Over the past few years, the NFT market has taken the world by storm. The increase in the NFT market is an indication that many people are showing their interest in NFTs. Digital artists, actors, singers, tech giants, and many other popular personalities are betting their luck on NFT. This is another way to interact with their fans and sell their art for millions of dollars(NFT marketplace).
If you know what are NFTs and actively follow them on social media platforms then you might know about minting NFTs. NFT minting means creating a digital token and selling it on the NFT marketplace. Many people are familiar with this term while others still don’t know much about it. Do you know, the cost to create NFT and sell it on the NFT marketplace like OpenSea, Rarible, and many more. Here we have covered in detail how much does it cost to create NFT?
How much does it cost to create NFT collections?
This is the most asked problem in the NFT space. People want to create NFTs but they don’t know how much will they cost them. You would find many articles covering the highest-grossing NFT sale but they failed to explain the cost they incur to create these NFTs.
If we have to lay it in simple terms, the cost of creating NFT depends on different NFT marketplaces. The size and quality of the art also play an important role in defining the cost of creating NFTs. To make NFTs affordable many artists create NFT art for free while other artists use their own art for NFT.
The very first step is deciding on the design of NFT. It solely depends on creators and their budget. Creating NFT artwork is as affordable as one dollar, regardless of its sale value. The most difficult part about this is deciding the percentage of royalty. And the higher percentage is better.
Now that you have designed the NFT, the next step is to decide the cost of creating NFTs. As we mentioned earlier, the cost of NFT depends upon the type of NFT marketplace. Depending on the complexity of the NFT project, this cost must be anywhere from $8 to $150.
Another major part that you must look into is the format. It solely depends on the creator and the type of format he/she wants to use for their NFTs. The artwork of NFT determines its format. Make sure that the format supports all kinds of media. The device includes desktop as well as mobile. The cost of developing NFTs is based on a single NFT item, however, you can create various different versions of it.
The transaction cost is more than creating the cost of NFTs. The blockchain network store all the information related to NFT transactions. You might not need to pay any charges while creating NFT, but the transaction charges some amount. While buying and selling your NFTs you need to pay some fees. The cost to transfer a single NFT from one platform to another is $15, depending upon the blockchain network you are using.
About Krazy Kong NFT
Human rule and expansion across planet earth have been leading to devastating environmental consequences. Deforestation is exacerbating climate change and animal habitat loss.
Krazy Kong is one of the modern apes who also lost his family and home during the reign and expansion of man. He is trying to forget his tumultuous past and live in modern human society. He has absorbed a huge amount of information through various media such as television, movies, and the Internet. One of the aims of our Krazy Kong ape NFT project is to draw attention to environmental and social issues like deforestation, animal habitat loss, inequality, and conflict within and between animals and humans. If you want to buy NFT collections in 2022 then Krazy Kong is for you.