What are gas fees?

When you get started with NFTs, you will come across the term “gas fee.” This is a fee that is paid to process and validate blockchain transactions. Every time someone completes a transaction on the blockchain (for example, minting, selling, or purchasing an NFT), there is computational effort that goes into verifying the transaction. This work is performed by “miners.” Miners use computer resources to process transactions and store them on the blockchain. They are compensated with gas fees.

The amount you pay in gas fees depends on the complexity of the task. And, gas fees can fluctuate, just like the price of any good in any market.