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How is the cost of minting an NFT calculated?

First off, the cost of minting an NFT is calculated separately from the cost of selling the NFT. As we will see below, there are some common drivers ( prominently gas fees ), but other factors can come into play as well depending on whether a new NFT is being minted or an existing NFT is being sold.

What is a 'gas fee' & how does it work?

As the minting process continues, there will be a “gas fee.” The gas fee accounts for the cost of working with the Ethereum blockchain. Note that the fees are not collected by the Foundation website itself. When the fee is paid, the minting process officially starts.

What are the fees for resale of NFTs?

For producers selling their NFTs, Rarible charges a commission of 2.5% but no additional fees. Rarible will also allow creators to charge up to 30% in royalties on the resale of NFTs. 4. Nifty Gateway Nifty Gateway charges sellers a 5% commission on the value of each transaction and 30 cents on all secondary transactions.

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