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2022 looks to have ended with a bang for the NFT industry. high seas Throughout December, the Polygon network recorded an incredible number of transactions. Once the dust settled, the formidable Layer 2 chain sold 1.3 million polygon-based NFTs in the last month of the year. Over $15.3 million in trading volume from over 116,000 traders.
The development highlights a shift in momentum as low-cost NFTs, which demand cost-effective gas tariffs, become more popular. As such, Polygon has established itself as the go-to chain for many gaming properties and loyalty programs that don’t rely on the speculative nature of technology. In addition, marketplaces such as Magic Eden have also added chain support, effectively expanding their already considerable reach.
In terms of active wallets, December ranked the third best month of the year with 11.24 NFTs sold per trader. Given the challenges the entire NFT space faced in his 2022, this is a welcome end. The ongoing crypto winter has meant that many assets have struggled with price floors and even had a negative impact on trading volumes. But as these numbers show, the market remains resilient.
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*All investment/financial opinions expressed by NFT Plaza are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
