- Fair.xyz, an all-in-one NFT creation and management platform, has integrated with the Polygon network to make NFTs more accessible and cost-effective.
- A unique NFT mint to commemorate the collaboration is underway, promising a surge in creative opportunities and a giant leap towards mass adoption of blockchain technology.
In a game-changing move to democratize Non-Fungible Tokens (NFTs), Fair.xyz, an all-in-one platform for NFT creation and management, has joined forces with Polygon, Ethereum’s leading layer-2 network. This strategic alliance aims to make NFTs more affordable and accessible, tearing down the cost barrier associated with Ethereum network fees.
— Polygon (Labs) (@0xPolygonLabs) July 20, 2023
Boosting Creativity, Lowering Barriers
This noteworthy collaboration marks the genesis of a paradigm shift in the NFT landscape, positioning artists, creators, and businesses for optimum benefit. Fair.xyz’s ultimate goal is to foster a more inclusive creative environment, thereby propelling the mass adoption of blockchain technology.
Isaac Kamlish, the co-founder of Fair.xyz, optimistically states,
“This significant juncture opens a world of possibilities for artists and collectors to create, mint, and interact with NFTs in a more accessible and sustainable way.”
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It’s worth noting that this isn’t the inaugural partnership between Fair.xyz and Polygon. The duo had previously worked together to unveil the first NFT collection on Polygon’s recent EVM-compatible zero-knowledge network.
Tackling Ethereum’s High Gas Costs
Ethereum, though lauded for its security and decentralization, has been notoriously expensive for everyday usage. A notable peak in May 2022 saw the cost of a single Ethereum transaction skyrocketing to nearly $200. These scalability challenges have been a significant deterrent to the expansion of the NFT sector and the broader blockchain industry.
The Fair.xyz-Polygon Solution
Polygon, the most productive Ethereum layer-2, was constructed with scalability as its cornerstone. It boasts the capacity to offer users transactions at minimal costs. Fair.xyz, by integrating with Polygon, is granting users the ability to tap into Polygon’s low-cost network for NFT creation, alongside a comprehensive suite of tools. Fair.xyz’s NFT launchpad facilitates cost-free NFT production on Polygon, marking a new era in NFT creation.
Polygon operates as a parallel blockchain platform to the Ethereum network, aiming to bolster scalability and enhance the efficacy of Ethereum-based applications. It achieves this by providing a framework to create and connect multiple sidechains, also known as Layer 2 solutions, to Ethereum.
Polygon effectively diverts transactions and smart contract computations from the crowded Ethereum mainnet to these sidechains, dramatically reducing the gas fees and transaction times associated with Ethereum and its ecosystem.
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