The Polygon platform is proving to be a good solution for NFT marketplaces. Its remarkable features have made it a popular choice for marketplace development using the scalability platform.
Polygon is a two-tier scalability solution that runs on the Ethereum blockchain and allows developers to create dApps with low transaction fees. $MATIC is the native token of Polygon.
Why set up an NFT marketplace on Polygon?
Ethereum is considered the easiest blockchain network to create non-fungible tokens (NFTs). As a result, many NFT projects have accumulated on the Ethereum network, leading to a huge performance gap. Another disadvantage of Ethereum is its high transaction fee. These facts make the Polygon network a much better platform to create your own NFT marketplace. Its Layer 2 network acts as an additional layer to the Ethereum network, helping to increase Ethereum’s efficiency, scalability, security, and lower overall transaction fees.
Another exciting benefit of launching your NFT marketplace on Polygon is the NFT mining platform. The NFT minting processes within the Polygon blockchain convert virtual assets such as art, music, and others to the Polygon blockchain. This can help expand NFT trading on more accessible terms. Converting to the Polygon Blockchain simplifies the transaction and allows sellers to make higher profits on the NFTs they need to create. As an owner, you could make higher profits since you don’t have to mine the coin as your users do the work for you through their NFTs.
Advantages of NFT marketplace development on Polygon
Polygon is based on open source projects, which eliminates some of the current problems in the blockchain world. It is known for its scalability and fast transactions. The platform, powered by Matic, also has significantly lower gas fees.
The platform offers the Ethereum network some crucial functionalities such as interoperability, scalability, and high security. These are some of the reasons why many companies are developing their NFT marketplaces on Polygon:
High-speed transactions: One of the main benefits is that users experience a smooth and instant payment process.
Cost-effective – Another key benefit is that the transaction fee is much lower than other blockchain networks.
Advanced security – The algorithm makes the platform more secure.
Highly Scalable – Since the platform uses a sidechain mechanism, it supports numerous transactions with less effort.
Interoperability – This platform allows its users to trade NFTs from different sidechains. Here, Polygon goes beyond its basic functionality as a simple scaling solution and provides a platform for interoperable blockchain transactions.
Improved efficiency, complete transparency, and high throughput are some other beneficial features that make NFT marketplaces on Polygon even more advantageous.
Top 5 NFT marketplaces on Polygon
Opensea: Sell NFTs without paying to mint them, OpenSea is a leading NFT marketplace where users can buy and sell NFTs of digital art, NFT domains, digital estates, toys, trading cards and more.
Aavegotchi: The DeFi collectible game Aavegotchi needs a Layer 2 solution. For this reason, Polygon is accompanied by Aavegotchi. Polygon now offers the (L2) scaling solution that scales by using sidechains for off-chain computations and a decentralized network of (PoS) – proof-of-stake – validators to ensure asset security.
NFT Trade is the first NFT platform that is cross-chain and blockchain agnostic. NFT marketplaces host the entire lifecycle of NFT. It allows anyone to offer, buy, farm, sell, trade, and use NFTs across many blockchains in real time. Anyone can use NFT Trade to access all their NFTs and unlock the total value of the market. They have access to the Ethereum and Polygon blockchain platforms.
Mega CryptoPolis: Polygon connectivity eliminates field transactions and makes all actions within the game accessible to any participant. Sports creators manage all L2 spending and keep all operations completely decentralized.
Venly Market: with Polygon Minter in beta, you can coin your work as NFT on the Polygon blockchain. You can sell your work on Venly Market right after minting. And on the Venly Market, see the newly minted add to your Venly Wallet.
How to create an NFT marketplace on Polygon?
Brugu Software Solutions is a leading blockchain development company that can help you launch your own NFT marketplace on Polygon with a seamless user experience. An NFT marketplace on Polygon works like any other marketplace but on a secure technology with multi-chain compatibility.
Smart Contracts Development on Polygon
Smart Contracts are nothing more than self-executing contracts that are created to perform certain functionalities when certain conditions are met within the trade. Polygon Smart Contracts are effective in settling transactions and make things easier for users. It is fully decentralized and therefore there are no intermediaries or middle men involved in the transaction. Once the customer meets the seller’s criteria and makes the transaction, the smart contract verifies it on both sides and finalizes it.
NFT marketplace development services on Polygon.
Due to the numerous benefits of creating an NFT marketplace on Polygon, Brugu Software Solutions offers its services on the Polygon network for the following industries:
- NFT marketplace development for games
- NFT marketplace development for fashion.
- NFT Marketplace Development for Land Assets
- NFT Marketplace Development for Digital Arts
At Brugu Software Solutions, we are experts in the blockchain industry. Apart from NFT marketplace development on Polygon, we also provide NFT marketplace development on various other blockchain networks such as Solana, Cardano, and Tezos.
If you would like to develop your preferred blockchain NFT marketplace on Polygon, feel free to contact our experts.