Polygon NFT landscape has its historic moment, more inside

2 Mins read

  • NFT sales worth more than $36 million were recorded on Polygon PoS in the last week. 
  • The driving force was the collections from Web3 game Gas Hero.

Polygon’s [MATIC] non-fungible token (NFT) ecosystem was in the middle of an impressive show, compelling market observers to sit up and take notice.

Historic feat for Polygon

Recently, the network reached a historic milestone after it overtook traditional powerhouse Ethereum [ETH] in 24-hour NFT sales for the first time, according to an X (formerly Twitter) post.

At press time though, Polygon slipped back to the third position, AMBCrypto discovered using the latest data from CryptoSlam.

However, even temporarily outperforming its base layer in one of the important Web3 sectors was a significant achievement for a layer-2 (L2) network.

Polygon’s NFT landscape witnessed a considerable expansion since the start of 2024. NFT sales worth more than $36 million were recorded in the last week, marking a threefold jump from the period before.

This was the network’s best performance in the NFT realm since August 2023.

Source: CryptoSlam

Gas Hero turns out to be the catalyst

The driving force behind the Polygon NFT boom was the collections from Web3 game Gas Hero. Their contribution was also recognized by Polygon co-founder Sandeep Nailwal.

Indeed, Gas Hero Common Heroes was the most traded collection in the last 24 hours, with sales exceeding $3 million. The collection even trumped Ordinals NFTs that catapulted Bitcoin [BTC]  to the top of the rankings.

Launched just a few days back, Gas Hero brands itself as a social-strategy Web3 game.

Players form squads of heroes and send them into battle to acquire power, collect NFTs, and earn GMT, the token that underpins the ecosystem of Find Satoshi Lab, the game creator who was also behind the well-known Web3 lifestyle app STEPN.

AMBCrypto observed DappRadar’s data and observed a sharp rise in active users and transactions for Gas Hero on the day of the launch. Though the activity tapered down in subsequent days, the game has been an out-and-out success.

Source: DappRadar

MATIC falls on expected lines

Meanwhile, Polygon’s native token MATIC succumbed nearly 6.8% in the last 24 hours, AMBCrypto found out using CoinMarketCap’s data.

The slump was part of a broader trend in the market as traders looked to rotate capital from altcoins to Bitcoin, which was expecting its first spot ETF in the U.S.


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.