This week, I deployed a new smart contract on the Feelmyflo platform for musicians to "Busk in the Metaverse". It all started when Donald, a talented musician, jumped onto the mic during a Feelmyflo Radio Episode. I thought it would be a great idea to create a token that people could buy to "tip" him in the metaverse. With the growing number of musicians performing in Web3 venues, such as Discord, Decentraland, and Twitter Spaces, this could be a useful tool for them to monetise their art.
However, creating new tokens on the Ethereum blockchain can be expensive due to transaction fees (gas). This is where Polygon comes in. As a Layer 2 scaling solution built on top of Ethereum, Polygon aims to address Ethereum's scalability and cost issues. By leveraging the Polygon network, we were able to create a more cost-effective solution for fans to support musicians by monetising their performances in the metaverse.
While Ethereum is a general-purpose blockchain platform for building decentralised applications (dapps), Polygon provides a more scalable and efficient infrastructure for dapps to operate on. With the help of Polygon, we can continue to innovate and build exciting new applications on the Ethereum network, without being constrained by high fees and slow transaction times.