Nonfungible token (NFT) marketplace Rarible has introduced a new functionality titled “lazy minting” that promises users the ability to create nonfungible tokens at zero cost — all while enhancing environmental sustainability on the platform.
Instead of the traditional method whereby data is stored on the blockchain immediately after minting, Rarible announced Monday that, under its new program, NFTs are “minted not at the moment of creation, but at the moment of purchase. It’s the buyer who pays the gas fees when purchasing the item.” In this case, data will be stored on a decentralized peer-to-peer storage system called IPFS.