Secret Revealed: The Real Cost Of Launching An NFT Collection?
Non-fungible tokens (NFTs), blockchain-based digital assets which are unique and non-divisible, have become a hot topic in the crypto space and NFT companies.
The main focus here is on investment because, in addition to all necessary fees and admin expenses, you’ll also have to pay for any NFTs that you create and blockchain app development services. In this article, we’ll see how much it costs to create an NFT collection.
Standart NFT Collection Minting with custom smart contract development. And some decide to dive into NFT marketplace development. But the majority are looking to launch their own NFT collection. So, let’s focus on how much it costs.
Some examples of the NFT Collections:
Breakdown of NFT Cost
The first thing that you should know about NFT development is that you may have to pay some fees when you create your NFTs, depending on which site you use.
Our blockchain technology company, uses gas-optimized smart contracts to assign ownership and manage the transferability and get the best final cost for a project. And we also recommend following our example. And if you lack a smart contracts developer, we have experienced smart contracts developers in our team.
As a blockchain development company, we have to say that it is possible to avoid transaction fees as there are new platforms that allow you to defer fees for buyers. For example, you can defer them or create NFTs that do not include blockchain fees. And when you need to pay a commission, it doesn’t have to be expensive. Plan right so you can spend as little as possible to start this process.
Therefore, NFT Minting costs are divided by complexity:
|Standart NFT Collection Minting with custom smart-contract||2-5 days||$500-$1000|
|Premium NFT Minting smart contract with whitelist, delayed reveal, and other features that you may need in marketing||2-5 days||$1000-$2000|
|Standart NFT Minting Website||1-2 weeks||$3000-$4000|
|Complex NFT Minting Website with custom integrations||3-5 weeks||$5000-$8000|
If you are curious about NFT minting costs, our blockchain development services company wants to dive in a little bit deeper to tell you everything about minting and estimate expenses.
For this project, our OmiSoft creative team worked with the female founders and focused on creating an inclusive web3 through its inspirational collection, global community and empowerment of inspirational individuals. The main goal was to create a website to mint NFT assets and build an international community of web3 entrepreneurs.
|Solution (Design)||Our design team prepared design mockups and our client approached us with the idea to develop an interactive landing page for the new NFT collection. It had to have animated elements that would reflect the style and mood of the collection, as well as the owners of the collection. And at the same time it had to demonstrate the main idea of feminism and the power of female energy that they promote.|
|Solution (Development)||A fully functional landing page with animations, NFT gallery and the possibility of minting NFT was created.|
|Solution (Technologies used)||Typescript |
Web services of the digital ocean
Solidity Smart Contracts
|The result of the work||The project successfully started with a marketing campaign. It is now preparing the audience for the NFT minting stage and will soon be developed further to work with Blockchain technology.|
|Stats||Team: 5 people |
Components and stages: design, development of Frontend, Backend and admin panel.
What is NFT Minting?
Creating your NFT collection is the biggest part of getting involved in the crypto-collectibles market. This could be digital art, Tweets, memes, books, audio, video, images, or anything else that qualifies as part of the NFT collectible space. Many top crypto companies swear by NFT and invest a lot in obtaining digital assets in various ways, as the list of existing NFT opportunities is still growing and changes all the time.
Before you start minting NFT, you’ll need to check if you have a good crypto wallet and pick a specialized platform to which you’ll upload your content. If you don’t have one yet, book a consultation with our blockchain app development company. When you’ll get everything in place, your content could be transferred to the blockchain and you can list your minted NFTs for sale.
You can do fixed pricing, auctions, and more. Here are some other NFT developers tips for minting and creating your NFT collection to help keep the costs down:
- With vast experience as a blockchain company, we recommend minting at night, as you can benefit from a less busy network, and therefore lowers fees. The other time you should avoid is weekends, as that’s the period when the network is swamped. So, weekday nights are pricewise the most beneficial.
- Choose the right currency. Make your research, as sometimes, there’s a big difference. For instance, Polygon is cheaper upfront on gas fees but it’s less popular than Ethereum.
- Our blockchain technology company, uses gas-optimized smart contracts to assign ownership and manage the transferability and get the best final cost for a project. And we also recommend following our example.
The world of cryptocurrency is still very new, but non-fungible tokens are becoming quite popular and blockchain app development, as well as crypto projects, are booming. With this cost guide, you should be able to create your collection without breaking the bank.
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If you have any ideas and questions about launching NFT collections and their cost, or you are ready to create NFT minting website, hit OmiSoft up! Our blockchain application development team is ready to create optimized solutions to fulfill your needs.
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