Analysis: Helium NFT Minting on Solana

Our dashboard presents a detailed analysis of the recent Helium NFT minting event on the Solana blockchain. With over 617,000 Helium NFTs minted, this event showcases the remarkable efficiency of Solana's compressed NFT technology. The gas fees for minting these Helium NFTs ranged between $0.000105 and $0.00013 per NFT. In total, only $70.1 was spent on gas fees to mint all these NFTs. This is an incredibly low figure when compared to the costs associated with minting on other blockchains such as Ethereum or even the standard minting costs on Solana without utilizing compressed NFT technology. To further illustrate the cost savings, let's compare these figures with minting costs on other popular blockchains: Ethereum: Minting 617,000 NFTs on Ethereum would typically cost several thousands of dollars in gas fees, depending on the network congestion and gas prices at the time of minting. Even with Ethereum's recent upgrades, the cost would still be significantly higher than that of Solana's compressed NFTs. Polygon: While Polygon's gas fees are generally lower than Ethereum's, they are still higher than Solana's compressed NFT minting costs. Minting 617,000 NFTs on Polygon could cost hundreds or even thousands of dollars, depending on the complexity of the NFTs and the network's status. Solana (without compressed NFTs): Even without using the compressed NFT technology, Solana's gas fees are more affordable than Ethereum's and Polygon's. However, the cost to mint 617,000 NFTs without the compressed NFT feature would still be several times higher than the $70.1 spent during the Helium NFT minting event. The data presented in this section of the dashboard demonstrates the immense potential of Solana's compressed NFT technology. With dramatically lower gas fees, creators and users can mint and trade NFTs at a fraction of the cost found on other popular blockchains. This cost-efficient approach is likely to attract more projects and users to the Solana ecosystem, further solidifying its position as a leading platform for NFTs and decentralized applications.

Compressed NFTs