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Why Plat4orm4 NFT's are on Polygon Network .

  • Writer: Admin
    Admin
  • Apr 24, 2023
  • 1 min read

Updated: Apr 25, 2023

We should start by establishing that Plat4orm4 is a digital marketing start-up from Africa. ( South Africa ) where the digital divide is still significantly larger as compared to the rest of the world.


At Plat4orm4, one of our goals is to ensure that the average African user has access to Web 3.0 tools and knowledge of the fast evolving internet space. We have started with the use of functional NFT's which are on the Polygon blockchain.





In order to maintain speedy transaction processing speeds, Polygon uses a consensus mechanism that completes the transaction confirmation process in a single block. The processing of a block takes Polygon an average of 2.1 seconds.





The issuance and exchange of NFTs are supported by the Polygon and Ethereum blockchains. In addition to Ethereum NFTs, OpenSea provides a marketplace for minting and trading NFTs.





Recently, OpenSea began supporting Polygon NFTs as well. OpenSea pays for all gas expenses on Polygon, making transactions free for users. However, users must still pay gas prices if they are moving ETH to the Polygon network. This is partially owing to Polygon's low transaction fees.


According to Dune Analytics, the average price of an NFT on Ethereum OpenSea is about $345, whereas the average price of an NFT on Polygon OpenSea is under $70, making Polygon more appealing to first-time buyers.




 
 
 

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