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How much does it cost to create an NFT? That’s a question that we get asked a lot.
And it’s not an easy question to answer because the cost of creating NFTs varies depending on which blockchain you use, how complex your image is, and how many mints you need.
Here’s a short answer:
The cost to create an NFT varies from $3 to $80. These come from art creation, no-code tools, minting fees, and marketplace fees. This cost is highly dependent on the complexity and approach to creating artwork, the use of no-code tools, the blockchain used for minting, and the choice of the NFT marketplace.
In this blog post, we’ll break down all the costs associated with creating NFTs so you can have a better understanding of what goes into making them!
What Are The Costs Involved in Creating an NFT?
- Creating the Artwork
- Generating the NFT Collection
- Listing Your NFT Collection on a Marketplace
1. Creating the Artwork (NFT Creation)
The first cost you’ll incur when creating an NFT is the cost of creating the artwork itself.
If you’re not an artist, you can hire one to create a piece specifically for you. Or, if you’re feeling creative, you can create the images yourself!
Here are a few ways where many NFT creators create their artwork images:
- Hire freelance NFT artists on Fiverr or Upwork
- Design images on Adobe Illustrator/Photoshop
- Design images on Canva
- Use an AI Art Generator
Since this is only the pure design phase of creating an NFT, there won’t be much involvement in coding, which usually costs more.
The bulk of your costs here would be paying someone to get your designs ready and the design software that’s needed to create the NFT layers you require.
Here’s how much it will cost you to generate the artwork:
- Hiring freelancer NFT artists ($10-$70)
- Adobe Photoshop Software ($20.99/month)
- Adobe Illustrator Software($20.99/month)
- Canva Design Software ($0-$164.99/year)
- AI Art Generator ($20-$50/month)
On average, it will cost you between $20-$100 to generate all your NFT artwork images.
2. Generating the NFT Collections
Once you have your artwork ready, you’ll need to generate the NFTs using either coding or no-code NFT generators.
The OneMint NFT generator allows you to generate your NFT collection by just uploading the artwork on their platform. They also allow direct minting onto the blockchain from within the platform.
Here’s a good guide from OneMint to show you how easy it is to use it:
Here’s how much it will cost to generate an NFT collection:
- Using a no-code NFT generator (USD $199/collection)
- Hiring a smart contract developer to mint NFT collection ($300-$500/collection)
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Once your NFT collection is generated to have all the combinations you need, you’ll need to mint them on a blockchain to complete the NFT creation process.
The NFT minting cost will vary depending on which blockchain you’re using.
For example, if you’re using the Ethereum blockchain, you’ll need to use a digital crypto wallet like MetaMask to mint your NFT as an ERC20 token.
Minting on different blockchains will have different costs associated with it. This is dependent on the blockchain technology of each network.
For example, minting on Ethereum will cost you huge gas fees to approve blockchain transactions, which can range from $10-$100, depending on network traffic.
However, with the upcoming changes from Proof-of-Work to the Proof-of-Stake model, prices may start decreasing! I’d recommend checking out the ETH Gas Station for the latest/current prices.
On the other hand, if you’re minting on the Polygon blockchain, you’ll require fewer transaction fees.
White-label marketplace solutions like Origin Story allow creators to mint NFTs on Ethereum or Polygon. As previously mentioned, NFTs are significantly more expensive to mint on Ethereum, but the NFT market is larger on Ethereum than Polygon.
Both options are important depending on the type of NFT you mint and your target audience.
It’s also important to remember that Polygon NFTs are less expensive to trade, so it’s the ideal solution for less expensive NFTs. When users want to list or sell an NFT on Ethereum, they must spend at least $10 per transaction.
Consequently, Ethereum NFTs are better for high-value digital assets.
If you need a cheaper option for NFT minting costs, the Solana blockchain is another great choice. The Solana NFT marketplace is huge as well and is rapidly growing in the NFT space.
The gas fees involved in minting NFT collections on Solana are much cheaper, ranging from $0.03- $0.08 per NFT.
If these costs are still too high to mint your entire NFT collection, you may want to adopt a different approach, such as gasless minting.
You can delay your minting process by using lazy minting, where NFTs are only minted upon sale by a buyer. This way, you’ll only pay for those that sell out.
This approach is good if you know that demand for your own NFT collection may be smaller.
3. Listing Your NFT Collection on NFT Marketplaces
Once your NFT is minted, you’ll need to list it on an NFT marketplace in order to sell it.
An NFT marketplace is a platform to list your new collection on the NFT market. It will also be where your buyers will be minting NFTs from.
Each NFT marketplace has different listing fees, so be sure to check how much it will cost to list your NFT before you do!
Some of the most popular NFT marketplaces are:
If you want to list your NFT on multiple platforms, you’ll need to pay the listing fees for each one.
The good news is that some NFT marketplaces, such as Rarible and OpenSea, don’t charge any listing fees!
However, they do take a percentage of each sale (2.5% on OpenSea and 1% on Rarible), so keep that in mind when you’re selling your NFTs.
To sum it all up, here’s a quick breakdown of how much it will cost you to create an NFT project in 2023:
- NFT Artwork: $20-$100
- No-Code NFT Generator: $199/collection
- Minting Fee Costs (varies by blockchain): $0.03-$100 per single NFT
- Listing Fees (varies by NFT marketplace): $0-$100+ per collection
- Marketplace Middleman fees (varies by NFT marketplace): $3-$100 per NFT
How much does it cost to create a 10000 NFT collection?
The cost to create a 10000 NFT collection ranges between $40 to $100. This cost includes costs from a no-code NFT generator, minting costs, listing fees, and marketplace fees.
However, the cost of the NFT depends largely on the pricing plans of your NFT generator.
Some NFT generators price their generations based on the number of images created. Others like OneMint provide unlimited generations at a fixed fee.
How much does it cost to make an NFT on Ethereum?
The cost to create an NFT on Solana ranges between $3 to $80. This cost includes costs from a no-code NFT generator, minting costs, listing fees, and marketplace fees. Most of the cost will come from the NFT generator.
How much does it cost to create an NFT on Solana?
The cost to create an NFT on Solana ranges between $5 to $50. This cost includes costs from a no-code NFT generator, minting costs, listing fees, and marketplace fees. Most of the cost will come from the NFT generator.
Minting costs are lower than Ethereum since the Solana blockchain has low transaction fees.
How can I create an NFT?
An NFT can be created through the use of no-code NFT generators. NFT creation is made simpler with the use of such NFT generator tools, and anyone can create NFTs without coding knowledge.
Here are the 5 steps to creating NFT art without coding:
- Plan Out Your NFT Traits & Rarities
- Create the Art Images
- Generate Your NFT Collection
- Mint Your NFT on a Marketplace
- Promote Your NFT Art Collection
Can you create an NFT for free?
Yes, you can create an NFT for free! You can use free no-code NFT generators to generate your collection. However, you will still need to pay minting costs and marketplace fees when listing your NFTs.
And that’s it! I hope this guide was helpful in explaining how much it costs to create an NFT.
As you can see, there are a lot of different costs associated with creating an NFT. The final cost will depend on which blockchain you use, how complex your image is, and how many mints you need.
In general, you can expect to spend anywhere from $20-$500 to create and mint an NFT collection.
However, if you’re minting on a popular blockchain like the Ethereum blockchain to create an NFT, you may spend more due to high gas fees!
We hope this guide has helped give you a better understanding of how much it costs to create an NFT. Good luck, and happy creating!