Zora Helps Creators Mint for Free
Zora will now allow creators to mint NFTs onchain for free, shifting the initial gas cost to the first minter.
The Deets
- Elimination of Initial Gas Fees: Creators no longer pay upfront to create onchain.
- First Minter Pays: The first person minting an edition shoulders the gas cost.
- Protocol Rewards for Minters: 0.000111 ETH reward for every subsequent mint of that edition.
- Earning Possibilities: Both creators and collectors can earn ETH on Zora.
The Bulk
Zora is dramatically changing the NFT landscape by allowing creators to mint onchain without any initial cost. Previously, a barrier to entry for many creators was the often exorbitant gas fees required to mint NFTs. Zora's innovative solution transfers this cost to the first minter of an edition.
In exchange for covering the gas cost, the first minter receives Protocol Rewards. Specifically, they are rewarded with 0.000111 ETH for every subsequent mint on that edition. This unique mechanism is facilitated through Zora's mint fee structure.
The platform emphasizes simplicity and mutual benefit: Creators can freely upload their imaginations and earn ETH, while collectors aiding these creators can also earn in return.
🧐 Wait, What?
Minting gas fees are essentially the cost to execute operations, like putting an artwork onchain. With Zora's model, creators don't pay this when they first mint - a collector does, but they're rewarded for doing so.
🎬 Take Action
Are you a creator or a collector? You can upload, mint, and earn on Zora today.
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