Non-fungible tokens are “Non-fungible” This means it’s unique.  It can’t be replaced with something else. It is not exchangeable.  NFTs are created or minted by average everyday users on the Ethereum blockchain, among others.

NFT could be audio files, digital images, or even music files. Really, any kind of digital content. NFTs can be named, described, and even the rarity of the NFT is customizable.

Some of the most expensive NFTs sold: 1.  A digital work of art from an artist named Beeple for nearly $70 million. 2.  A tweet from former Twitter CEO Jack Dorsey for a bit less than $3 million.  3.  A video clip of Lebron James dunking the ball for $200,000.

Existing NFT Process with Holding Crypto

To create NFTs, it is important for the user to own cryptocurrencies on a particular blockchain as required by the NFT protocol. Also, when it comes to selling NFTs, users need to pay for the blockchain transaction a set gas fee.

Crypto Regulations are Rough

A user who has decided to mint NFTs should in the first place decide on which platform they are going to mint their NFTs.  They need to calculate the costs associated with the NFT gas fees.

However, another point to note is that the NFT regulation varies between countries.  And, the taxation for crypto and NFT also differ between countries. In some countries the banks do shut down the account if users transact in cryptocurrencies.

Minting NFT using Tatum

Tatum is a blockchain platform where users can create NFTs – individuals and enterprises can make use of it.  They can create the NFT without depositing cryptocurrencies.

Pay Gas Fee Without Worrying About Crypto Regulations

Users need to simply sign up for a paid Tatum plan.  The monthly subscription will be used to cover for the gas fees which should be paid to creating NFTs. Thus, users need not worry about having to buy or exchange crypto.  Thus, there is no worry about having to deal with pesky regulations.

Mint NFTs without Coding or Deploying Smart Contracts

Tatum’s experienced blockchain engineers have coded, audited, and deployed smart contracts for Ethereum, Polygon, Celo, Binance Smart Chain, and Harmony. Thus, the blockchain platform is highly secure, tried and true, and ready to use for any enterprise anywhere and therefore for NFTs as well. Users will be able to instantly create NFTs without having to write their own smart contracts.

The next-gen infrastructure of Tatum has 3 plans. They provide plans which are free, paid and customized.  This model is infinitely scalable.

Free plans permit unlimited numbers of requests. The only limitation of the Tatum Free plan is that users will be able to perform a maximum of 5 requests per second (rq/s).

The paid plan feature imposes a rate limit of 200 API per second.  With a custom plan, users will be able to get more requests per second, depending on your requirements. Tatum at present have projects which are running as many as 25,000 rq/s without any issues.

Tatum’s NFT Express guide helps in-house developers to quickly start off with NFT Minting.  Those who sign up for an API key in the Tatum dashboard will be able to the use of all 300 features on any supported blockchain.