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As NFT sales attain new peaks, polygon network activity rises

2 min reading

Polygon's NFT market tends to draw users, however, the analytical is more oriented with gaming firms and developers than collectibles like on the Ethereum network.

Last month, the number of non-fungible tokens (NFTs) sold on the layer-two protocol Polygon hit an all-time high of just under 2 million.

As per Dune Analytics, this indicates an almost 60% growth over November and the network's third straight monthly rise.

Polygon, an Ethereum-based scaling solution that strives to build, allocate, and maintain securities using blockchain technology, has seen its ecosystem develop rapidly over the last year, with over 3,000 decentralised apps registered on its network and a total worth locked value of $3.86 billion.

In addition, the amount of distinct daily active proof-of-stake chain addresses on the network is on track to hit the previous record of 566,516 set on Oct. 2, 2021, with the most current data from Jan. 5, 2022, calculating 554,163.

Polygon has discovered a place in drawing a high percentage of gaming firms and platforms to create NFTs on its network, instead of the collectibles and art seen on Ethereum, according to co-founder Sandeep Nailwal in an interview last month.

MATIC, Polygon's native token, reached $2.92 on December 27, 2021, and has eventually declined to $2.11 currently, following a broader market drop.

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