As the network continues to go forward and make a name for itself in the NFT (non-fungible token) sector, Polygon has surpassed Ethereum in NFT sales on OpenSea for the second consecutive month in terms of low-cost assets.
Polygon Surpasses Ethereum For The Second Month In A Row In OpenSea NFT Sales
For the second consecutive month, data collected via a Dune dashboard shows that more individual NFTs were sold on Polygon than Ethereum via the top global marketplace OpenSea.
In January, OpenSea sold 1.5 million NFTs on the Polygon Ethereum sidechain, compared to 1.1 million traded on the mainnet. In comparison to the little just under 1 million Ethereum NFTs that were traded on the market in December, 1.3 million NFTs were sold on Polygon through OpenSea.
The Donald Trump digital trading cards were the most popular NFT collection on the Polygon platform in January. The collection saw strong sales despite its controversial nature, with over 5,500 transactions on different Polygon marketplaces. As a result of these sales, 1,743 ETH, or around $2.9 million, were traded overall.
Scalability and Gas fees In Ethereum Vs. Polygon
Platforms like Polygon and layer-1 Ethereum rivals like Solana and Avalanche, which have garnered attention for hosting NFT collections that are more cost-effective, provide much lower fees for user transactions.
The major network’s energy consumption was significantly reduced by 99.95% as a result of the Ethereum Merge, which was completed in September. This does not, however, address the issue of high gas prices, which are sometimes more expensive than the initial cost of the asset being traded.
High-Profile Partners Of Polygon
Popular companies including Meta, Reddit, Disney, Starbucks, and Robinhood have taken notice of Polygon as a viable option for NFT partners. Scalability, cheaper transaction costs, and a growing user base have all contributed to the platform’s appeal to NFT aficionados and developers. Polygon is establishing itself as a significant participant in the NFT market with the help of its expanding network of partnerships and collaborations.
According to recent data, Planet IX tops the list of Polygon collections with the most sales in multiple marketplaces, with a total of around 5 million sales in the past month. During the same time period, sales of Sunflower Land reached 1 million, Mocaverse reached 42,000, and Lympo Athletes reached about 37,000.
