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The Problem
The biggest ethical issue behind NFTs and multiple blockchains in Gas Fees. The cost of minting projects, especially processing and validating transactions is expensive. The mint of popular NFTs hike up prices resulting in millions of dollars being paid.
We have seen gas wars ranging from 2,000 to 10,000 gwei, possibly up to 20,000. These gas wars are costly due to its demand. Ethereum fees in the past couple of months have been consistently high driving developers to find ways to reduce it.
The Solution
One of the best known solutions is ERC-721A. What is ERC-721A? This new technology enables users to pay less gas fees. Minting multiple NFTs will bear essentially the same cost as minting a single NFT. This is made possible through the following optimizations:
To learn more about these optimizations, visit www.azuki.com/erc721a.
AKINGS x Azuki
With AKINGS NFTs minting soon, we wanted to work on reducing gas fees to create the best possible experience for our community. We’re happy to announce that we’ve found a solution through a trusted implementation created by Azuki.
With the introduction of ERC-721A by Azuki, AKINGS is utilizing the improved technology of ERC721A to allow gas savings of multiple NFTs in a single transaction.
To compare and visualize the difference between Gas Feess on OpenZeppelin’s ERC721 Enumerable (the standard and default system) vs. ERC721A, here’s a table of Gas Fees and Gas Savings per mint. Please note that these are merely estimates as gas is constantly changing.
Image Source: Azuki
Conclusion
We highly encourage everyone in the ETH and Metaverse ecosystem to join the cause for a more ethical and sustainable Web3. Let us build responsible communities.
Keep up to date with the latest news on AKINGS NFTs by joining our community on Discord.
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