Before creating your art or NFT collection, it is important to decide which blockchain you will use to release your NFT creations. And if you can’t decide whether to choose Ethereum or Polygon, we have compiled all the pros and cons for you. So, which blockchain is better for releasing NFTs — Ethereum or Polygon?
Ethereum
Ethereum is a blockchain technology developed by the community and used to store digital money, applications, and global digital payments. Thanks to the results of the blockchain, a thriving economy has been created that is accessible to anyone.
The platform offers data transfer services and thousands of applications that we use every day. All applications linked to the Ethereum platform require a significant amount of computing power.
With the ETH cryptocurrency, you can perform operations with your requests, such as making a payment to someone else on the network. It is noteworthy that Ethereum was a powerful tool for increasing the number of digital collectibles in 2021.
As a result, it has become the preferred cryptocurrency for NFT market development service providers who prefer to be on the safe side.
Advantages of Ethereum
The popularity of Ethereum among users has led to more and more people becoming familiar with it. Particularly popular NFT collections are now available on the Ethereum blockchain.
Instead of selling your NFTs at a fixed price, you can auction them off instead. This feature is only available on the Ethereum blockchain.
Disadvantages of Ethereum
Gas fees are high: Ethereum gas fees often range from $50 to $200 per transaction. Fees include a one-time fee for creating an account and approving tokens and contracts.
You will also have to pay gas fees if you accept an offer, transfer an NFT, purchase an NFT, or do anything else that requires confirmation.
Polygon
Polygon is also known as the Matic network. One of Polygon’s main goals is to make the Ethereum multi-chain environment more accessible. The Ethereum network is compatible with all existing and future network infrastructure.
In addition, Polygon is aligned to ensure compatibility with Layer 2 solutions. Polygon is also well known for its most efficient transaction speed.
Advantages of Polygon
There are no gas fees associated with creating and selling NFTs on Polygon. When converting ETH to Polygon on OpenSea, you will simply have to pay a small gas fee to cover transaction costs.
Disadvantages of Polygon
Compared to Ethereum, many users are unfamiliar with Polygon. It is quite possible that people unfamiliar with Polygon will be less interested in buying your NFTs if you sell them to them. And they will be even less interested in reselling them, which will prevent you from receiving royalties.
In addition, before purchasing NFTs using Polygon, you need to add Polygon to your wallet or convert Ethereum to Polygon. There are no auctions because the auction feature is only available on the Ethereum blockchain. Currently, auctions are not supported on the Polygon network.
