Polygon and Ethereum Network
Polygon (Matic token) is it’s own network, and connects Ethereum-compatible blockchain networks. OpenSea uses both Polygon and Ethereum.
While our Cool Cats NFT collection exists on Ethereum, our supplementary collections will exist on Polygon.
Why Polygon Network?
The reason we have selected the Polygon network for our Cool Cats Originals and Cool Cats Collaboration drops, is because the GAS cost is much cheaper than Ethereum (meaning we can save money that could be better spent on further development of the Cool Cats brand), and the transaction speeds are much quicker as well. What might cost us a few thousand dollars and many minutes to hours to send on Ethereum might only be a few dollars and only seconds on Polygon.
OpenSea has written very informative articles on how to transfer ETH from the Ethereum to Polygon network in addition to how to switch to other networks as well.
You can tell if an NFT in your wallet is on the Polygon blockchain by seeing the symbol below in the bottom left corner of the item in the card view, or in the ‘Details’ of an NFT on the page view.
From a user perspective — this shouldn’t impact you too much, as you can still buy, sell or transfer your NFT the same way you normally would on OpenSea (as you might be familiar with on Ethereum). If you’re looking to bid or buy an NFT on Polygon network on OpenSea, you will receive a prompt asking if you’d like to deposit your ETH from the Ethereum network into the Polygon network. (Example below)
Once you’ve converted any ETH from the Ethereum to Polygon network, you’ll be ready to rock!
We’ve got lots of Cool Cats NFT drop goodness to come, so stay tuned!
