How to Create Millions of NFTs Without Holding Crypto

Many businesses around the world are exploring ways to take part in the booming non-fungible token (NFT) market, which has been sweeping the digital world over the past year. But when they try to get set up to create and sell NFTs on a large scale, they can run into insurmountable hurdles.

The first of these is due to how NFTs are paid for. To sell NFTs, you need to pay for the blockchain transaction fees (gas fees) to create them. To pay for them, you need to have cryptocurrency available at a blockchain address on the blockchain on which you’d like to create NFTs. If you want to create NFTs on multiple blockchains – you guessed it – you have to have different cryptocurrencies available at multiple addresses on multiple blockchains. For many enterprises, especially those without experienced blockchain developers onboard, this is a significant issue.

Once businesses start buying and exchanging large amounts of crypto and sending it to various blockchain addresses to pay for their gas fees, they run into the next set of hurdles: regulations. Cryptocurrency regulations in each country are different and require the payment of taxes in many countries on any potential or perceived gains from crypto-trading activities. Some banks will even shut down accounts if they are used for purchasing crypto.

This is a nightmarish scenario for enterprises that want to create thousands or millions of NFTs and is enough to make many abandon their NFT ambitions altogether.

Smart contracts: Difficult and expensive
A further issue is that in order to create NFTs, companies need blockchain developers to code their own smart contracts, which are executable programs on the blockchain that give NFTs their unique properties. Finding blockchain developers that are both experienced and available is increasingly difficult and requires a significant amount of budget to keep them on board.

One blockchain development platform has created a solution. Tatum has just launched a feature that allows enterprises to create NFTs on any of five blockchains instantly, without holding crypto, and without creating smart contracts.

Smart contracts are no longer an issue, as Tatum’s experienced blockchain engineers have coded, audited and deployed them to Ethereum, Polygon, Celo, Binance Smart Chain (BSC) and Harmony. These are highly secure, tried and true, and ready to use for any enterprise anywhere. This allows companies to create NFTs instantly on any or all of these blockchains.

All that is needed is a paid Tatum plan, whose monthly rate will be used to cover the gas fees for creating NFTs. There is no need for companies to buy or exchange crypto themselves, and no regulatory or compliance issues as a consequence.

With Tatum’s developer-friendly JavaScript SDK and API, NFT minting can easily be integrated into applications, platforms or marketplaces with just a few lines of code. Existing developers will be able to implement NFT functionality in a matter of minutes.

This model is infinitely scalable, as Tatum’s next-gen infrastructure allows the sending of up to 200 NFT mint requests per second — a rate that even the most ambitious apps will have a hard time exceeding.

Furthermore, Tatum’s NFT Express guide allows in-house developers to quickly get up to speed. They can sign up for an API key in the Tatum dashboard, which will allow the use of all 300 features on any supported blockchain.

Any enterprise that would like a little more help getting started, can send an email to [email protected], and one of the solutions specialists will get back immediately.

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