Polygon NFTs

Polygon seeks to position itself as the best chain to launch NFTs. It is setting records for volume on OpenSea. Projects like DeGods and Magic Eden migrated some of their offerings from Solana to Polygon. Dive deeper into the world of NFTs on Polygon.

Over 21 million minters created around 91.5 million NFTs in 2022, divided among approximately 531,000 NFT collections.
Uptrend in NFT mints from January to mid-October, followed by a downtrend and then an uptrend again until February 2023.
More than 15% of the minted NFTs were on Galxe and more than 9% on Lens Protocol.
Huge bursts in minted NFTs in April 2022 and October 2022 may indicate new developments or marketing campaigns.
Lens Protocol had a high number of minted NFT collections, especially in February 2023, potentially related to rumors of a Lens airdrop.
Most NFT sales were under $10, with around 22% between $10 to $100, and less than 9% between $100 to $1000.
More weekly unique buyers than unique sellers in the first half of 2022, but this changed in the latter half.
More than 61% of buyers purchased one or two NFTs, and more than 61% of sellers sold one or two NFTs.
Relatively consistent and stable number of NFT collections being traded on Polygon.
Wash trading is a relatively small but noticeable phenomenon in Polygon NFT trading, with less than 1% of sales and 2% of trades being identified as wash trading since 2022, but with occasional spikes in both frequency and volume.
Opensea became the dominant player in the NFT market, with a 50% to 70% share of the total weekly sales since mid-August 2022.
Playdapp had the highest number of sales with more than 1.4M trades, which is 25% of the total share since 2022.
TofuNFT, 0x, and Opensea are the other top platforms, with 1.17M, 1.14M, and 1.12M trades, respectively, which are around 20% shares for each one.
Opensea has the highest wash trading volume while 0x has the highest wash trading frequency.

Main Takeaways

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Polygon NFTs