NFTs on Smart Chain | Bitcointalksearch.org

julerz12

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Quote from: PercT4b on January 12, 2022, 01:05:59 PM

Realistically speaking, almost the totality of the NFTs market is concentrated on the Ethereum blockchain.

Nope, this is old news. Opensea itself allows minting on Layer-2's like Polygon which btw has ridiculously low fees compared to ETH and BSC.

Quote from: PercT4b on January 12, 2022, 01:05:59 PM

Do you believe that one day people are going to move on BSC to sell their NFTs?....if not, why, what does make people choose Ethereum?

I don't think moving to another blockchain is the best solution; that would just divide the users and the volume.
Instead, we need a bridge that would allow transfers of NFT from L1 (ETH) to L2 (Polygon, Avalance). Although I'm not sure if this is entirely possible. Cheesy

One thing is for sure, if that happens, the entire NFT space would explode as more users would actually be able to mint, sell and buy NFTs.

Quote from: PercT4b on January 12, 2022, 01:05:59 PM

what does make people choose Ethereum?

Ego? The ability to brag that they've spent thousands of gas fees in bidding on their chosen space-monkey-smoking-weed NFT.
Also, most airdrops nowadays happen on Ethereum. Maybe that has something to do with it as well.

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Quote from: PercT4b on January 12, 2022, 01:05:59 PM

Realistically speaking, almost the totality of the NFTs market is concentrated on the Ethereum blockchain.

Where did you get this statement? It's concentrated in ethereum blockchain but it supports multiple network. NFT market is using one for all strategy and it's not specifically for ethereum but NFT market is open for any NFT asset that was using various blockchain.

Quote from: PercT4b on January 12, 2022, 01:05:59 PM

I know that there are some marketplaces on BSC too (Bakery swap for instance), but are almost irrelevant in terms of volume and liquidity if compared with the ones on Ethereum.

It's caused by NFT market that build in ethereum already covered almost all of relevant blockchains. That means people just need to use open sea and that's more than enough to be used to trade their NFT assets. It's supporting multiple blockchain. that doesn't make sense if any blockchain needs to buil their own NFT market. I think that this is the most relevant reason for that.

Quote from: PercT4b on January 12, 2022, 01:05:59 PM

Do you believe that one day people are going to move on BSC to sell their NFTs?....if not, why, what does make people choose Ethereum?

I don't. Since people are feeling confidence with opensea and they will still stay on it.

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Quote from: PercT4b on January 12, 2022, 01:05:59 PM

Do you believe that one day people are going to move on BSC to sell their NFTs?

Some are already moving there to save fees.

Quote from: PercT4b on January 12, 2022, 01:05:59 PM

if not, why, what does make people choose Ethereum?

It's because of the volume, despite the high fees, they're staying because it's already been there. It's hard to change that way of transacting if most of their funds and NFTs are already in the network of Ethereum. But as long as there's a way to see the other chain of BSC supports the same, it's good for us because we can choose the network that we want to transact.

PercT4b

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Realistically speaking, almost the totality of the NFTs market is concentrated on the Ethereum blockchain.

I know that there are some marketplaces on BSC too (Bakery swap for instance), but are almost irrelevant in terms of volume and liquidity if compared with the ones on Ethereum.

Do you believe that one day people are going to move on BSC to sell their NFTs?....if not, why, what does make people choose Ethereum?

Topic: NFTs on Smart Chain (Read 108 times)