What is a lazy mint?

Could you elaborate on the concept of a "lazy mint" in the realm of cryptocurrency and finance? I've heard it mentioned in various discussions but have yet to grasp its core meaning. Specifically, how does it differ from traditional minting processes? Are there any benefits or drawbacks to employing a lazy mint approach? Furthermore, could you provide a simplified explanation of how it works and why it's becoming increasingly relevant in today's crypto landscape? Your insights would be greatly appreciated.