The Polygon platform is proving to be a good fit for NFT marketplaces. Its remarkable features have made it a popular choice to develop marketplaces using the scalability platform.
Polygon is a two-layer scaling solution that runs along the Ethereum blockchain, enabling developers to build dApps at low transaction fees. $MATIC is the native token of Polygon.
Why Create An NFT Marketplace on Polygon?
Ethereum is considered the most straightforward blockchain network to create Non-fungible Tokens (NFTs). Hence many NFT projects have piled up within the Ethereum network, resulting in a huge performance lag. Another downside of Ethereum is its high transaction fee. These facts make the Polygon network a far better platform to create your own NFT marketplace. Its Layer 2 network acts as an add-on layer to the Ethereum network and helps expand Ethereum’s efficiency, scalability, security, and reduces the general transaction fee.
Another exciting advantage of starting your NFT marketplace on Polygon is the NFT minting 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 the expansion of NFT trading on more accessible terms. Converting into Polygon blockchain makes the transaction easier and allows the vendor to make higher profits on the NFT they need to create. As an owner, you could make higher profits as you don’t need to mine the coin as your users will do the work for you through their NFTs.
Benefits Of NFT Marketplace Development On Polygon
Polygon is built on top of open source projects, thereby eliminating some of the current issues in the blockchain world. It’s known for its scalability and quick transactions. The Matic-powered platform 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 businesses are developing their NFT marketplaces on Polygon:
High speed transactions – one of the main advantages is that it helps the user experience a smooth and instant payment process.
Cost-efficient – Another significant advantage is that the transaction fee is much lesser than other blockchain networks.
Advanced security – It uses its algorithm to make the platform safer.
Highly scalable – Since it works employing a sidechain mechanism, this platform supports numerous transactions with less effort.
Interoperability – This platform permits its users to trade with NFTs from various sidechains. This is where Polygon moves beyond its basic functionality as a simple scaling solution to offer a platform for interoperable blockchain transactions.
Improved efficiency, complete transparency, high throughput, are some additional beneficial features that make NFT marketplaces on Polygon more beneficial.
Top 5 NFT Marketplaces On Polygon
Opensea: Selling NFTs without paying for minting, OpenSea is a leading NFT marketplace on which users can buy and sell NFTs of digital art, NFT domains, digital land assets, gaming goods, collectible trading cards and more.
Aavegotchi: The Aavegotchi DeFi-powered collections game needs a Layer 2 solution. That is why Polygon is accompanied by Aavegotchi. Polygon now offers the (L2) scaling solution, which scales by using sidechains for off-chain compute and a decentralized network of (PoS) – Proof-of-Stake – validators to preserve asset security.
NFTrade: NFTrade is the first NFT platform that’s cross-chain- and blockchain-agnostic. NFT marketplaces host the entire NFT lifecycle. It permits anybody to supply, buy, farm, sell, swap and leverage NFTs across many blockchains in real-time. Anyone can use NFTrade to get access to all their NFTs, unlocking the market’s total worth. These have Ethereum and Polygon blockchains’ platform accessibility.
MegaCryptoPolis: Polygon connectivity eliminates filed transactions, making all acts within the game accessible to each participant. The sport creators manage all L2 expenses, keeping all operations completely decentralized.
Venly Market: The Polygon Minter in Beta lets you mint your work as an NFT on the Polygon blockchain. You’ll can sell your work right after minting on the Venly Market. And on the Venly Market, you’ll see the newly minted add your Venly Wallet.
How To Create 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 just like any other marketplace but on a secured technology with multi-chain compatibility.
Smart Contract Development On Polygon
Smart contracts are nothing but self-executing contracts that are created to perform certain functionalities when specified conditions within the trade are met. Polygon smart contracts are effective in completing transactions and make the work easier for users. It is completely decentralized, and hence there are no intermediaries or middlemen involved in the transaction. Once the customer meets the seller’s criteria and conducts the transaction, the smart contract will verify it on both sides and complete it.
NFT Marketplace Development Services On Polygon
Owing to its numerous benefits in 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
We at Brugu Software Solutions are experts in the blockchain industry. Apart from offering NFT marketplace development services 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 get in touch with our experts.