What Is The Polygon Matic Blockchain — Talking About Pros & Cons (How To Sell NFTs With No Gas Fee)

Hi there,

In this lesson I want to discuss the major advantage but also the major disadvantages of listing our NFTs on the Polygon blockchain.

To do that let’s first go to the opensea.io NFT marketplace.

Once we land on the website, let’s click the search line, press the Enter button on our keyboard, click the scrolling bar and move it down, click the Chains menu, and then click on the Ethereum option.

Once we do that we will see at the top of the page that currently there are more than 18 million listings on the Ethereum blockchain.

Now, if we click the X button inside the Ethereum tag box to remove this filtering tag, and then click on the Polygon option at the left side of the page we will just see the listings that are listed on the Polygon blockchain which are a little bit over 6.5 million listings.

Still many listings, but a lot less.

So, this is one of the main advantages of listing an NFT on the Polygon blockchain versus the Ethereum blockchain — simply less competition, but the disadvantage is that many buyers have ether in their digital wallet and none of the Polygon cryptocurrencies.

Let me explain what I mean by that

Let’s say that you listed your NFT on the Polygon blockchain, let’s say that this is your listing, and now I came along (with just either in my Metamask wallet) clicked on your listing, and then decided that I want to purchase your NFT.

I couldn’t technically do it, because as you can see If i hover my mouse cursor over the ether icon, we will see the sentence eth on Polygon.

Which means that I couldn’t have purchased your NFT with the ether cryptocurrency, but only with cryptocurrencies that work on the Polygon blockchain.

So, if I wanted to purchase this NFT I would need to pay gas in order to bridge my ether into the polygon network. Bridge basically means move.

Another advantage that Etherum has over Polygon is that if you list your NFT on the Ethereum blockchain you can create an auction which you can’t do with Polygon.

But again there are no Gas fees when you list your NFTs on the Polygon blockchain and this is a major advantage over Etherium which has both one time fees and recurring fees.

I heard about NFT sellers who sold their NFTs on the Ethereum blockchain , but because they didn’t calculate the gass fees properly they eventually lost money from the sale.

I suggest that you go to Google, search for opensea fees, scroll down, and click on the What are gas fees on Ethereum? — OpenSea search result to reach this page where you see all the Ethereum gas fees.

Ok, so that’s it for this lesson, and I will see you in the next lesson…goodbye.

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