What Are Gas Fees?

When transacting with NFTs, it requires interacting with the blockchain. These interactions incur significant processing power, thus requiring the payment of gas fees as compensation.

Any action involving sending a transaction to the blockchain will incur gas fees. Below is a list of such actions:

  • Buying or selling at a fixed price.

  • Creating a fixed price discount.

  • Cancelling a fixed price listing.

  • Placing a bid in an auction.

  • Creating an auction.

  • Minting an NFT.

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