NFT marketplace Rarible, One of the most popular NFT Markets, has unveiled a new feature which enables artists to enter the booming digital collectibles world and create NFTs at almost no cost.
Rarible said the new feature, called “lazy minting,” has already been integrated into the platform.
The wide majority of NFTs are currently on the ETH blockchain, that is prone to high gas fees in cases of network congestion. Because of the last NFT craze, ETH gas fees have increased again, growing costs for NFT artists.
At the same time, Rarible states that with the “lazy minting” feature, NFTs minted not at the time of creation, that is a usual step, but at the time of buy.
As a result, the purchaser is responsible for paying for the gas fees.
Rarible mentioned that it is the purchaser who pays the gas frees when buying the item. Meanwhile, your NFT listed on the marketplace exactly as any other NFT, and the data is being safely stored on IPFS( decentralized storage).
According to Rarible Analytics, the current average gas fee on the market for minting a single ERC-721 token is about 0.127 ETH ($ 480).
In addition, Rarible platform said that this new feature is the upcoming step towards reliability for the platform because it lessens the amount of unimportant transactions on ETH referred to NFTs which do not get bought.