In this article, I will discuss the cheapest blockchain networks for NFTs, focusing on platforms that offer low transaction fees, fast speeds, and scalability.
As NFTs continue to gain popularity, choosing a cost-effective blockchain becomes essential for creators and collectors. I will explore various options to help you select the best and most affordable blockchain for your NFT needs.
Key Points & Cheapest Blockchain Networks For NFTs
| Blockchain Network | Key Points |
|---|---|
| Solana | Fast transactions, low fees, scalable, popular for NFTs and DeFi applications. |
| Polygon | Ethereum-compatible, low fees, fast transactions, scaling solution for Ethereum. |
| Avalanche | High throughput, low latency, customizable subnets, great for DeFi and NFTs. |
| Algorand | Fast, secure, scalable, uses pure proof of stake (PPoS), eco-friendly. |
| Tezos | Self-amending blockchain, low fees, secure, focused on NFTs and decentralized apps. |
| Cardano | Research-driven, proof-of-stake, energy-efficient, growing ecosystem for NFTs. |
| Binance Smart Chain (BSC) | Fast, low-cost transactions, highly compatible with Ethereum, used for DeFi and NFTs. |
| Hedera Hashgraph | High-speed, low-fee, decentralized, focuses on scalability and security. |
| Zilliqa | Scalable, sharding technology, low fees, designed for high-throughput applications. |
10 Cheapest Blockchain Networks For NFTs – Top Low-Cost Options
1.Solana
Solana provides an inexpensive answer for NFT dealings, with an average transaction cost of just $0.00025. Its high-speed network can handle up to 65,000 transactions per second, ensuring that the trading of NFTs goes off without a hitch.
These two characteristics make Solana a darling among creators and collectors who prefer an effortless and inexpensive experience when dealing with NFTs.
| Key Detail | Solana |
|---|---|
| Transaction Speed | 65,000 transactions per second |
| Transaction Fees | Average fee: $0.00025 per transaction |
| Consensus Mechanism | Proof of History (PoH) + Proof of Stake (PoS) |
| Energy Efficiency | Highly energy-efficient, environmentally friendly |
| Popularity in NFTs | Widely used for NFT minting, trading, and DeFi applications |
| Scalability | High scalability, supporting large-scale projects |
| Developer Tools | Extensive developer support with a wide range of tools |
2.Polygon
Polygon provides a solution that is cost-effective for NFT transactions, with minting fees usually around $0.01.
Its Layer 2 scaling solution for Ethereum guarantees faster transaction speeds and lower costs, making it an appealing choice for creators and collectors looking for affordable NFT transactions.
| Key Detail | Polygon |
|---|---|
| Transaction Speed | 7,000 transactions per second |
| Transaction Fees | Average fee: $0.01 per transaction |
| Consensus Mechanism | Proof of Stake (PoS) |
| Energy Efficiency | Low energy consumption, eco-friendly |
| Popularity in NFTs | Popular for minting NFTs, Ethereum Layer 2 scaling solution |
| Scalability | Highly scalable, ideal for large NFT projects |
| Developer Tools | Strong developer ecosystem and various tools for NFT creation |
3.Avalanche
Avalanche provides a platform for NFT transactions that is very, very affordable, with fees averaging just 1 nAVAX (one-billionth of an AVAX) per smart contract execution.
This substantial reduction in transaction costs—following the December 2021 upgrade—has led to a 38% increase in daily transactions, which now average around 354,691.
Payment structure aside, Avax takes pride in the increasing number of transactions happening on its platform and the types of people making them.
| Key Detail | Avalanche |
|---|---|
| Transaction Speed | 4,500 transactions per second |
| Transaction Fees | Average fee: $0.01 per transaction |
| Consensus Mechanism | Avalanche Consensus (PoS-based) |
| Energy Efficiency | Energy-efficient and eco-friendly |
| Popularity in NFTs | Increasingly used for NFTs and DeFi applications |
| Scalability | High scalability with subnets for customizable dApps |
| Developer Tools | Extensive developer resources for NFT projects |
4.Algorand
NFT transactions on the Algorand platform are very inexpensive. The costs of minting an NFT on Algorand average about 10 cents per NFT. The reason for this is that Algorand uses a mechanism called Pure Proof of Stake to achieve consensus on the blockchain.
Unlike Ethereum, which relies on a mechanism called Proof of Work that consumes a lot of energy and is only slightly more efficient than the total energy consumption of Bitcoin, Algorand’s mechanism ensures low transaction costs and also uses very little energy.
| Key Detail | Algorand |
|---|---|
| Transaction Speed | 1,000 transactions per second |
| Transaction Fees | Average fee: $0.10 per transaction |
| Consensus Mechanism | Pure Proof of Stake (PPoS) |
| Energy Efficiency | Carbon-negative, energy-efficient |
| Popularity in NFTs | Gaining traction in the NFT space |
| Scalability | High scalability, ideal for large-scale NFT projects |
| Developer Tools | Comprehensive tools and resources for developers |
5.Tezos
Tezos offers an economical platform for NFT transactions. Minting fees run about $0.20 per NFT and gas fees are from $1.00 to $4.00.
