OpenSea is the world’s first and largest marketplace for non-fungible tokens (NFTs) and crypto collectibles. Where users can buy, sell, and discover digital assets. NFTs can be collected, given away, or sold. Much of the NFTs are currently on Ethereum.
According to key sources, OpenSea sold a total of 1.6 million NFTs in August 2021, of which Polygon users contributed 20% of the transactions due to 300,000 NFTs traded. The OpenSea marketplace has found a total of 215,000 first-time users who have made at least 1 transaction. And the interesting part is that 70% of the posts are from Polygon users.
OpenSea had a total of 320,000 active users, of which approximately 60% of all active users are from Polygon. Out of a total trading volume of $ 3.3 billion, Polygon accounts for about 2% of the trading volume, which equates to $ 50 million.
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The reason for Polygon Excellence
OpenSea users can choose which blockchain to create NFTs on. Polygon supports Polygon ETH by default. However, users can choose between Polygon DAI and Polygon USDC.
Polygon offers a number of advantages such as a combination of the best Ethereum and Sovereign blockchains, lower gas fees, powerful, scalable, modular and secure.
Another important feature of the polygon is that it can create a semi-fungible object for free. Semi-fungible tokens are tokens that can be both fungible and non-fungible. Users can increase the supply of their NFTs, which allows users to increase the number of imprints. This means that the created item can belong to multiple wallets.
In conclusion, it is worth noting that Polygon represents an alternative to Ethereum in the NFT space by being a top player in the OpenSea marketplace. Creators don’t have to look for other blockchains as they offer bells and whistles about others. And numbers justify its advantages.
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