Why Did We Choose to Build on Polygon and Work With Polygon Studios
MLIKI is deciding to launch its own NFT marketplace on Polygon blockchain and announced its strategic partnership with Polygon Studios
To assist in the development and promotion of MLIKI project, MLIKI has entered a partnership with Polygon Studios. Through this partnership, Polygon Studios will help to highlight the benefits MLIKI is bringing to NFT artist and collector, to GameFi project and even metaverse project and also the partnership will help MLIKI to get comprehensive support ranging from technology, marketing, community, grants, etc from Polygon Studios.
NFTs have taken the art world by storm — and continue to make headlines. Over the past year, the boom in their sales have created a wild, lucrative marketplace worth over $24bn. According to the ‘completed sales’ chart on Nonfungible.com, In the first quarter of 2021, NFT sales had totalled roughly $2 billion. But under the ebullient surface, a storm was brewing.
We’ve observed that nowaday most NFTs are minted, bought, and sold on platforms powered by the Ethereum blockchain, though other blockchains are also starting to enter the market. Despite its current dominance, however, Ethereum has some limitations. One of these is gas prices had spiked to levels not seen since 2017.
The solutions presented by Polygon are the answers to some of the most pressing issues of Ethereum, like high gas fees, low transaction throughput and consequently a poor user experience. MLIKI will leverage Polygon’s layer 2 solution to improve user experience, making minting, buying and selling NFT become more faster and lower cost. MLIKI and its user greatly benefits from the low costs and fast transaction speeds that come from being on Polygon.
Bellow are the few thing why we chose to build MLIKI NFT martketplace on Polygon
- High Speed Transaction
Polygons allow to process up to 65,000 transactions per second on one side chain. Which means by launch the MLIKI NFT marketplace on Polygon, MLIKI users can complete the transactions (mint, buy and sell an NFT) in a short time - Cost Efficiency
Since we have to pay a gas fee to mint, buy and sell our NFTs, the gas price has caused a new problem in the space and affected smaller players and new user unable to take a chance on the NFT market due expensive transactions fee. Polygon can help reduce these fees by over 99% and thus significantly reduce the barrier to entry for new users. Which means by launch the MLIKI NFT marketplace on Polygon, MLIKI users can complete the transactions (mint, buy and sell an NFT) at a very low cost almost-zero gas fees. - Growing ecosystem
The exponential growth of new applications in DeFi and NFTs caused spiking fees on Ethereum. To take advantage of low costs and fast transactions, much of the activity went to Polygon. By October 2021, Polygon had grown to nearly 3,000 dApps, up from only 30 in 2020.
About Polygon Studios
Polygon Studios is the Gaming and NFT arm of Polygon focused on growing the global Blockchain Gaming and NFT industry and bridging the gap between Web 2 and Web 3 through investment, marketing, and developer support. The Polygon Studios ecosystem comprises highly loved games and NFT projects like OpenSea, Upshot, Aavegotchi, Zed Run, Skyweaver by Horizon Games, Decentraland, Megacryptopolis, Neon District, Cometh, and Decentral Games. If you’re a game developer, builder, or NFT creator looking to join the Polygon Studios ecosystem, get started here.
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About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 350+ Dapps, ~128M txns, and ~1M+ unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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About MLIKI
Mliki is a limitless digital item and physical goods marketplace. Mliki aims to create a hybrid marketplace that makes it possible to purchase physical goods and digital item like NFTs at the touch of a finger
