All Collections
NFT Basics
Basics of NFTs
How much minting an NFT costs?
How much minting an NFT costs?
Ev Tchebotarev avatar
Written by Ev Tchebotarev
Updated over a week ago

Putting data on Ethereum can be expensive because of the combination of high gas price and the price of Ethereum. When you mint NFTs on Ethereum, you compete with other users of the network to put your data on the blockchain — with the total space available amounting to about 19 transactions per second (as of August 2022).

Over time, upgrades to Ethereum should make transactions smaller, more efficient, faster, and subsequently, much cheaper.

In August 2022, Sloika achieved a record for the lowest mint (creation) of an NFT, at just $0.35, which is about 1000 ( ! ) times cheaper than what minting on some competitor platforms cost in mid-2021.

How much does it cost to mint on other platforms?

On Sloika, a whole series (10-30 photos) might cost you about $15-50 USD total, or about $0.5-5 per NFT.

To list one photo on a similar platform, such as Foundation, might cost you 5 to 20 times more, between $10-50 USD per photo, depending on gas.

The difference in cost is because of Sloika's smart contract optimization. Sloika consistently has the lowest cost to mint a photo series from all the platforms available.

If the gas is high, Sloika will indicate that during minting, so you can either wait or submit a transaction with gas limit.

Did this answer your question?