Polygon network activity spikes as NFT sales reach new height

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Polygon's NFT market continues to attract users, though the demographic is more aligned to gaming companies and developers than collectibles as on the Ethereum network.

According to Dune Analytics, this marks a near 60% rise in comparison to November and the third consecutive monthly increase for the network.
An Ethereum-based scaling solution seeking to construct, distribute and manage securities on blockchain technology, Polygon’s ecosystem has grown exponentially over the past twelve months, registering in excess of 3,000 decentralized applications on its network, in addition to a total value locked figure of $3.86 billion.

In an interview with Cointelegraph last month, co-founder Sandeep Nailwal revealed that Polygon has found a niche in attracting a high proportion of gaming companies and platforms to build NFT’s on their network, as opposed to the collectibles and art often witnessed on Ethereum.

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

Matic/USDT 4 hour chart (TradingView)