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Donald Trump helps Polygon NFTs outsell Ethereum on OpenSea exchange for second month

Former President Donald Trump’s non-fungible token (NFT) project helped its host network, Polygon, outsell Ethereum on major NFT marketplace OpenSea for the second month in a row, according to transaction data.

See related articles: New Bitcoin protocol could shake up the NFT market

quick facts

  • According to blockchain Data Aggregator Dune Analytics1.3 million Polygon NFTs were sold in December and 1.5 million in January, compared to Ethereum figures of 995,000 and 1.1 million in the same month.

  • “Trump Digital Trading Cards” was Polygon’s top project, if not individual sales, with 5,517 on OpenSea in January for a total of 1,760 Eth (US$9.2 million).

  • The Trump collection was ridiculed from the right When stay the same When it was released in mid-December, it was due to perceived poor timing, missing the NFT market high of almost a year ago, and a lack of contact with his voter base. rice field.

  • Andy Liang, author of the new book NFT: From Zero to Hero, said: Forst In an emailed statement that Polygon’s growth isn’t really Trump’s fault. The main reason for Polygon’s profit is that it has a vast support system with much lower gas fees (transaction costs on the network) than Ethereum.

  • “The real surge in popularity was [collaboration with social media platform] Reddit August 2022said Ryan. Collaboration with top brands such as meta, Starbucks When Nike It’s also a key indicator that they’re on the right track and accepted by mainstream audiences. ”

  • Lian added that Polygon hosts the majority of more practical projects such as Sandbox and PlanetIX. These were both top 10 ranked collections on all his NFT marketplaces in January.

  • “When there is demand, there is supply,” said Liane. “This is what you see in the case of polygons.”

  • OpenSea is the industry’s largest NFT marketplace, accounting for 40% of total NFT sales in January. According to DappRadar.

See related articles: Polygon Co-Founder Says Bear Market Is Opportunity For Blockchain Builders

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