For the past month, we have been testing a new technology on OpenSea to help users create non-fungible tokens (NFT) without paying gas fees. This is the first completely free NFT maker, and it is now completely running on the Ethereum blockchain.
Although there are now some tools to help developers and unaware producers to create NFTs, these tools require users to pay gas fees to deploy smart contracts, and each NFT minted must pay gas fees. On different platforms, the gas fee for casting an NFT ranges from US$2 (usually) to US$32 (when the chain activities are crazy). If you are an artist and cast 10 NFTs every month, it will cost you about $100 every month.
Now that we have released the "collectibles manager" on OpenSea, you are now free to create your own NFT without paying any gas fees. There is no gas fee to sell these NFTs-you only need to initialize your OpenSea account once.
What is its principle and how do I use it?
This new collectibles manager allows creators to avoid prepayment of gas fees, because the NFT has not been transferred on the chain, and the gas fee is not required to be paid until the NFT is bought or transferred on the chain.
We call this "lazy minting". It unbinds the NFT's on-chain issuance from the metadata.
Even collections of collections can now be produced for free and instantly. First create a new ERC-1155 collection of hand and thought of it!
After creating the collection, select the collection, and you will see an "Edit" button and an "Add New Item" button (as shown in the figure above).
The Edit button can:
- Configure your logo, social media links and display settings
- Configure the commission you charge for the first and subsequent sales
- Choose the currency type supported by your store (including social tokens)
The Add New Item button can help you create a new NFT.
When creating an NFT, you need to encode your address and its total supply in the ID of the token. In this way, others will not expect you to make more, and buyers can also calculate the hard upper limit guaranteed by the code.
If you want to deploy your own contract, manage the way these items are displayed on OpenSea, or you need to set the currency type and sales commission for the contract you created on other platforms (such as Mintbase and Rarible), you can use the same Complete all operations on the interface!
The NFT made with the Collectibles Manager follows the ERC-1155 standard. This standard will help us achieve gas-free production and add new features in the future...
Note: Even if these NFTs are not on the chain, they can still be sold on any platform. The smart contract will return the correct balance for each type of NFT you create, which is all public. As for why you want to sell it on OpenSea, you can see here.
How can I get my collection certified?
When you create a collection list on OpenSea, an "unverified" label will appear on your NFT, and your collection list will not appear in the search bar and sidebar.
To get your list certified, click the "Edit" button shown above (just on your list page), drag to the bottom of the page, and click "Submit for verification". It may take us a day to check your work, but once we certify that this list complies with our terms of service and does not copy other people’s work, you will receive an email reminder:
Other functions of the Collectibles Manager
In addition to allowing users to create NFTs for free and instantly, the Collectibles Manager also includes a series of new features:
- The collection list can be cooperated by multiple people! Authorized editors can create new items and change the settings of the list
- The payment page has been refactored and redesigned. Now you can see all secondary payments more easily, and you can also see how much commission you get from single NFT and bundled NFT sales.
Results of the November beta
To solve the loopholes and improve this new collection manager, we released it to a small number of users in advance within a month.
The idea of this ER1155 maker alone has aroused great interest. Thirty days ago, 80 creators produced 1,000 NFTs for free, and accumulated 58 ETH in more than 506 sales. On average, each tester earned $400 in a month.
One creator donated 12 ETH to charity, and two outstanding virtual world artists handed over the collection to a new manager.
Why do we do this
Although most blockchain applications today are only related to speculation, the NFT art market is different. It is real.
In the second half of 2020 alone, the transaction volume of artwork NFTs and user-created content increased from US$1 million per month to more than US$20 million. In 6 months, a 20-fold increase!
The number of sales people has also increased by more than 500%, from 1,395 in June to 8,770 today.
There are also some recent statistics:
- Art NFT sellers have accumulated an average of 9.7 ETH per person in the past 6 months. At a price of 650 US dollars (not the current market price), that means that the monthly income of each wallet exceeds 1000 US dollars.
- Only calculating the income that creators get from their own NFT, creators have received an average of 5.4 ETH in the past 6 months. In the art category alone, each artist sold an average of 9.7 ETH ($6,300). (The average revenue from primary sales is 7.4 ETH, and the average secondary sales is 9.1 ETH).
- In the past 6 months alone, 45 artists have earned more than 100 ETH in first-level sales. These super artists can get an average of 44 ETH per month. In other words, the first-level sales income of each super artist is 28,000 US dollars per month. For this elite group, this is equivalent to an annual income of 340,000 US dollars.
- There are now 12 NFT millionaires, or 12 wallets, who have sold NFTs worth more than $1 million. The champion is Sorare, who sold $6 million. An NFT trader claimed to have made $650,000 with a deposit of $600.
A new industry is being born, and it is unprecedentedly equal on the basis of fun, safety, and home. No matter where you are, what language you speak, and which bank you usually use, you can start a viable and innovative business.
As long as you have creativity, as long as you have access to the Internet.