Rarible platform launches zero-cost NFT casting function, users can create NFT works for free

Non-fungible tokens (NFT) Market Rarible has launched a new feature called "Lazy Casting", which promises users to create irreplaceable tokens at zero cost-while enhancing environmental sustainability on the platform.

Contrary to the traditional method of storing the data in the blockchain immediately after it stops spraying, Rarible announced on Monday that its new planned NFT is "rise at the moment of creation, but at the moment of purchase. Buyers pay for gas when they purchase goods." In this case, the data will be stored on a decentralized peer-to-peer storage system called IPFS.

Rarible platform launches zero-cost NFT casting function, users can create illustrations of NFT works for free

In the past year, with the influx of new retail participants into the NFT field, a large number of people have been affected by the continued high gas fees of the Ethereum network, increasing their barriers to entry and transferring many investors to alternative blockchains , Such as Solana.

According to data from Rarible Analytics, the current average gas price of a single ERC-721 token minted on Rarible is 0.022 ETH, which is equivalent to US$82.26 based on the current price.This is actually a good time to mint coins on the platform. Compared with the frequent high network activities, gas costs may soar to hundreds of dollars.

This is why the implementation of Rarible will be welcomed by the community as a positive move, although its potential impact on the wider market is unclear.

Popular cryptocurrency exchanges Coinbase, FTX, and Binance are the latest batch of crypto companies that have expressed interest in building products and services in the NFT field. Coinbase's upcoming NFT market has attracted huge social attention, with 1.1 million emails registered in the first 24 hours.A week later, the number is now 2.35 million.

To further illustrate this number, OpenSea, the leading NFT market, has recorded more than 263,000 unique users in the past 30 days, in addition to a total transaction volume of more than US$3 billion.

According to its latest shareholder report, Coinbase recorded 68 million verified users and 8.8 million monthly active users in the second quarter of 2021.

DappRadar's analysis data shows that Rarible recorded 10,100 unique users within 30 days. The platform's native token RARI has experienced positive growth in the past month, rising by 80% from a one-year low in late September to its current value Approximately $22.20.

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