The crypto market has been flourishing at a brisk pace in the world of NFTs. The digital art form which once was a foreign tech for the masses is now widely known amongst social media geeks, and techies. The digital art form now holds the potential to bring in mass adoption in the world of cryptocurrencies.
Successively, Polygon the scaling protocol of Ethereum has been sprawling with NFTs at a brisk pace. The month of January has been a fruitful one for Polygon and its NFTs.
The network has been rising month over month in the world of NFTs. The metrics have been lucrative enough and have been instating faith in the community. Moreover, Polygon has been partnering with bigger names in its NFTs reign.
Will Polygon Emerge As The Go-To Chain For NFTs?
The adoption of NFTs on the Polygon network is growing at a swift rate, and the month of January has been a turning point for the network. The activity of Polygon’s NFTs on OpenSea in the past month has been remarkable.
According to sources, the volumes for the month have been at $78.9 M, in comparison to December’s $76.13 M. The count of NFTs sold stood at 2.68 M, which has risen from 1.99 M of December.
Successively, the average trades per day is at 102k, with the estimated monthly savings at $195.6 M, which comes as the average cost per transaction at $0.04. The top contributors for the volume for January are Crypto Unicorns, Decentraland Games ICE Poker, ZED Run amongst others.
Polygon also passed 900,000 total users who have participated in at least one trade, as of 31st January. And the total number of users on OpenSea Polygon is 974K.
Bigger brands and projects have been showing interest in lower fees and eco-friendly NFTs on Polygon’s PoS. The much-talked-about Adidas & Prada alliance has launched a brand new collection of 3,000 user-generated and creator-owned NFTs on Polygon.
In addition, The Lazy Lions NFT, a renowned project on Ethereum, has joined hands with Polygon for the long term. As they release their Roadmap for 2022. Another update comes as WWF UK announces the launch of their new NFT project powered by Polygon. This is also in a partnership with the World Of Women NFTs & Cyber Kongz.
Summing up, Polygon’s growing presence in the world of NFTs has been a praise-worthy feat achieved by the network. The metrics are bound to escalate in due course of time, considering the perks on offer. The growing dominance in NFTs could also propel the price of MATIC to greater highs. Savvies from the business is expecting a leg-up towards $2 in near future.
Source: https://coinpedia.org/non-fungible-token-nft/will-polygon-be-the-ethereum-in-the-world-of-nfts/