Here’s How Polygon (MATIC) Flipped ETH in NFT Sales Volume

Polygon’s 24-hour NFT sales volume surpasses Ethereum for the first time.

NFT's appearing from a landscape with a massive Polygon Matic coming out his mouth.
Created by Kornelija Poderskytė from DailyCoin
  • Polygon (MATIC) NFT sales volume has surpassed Ethereum for the first time.
  • The record-breaking run is tied to a newly launched game by STEPN developers.
  • The game has been driving activity on the network for weeks.

The Polygon (MATIC) NFT ecosystem is starting 2024 on a high, picking up from where it left off in 2023. After finishing the previous year with NFT sales volume at a ten-month high, Polygon’s NFT ecosystem has now kicked off the new year with another significant milestone, with its sales volume surpassing that of the Ethereum blockchain for the first time.

What’s Driving the Polygon (MATIC) NFT Buzz?

As highlighted in an X post on Sunday, January 7, by Today In Polygon, at some point in the past 24 hours, the NFT sales volume of the Polygon (MATIC) network surpassed that of Ethereum for the first time, recording a 24-hour sales volume of over $10.25 million compared to the latter’s $10.16 million.

Polygon’s record-breaking run is tied to Gas Hero, a newly launched massive multiplayer online game (MMO) on the network. At the time, CryptoSlam data showed that four of the game’s NFT collections ranked second, third, fourth, and sixth in sales volume across all blockchains. With a combined volume of over $8 million, these four collections accounted for over 80% of Polygon’s NFT sales volume within the period.

NFT collections ranked by 24-hour sales volume.
NFT collections ranked by 24-hour sales volume. Source: Today In Polygon

At the time of writing, Polygon (MATIC) has slipped back into third place behind Ethereum in the 24-hour NFT sales volume ranking. However, the Gas Hero Common Heroes collection on Polygon now sits atop the list of NFT collections by sales volume in the past 24 hours, ahead of Bitcoin‘s Uncategorized Ordinals.

Why Gas Hero Is Driving Activity on Polygon (MATIC)

As has been covered in previous reports by DailyCoin, Gas Hero has been driving NFT activity on Polygon for the past few weeks, not just the past 24 hours, as Find Satoshi Labs kicked off multiple promotional activities to whip up excitement ahead of the game’s launch. Confidence in the game’s prospects is also likely bolstered by the success of Find Satoshi Labs’ other projects.

The firm had developed the popular STEPN project, which took the crypto space by storm in early 2022. The firm’s latest venture, Gas Hero, was launched in public beta on January 3.

On the Flipside

  • Polygon has failed to sustain its leap over Ethereum.
  • It remains to be seen if the Gas Hero hype can be sustained.

Why This Matters

Surpassing Ethereum in NFT sales volume represents a significant milestone in Polygon’s ecosystem growth and adoption.

Sponsored

Read this for more on the Polygon NFT ecosystem and the Gas Hero hype:
Polygon Hits 10-Month NFT Sales Peak in Strong 2023 Finish

Learn about Bitget’s plans for 2024:
Here’s How Bitget Plans to Build on Its 2023 Milestones

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.