icon
icon
icon
icon
Upgrade
Upgrade

News /

Articles /

Polygon NFTs Surge 20% in Sales, Outpacing Ethereum

Coin WorldTuesday, Apr 22, 2025 5:37 am ET
2min read

Polygon-based non-fungible tokens (NFTs) have surged to the top of digital collectible sales, marking a significant shift in the NFT market. Over the past seven days, Polygon nfts experienced a 20% increase in sales, outpacing Ethereum collectibles. According to data from CryptoSlam, Polygon NFTs achieved a sales volume of $22.3 million, capturing 24% of the overall NFT sales volume for the week, which totaled $92.9 million. This surge in activity also saw a notable increase in the number of NFT buyers on the Polygon network, with over 39,000 buyers recorded for the week, an 81% increase from the previous week.

Ethereum, traditionally a leader in the NFT space, saw a $19.2 million sales volume for the week, placing it in second position. Following Ethereum were Mythos Chain with $14.3 million and Bitcoin-based collections with $14.1 million in sales. The surge in Polygon NFT sales was primarily driven by a single real-world asset (RWA) NFT collection, highlighting the growing trend of RWA tokenization in the NFT space. RWA tokenization involves converting tangible assets into digital tokens on a blockchain, enhancing accessibility and trading opportunities for these assets. This process transforms real-world assets such as art, property, or stocks into digital tokens that can be bought, held, or traded.

CryptoSlam data revealed that the Courtyard NFT collection was the key driver behind Polygon's surge. The collection achieved a sales volume of $20.7 million, outperforming other popular NFT projects for the week. Courtyard is an RWA marketplace specializing in graded physical card collections, including popular items like Pokémon, basketball, and baseball cards. The platform ensures the security and authenticity of these tokenized cards by storing and insuring them in a vault operated by a security company. This means that the NFTs are physically backed, and users have the option to redeem the physical card, at which point the NFT is burned and removed from the marketplace.

The rise of onchain RWAs has been a prominent narrative in the first quarter of 2025. According to data from RWA.xyz, tokenized assets have reached a value of $21.2 billion, with over 97,000 asset holders. This figure excludes the value of stablecoins, which is already at $227 billion. The growing popularity of Polygon NFTs reflects a broader trend in the crypto community towards more efficient and cost-effective blockchain platforms. Ethereum, while still a dominant player, has faced criticism for its high gas fees and network congestion. Polygon, with its lower transaction fees and faster processing times, has emerged as a more accessible and user-friendly alternative, attracting both creators and collectors.

This shift in market dynamics could have significant implications for the future of the NFT ecosystem. As more users and developers migrate to Polygon, the network may continue to gain traction, potentially challenging Ethereum's dominance. However, Ethereum's upcoming upgrades, such as the transition to Ethereum 2.0, aim to address these issues and improve the network's scalability and efficiency. The competition between Polygon and Ethereum underscores the rapid evolution of the blockchain industry, where new technologies and platforms are constantly emerging, offering both opportunities and challenges for market participants. The success of Polygon NFTs serves as a reminder that innovation and adaptability are crucial for staying competitive in the dynamic world of cryptocurrency and blockchain technology.

Comments

Add a public comment...
Post
Refresh
Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
You Can Understand News Better with AI.
Whats the News impact on stock market?
Its impact is
fork
logo
AInvest
Aime Coplilot
Invest Smarter With AI Power.
Open App