Why the choice of the blockchain matters for NFT collections
One of the fundamentals of launching an NFT collection is choosing where you’ll mint it to reach the moon. If everyone is choosing the Ethereum and Solana blockchain to mint their collection, does it mean it’s good for your collection too? Sometimes, less saturated blockchains like Ripple, Tezos and Polygon can turn out to be a blue ocean for your collections.
I’ve sold a client’s collection on Ripple. There are many other examples of brands that made their grand foray into less saturated chains. For example, McLaren did two successful launches on Tezos, Volkswagen deployed their NFTs on Polygon in April 2022 and Doodles 2 launched on Flow in January 2023.
On the flip side, there are brands that launched on the most famous chain Ethereum and failed. For example, Lamborghini launched on Ethereum in December 2022 and then we never heard of them again. Porsche launched on Ethereum in January 2023 and managed to sell out only 31% of their collection and eventually closed the mint.
Today, the majority of collections are launched on Ethereum but I usually tell my clients to not do this. Because there are already 150K+ collections on the platform (too crowded) and gas fees are high, which means people are less likely to buy. Also, market sentiment is negative on this chain so if you want to market your project, the cost will be astronomically higher.
Selecting the wrong chain will result in wasted time, effort and money. It’s crucial to thoroughly research and consider the different aspects of a blockchain before selecting it as the foundation for your NFT collection. Otherwise, you’ll have to face these negative consequences.
The blockchain landscape is dynamic with new platforms emerging with the rise of NFTs. You should be
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