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Why the choice of the blockchain matters for NFT collections

Published 08/21/2023, 12:00 PM
Updated 08/21/2023, 02:00 PM
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One of the fundamentals of launching an NFT collection is choosing where you’ll mint it to reach the moon. If everyone is choosing the Ethereum and Solana blockchain to mint their collection, does it mean it’s good for your collection too? Sometimes, less saturated blockchains like Ripple, Tezos and Polygon can turn out to be a blue ocean for your collections.

I’ve sold a client’s collection on Ripple. There are many other examples of brands that made their grand foray into less saturated chains. For example, McLaren did two successful launches on Tezos, Volkswagen (ETR:VOWG_p) deployed their NFTs on Polygon in April 2022 and Doodles 2 launched on Flow in January 2023.

Potential chain abandonment

Lack of interoperability

Negative perception of the platform

Figure out if a blockchain is PoW or PoS

Look at the transaction speed

Security is vital

Transaction cost

Smart contract functionality

Scalability


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