Alleviating Crypto Gas War in NFT Launching

Abstract

Non-Fungible Tokens (NFT) is a unique digital token based on blockchain technology, which is used as a means to prove ownership of assets in various areas. With the huge popularity of NFT, the launch of new NFTs attracted many people to mint NFTs. However, because Ethereum has low processing speed and then cannot accommodate the explosive demands, it causes Crypto Gas War, which increases the overall transaction fee and wastes unnecessary gas. In this work, we propose a Raffle-based N FT launch to solve t he C rypto Gas War. We demonstrated that our proposed NFT launch solves this problem but other existing solutions do not solve the problem. Moreover, our NFT smart contract is gas-efficient. Our proposed method reduces the gas usage by 15.5% or more compared to general method, and the efficiency is improved a ccording to increasing the total number of NFTs.