Extra particular person NFTs had been offered on Polygon than Ethereum by way of main total market OpenSea for the second consecutive month, in accordance with public blockchain knowledge curated by way of a Dune dashboard.
In January, OpenSea dealt with over 1.5 million NFTs gross sales on Ethereum sidechain Polygon, whereas Ethereum’s personal mainnet tallied a bit over 1.1 million gross sales by way of the identical market. That continues the development from December, when 1.3 million NFTs had been offered on Polygon by OpenSea in comparison with slightly below 1 million Ethereum NFTs.
Ethereum has lengthy been thought-about the premier blockchain for NFTs, and it hosts many of the high-value tasks—regardless of its sometimes-high gas fees. However as Polygon continues to forge massive model offers with large names like Meta, Starbucks, and Reddit, and as extra recreation tasks faucet the scaling community, an increasing number of belongings are being traded on the sidechain.
Whereas the Ethereum merge—which was finalized again in September—lowered the mainnet’s vitality consumption by 99.998%, it didn’t resolve the issue of the community’s gasoline charges, which might typically exceed the bottom value of the asset itself. A gasoline price is a value that the Ethereum community expenses customers to finish a transaction.
In contrast, Polygon and layer-1 Ethereum rivals like Solana and Avalanche provide exponentially decrease charges for consumer transactions, and have in flip grow to be more and more recognized for internet hosting extra reasonably priced NFT collections.
In keeping with OpenSea, the highest Polygon NFT assortment in January total was the controversial Donald Trump digital trading cards, which noticed almost 5,500 gross sales throughout all Polygon marketplaces, tallying 1,743 ETH (almost $2.8 million) in buying and selling quantity.
However in the case of Polygon collections with the very best variety of gross sales throughout all marketplaces past simply OpenSea, Planet IX notched roughly 5 million gross sales during the last 30 days, whereas Sunflower Land tallied 1 million gross sales, Mocaverse noticed 42,000 gross sales, and Lympo Athletes collected about 37,000 gross sales up to now month.
It’s value noting that the majority of those gross sales are for low-cost belongings for use in metaverse worlds or Web3 video games. In some circumstances, equivalent to with Sunflower Land and Planet IX, NFT belongings are promoting for pennies’ value of ETH, considerably bringing down the common sale value for Polygon-based NFTs over that span.
Whereas Polygon surpassed Ethereum within the whole variety of gross sales, Ethereum continues to be seeing considerably extra worth traded total. On OpenSea, Ethereum noticed roughly $446 million in whole quantity in January traded whereas Polygon NFT gross sales comprised simply $15.4 million value. With about 1.5 million NFT gross sales on Polygon, that places the common sale value round $10.
Notably, this is not the primary time that the whole variety of month-to-month Polygon NFT gross sales has topped Ethereum. Dune reveals an identical spike in late 2021 and early 2022, however then the variety of Polygon gross sales fell sharply till the latest rebound.
The priciest and most fascinating NFTs (such because the Bored Ape Yacht Club) nonetheless dwell on Ethereum, which is driving considerably extra buying and selling quantity than Polygon. However the sidechain community is seeing traction as a vacation spot for gaming NFTs and low-cost collectibles—which might assist broader NFT adoption by reaching a a lot bigger viewers.