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- More than 991,000 Solana NFTs will be generated as part of the migration effort.
- The expense of minting 1 million NFTs could be lowered to approximately $113 USD.
Following extensive preparations, Helium Network has successfully transitioned from its layer-1 blockchain to Solana. The creators and investors of Helium believe that Solana has the capability to unlock new applications across the network, a process that may be facilitated by a large-scale NFT mint linked to the migration.
The Helium Network migration to @solana is finalized!
![Helium Network Accomplishes Transition to Solana1]()
This marks a significant achievement for the global Helium community and heralds a new phase for a highly scalable and robust Helium Network, along with a new realm of utility on Solana. https://t.co/Ip8bVmKeLJ pic.twitter.com/SR5eMbchsS— Helium
(@helium) April 19, 2023
(@helium) April 19, 2023As part of the migration, over 991,000 Solana NFTs will be created, corresponding to each physical hotspot node currently operational on the Helium network. When a hotspot owner accesses their linked wallet, they will have the ability to view their NFT and modify the hotspot’s location as needed.
Banking on New NFT Compression Approach
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Based on public blockchain data gathered by analytics firm Flipside Crypto on Wednesday morning, more than 150,000 of the NFTs have been minted. Although the data on the platform is slightly delayed, it appears that the process is still ongoing at this moment.
Solana’s innovative state compression feature, which enables creators to mint potentially large quantities of NFTs at a relatively low cost compared to other platforms or even Solana’s standard NFT minting process, has been utilized in this prominent application.
Additionally, the Solana Foundation estimates that employing this technique could reduce the cost of minting 1 million NFTs to around $113 USD (as of April 5). Without compression technology, the cost on Solana is projected to be about $253,000, while minting on the Ethereum scaling network Polygon would amount to $32,800.
With Solana’s NFT compression, creators and marketers may find an economical solution to distribute large volumes of NFTs to a broader audience.
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