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Rachel Welch

18 October 2022 194 Read NFT

Why is Ethereum Used in NFT?

The Ethereum blockchain is a popular choice for NFT. But it is not the only cryptocurrency used in NFT. Other blockchains also mint NFTs and accept transaction fees in native tokens. Ethereum's low transaction costs and high environmental impact are not the only reasons to choose another crypto for NFT transactions.

Ethereum is one of the most popular and best known blockchains for launching non-fungible tokens. It transitioned last week from proof-of-work to proof-of-stake and has been leading the charge in the space. While the NFT market has been trending down over the last two months, Ethereum data has remained relatively steady and stable. In addition, Ethereum has made major improvements in its speed, scalability, and energy usage.