Mint & Trade On Layer 2
Last updated
Last updated
Ethereum blockchain is a widely used blockchain for NFTs. However, despite all the upgrades, the gas fees of Ethereum are still relatively high compared to other networks.
Socialogue wanted to make the NFT market accessible to anyone from the very beginning. Because of that, the team developed Layer 2. When artists create NFTs on Socialogue, they can choose to use Layer 2, which guarantees zero gas fees for NFT minting. These NFTs can be traded on Socialogue's marketplace for free, without paying gas fees, as long as they are kept on Layer 2.
Whenever users want to withdraw NFTs to their MetaMask wallet, or other marketplaces, they need to select the option to withdraw, pay the gas fees, and these NFTs will be transferred from Layer 2 to Layer 1.
Important to highlight that it doesn't matter how many NFTs at the same time you are transferring from Layer 2 to Layer 1 (Ethereum chain) the price will always be the same as minting one NFT.
Ex.
Transfering 1 NFT to Layer 1 costs 20$
Transfering 999 NFTs to Layer 1 costs 20$
