NFT Sales on Polygon Reach an All-Time High of 2 Million NFTs Sold

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Bored Ape NFT
Bored Ape NFT

The number of nonfungible tokens (NFTs) sold on the layer-two protocol Poylgon reached a record high last month at almost 2 million NFTs sold. According to data from Dune Analytics, the milestone represents a 60% increase in Comparison to November.

Polygon is an Ethereum-based solution that aims to distribute and manage securities on blockchain technology. The ecosystem has seen exponential growth over the last year. In 2021, Polygon registered 3,000 decentralized applications on its network, in addition to a total value-locked figure of $3.86 billion.

On the other hand, the number of the unique daily active proof-of-stake chains is also forecast to hit an all-time high — aiming to blast above the 566,516 records registered on October 2nd of 2021. The most recent data as of today Jan 5, 2022, is standing at 554,163.

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Sandeep Nailwal, co-founder of Polygon said in an interview with Cointelegraph in December that the network has found a way to attract a high proportion of gaming platforms and companies to build NFTs on their network. On the other hand, NFTs on the Ethereum blockchain is more focused on collectibles and digital art.

Matic, the native cryptocurrency of Polygon had hit its all-time high price of $2.92 on Dec.27, 2021. Since then, the digital token plummeted to $2.11 as of this moment amid the wide crypto market decline.