Polygon NFT Marketplace is a blockchain sidechain Ethereum tooling that supports cheaper transactions and provides a platform for the creation of decentralized applications. It is one of the best Ethereum blockchain network in the crypto world. Polygon is mostly used by crypto users who want to do transactions at a small gas fee.
The History of Polygon
The Polygon network was known as MATIC before it broke into 15 cryptocurrencies. The MATIC was founded in October 2017 by Jaynti Kanani who is now the CEO of Polygon. Polygon came into light in February 2021 with a new branding and vision. It became the interconnection between several networks and blockchains. The ability of Polygon to connect multiple channels has led to a new revolution in the blockchain technology. This network is easy to use for most developers and offers several options for development.
How to Create a Polygon Wallet?
The first step in creating a Polygon wallet is to head over to your browser and search for MetaMask. Add the MetaMask extension to your browser. When creating a MetaMask Wallet, you will be asked to choose between “Import Wallet” or “Create Wallet”.
- Select “Create Wallet” and create your password and the secret recovery phrase. Follow the screen instructions and confirm your account.
- The following step is to add Matic Mainnet to your networks. Click on “Ethereum Mainnet” on the right side at the top of your screen. Available networks will appear automatically. To create your Polygon Mainnet, click on “Custom RPC”.
A new page will appear requiring certain details. Fill them as below:
- NETWORK NAME: Matic Mainnet
New RPC URL : https://polygon-rpc.com/
CHAIN ID: 137
CURRENCY SYMBOL: MATIC
BLOCK EXPLORER URL: https:polygonscan.com/
When you have filled up the required information, click “Save” and your Polygon Mainnet will be set.
To create your Polygon Wallet, open your browser and open the web page https://wallet.polygon.technology/ and click on Polygon Wallet. Choose MetaMask and you will be prompted to enter your signature and sign up. Once your Polygon Wallet has been created, you can now send and receive cryptocurrencies through your wallet.
How to Buy NFTs on Polygon?
The first step when buying NFTs on Polygon is to check Polygon, which is under the Chains section. The Polygon items are represented by the purple hexagon logo. The purple logo is found in the lower-right corner of each Polygon NFT. The process of buying NFTs on Polygon NFT Marketplace is similar to buying NFTs on Ethereum mainnet.
During the first purchase, you will be prompted to access your wallet and unlock Polygon trading. The process of unlocking Polygon trading is only done once. Browse and search for the NFT you want to buy. Once you have made your choice, click the “Buy Now” button.
How to Create NFTs on Polygon?
- There are no gas fees charged for creating and selling NFTs on Polygon NFT Marketplace.
- Head over to your profile and click on “My Collections”. The next step is to create a collection. At this stage you can add all the information related to your collection e.g. social media links, description, logo etc.
Set your “creator earnings” before proceeding. Select the blockchain to be used as default, when the drop-down menu appears, select Polygon.
- The Polygon NFT Marketplace supports Polygon ETH and other payment tokens. Once your collection has been created, it is now time to create your NFT.
- Head over to the right side and click on the three-dot menu. Select “Add Item”. Upload your NFT file and add all the necessary customization details.
- You can also increase the number of NFT copies to be minted on Polygon NFT Marketplace. This is done by creating a free semi-fungible item. Your Polygon NFT can now be owned by several wallets.
Click the “Create” button once you are done. A confirmation window will appear once your NFT has been created.
How to Sell NFTs on Polygon?
Selling your first NFT on Polygon NFT Marketplace is easy if you follow the steps below:
- Select the NFT you want to sell and click “Sell” in the top right corner. The next window that pops up will require you to set your currency, NFT fees, and selling price.
- There is also an option to schedule your sale in advance. Click “Complete Listing” once your sale details have been confirmed.
- A new window will pop up where you can complete your listing process. Click on “Sign” and your crypto wallet will be prompted to sign and complete the transaction.
- The authorization process will be complete in a few minutes. Once that is complete, you will receive a notification showing that your NFT is listed.
Is Polygon the Best NFT Platform?
Most Ethereum users support Polygon as the solution to their problems. This is because Polygon has a few advantagess over its other Ethereum competitors. The platform has a fast transaction speed and the lowest costs as compared to Ethereum. It is the most suitable platform for developing decentralized finance applications. Users can stake MATIC and earn rewards, which is impossible on Ethereum since there are a lot of barriers. Most projects are migrating to Polygon because it can be used for mass adoption.