It appears that evidently 2022 ended with a bang for the NFT trade, with OpenSea recording unimaginable buying and selling figures for the Polygon community all through December. As soon as the mud had settled, the formidable layer 2 chain had offered an incredible 1.3 million Polygon-based NFTs within the ultimate month of the yr. Successfully, recording a quantity of greater than $15.3 million from over 116,000 merchants.
How Polygon Got here Out on Prime
The event highlights a shift in momentum as low value NFTs that demand value efficient fuel charges have elevated in recognition. As such, Polygon has positioned itself because the go-to chain for a lot of gaming belongings and loyalty applications that don’t depend on the speculative nature of the tech. As well as, marketplaces corresponding to Magic Eden have additionally added assist for the chain, and successfully broadened its already important attain.
By way of lively wallets, December ranked because the third-best month for the yr, with 11.24 NFTs offered per dealer. Given the challenges that the NFT area as an entire confronted in 2022, this comes as a welcome finish. The continued crypto winter has meant that many belongings noticed their ground costs wrestle and it even had a damaging impression on buying and selling quantity. However as these figures present, the market stays resilient.
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Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on websites like BTCmanager and Blockchain Reporter. She has a level in Company Communications.