Polygon, the popular blockchain solution, is leading the OpenSea nonfungible token (NFT) sales charts for the second month of Polygon outperforming Ethereum trading volume, with 1.5 million NFTs sold in January alone.
It has been reported that the platform keeps skyrocketing in popularity after scoring over 1 billion transactions in 2022. The popular network Polygon recorded a whopping 1.5 million NFT sales on OpenSea in January, recent Dune Dashboard reports show.
However, by comparison, Ethereum sold about 1,1 million NFTs on the same marketplace. Surprisingly, it’s the second month Polygon has outperformed Ethereum.
The report said that back in December 2022, Ethereum reported 1 million NFT sales on OpenSea while Polygon sales exceeded 1,3 million. While both networks are on the rise, Polygon is undoubtedly off to a better start in 2023. For example, the network started promising partnerships with giant companies such as Reddit, Meta, Adobe, and more. Many users turned to this alternative in 2022 as Ethereum gas prices soared – one of the biggest problems in the NFT market.
Likewise, as of February 7, Polygon has 224,719 active NFT traders, while Ethereum boasts 319,641 users. Ethereum’s traders were valued at $446 million while the Polygon sales barely exceeded $15.4 million in January.
Thus, Ethereum network isn’t going anywhere soon, remaining in a leading position overall. Even so, Polygon has come a long way since 2017 when it was founded (under the name ‘Matic’). The Layer 2 scaling solution is carbon neutral, compatible with Ethereum, and cheap in terms of gas fees – three key aspects that continue to grow its popularity among NFT traders.
Source: NFT Evening