This serves as an invitation to artists to express themselves and to collectors to engage—not to mention the nearly 4 million truly original pieces of art that are sitting on Tezos at the moment as a testament to our vibrant ecosystem.
| Key Detail | Tezos |
|---|---|
| Transaction Speed | 40 transactions per second |
| Transaction Fees | Average fee: $0.20 per transaction |
| Consensus Mechanism | Liquid Proof of Stake (LPoS) |
| Energy Efficiency | Energy-efficient and eco-friendly |
| Popularity in NFTs | Popular for eco-friendly NFT minting |
| Scalability | Scalable, ideal for growing NFT marketplaces |
| Developer Tools | Robust tools for NFT creation and smart contract development |
6.Cardano
Cardano provides a low-cost platform for the minting of NFTs, with transaction fees averaging approximately around 0.17 ADA.
The network’s Proof of Stake consensus mechanism ensures energy efficiency, making it a very likely choice for an NFT platform for both creators and collectors.
| Key Detail | Cardano |
|---|---|
| Transaction Speed | 250 transactions per second |
| Transaction Fees | Average fee: 0.17 ADA per transaction |
| Consensus Mechanism | Ouroboros Proof of Stake (PoS) |
| Energy Efficiency | Highly energy-efficient and sustainable |
| Popularity in NFTs | Growing ecosystem for NFT projects |
| Scalability | High scalability with increasing adoption in the NFT space |
| Developer Tools | Strong developer resources for NFT creation and dApps |
7.Binance Smart Chain (BSC)
Binance Smart Chain (BSC) furnishes a low-cost platform for NFT transactions. With minting fees pegged at 1.00 BNB per collection, the incurred cost accounts for smart contractual engagements and service charges.
This paradigm yields a predictable and, by all appearances, an affordable mechanism for creators and collectors who wish to interact with the BSC NFT ecosystem.
| Key Detail | Binance Smart Chain (BSC) |
|---|---|
| Transaction Speed | 100 transactions per second |
| Transaction Fees | Average fee: $0.10 per transaction |
| Consensus Mechanism | Delegated Proof of Stake (DPoS) |
| Energy Efficiency | Energy-efficient and low carbon footprint |
| Popularity in NFTs | Widely used for NFTs and DeFi applications |
| Scalability | Highly scalable, ideal for fast-growing NFT ecosystems |
| Developer Tools | Extensive developer tools and resources for NFT projects |
8.Hedera Hashgraph
Hedera Hashgraph provides a platform for NFT transactions that is efficient and cost-effective. The operational expenses for the platform are low and very predictable.
In fact, as a recent analysis by Gala Games pointed out, the fees on Hedera are exceptionally inexpensive compared to most NFT platforms.
Gala Games found the minting of one NFT on Hedera costs around $0.02. Since you do not mint a single NFT in isolation, but often mint them in collections, let’s extrapolate from Hedera’s $0.02 price for a single translucent NFT.
| Key Detail | Hedera Hashgraph |
|---|---|
| Transaction Speed | 10,000 transactions per second |
| Transaction Fees | Average fee: $0.02 per transaction |
| Consensus Mechanism | Hashgraph Consensus (Asynchronous Byzantine Fault Tolerance) |
| Energy Efficiency | Carbon-negative and energy-efficient |
| Popularity in NFTs | Gaining popularity in the NFT space with high-speed features |
| Scalability | Highly scalable, suitable for enterprise-level applications |
| Developer Tools | Robust SDKs and APIs for easy integration into NFT projects |
9.Zilliqa
Zilliqa provides an inexpensive platform for non-fungible token (NFT) transfers, with average fees around $0.10 per transaction.
Its sharded architecture guarantees scalability, ensuring that the network can handle a large amount of traffic and making it an attractive choice for creators and collectors who want an affordable NFT experience.
| Key Detail | Zilliqa |
|---|---|
| Transaction Speed | 2,828 transactions per second |
| Transaction Fees | Average fee: $0.01 per transaction |
| Consensus Mechanism | Practical Byzantine Fault Tolerance (PBFT) + Sharding |
| Energy Efficiency | Low energy consumption, eco-friendly |
| Popularity in NFTs | Increasingly popular for minting and trading NFTs |
| Scalability | High scalability due to sharding technology |
| Developer Tools | Strong ecosystem of tools for dApp and NFT development |
Conclusion
In conclusion, the cheapest blockchain networks for NFTs, including Solana, Polygon, Avalanche, Algorand, Tezos, Cardano, BSC, Hedera Hashgraph, and Zilliqa, offer low transaction fees, high scalability, and energy efficiency.
These platforms are ideal for creators and collectors looking for affordable, fast, and sustainable solutions to mint, trade, and manage NFTs in the growing digital space.
