Are you fed up with Ethereum’s astronomical NFT costs? Consider the alternatives below instead.
Although NFTs were in existence since the mid-2010s their popularity has risen following the Beeple’s Everyday NFT collage was sold at an astonishing $69.3 million in the month of February 2021.
Since then, NFTs have entered mainstream awareness and are available through multiple marketplaces, and are supported by a myriad of blockchains.
Here are a few of the most well-known blockchains that can support NFTs.
It was released in the year 2017 and is the world’s first open blockchain-based on sharding. Zilliqa has been designed to provide increased scalability, meaning that the speed of transactions is not affected by the growth of the network. Blockchains that were first developed, such as Bitcoin or Ethereum are known for their slow transactions.
Zilliqa members that hold gZIL Governance tokens are also given the chance to determine the direction that the blockchain will take by proposing and voting on ideas.
Apart from supporting NFTs Zilliqa is involved in multiple projects within the NFT area and has a partnership in partnership with NFT music service Token||Traxx.
Most importantly, Zilliqa is actively investing in the economy of creators through the $1 million Creator Fund, which supports innovations within and around the NFT as well as Metaverse space.
Flow is a blockchain that is proof of stake that was specifically developed to be compatible with NFTs and other consumer-oriented applications. Dapper Labs, the developers behind one of the first games based on NFT, CryptoKitties, created Flow after CryptoKitties transactions were a major cause of congestion on the Ethereum network in 2017.
The unique multi-node architecture of Flow solves scaling issues and allows for low-cost and fast transactions. Its FLOW token can be used to perform transactions, staking, as well as governance votes.
Flow’s designed-for-purpose, consumer-oriented applications have enticed high-profile corporations to sign up with the Flow network to market their online assets. These are UFC and NBA and NBA, with CNN getting on board to market memorable moments on its network.
Tezos is an open-source proof-of-stake blockchain that was launched in the year 2018. Tezos encourages collaboration and participation among its users to achieve the aim of constant improvement and upgradeability over time.
Tezos highlights its improvement over Ethereum and its environmental friendliness since it requires 2 million times less energy than Ethereum and uses less than 1 XTZ to create an NFT.
Although Tezos is among the less well-known blockchains, it has been making waves within the NFT world, with recent announcements of partnerships like music NFT platform OneOf, NFT platform Rarible, and the world’s leading games studio Ubisoft which has launched its initial NFT platform on Tezos.
Solana is a blockchain that is proof of stake that claims to be the most efficient worldwide. The most appealing advantage of Solana is its capacity to scale. This ensures that it will be speedy, and also ensure that any transaction made on the network will ever exceed 0.01.
Solana’s mission to be the primary blockchain used by crypto applications has led to its popularity within the NFT sector. New NFT projects are often launched on Solana and there are agreements with major businesses, like Opera Browser.
Cardano is an open-source blockchain that is a proof of stake. Cardano boasts a mighty group behind it. It was conceived by the founder of Ethereum and is focused upon the significance of compliance with regulatory requirements and the ability to scale. It boasts to be one of the most ecologically eco-friendly blockchains.
Cardano’s capacity to scale and the low transaction costs make it a popular option to NFT users. There are several well-known NFT marketplaces based around the Cardano blockchain, such as Verlux as well as CNFT.
NFTs: What’s the Best Blockchain?
With the variety of blockchains that can support NFTs available, picking one could be difficult. There are a variety of different blockchains that offer a range of appealing features that you can pick from.
If you’re looking to connect with a green blockchain or if low transaction fees are important to you There are a variety of blockchains that support NFTs.