after much deliberation and procrastination, feral dread collective is proud to release the first of many NFTs - “Watch What Happens” Depending on the reception, this will become a monthly drop until all 17 are released.
I think the idea that our .eth names are NFTs really started making me pay attention to what’s going on with them. I think there’s a lot of unused potential for NFTs but for the moment the art that’s happening is really interesting to me. I feel like it’s starting to really impact our society and culture so it’s interesting to pay attention to.
I was looking up how to become a NFT creator (not just frivolously lol! I do consider myself to be a creative artist in a completely unprofessional way) … but the gas fees associated with the transactions are certainly making me hesitant. Opensea says it’s a “gas free” marketplace, but is that really true? Is it possible? I haven’t looked more into it yet, but it seems more likely that the gas fees are just taken out of the total and not added on top.
However, coinbase seems to have found a way to not charge gas for small transactions I wonder how that works.
I haven’t used it much but I think what they mean is you can do many things without needing gas, but anything permanent like a transfer of ownership still uses gas. For example, I was able to list an NFT as “make an offer” only with no price listed, but if anybody were to actually make an offer and I accepted it, I believe they would be paying the gas for the transaction. The first one I listed with a price required me to pay gas to able to do that.
I don’t know exactly how Coinbase operates, but I believe they probably only do anything on chain (requiring gas) when a user sends something to an external wallet, which they charge a fee for that’s more than just the gas price. They just don’t call it gas. I’m not positive, but I’m pretty sure they just do batch transactions when they need to. Just like a traditional bank, they have “custody” of your crypto unless you send it out to somewhere else. I’m pretty sure it’s mostly or entirely just an “I owe you” until that happens.