EP45, The Economics of Betting on NFT | Polygon (MATIC) NFT Infrastructure

This month is on NFT. We chatted about the economics of NFT, and
the economics of NFT flipping last week. A few days ago, an art
piece was sold at $69 million by Beeple
(https://onlineonly.christies.com/s/first-open-beeple/beeple-b-1981-1/112924)!
Of which, $9m is in fees. My mistake, that $9m is to Christie and
not the network's transaction.


In any case, transaction fees are still a problem. Not only is it
expensive to buy an NFT (we mentioned this 2 weeks ago), but also
expensive to MINT NFT. That might be causing the huge inflation
in prices, since the fixed cost to mint the NFT is already high.


Hence, I want to talk about Polygon ($Matic) today. Up to now,
when the bottlenecks of the Ethereum network have not been fully
resolved, Layer 2 solutions are showing their remarkable
advantages. Formerly #Matic Network, #Polygon has great ambitions
to deploy all Layer 2 solutions on themselves.


NFTs are moving to Polygon because it is cheaper and faster.
Also, the level of security on Layer 1 of Ethereum is good but
not a necessary function. In this episode, we look at the 4
layers of Polygon and understand the quick dive into the token
design!


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