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William Mougayar once said, 'Tokens are to blockchain what websites are to the internet'. It explains the importance of tokens in the blockchain industry. While gas prices on Ethereum have been high for months, especially when popular NFT projects start minting. This leads to everyone paying a lot in gas fees. The Azuki team created a new token on Ethereum to tackle this issue.
At Azuki, they're planning to build a metaverse brand with their community. Their main goal is to reduce gas fees for minting as much as possible. Instead of using OpenZeppelin's standard versions of IERC721 and IERC721Enumerable, they've created their own called ERC721A. With the Azuki contract, you can mint multiple NFTs for almost the same gas cost as minting just one.
In this blog, we will learn about how the ERC721A token development company is optimizing it and its benefits in this industry.
The ERC-721A standard is like an upgraded version of the original ERC-721. One big diff? ERC-721A has extra features that ERC-721 doesn't. Like, with ERC-721A, you can mint NFTs on the fly, which means you don't have to pre-mint them all at once. Super handy and cheaper, especially if you don't need a ton upfront.
The Azuki team found a smart way to save gas using this. They keep track of who owns what NFT number. So, if someone mints five NFTs starting from #100, the system knows she owns #100 and the next five are up for grabs. This trick saves a bunch of gas because you don't have to mint every single NFT separately.
The numbers? Minting one NFT with ERC-721 takes around 154,814 gas, while with ERC-721A, it's only 76,690. Minting five? ERC-721 eats up 616,914 gas, while ERC-721A only chomps 85,206.
We checked how much it costs to mint using OpenZeppelin’s ERC721 Enumerable and ERC721A in the below table.
