NFT
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For two consecutive months, the Polygon network outperformed Ethereum in NFT sales, coinciding with Donald Trump’s successful Tier 2 network NFT project. Trump’s images were released on Polygon in December 2022, since then the blockchain has led the way in NFT sales.
Data from analytics platform Dune shows that 995,000 NFT trades were registered on Ethereum last year, while 1.1 million NFTs were traded on Polygon. In January, 1.3 million sales took place on the Ethereum network, the same indicator for Polygon – 1.5 million.
In mid-December, at the height of the bear market, Donald Trump released an NFT with his own images, although he had previously said that the price of cryptocurrencies was taken from thin air.
Despite the comical nature of the tokens, Trump’s project proved to be hugely successful and topped the list of sales in terms of total value. OpenSea reports for January showed that a total of 5,517 NFTs were traded for a total of 1,760 ETH, equivalent to $9.2 million.
NFT: From Zero to Hero author Andy Lian attributes Polygon’s recent boom to a growing audience attracted by the network’s low transaction fees. He added that the recent surge in sales was also helped by Polygon’s collaborations with companies such as Reddit, Meta, Starbucks and Nike.
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