Fair.xyz, an all-in-one solution for NFT creation and management, integrates with Polygon to make NFTs accessible to everyone.
Fair.xyz has expanded its offering to cover Polygon (MATIC), the leading layer-2 network on Ethereum. Fair.xyz and Polygon have further collaborated to bring their community an NFT mint to mark the occasion which will be available for a limited time only.
The aim of the initiative is to provide creators, artists, and businesses with an efficient NFT solution that reduces the high costs associated with Ethereum network fees. In doing so, Fair.xyz hopes to provide would-be NFT creators with a wider range of creative opportunities with lower barriers to entry, and drive the mass adoption of blockchain technology in the process.
According to Isaac Kamlish, co-founder of Fair.xyz: “This milestone allows artists and collectors to create, mint and interact with NFTs in a more accessible and sustainable manner. We believe this will create endless possibilities for the creative community.”
This is not the first time that Fair.xyz and Polygon have collaborated. Earlier this year, the two organizations worked together to launch the first NFT collection on Polygon’s recent EVM-compatible zero-knowledge network.
The Problem: High Gas Costs on Ethereum
Designed for security and decentralization, the costs of using Ethereum are simply too high for everyday usage. In May 2022, Ethereum network activity drove the cost of a single transaction to nearly $200.
These scalability woes have historically presented a major bottleneck to the expansion of both the NFT-sector, and the wider blockchain industry.
The Solution: Polygon x Fair.xyz
Polygon, the most prolific and active Ethereum layer-2, was built with scalability in mind and has the ability to offer users transaction costs of just a fraction of a cent.
By integrating with Polygon, Fair.xyz is providing users the ability to leverage the Polygon network’s negligible costs to create NFTs, and benefit from their expansive tool-suite. Using Fair.xyz’s NFT launchpad, creators can manufacture NFTs on Polygon with no cost.
What is Polygon?
Polygon is a blockchain platform that operates alongside the Ethereum network. Its purpose is to enhance scalability and improve the efficiency of Ethereum-based applications. Polygon achieves this by providing a framework for creating and connecting multiple sidechains, also known as Layer 2 solutions, to Ethereum.
The main idea behind Polygon is to offload transactions and smart contract computations from the congested Ethereum mainnet to these sidechains. By doing so, Polygon significantly reduces the gas fees and transaction times associated with Ethereum and its ecosystem.