- The Sandbox NFT marketplace has officially debuted on Polygon as the network looks to expand its reach.
- The new development after Sandbox NFT exited Ethereum, a long-time Polygon competitor.
The Sandbox NFT marketplace has officially launched on Polygon. In an official blog post, the NFT marketplace outlined details of the recent development and its potential benefits for its user base.
The launch of the Sandbox Marketplace on Polygon is expected to empower creators in the long term. Additionally, accessibility for the Sandbox community members looking to monetize their assets with reduced gas fees will be increased, the announcement added.
The new development allows for all creators and users to mint on the new Polygon marketplace with CATALYSTs, an ERC-20 utility token, which are burnt on usage, that define your ASSET’s tier and scarcity.
Fees are also greatly reduced courtesy of the introduction of a secondary market for creators from the Polygon network. NFT owners also can resell assets they did not create on the Sandbox marketplace. The announcement read;
Now that the metaverse is open, we are committed to bringing more opportunities to our creators. In another step toward this goal, the marketplace is now accessible for anyone who owns CATALYSTs, allowing them to use these tokens to mint their ASSETs.
Migration from Ethereum to Polygon Presents a Host of Benefits for Users
Back in 2022, Sandbox revealed that it would be editing the Ethereum ecosystem. The NFT marketplace disclosed that it would be moving its smart contracts to the Layer-2 Polygon blockchain.
The platform also began deploying and bridging to Polygon the same year. Although Sandbox was initially built on the Ethereum network, its decision to migrate was tied to the increasing gas fees on the network.
Users can still gain access to their assets on Ethereum, as it will be made available in their inventory and the Marketplace (and will still be usable in the Game). Users will also be able to bridge assets from the Ethereum to the Polygon layer in the future.
To match the new structure Sandbox will migrate equipment; Gems will be converted to attribute points. MAGIC and LUCK will have no impact in the Game and are converted into DEFENSE and SPEED respectively.
Highlighting the reduction in gas fees and the improvement of the user interface that comes with the new development, the announcement reads;
As is the case for our other contracts on Polygon, gas fees are greatly reduced on our new Polygon marketplace. Also, note that The Sandbox covers a monthly total of TEN Polygon transaction fees for each user across our ecosystem.
It bears mentioning that the marketplace’s user interface has also been revamped with new asset upload flow, Revamped ASSET cards, Improved Marketplace UI/UX itself, New workspace ASSET status, and the implementation of new ASSET moderation in their name and description.
