Rarible, a marketplace of non-fungible tokens (NFTs), has revealed a new feature that allows users to create NFTs for free. The company said in an announcement the so-called "lazy minting" feature creates NFT not at the moment of creation, but at the moment of purchase.
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"It is the buyer who pays the gas fees when purchasing the item. Until then, your NFT is listed on the marketplace just like any other NFT, and the data is being safely stored on IPFS," the company said.
However, if a user wants to burn the minted NFT, he or she will need to pay the gas fee as with the regular NFTs. The lazy minting functionality is currently available for Rarible default collection only. As iHodl earlier reported, Sotheby's has expanded its support of NFTs with the launch of the so-called "Sotheby’s Metaverse."
The British auction house says the new platform allows users to view digital art available at auction. Sotheby's plans to sale a collection called "Natively Digital 1.2: The Collectors" from Oct. 18 to 26. The collection features 53 works from 19 NFT collectors.
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