TL;DR - On August 3rd we are migrating from Ethereum to Polygon to continue scaling Courtyard.io. We will cover minting/airdropping the collection to owners on Polygon, so no action is required. What's happening? In an effort to onboard more collectors to Courtyard.io, we're preparing to migrate from Ethereum Mainnet to Polygon. This migration unlocks critical features for all kinds of collectors, with the ultimate goal of bringing more collectibles onchain and opening Courtyard.io up to more buyers for your collection. When is it taking place? The migration is planned for Thursday, August 3rd, 2023. Once complete, we’ll notify everyone on Discord and email. What do I need to do? Nothing! Our team will handle everything to ensure a smooth migration. One thing to note: if you currently have cards listed, you’ll need to re-list once the migration is complete. What changes are being made? In a nutshell, we’re taking the best parts of collecting in web3 while making our marketplace more accessible and intuitive for all kinds of collectors. Here are the main new features:
- Crypto or credit: In addition to crypto, every collectible on Courtyard.io can be purchased with a credit or debit card. Collectors can choose from preferred options like Apple Pay or Google Pay and receive the collectible in their wallet instantly.
- Instant wallet creation: Anyone with an account will automatically get an embedded Courtyard.io wallet, making it easier for new collectors to take that first step with trading collectibles onchain (almost without even realizing!). Web3 power users can continue to link an external wallet to their account if desired in profile settings.
- Gas fees are gone: We know – gas fees suck! With the migration, gas fees on Courtyard.io are a thing of the past when you buy and sell from your Courtyard.io wallet. Instead of worrying about a spike in fees or unexpected charges, we want people to focus on what matters most – the joy of collecting.
Why migrate to Polygon? Since day one, we’ve been building with our collectors’ interests at heart. We want to see Courtyard.io continue to grow into a flourishing marketplace where collectors can seamlessly collect and trade all over the world while tapping into the advantages offered by the blockchain. Long-term, Polygon is the right chain that will allow us to scale to new users and offer a one-of-a-kind experience to collectors. The three main benefits unlocked by Polygon,
- easier onboarding for mainstream users via automatic wallet creation
- gasless transactions
- low-fee fiat payments
are critical as we look to reach more collectors and bring additional liquidity to our marketplace. We want these changes to empower collectors coming to Courtyard from any marketplace to enjoy a familiar experience while pushing the future of collecting forward via the blockchain – the best of both worlds.
Doesn’t bridging to Polygon take a while? Good news: bridging isn’t required for buyers to purchase on Courtyard.io. Credit and debit card payments are natively supported with a fixed low fee that’s a fraction of the cost of gas on Ethereum. That said, bridging technology has drastically improved in the last few months and it only takes a few minutes to send your ETH/USDC from Mainnet to Polygon, for users who want to use their existing crypto to buy cards on our marketplace. What will happen to the onchain history on the current cards? We’ll work to backfill all ownership history for migrated assets on our marketplace. It won’t be possible to do this on other marketplaces such as OpenSea, but what happens onchain stays onchain. This means that onchain history on Ethereum will always be there. All token IDs will stay the same, so it will always be possible to trace the transaction history across chains. What happens to the 1% passive income for collectibles I tokenized? No change – payouts will continue seamlessly once migrated to Polygon. Will all the metadata be the same post-migration? Absolutely. We have a rigorous process in place to ensure that all the metadata is transferred properly. What’s going to happen to my Courtyard.io NFTs currently on ETH Mainnet? To provide a smooth transition and remove confusion, we’ll lock asset trading for a few hours before the migration on 8/3 and mint an identical NFT in its place.
The old ETH Courtyard.io NFTs will have their images updated and deactivated and the NFTs will become non-transferable. Here's a preview of what the new image will look like:
What if I still haven’t opened my genesis pack? Don’t stress! Nothing will change with your sealed genesis pack, and you’ll still be able to open it at your discretion. Token IDs and Proofs of Integrity remain unchanged through the migration, so you can verify that you receive the same token ID on Polygon as you had on Ethereum, or that you had on Polygon at the time of the Back to School drop. The metadata was hashed before the initial drop to create the proof of integrity, which is the hexadecimal representation of the token ID, so you can be sure that the metadata stays the same as long as the token ID stays the same.