In the next couple years, I believe NFTs will become an everyday commodity. There are already experiments for using NFTs as tickets for Paris 2024 Olympics/Paralympics and UEFA Champions League.
However, transaction costs, confirmation time, and on-chain storage are all limiting factors for mass adoption. Solution: Layer 2 (L2)
“Layer 2 (L2) is a collective term to describe a specific set of Ethereum scaling solutions. A layer 2 is separate blockchain that extends Ethereum and inherits the security guarantees of Ethereum.” - Ethereum.org
Short answer, to stay ahead of the curve.
Since L2s are the main method for scaling Ethereum, the majority of execution will occur there in the long run. It is important to take the opportunity to be a pioneer and explore what is present in the early days.
The L2 NFTs of today will have provenance making it beneficial to be an early adopter.
Here are a few of the most commonly used L2 marketplaces:
*For this example we will purchase an OptiPunk on Optimism using Quixotic*
1️⃣ Bridge ETH over to the associated L2. HopProtocol is a user friendly app for bridging assets over. Match the inputs below and click Send👇. It should take about 15 minutes for your assets to show up on L2.
2️⃣ Add the Optimism Network and switch networks in your wallet.
3️⃣ Navigate through Quixotic and select an OptiPunk that you like.
Click “Buy Now” -> “Purchase NFT” -> Confirm the transaction in your wallet
The transaction will complete in < 1 minute. You can check it on Optimism’s block explorer.
Congrats on purchasing your first L2 NFT and being an early adopter 🎉
Connect your wallet
Switch your network to Optimism
Click “Collect” at the top right & sign
Thank you for the support ✨
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Disclaimer: Not financial advice. Purpose is to educate new users about Layer 2 NFTs
