Introducing Batch Minting with Manifold Studio
Mint up to 200 tokens in one transaction saving up to 60% in gas fees
We are pleased to announce that starting today, we are rolling out batch minting for qualified creators allowing you to mint up to 200 tokens in one transaction saving up to 60% in gas fees. All directly from Manifold Studio.
If you would like access to this feature, just reach out to us at firstname.lastname@example.org with your use case.
Having your own Manifold Creator contract comes with the superpowers of extensions. Batch Minting is the first extension available directly from Manifold Studio that saves you both time and money when minting large batches of tokens.
While minting 200 tokens individually would cost you around 3.2 ETH (assuming gas is at 100 gwei), with batch minting the cost is reduced down to 1.2 ETH, saving you around $6k based on ETH price today.
When should I use batch minting?
Batch minting will start saving you minting cost when trying to mint more than 5 tokens at once. Assuming gas is at 100 gwei, this is what it would cost you to mint individually vs using batch minting:
Minting 5 tokens:
Individually: 0.08 ETH
With batch minting: 0.045 ETH*
Minting 10 tokens:
Individually: 0.16 ETH
With batch minting: 0.083 ETH*
Minting 100 tokens:
Individually: 1.6 ETH
With batch minting: 0.62 ETH*
Minting 200 tokens:
Individually: 3.2 ETH
With batch minting: 1.2 ETH*
* Plus 0.0094 ETH to register the extension (one time cost) and 0.009 ETH to create a series (once per batch)
How does it work?
Everyone with a Manifold Creator contract will be able to leverage batch minting directly from Manifold Studio by creating what we are calling a “series”.
A series is just a group of tokens that you’ll mint at the same time. There is no relation between a series and a collection, and creating a series won’t show your tokens in any different way on any marketplace.
When creating a series you can now define the metadata that all tokens in that series will have by default. This saves you time making sure you don’t need to write the same description for each token over and over. You are able to update and change the metadata for each token individually too before minting the series.
If you are minting editions, you can also specify that on the series and mint as many editions as you need.
Once you’ve created your series, you can now upload all the assets you want to mint at once. We currently only support batch minting images, but more asset types will be introduced in the near future.
Manifold Studio allows you to go asset per asset and fill in extra properties or modify any of your asset metadata. You can quickly navigate all assets by simply clicking on the “Previous” and “Next” buttons.
Once you are happy with all the assets in the series, you can go ahead and mint them. Series are first required to be minted on Rinkeby to check everything is ready before minting on mainnet.
Minting a series will take a minimum of three transactions the first time you do it:
The first transaction will register the batch minting extension on your contract. You’ll only need to make this transaction once, future series won’t require this transaction.
The second transaction will create and prepare the series. This step allows us to make minting so much cheaper.
The third and last transaction will batch mint all tokens! If you have a series that has more than 200 tokens, you’ll just need to make more subsequent transactions in batches of 200 tokens. This is due to the gas limit per block that Ethereum has.
And volià, you’ve now saved up to 60% in gas fees!
PS: Photographers, we’ve also got an exciting feature just around the corner, so stay tuned... 📸
THIS IS AN AMAZING FEATURE FOR ARTISTS WITH LARGE COLLECTIONS. THANKS SO MUCH MANIFOLD TEAM!
I wish they are support for Polygon Blockchain soon.