Polygon NFT Trading Explodes – This Is How MATIC Rides Billions

  • In the year Despite the crypto winter of 2022, NFT trading on Polygon has touched new highs in the market.
  • Polygon is becoming the go-to platform for businesses to launch NFT and enter the Web3 world.

Ethereum’s layer-2 scalability platform Polygon continues to be in the news for its ecosystem and footprint in the crypto space. Last year, Polygon’s native crypto MATIC performed well against peer altcoins and entered the top ten crypto list.

Furthermore, due to its low fees and fast transfer capabilities, Polygon Blockchain is making its way to the network for many market players to launch their non-fungible tokens (NFTs). In the last year, the Ethereum balance solution has shown a good volume in NFT sales. Despite last year’s crypto winter, Polygon recorded $324 million in NFT sales, surpassing its own 2021 OpenSea NFT volume.

In 2022, Polygon’s NFT OpenSea program saw a record. Additionally, the Layer-2 blockchain saw a significant increase in NFT trading in the last week of December 2022.

Solana, a competitor of Ethereum, has faced serious problems following the collapse of the crypto exchange FTX, and a few NFT issuers are leaving the platform. This has greatly benefited players like Ethereum and Polygon.

Some popular NFT clusters like y00t, a generative art project with 15,000 graduated NFTs built by a community of creators and builders, plan to move to the Polygon blockchain in 2023 before this year. The foundation on the Polygon blockchain will move forward. We expect several more NFT projects to join the Polygon ecosystem this year.

Polygon is riding on Web3 in the billions

Interest in Web3 has exploded in the past year and every major business is jumping into this fast-growing Web3 industry. Seeing the vast opportunity here, Polygon acts as a bridge to help Web2 companies transition smoothly into the Web3 world.

Polygon is on board with giant brands like Reddit and Starbucks in the NFTs and Web3 ecosystem. In addition, Polygon has made significant partnerships with businesses operating in multiple verticals. Some notable companies include Polygon with Meta, Adobe, Adidas, Disney, Draft Kings, Dolce & Gabbana, and more.

Coffee giant Starbucks has recently launched an NFT-powered Web3 rewards program, Starbucks Odyssey, built on the Polygon blockchain network. Starbucks went on to say that there has been unprecedented demand for Starbucks Odyssey and the customer response has been overwhelming. This year in 2023, Starbucks Odyssey plans to launch its NFT Marketplace, which will allow users to buy and sell limited edition NFTs.

As more and more businesses explore the exciting world of NFTs and Web3, Polygon ensures they meet their requirements and ensure a smooth industry transition.

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