OpenSea Decides to Integrate with Polygon

Defining NFTs

NFTs are pieces of art for which the blockchain certifies ownership. Artists can mint digital artwork and rare digital art collectibles. Therefore, NFTs empower these artists. Patrons can place bids and buy NFTs on exchanges such as OpenSea. This concept enables them to invest their money in an interesting venture. In recent times, the NFT market has seen exponential growth. Millionaires and millennials alike have contributed to the growth of this new investment craze.

OpenSea digital marketplace

OpenSea is a digital marketplace that enables users to buy, sell and discover new digital assets in the form of crypto-collectibles and non-fungible tokens (NFTs).OpenSea is the world’s first and largest digital marketplace.

Polygon platform

Polygon is an immensely useful platform for Ethereum scaling and infrastructure development. Developers can easily access all major scaling and infrastructure solutions by leveraging the capabilities of Polygon

The OpenSea marketplace has enabled Polygon usage and this is a good sign for Polygon and the NFT marketplace. The rise in the number of transactions stands testimony to just how successful Polygon has been on OpenSea.

According to Polygon crypto price prediction, the long-term earning potential of Polygon is more than 147.71% in one year.

A marriage of convenience

By integrating with Polygon, OpenSea can afford free transactions for users due to the low transaction fees collected by Polygon. The user does not need to struggle much for maneuvering an NFT purchase using Polygon on OpenSea. On the Opensea website, users need to look for the Polygon items that have the purple hexagonal Polygon logo down below and follow commands to deposit ETH into a wallet. Users can then see their Polygon NFTs on their profile just like they can see Ethereum NFTs.

The growth potential for OpenSea on Polygon is very high. Surprisingly, 49 percent of transactions on OpenSea were made on Polygon during September. More users are buying NFTs on Polygon than Ethereum. Alternatively, the transaction and Monthly Volume have also surged for Polygon NFTs on OpenSea.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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