Latest achievements in NFT market spikes things up in Polygon network

Polygon’s NFT market continues to entice users, although the demographic is greater aligned to gaming companies and builders than collectibles as on the Ethereum network.

The wide variety of nonfungible tokens (NFT’s) offered on the layer-two protocol Polygon reached an all-time high closing month at simply quick of 2 million.

According to Dune Analytics, this marks a close to 60% upward thrust in contrast to November and the 0.33 consecutive month-to-month extent for the network.

 

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An Ethereum-based scaling solution in search of to construct, distribute and manage securities on blockchain technology, Polygon’s ecosystem has grown exponentially over the previous twelve months, registering in excess of 3,000 decentralised functions on its network, in addition to a complete value locked figure of $3.86 billion.

Alongside this, the variety of special every day lively proof-of-stake chain addresses on the network is also anticipating a new all-time high, aiming to surpass the file of 566,516 printed on Oct. 2, 2021, with the most current data from Jan. 5, 2022, calculating 554,163.

Various analysts across the crypto market additionally published that Polygon has determined a niche in attracting a high percentage of gaming groups and systems to construct NFT on their network, as antagonistic to the collectibles and artwork often witnessed on Ethereum.

Polygon’s native token, MATIC, reached a height rate of $2.92 on Dec. 27, 2021, and has in consequence fallen to $2.11 at the time of writing in line with a wider market decline.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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