Op-ed: Here’s why Algorand is the ideal home for NFT artists

[Pagla]

First and foremost is the cost. Minting, buying, selling, and trading NFT’s on the Algorand blockchain is cheap. Incredibly cheap.

Right now, it costs just a fraction of a cent to transact on Algorand. Compare that to other layer-1s, and the argument for Algorand almost makes itself. Even after last August’s highly anticipated London Hardfork that sought to make Ethereum more efficient, gas prices on Ethereum have continued to remain extremely high. This has resulted in artists and content creators having to shell out anywhere between $50-$800  to issue a single NFT.

On the flipside, Algorand enables the creation of high-volume NFTs in a manner that is both practical and feasible — especially for smaller, independent artists who may not have access to a lot of capital.

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