The Polygon chain has been witnessing significant progress as of late. Polygon NFTs on Opensea are scoring higher sales than its rival token, Ethereum. The total number of Polygon NFT sales on OpenSea beat Ethereum each of the past two months. But they’re primarily low-cost assets. Ethereum indeed has a broad spectrum of NFTs. And there are some notable collections that chose to move to the more successful Blockchain. But that does not mean it is safe and anything could happen in the world of NFTs. Let’s dig in.
Ethereum has long been the premier blockchain for NFTs, and it hosts most of the high-value projects Despite its higher gas fees. The Ethereum network has seen exponential growth of NFTs since 2020. Which increased transaction volumes and gas fees during peak usage times.
So, what are gas fees?
Basically, when you want to make a transaction on a blockchain network, you are required to pay a certain amount of gas. Which is a unit of measure used to calculate transaction fees. Although the Ethereum network has high potential and is a safer option in some cases. It also has a notorious reputation for its high gas fees that are not affordable to many. Therefore, these fees have led to a search for alternative solutions such as Polygon, Solana, and Avalanche, which offer lower transaction costs and provide more efficient chains to host high-volume NFT collections.
Polygon NFTs on Opensea
It is worth noting that Polygon is making huge brand deals with big names in the industry like Meta, Starbucks, and Reddit. And not to forget the additional game projects that it hosts. We find that more assets are undergoing trade on the sidechain. Even though the crypto market suffered a downturn. The number of buyers first-time buyers and returning ones in Polygon’s NFT market hit record highs in December 2022.
According to OpenSea, one of the top Polygon NFTs on Opensea in January overall was the controversial Donald Trump digital trading cards, which scored nearly 5,500 sales across all Polygon marketplaces, earning 1,743 ETH (nearly $2.8 million) in trading volume.
Polygon NFTs on Opensea Vs Ethereum NFTs
In January, OpenSea handled over 1.5 million NFTs sales on the Ethereum sidechain Polygon, while Ethereum’s own mainnet estimated a little over 1.1 million sales via the same marketplace. That continues the trend from December when 1.3 million Polyon NFTs on Opensea were sold compared to just under 1 million Ethereum NFTs.
While Polygon NFTs on Opensea surpassed Ethereum in the total number of sales. Ethereum is still seeing considerably higher trading value overall. On OpenSea, Ethereum saw roughly $446 million in total trading volume in January while Polygon NFT sales accumulated just $15.4 million worth.
The Polygon Vs. Ethereum War
Therefore, what we can establish is that although the NFT tokens adhere to this norm. That Ethereum is superior to other networks and tokens, things can change. At any minute actually, due to reasons such as gas fees and more. Polygon NFTs on Opensea are witnessing a significant rise in the charts. This is ultimately a good sign for investors to brush up on their polygon knowledge and think of investing in the network.