Does anyone know what the price will be to mint a nft on radix ?
i don’t know. but i hope in the same range like transactions.
had 2 free mints yesterday on solana.
gas fee = usd 18.00 each
hope radix will be much better.
18 dollars ! What that is way way to much , I thought it will be in the pennies for radix ?
18 dollars was for opensea (eth).
i thin radix will be way less.
But you said it was on solana ? Does anyone know the cost to mint on Solana or atom ect ?
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i found this about solana gas fees:
It’s always depend on ethereum gas. So if gas is less then fees will be less, if gas will the fees highand gas totally depending on transaction per block.
correct. i had many differences for ETH gas in a period of 5 minutes.
Right now it costs 100 XRD to mint a token on the network, that’s about 8$ at current price.
I couldn’t find anywhere the fees for NFTs or badges, so maybe they will be added later.
But if you consider that NFTs come in collections of 10k let’s say, the creator can mint the whole collection in one go and then the buyers of individual NFts would basically pay just the transaction fee, which is 0.08 XRD, so pennies basically.
You can find here the current network fees: Getting Started
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Those aren’t smart contract interactions though, and Matt repeatedly stated that the fee model is still to be published (and probably still to be finalized even). It’ll have some relation to ‘load’ in some sense. But we just don’t know yet what that means in practice.
For the NFT minting case, this probably depends quite a lot on what kind of metadata is stored in the NFT. If it’s ‘just’ a number or a IPFS URL referencing a JPG that’s stored off-ledger it should be pretty cheap.
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It’s $18 because you’re paying a rent-excempt fee.
Rent is a concept on Solana where you pay for distributed data storage. You can pay rent, but if the rent balance goes to 0 and someone tries to access that data it will literally be deleted. So they offer a default option of rent-excempt, where you pay up front for 2 years of rent, and in exchange they offer you permanent data storage.
Therefore, for most NFTs it costs ~$5-10 to pay for this permanent data storage. It’s actually a bargain, and they might not offer it in the future.
Of course, radix can probably do it cheaper.
I’m not sure maybe it hasn’t been announced yet, considering previously the NFT fomo wave in 2021 was so crazy I studied some of the top NFT platforms. Like Opensea, they give free gas fees for making NFTs with the Polygon network, even though their payment method is still in the form of Eth which is attached to the Polygon network.
I hope that if radix wants to compete in the NFT realm they should have cheaper gas costs or maybe free, because the NFT market has unique things like creativity, despite the consequences If it is too cheap, it will reduce the quality of its contents. But in decentralization you may not be able to prevent it.
Given that radix is a platform for L1 tokens and maybe all NFt is the same thing, I think it will have a different value, from other competitors.
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