NFTs are the new craze in the crypto world, but the process of making them is still a lot of work. A long, costly, and confusing headache.
This is based on data from Chainalysis. In 2021, users moved more than $40 billion worth of crypto to Ethereum’s nonfungible token (NFT) smart contracts. This shows how quickly NFTs are becoming popular, but there are still a lot of problems when it comes to minting these tokens. One startup is taking care of all the behind-the-scenes work.
During the last few months, NFTs have been all the rage. Most experts say that the trend is going to last because they can change a lot of things, from digital art to supply chains.
There have been a lot of changes made to the nonfungible market because of how quickly it has grown, but minting these tokens is still a lot of work for people who aren’t very tech-savvy. For example, on Ethereum (ETH), where most NFTs are made, users first need to have Ether in their digital wallets and be willing to pay gas fees to make NFTs.
Fortunately, today, even the most difficult tasks in the tech world have short cuts. Tatum is offering one for making NFTs. As a fast-growing platform that simplifies blockchain development, Tatum launched NFT Express recently. This unique feature allows developers and businesses to mint NFTs without writing or deploying smart contracts, and it can be used by both individuals and businesses. In order to pay the gas fees, people don’t have to buy cryptocurrency at the start.
The goal is to make NFT Minting simple
A paid Tatum plan lets users make as many NFTs as they want. They can do this as many times as they want. As of right now, NFT Express works with Ethereum, Polygon (MATIC), Binance Smart Chain (BSC), Celo (CELO), and Harmony (HARMONY) blockchains (ONE). Using an API call, the NFT is made in a matter of seconds, and the gas fees are paid for by the Tatum plan.
Users of Tatum can make a lot of tokens without having to invest in crypto. The feature is great for small businesses and people who want to use the NFT trend to their advantage but don’t know how to start or don’t want to deal with all the problems that come with making NFTs. It is also good for big businesses that want to mint NFTs on a large scale on multiple blockchains, so they don’t have to worry about having enough crypto on each one.
It’s not just a marketing move to use NFT solutions because these tokens can solve real-world problems, such as copyright or how to make money. Big companies are already looking into the benefits of nonfungible tokens, often in the context of the metaverse, and they’re looking into how they could work for them. Walmart, for example, has been working on patents for NFTs and its own cryptocurrency, and YouTube is thinking about how to use NFTs to help content creators make more money.
CEO Jiri Kobelka talks about how they made the feature:
“We realized we could completely eliminate most of the difficulties enterprises are facing and provide a simple, secure, and seamless NFT solution for whatever they wanted to create. Now, they don’t have to hire blockchain developers, and their gas fees are covered by their Tatum plans. We believe NFT Express will open doors for countless enterprises and developers alike, and we’re extremely excited to unveil it to the public.”
NFT Express shortens the time to market, costs, security, and regulatory issues that often come with building NFT apps by making them easier to deal with.
The development platform that made it all was the one that did it.
Over 40 different blockchain protocols and thousands of different digital assets can be used on Tatum, which makes it easier for developers to work with them.
Over the last year, its users have grown from 4,000 to more than 18,000. Today, it has more than 1,000 NFT markets on its servers. As many as 500 NFTs are made per second by apps built on Tatum at peak times. It was Tatum who won the Startup World Cup European Finale and the chance to go to the Global Finale in 2022, so he can go there.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.