Polygon NFTs hit a 3-month high trading volume in OpenSea
The Polygon network warms towards controlling the NFT world as its trading volume ascends to $11,405,423, a 3-month high in the OpenSea marketplace in a single day.
Increased trading volume through the Polygon network
The recent increase in trade volume in the OpenSea marketplace can be attributed to the Polygon network. Records indicate that Polygon NFTs attracted a single-day total of $11,405,423 in trading volume, which amounts to more than half of the Ethereum daily volume at $19,686,429. The increase represents a 90-day high in the OpenSea NFT marketplace as the Polygon daily trading volumes continue to rise.
A 90-day Ethereum/Polygon ratio OpenSea marketplace. Source: Dune
The increased activity on the polygon network comes from the partnership between Reddit and the NFL, which has advanced the minting of Super Bowl Collectible Avatars in the polygon network. The partnership broke an all-time high of Reddit Collectible Avatar daily, which saw a mint of 1 million avatars in just four days, reaching the all-time high of 507,857 mints in a day. The amount of collectible avatars under the polygon network collected on Reddit has grown to 10.61% of the minted avatars.
Reddit and its NFL collaboration
Reddit started to mint the 500,000 collectible avatars for the super bowl’s top two finalists on February 6. The collection’s creators ensured the NFTs have clothing depicting the colors of Kansas City Captains and Philadelphia Eagles to enable the NFL Redditors to show solidarity with the league. Every fan can get a free NFT before February 13, when the Super Bowl LVII event occurs.
Reddit enjoys a great success story in the mainstream industry and has joined the NFT space to raise its touch and enthusiasm. The same success might be seen in the NFT industry as the company stretches its potential in the digital assets platform. Its first released NFT collection in October 2022 attracted revenue amounting to more than $10 million. Just about 90 days after the launch of its NFTs, some of them have made it to the top ten among the OpenSea highest trading volume NFTs.
According to Dune Analytics, Reddit boasted over 9 million NFTs operating in the Polygon network. Users can trade and keep their NFT avatars safe through the OpenSea marketplace.
Advancement of the Polygon network in the NFT world
Polygon network continues to attract NFTs, as is seen in the OpenSea marketplace. The polygon network provides more affordable and faster-moving NFT transactions, positively impacting the NFT world.
The continued increase of trade volumes by Polygon NFT is a sign of the growth of the network in the NFT sector. Hitting a 3-month high in the OpenSea marketplace sends signals for the bright future of the Polygon NFTs. The collaboration between Reddit and NFL gives room for further growth of the Polygon network.