naturally, to save your money and pay the fee at its lowest, you want to set up your account on days when gas prices are lower.
The biggest advantage of Polygon is that has a lot of potential use-cases, and it is built to scale as user volume increases, which means that in theory it can be used for mass adoption. Projects have begun migrating to Polygon, signalling a shift in users towards the newcomer.
| NFT Blockchain | Cost to create an NFT |
|---|---|
| Ethereum | 0.01 – 0.05 ETH ($50 – $150) |
| Solana | 0.00001 SOL ($0.01) |
| Polygon | Free (subjective to marketplace fees) |
| Tezos | .08 – 3.6 XTZ ($0.20 – $8) |
Is Polygon the same as Ethereum?
Not an autonomous blockchain: Polygon is a Layer 2 solution that works atop the Ethereum platform. If the Ethereum platform experiences serious disruptions or ceases to exist, then Polygon would likely lose its value.
You will have to pay gas fees whenever you accept an offer on OpenSea, transfer the NFT to a buyer, or gift it to someone else. The recurring gas fees also apply whenever you acquire an NFT, cancel a listing or a bid withdraw ETH to and from the network.
Processing batches of transactions on its own PoS blockchain eliminates the need for Ethereum to process all the files on its own. By batching transactions off the main chain, Polygon makes Ethereum lighter and faster.
Click “Sign” and you will be directed to their bridging portal to transfer your assets from Ethereum Mainnet to Polygon. Simply select which tokens you want to send, and click “Transfer”. It should take about 7-8 minutes to deposit your funds.
Minting NFTs on Ethereum can be expensive. NFT minting gas fees fluctuate due to demand on the network and the current price of ETH. The gas fees peak during periods of high demand as users compete to get their transactions added to blocks.
To make 10,000 NFTs, you need 10 layers with 4 variations each. Of course, it will be very difficult to combine 10,000 images manually. Therefore, you will need NFT-Generator to do so.
June 17, 2022
Free-to-mint NFTs are all the rage lately. In opposition to standard NFT drops where a collector must pay a set (or changing) price, plus a gas fee in order to create and purchase an NFT, free-to-mint collections offer a way for enthusiasts to mint an NFT at little to no cost.
By the end of December 2021, the Sunflower Games has caused the gas fee to increase by a staggering 16x on the Polygon blockchain network. The surge in the gas fee is also causing trouble for certain DApps.
NFTically reduces minting prices, removes gas fees on Polygon network to attract more users. Minting non-fungible tokens (NFTs) on the online software-as-a-service (SaaS) platform NFTically will now be free for users but only on the Polygon network, the company said in a statement.
Bitgert chain gas fee is $0.0000000000001. It is the cheapest gas fee in the cryptocurrency industry, which is a zero. The gasless blockchain is the reason why Bitgert has been skyrocketing non-stop for a whole week.
Is minting free on Polygon?
The Polygon team released a redesigned version of its NFT Minter that lets anyone create NFTs with custom utilities and pay zero gas fees doing it. The new NFT Minter comes with a number of awesome functionalities, including a choice between ERC-721 and ERC-1155 standards, Soulbound and regular NFTs.
There are two ways to bridge from Polygon to Ethereum mainnet, either through the Plasma Bridge — which takes 7 days to withdraw; or the PoS Bridge — which takes 3 hours to withdraw. Select the token to bridge, in this case, we have selected USDC.
Lazy minting is when an NFT is available off-chain and only gets minted once a sale takes place. This means that the artist does not have to pay any upfront gas fees to mint their NFTs, essentially paying the fees only once the token is purchased.
The cost to mint one NFT can range from about $1 to over $1,000. The cost of minting 10 000 NFTs could be as low as $5000 to as high as $1 million, depending on the blockchain. The costs to mint a single NFT can vary from $1 to over $1,000, so it's important to understand how much a particular blockchain costs.
Introducing a gas-free NFT marketplace, on Polygon.
That's right! Buyers no longer have to pay blockchain fees when making trades on OpenSea, and creators can fully earn their way into crypto for the first time.
Free-to-mint NFTs are all the rage lately. In opposition to standard NFT drops where a collector must pay a set (or changing) price, plus a gas fee in order to create and purchase an NFT, free-to-mint collections offer a way for enthusiasts to mint an NFT at little to no cost.
The first fee for initializing your account to start selling costs between $70 and $300. The second transaction that grants OpenSea access to your NFTs is about $10 to $30. Naturally, to save your money and pay the fee at its lowest, you want to set up your account on days when gas prices are lower.
Bridging means users can move their tokens between blockchain networks quickly and cost-effectively. The Polygon Bridge is used for cross-chain transactions between the Polygon (MATIC) and Ethereum (ETH) blockchains. It allows users to transfer ERC tokens and NFTs to the Polygon sidechain through smart contracts.
Polygon is a blockchain that provides scalable, secure, and instant transactions with Ethereum currencies such as ETH, USDC, and DAI. In order to spend your Ethereum currencies on Polygon, you must first bridge them from the Ethereum network (ETH) to the Polygon network (PoS).
Locate the Ether (PoS-WETH) token and click Withdraw. In the pop-up window, enter your desired withdrawal amount and click Transfer. You'll have to click Continue on three pop-up windows. You will be asked to confirm the transaction fee and acknowledge that the withdrawal process may take up to 4 hours to complete.
Does OpenSea allow lazy minting?
The Opensea collection manager allows users to create NFTs without upfront gas fees. What basically happens here is that your NFT isn't transferred to the blockchain until the first purchase or transfer is made. NFTs made with the collection manager follow the ERC-1155 standard.
How to Mint NFT for Free on Opensea without any gas fee - YouTube
Normally, you would have to pay a 'gas fee' to mint your NFTs, but OpenSea has a free 'lazy minting' tool that allows you to create NFTs with no gas fees.
| NFT Blockchain | Cost to create an NFT |
|---|---|
| Ethereum | 0.01 – 0.05 ETH ($50 – $150) |
| Solana | 0.00001 SOL ($0.01) |
| Polygon | Free (subjective to marketplace fees) |
| Tezos | .08 – 3.6 XTZ ($0.20 – $8) |
Minting NFTs on Ethereum can be expensive. NFT minting gas fees fluctuate due to demand on the network and the current price of ETH. The gas fees peak during periods of high demand as users compete to get their transactions added to blocks.
To make 10,000 NFTs, you need 10 layers with 4 variations each. Of course, it will be very difficult to combine 10,000 images manually. Therefore, you will need NFT-Generator to do so.
