NFT Lazy Mint is similar to general NFT Minting but here the NFT Creator need not pay the Gas Fees upfront. The NFT Creator uploads the Image & Metadata to Sign it with the Blockchain Private Key. The Image and Metadata are not yet minted to the Blockchain. When the user decides to purchase the NFT it is Minted to the Blockchain.
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Key Features
No Upfront Gas Fees to Mint
Lazy Mint NFT and do not pay any Gas Fees upfront. NFT creator only list the tokens on the Blockchain and the buyer pays the Gas Fees.
High NFT Liquidity
Lazy Mint NFT so that users will be purchasing the NFT immediately after they are Minted. This improves liquidity majorly.
Uplifts Content Creators
Content Creators who want to Mint NFT and Earn through its sale but do not have funds to pay Gas Fees can Lazy Mint NFTs.
Avoid Loss
Since the NFT Minting Gas Fees are covered by the NFT buyer, no loss is incurred to NFT Creator.
Blockchain Security
Lazy Mint NFT like generic Minting has all the security features of the Blockchain. The entire process is secure and no data is stolen or manipulated.
Transfer of Ownership
Lazy Mint NFT and get ownership of the NFT immediately. The buyer who is paying for the Gas Fees will be the new owner of the NFT.
How does NFT Lazy Mint work?
The user uploads Image & Metadata and signs it with the Private Key of the Blockchain. Until permission is granted for Minting which is done when the Sign which is Encrypted and the Minting request match. The Image and Metadata are not stored on the Blockchain till the Minting request is authorized. When a Buyer of NFT sends a request for Minting, the Image and Metadata are Minted to the Blockchain. Once this process is completed the NFT is Minted to the Blockchain. Lazy Mint NFT is instant and secure.
Benefits of Lazy Minting
No need to worry about Gas Fees
Lazy Mint NFT and do not pay the Gas Fees upfront. Basically, you do not need to pay any Minting Gas Fees.
Eliminate Losses
NFT Creators can face loss if the Minted NFT is not purchased. Lazy Mint NFT completely eliminates these losses.
Multiple Blockchain
Lazy Mint NFT on multiple blockchains like Ethereum, Polygon, BSC, Algorand, and Solana which usually have higher Gas Fees.
Wallet Support
The Lazy Minted NFT can be stored on all Crypto Wallets. There are no limitations to the Wallets when it comes to holding these NFTs.
How secure is Lazy Minting?
Lazy Minting is a flawless method where the NFT Creator need not pay the Gas Fees upfront. The entire process is Full Proof and there is no risk of data theft or manipulation. From the first step where the user uploads the Image and Metadata and Signs it with a Blockchain Private Key till the NFT Ownership is transferred everything is tested and secured. As soon as the NFT is Minted its ownership is transferred to the buyer securely.
Which Blockchains allow users to Lazy Mint NFT?
Users can Lazy Mint NFT on Ethereum, Polygon, BSC, Algorand, Avalanche, Solana, Tron, Hyperledger Sawtooth, R3 Corda, Tezos, EOSIO, Stellar, ConsenSys Quorum, XDC Network, Corda, Klaytn, Celo, Harmony, and NEAR. Irrespective of the chain the basic logic of Lazy Minting is similar. The NFT Creator need not pay the Gas Fees upfront.
How much Gas Fees can be saved if user Lazy Mints NFT?
The NFT Creator saves all the amount needed to be paid for the Gas Fees. When NFT Creator opts for Lazy Minting they do not pay the Gas Fee upfront. This does not mean that no Gas Fees are paid but rather the Buyer of the NFT pays it during the purchase. The NFT buyer will pay the NFT amount plus the Gas Fees while making the purchase.
