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- Polygon (MATIC) has achieved a historic milestone by surpassing Ethereum (ETH) in 24-hour NFT sales, marking a significant achievement for the layer-2 (L2) networ.
- The surge in Polygon’s NFT market is due to the success of Gas Hero, a Web3 game contributing to the platform’s growth.
In a noteworthy development, Polygon’s (MATIC) non-fungible token (NFT) ecosystem has taken center stage, capturing the attention of market observers. The network recently achieved a historic milestone by surpassing Ethereum (ETH) in 24-hour NFT sales, as reported in a post on X (formerly Twitter).
Although Polygon slipped back to the third position at the time of reporting, according to data from CryptoSlam, the temporary outperformance of its base layer in the Web3 sector is a significant achievement for this layer-2 (L2) network.
Polygon’s NFT landscape has undergone substantial expansion since the beginning of 2024, with NFT sales exceeding $36 million recorded in the last week. This marks a remarkable threefold increase from the preceding period and stands as the network’s most impressive performance in the NFT realm since August 2023. The development showcases Polygon’s growing influence and competitiveness in the dynamic NFT market.
What’s Behind the Polygon NFT Craze?
The surge in Polygon’s NFT market can be attributed to the success of collections from the Web3 game Gas Hero, a contribution acknowledged by Polygon co-founder Sandeep Nailwal.
Notably, Gas Hero’s Common Heroes emerged as the most traded collection in the last 24 hours, achieving sales exceeding $3 million. This particular collection even surpassed Ordinals NFTs, which had previously driven Bitcoin (BTC) to the top of the rankings.
Gas Hero, positioned as a social-strategy Web3 game, was recently launched. In this game, players assemble squads of heroes and engage them in battles to gain power, collect NFTs, and earn GMT—the token that forms the foundation of Find Satoshi Lab’s ecosystem. Find Satoshi Lab is the creator behind the well-known Web3 lifestyle app STEPN.
Polygon achieved a substantial milestone by recording nearly $10 million in NFT sales in a single day, surpassing Solana, which sold slightly over $4.1 million, according to data from CryptoSlam. The flippening occurred as Solana’s sales volume experienced a more than 17% decline in a day, while Polygon’s NFT sales volume increased by 42%.
This surge in Polygon’s NFT sales volume is notable, reaching levels not observed for more than half a year. The data suggests a renewed interest in MATIC NFTs, indicating a potential significant impact on the ecosystem in the coming months.
NEW: Polygon NFT sales volume has reached $47M in the month of December.
This is the highest monthly volume since February 2023. pic.twitter.com/tD6F8L6c2u
— Today In Polygon (@TodayInPolygon) December 31, 2023
MATIC Price Surge
During this period, MATIC’s price chart exhibited a positive trend, instigating increased activity among MATIC bulls. MATIC has recorded a growth of over 4.74% in the past day, as reported by CoinMarketCap.
As of the current writing, MATIC holds a market valuation exceeding $8 billion and is trading at $0.83.
Despite these optimistic signs, some aspects revealed less favorable patterns, including a decrease in the chart of unique addresses and a decline in the number of transactions following a peak on December 25, 2023.
