Buying and Selling NFTs on Polygon: The Ultimate Guide for Beginning Crypto Investors

Robert Stone

Non-fungible tokens (NFTs) have become a popular asset class within the cryptocurrency ecosystem, revolutionizing the world of art, gaming, and many other industries. Offering proof of ownership and security, NFTs are gaining increasing popularity among crypto investors who are looking to invest in metaverse platforms. One such platform that has emerged as a primary blockchain for various NFT marketplaces is Polygon. In this guide, I will take you through the process of buying and selling NFTs on Polygon.

Understanding the Polygon Blockchain

In order to validate on-chain transactions, Polygon uses a proof-of-stake (PoS) consensus mechanism that runs alongside the Ethereum blockchain. It is designed to address Ethereum’s scalability concerns and offers lower transaction fees, greater flexibility, and scalability, making it an attractive platform for developing decentralized applications (DApps).

How to Create Free NFTs on Polygon

To facilitate artists and content creators in minting NFTs, Polygon NFT marketplaces such as OpenSea and Rarible offer the option of “lazy minting” for free. The NFT is minted when a user buys it, reducing the number of transactions relayed onto Ethereum and ensuring that the buyer pays the applicable gas instead of the NFT creator. To mint, an NFT, select or create a digital file, connect your crypto wallet, upload the file onto the marketplace, and complete the “Free Minting” process.

How to Purchase NFTs on Polygon

For investors and NFT enthusiasts looking to buy NFTs on Polygon, it would be a good idea to select one of the NFT aggregators or markets on the blockchain network and start from there. Besides OpenSea and Rarible marketplaces, Polygon NFT marketplaces such as TixHive, NFTrade, Candy Shop, Hodl, and Floor. My Moon facilitates transactions across blockchain networks, including Ethereum, Solana, and BNB Smart Chain. To purchase NFTs, link your Polygon NFT wallet with the chosen marketplace and browse through the available NFT collections.

For fixed-price NFTs, add the NFTs to your cart and pay for them in a single purchase flow, while for auctioned NFTs, place a bid by locking ETH in a Wrapped Ether (wETH) smart contract.

How to Sell NFTs on Polygon

After minting an NFT, it will be visible in the “My Collections” tab on the OpenSea marketplace and can be put up for sale by the NFT’s owner. To sell an NFT on Polygon, follow these steps:

1. Sign in to your Polygon NFT wallet and connect it to OpenSea

2. Click on “My Collections” and select the NFT you want to sell

3. Click on “Sell” and choose a fixed price or auction format

4. Set the price, add a description, and upload an image

5. Sign the authorization and wait for the transaction to be confirmed

6. Congratulations! Your NFT is now up for sale.

How to Find Polygon NFTs on OpenSea

Although OpenSea is an Ethereum-based NFT marketplace, it allows users to buy, sell, or trade NFTs from other blockchain platforms, including Polygon. Polygon NFTs can be found on OpenSea by looking for the Polygon logo in the upper-left corner of the representative image. Alternatively, filter Polygon from the list of blockchains supported by the platform to see only those NFTs hosted on the Polygon network.

In Conclusion

In recent years, Polygon has emerged as the primary blockchain platform for a wide variety of NFT marketplaces, offering low fees and fast transaction finality. With its multichain network of Ethereum-compatible blockchains, Polygon offers flexibility, security, and scalability, making it the preferred platform for many developers and NFT marketplaces. By following the steps outlined in this guide, you can buy and sell NFTs on Polygon with ease.

Whether you’re a seasoned investor or just starting with NFTs, it’s crucial to remember that buying and selling NFTs comes with inherent risks.

Always do your due diligence and research before investing in any NFT or crypto asset. Additionally, be mindful of the fees involved and consider using gas-efficient solutions like Polygon to save on transaction fees.

The rise of NFTs has disrupted the art and gaming industry, offering investors an opportunity to own unique digital assets. As the primary blockchain platform for NFT marketplaces, Polygon offers a reliable, cost-effective, and efficient way to create, buy, and sell NFTs. By following the steps outlined in this guide, you can tap into the potential of this revolutionary asset class and invest in the metaverse of the future.