Recent Chainalysis data showed that users moved over $40 billion worth of crypto to Ethereum’s nonfungible token (NFT) smart contracts in 2021. While this reflects the rapid growth of NFTs, there are still many obstacles when it comes to minting these tokens, and one startup is addressing this problem by doing all the behind-scene processes.
NFTs have been all the rage during the last few months, and most experts agree that the trend is here to stay given the transformative potential for a lot of industries, from digital art to supply chains.
While the rapid growth of the nonfungible market has fostered the development of more intuitive processes to help onboard a wider range of users that are not necessarily tech-savvy, minting these tokens is still a headache for the uninitiated. For example, on Ethereum (ETH), where most NFTs are created, users have to first hold Ether in their digital wallets and be ready to pay gas fees.
Thankfully, most challenging processes in the tech realm quickly find shortcuts nowadays, and Tatum is offering one for NFT creation. Tatum – a fast-growing platform that reduces the complexity of blockchain development – has recently launched NFT Express, a unique feature that enables developers and enterprises to mint NFTs without coding or deploying smart contracts. Users don’t have to go through the initial step of buying crypto for the gas fees.
Making NFT Minting Easy
The feature is available for users with a paid Tatum plan and allows them to mint as many NFTs as they like. Currently, NFT Express is compatible with five blockchains: Ethereum, Polygon (MATIC), Binance Smart Chain (BSC), Celo (CELO) and Harmony (ONE). With a simple API call, the NFT is minted within seconds, and with the gas fees being paid from the monthly credit allotment in the Tatum plan.
Tatum’s users can mint countless tokens without any crypto investment. The feature is perfect for small enterprises and individuals that want to leverage the NFT trend to their benefit but don’t know where to start or simply prefer to avoid all obstacles associated with NFT creation. It is also suitable for larger enterprises that want to mint NFTs at scale on multiple blockchains, allowing them to instantly mint as many NFTs as they want without worrying about holding adequate amounts of crypto on each blockchain.
Implementing NFT solutions is not simply a marketing move, as these unique tokens can solve real-world problems that may pertain to copyright or monetization schemes. Big companies are already exploring the benefits of nonfungible tokens, often in the context of the metaverse. For example, Walmart has been preparing patents for NFTs and proprietary cryptocurrency, while YouTube is pondering the integration of NFTs to help creators better monetize their content.
CEO Jiri Kobelka reflects on their experience developing 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 reduces the time to market, costs, security and regulatory issues commonly associated with building NFT apps.
The development platform that built it all
Tatum is a blockchain development platform that helps developers save time and costs by providing a unified framework for over 40 blockchain protocols and thousands of digital assets.
Its user base has grown from 4,000 developers to over 18,000 developers over the past year. Today, it hosts over 1,000 NFT marketplaces. At peak times, apps built on Tatum process $1 billion per day and mint 500 NFTs per second. Tatum won the Startup World Cup European Finale and the right to compete in the Global Finale in 2022.