Polygon has outpaced Ethereum in NFT sales on OpenSea for the second consecutive month in terms of low-cost assets as the network continues to pave the way and leave a name in the NFT industry.
Polygon Outshines Ethereum In OpenSea NFT Sales For Second Consecutive Month
According to data curated via a Dune dashboard, more individual NFTs were sold on Polygon than Ethereum via leading overall marketplace OpenSea for the second consecutive month.
OpenSea sold 1.5 million NFTs on Ethereum sidechain Polygon in January, while 1.1 million were sold through Ethereum’s mainnet marketplace. In December, 1.3 million NFTs were sold on Polygon through OpenSea compared to just under 1 million Ethereum NFTs sold on the marketplace.
In January, the most popular NFT collection on the Polygon platform was the Donald Trump digital trading cards. Despite its controversial nature, the collection saw significant sales with over 5,500 transactions on various Polygon marketplaces. These sales generated a total trading volume of 1,743 ETH, equivalent to approximately $2.9 million.
Ethereum Vs Polygon: Lower Gas Fees And Scalability
Meanwhile, platforms like Polygon and layer-1 Ethereum competitors such as Solana and Avalanche offer significantly lower fees for user transactions and have gained recognition for hosting NFT collections that are more budget-friendly.
The Ethereum Merge, completed in September, resulted in a substantial decrease of 99.95% in the energy usage of the main network. However, this did not solve the issue of high gas fees, which can sometimes be higher than the original price of the asset being traded.
Polygon Attracting High-Profile Partners
Polygon has emerged as a popular choice for NFT partners, attracting the attention of well-known companies such as Meta, Reddit, Disney, Starbucks, and Robinhood. The platform’s scalability, lower transaction fees, and growing user base have made it an attractive destination for NFT enthusiasts and creators. With its expanding network of partnerships and collaborations, Polygon is positioning itself as a major player in the NFT space.
In terms of Polygon collections that have seen the highest sales across multiple marketplaces, Planet IX reported approximately 5 million sales over the past 30 days. Sunflower Land had 1 million sales, Mocaverse had 42,000 sales, and Lympo Athletes recorded around 37,000 sales during the same period.