In today’s article, we are gonna explain to you how you can mint NFTs on Opensea and Rarible paying zero gas fees by lazy minting process.
Opensea and Rarible have recently done some upgrades on their platform and introduced some new features. One of these features is lazy minting, and this is exactly what we are going to cover in this article.
What is Lazy Minting in NFT Platform Like Opensea and Rarible?
For the past several weeks, I’ve been trying to sell NFTs on popular NFT marketplaces like OpenSea, Rarible, and others. Most platforms cost high gas expenses in order to buy and sell NFTs. However, when uploading an NFT on OpenSea, It does not charge any gas fees. I was able to see the contract address and unique Token ID for the asset after uploading it.
But how can a Token be created on your NFT without any gas fees? Now you can upload your NFTs without gas fees in advance. This feature is called Lazy Minting or Lazy NFT Minting. (Source)
Lazy minting is a powerful technique that can let creators issue new NFTs at no up-front cost.
How Lazy Minting Works?
When you upload your NFT on platforms like Opensea or Rarible. Your uploaded NFT will not be moved to on-chain. So it will not consume any resource or blockchain or platform. When your NFT will get the first buyer, it will be transferred to On-chain and a token will be generated. This is referred to as “lazy minting.” It separates the metadata from the on-chain issuance of your NFTs.
The core principle of lazy minting is that instead of immediately establishing an NFT by invoking a contract function, the NFT maker uses their Ethereum account’s private key to produce a cryptographic signature of some data.
The signed data serves as a “ticket” or “voucher” that can be used to purchase an NFT. The voucher contains all of the information that will be included in the actual NFT, as well as additional data that isn’t recorded in the blockchain, as we’ll see when we discuss prices. The signature verifies that the NFT originator authorized the production of the voucher’s specific NFT.
NFT Minting vs Lazy Minting
Your digital art becomes a part of the blockchain–a public ledger that is unchangeable and tamper-proof–by minting an NFT. NFTs are tokens that are “minted” after they are created, similar to how metal coins are minted and brought into circulation. Your digital artwork is represented as an NFT, which allows it to be bought and sold on the market, as well as digitally tracked when it is resold or collected in the future.
What if I told you that you can create an NFT, and list it for sale FOR FREE.
Benefits of Lazy Minting in NFT
You can create an NFT and list your NFT on sale FOR FREE. You heard it right. It’s free. for you at least 😁. You will not have to pay anything until you get a buyer. The buyer of your NFT will have to cover the cost when they decide to buy it. You can start creating and selling NFT without prior investment. This is the huge benefit of Lazy minting. It attracts even lay man to think about NFT listing.
Okay, Lazy Minting basically have a 3-step process
- You’ll need a minting-capable smart contract (usually just a marketplace service like Rarible or OpenSea, which have their own smart contracts).
- In order to mint your NFT, you must pay a gas fee (gas costs $).
- Your NFT can then be sold to someone else.
It does appear a little different in lazy minting:
- You’ll need a contract that’s even smarter and capable of lazy-minting (e.g. Rarible)
- You’d use your private key to establish a signature for the NFT.
- Someone then purchases it and pays both the minting charge and the purchase price (if you’re a cool dude, the minting fee can be included in the price).
Step by Step Guide to Do Lazy Minting on Rarible
- Go to Rarible.com and log into your account by signing in to your wallet.
- If this is your first time using Rarible, you’ll also have to set up your profile and connect it to your wallet
- After doing that, we have to click on “Create” to start the process of creating a Lazy NFT Minting.
- So the thing we have to do here is to choose between single or multiple collectibles.
- So let’s click on “Single”.
- Now here, we have to upload the file we want to transform into an NFT.
- The next step is to choose to sell this NFT for a fixed price, if we are gonna leave it open for bids, or if we
are gonna run a timed auction.
- In this case, this NFT is going to be sold for a fixed price of 0.008 ETH.
- Notice that there’s a 2.5% fee, but that’s only required to be paid when you sell the item.
Lazy Minting Solana
There is the same step to do lazy minting on Solana.
Alright, everyone, that’s all we have for today. If you really got something out from this article, if this article helped you go through the minting process on Rarible, Opensea or Solana. All we are requesting you to please donate any amount. 1 USD to 10 USD.