Polygon-based NFTs like Reddit avatars have captured these communities’ imaginations and stormed the market. In their first week alone, they created a fantastic $22.3 million in sales volume! This is a whopping 24% of all sales in the NFT market combined, which brought in just under $93 million. In case you missed it, on April 22, CryptoSlam wrote about the growing emergence of Polygon. The data reflects the significant appetite for tokenizing real-world assets.
Polygon’s success is seen in its unique monthly user base. The network was visited by over 39,000 unique buyers, an increase of 81% from last week. This sudden spike in digital asset exchange user activity represents the extraordinary allure of the platform, along with the increasing need for its NFT services.
Stablecoins on Polygon are valued at more than $227 billion on-chain, intimidating proof of the network’s formidable infrastructure and manage assets. Polygon's ability to facilitate a high volume of transactions and attract a large number of users has solidified its position as a leading blockchain for NFTs.
Based on some of the CryptoSlam data Polygon took first place on the NFT sales chart at $22.3 million. In distant second was Ethereum at $19.2 million in sales. And trailing them closely were Mythos Chain and Bitcoin-based collections, which saw $14.3 million and $14.1 million in sales, respectively.
This increase in Polygon NFT sales comes during a strong trend towards tokenization of real-world assets (RWA). This wave focuses on digitizing real-world things, like property, goods, and artwork, converting them to tokens on a blockchain. Polygon’s scalable, eco-friendly and low-cost network is becoming a popular choice for RWA projects, fueling more growth and adoption.
