Gas / Brokerage is a fee that must be paid for transactions on the Ethereum blockchain. It therefore represents the costs required to execute a transaction. Be it the purchase, sale or transfer of an NFT, similar to the fees for buying a share.
How is gas calculated?
The gas / brokerage price is calculated based on the complexity of the transaction and the current network load. The more complex the transaction or the more utilization there is on the Ethereum blockchain, the higher the gas fee can be. It is important to keep an eye on gas fees. They can have a direct impact on the overall cost of an NFT transaction. Especially during times of high network utilization, gas fees can rise sharply.
How to minimize or control gas costs?
There are tools and services that display current gas / brokerage prices. That will allow users to choose the best time for their transactions to minimize gas fees. In quieter times on the blockchain, gas fees can be lower, reducing the overall cost of NFT transactions.
