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My Experience with NFT’s

melindawyers.com

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Re: My Experience with NFT’s

#3

Post by rawtxapp »

Unfortunately, current high gas prices make anything less than large defi transactions not worth it. Just transferring some ERC20 tokens cost like 15-20$, etc.

EIP 1559 was supposed to make it more predictable, but with the eth2 speed-up to counter miners, I'm not sure if it's still on the table.

Once the gas fees are solved, I suspect the adoption for defi/NFTs/etc on eth will go through the roof.

Re: My Experience with NFT’s

#5

Post by A4ET8a8uTh0 »

rawtxapp wrote: post #3

Unfortunately, current high gas prices make anything less than large defi transactions not worth it. Just transferring some ERC20 tokens cost like 15-20$, etc. EIP 1559 was supposed to make it more predictable, but with the eth2 speed-up to counter miners, I'm not sure if it's still on the table. Once the gas fees are solved, I suspect the adoption for defi/NFTs/etc on eth will go through the roof.

My impression was that current unusually high interesting in NFT caused gas prices to spike. When I was playing with it for work reasons ( compliance ), it was around $50 for attempting to put my creations up for a bid ( I just checked today, gas fee is $103 ).

I find the whole thing fascinating, but, as I may have mentioned before, I see it as a very elaborate MLM type scam.

Re: My Experience with NFT’s

#6

Post by rawtxapp »

A4ET8a8uTh0 wrote: post #5
rawtxapp wrote: post #3

Unfortunately, current high gas prices make anything less than large defi transactions not worth it. Just transferring some ERC20 tokens cost like 15-20$, etc. EIP 1559 was supposed to make it more predictable, but with the eth2 speed-up to counter miners, I'm not sure if it's still on the table. Once the gas fees are solved, I suspect the adoption for defi/NFTs/etc on eth will go through the roof.

My impression was that current unusually high interesting in NFT caused gas prices to spike. When I was playing with it for work reasons ( compliance ), it was around $50 for attempting to put my creations up for a bid ( I just checked today, gas fee is $103 ). I find the whole thing fascinating, but, as I may have mentioned before, I see it as a very elaborate MLM type scam.

Majority of gas price spike comes from uniswap. Opensea which like one of the biggest nft marketplace is only responsible for 2% of the gas fees.

You can see the gas guzzlers at https://etherscan.io/gastracker.

Re: My Experience with NFT’s

#7

Post by A4ET8a8uTh0 »

rawtxapp wrote: post #6
A4ET8a8uTh0 wrote: post #5

Earlier quoted context omitted.

My impression was that current unusually high interesting in NFT caused gas prices to spike. When I was playing with it for work reasons ( compliance ), it was around $50 for attempting to put my creations up for a bid ( I just checked today, gas fee is $103 ). I find the whole thing fascinating, but, as I may have mentioned before, I see it as a very elaborate MLM type scam.

Majority of gas price spike comes from uniswap. Opensea which like one of the biggest nft marketplace is only responsible for 2% of the gas fees. You can see the gas guzzlers at https://etherscan.io/gastracker .

I shouldn't be amazed but I am at the sheer level of transparency. It is one thing to know this in theory, but quite another to see it displayed in practice. Love it. thank you for sharing.
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