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Polygon’s NFT Market Demonstrates Signs of Significant Increased Adoption, but Not Growth in Sale Volume

Amid a crypto winter exacerbated by the FTX fallout, first-time and returning buyers have reached all-time highs in Polygon’s non-fungible token market. Yet, sales volumes are near all-time lows.

Polygon’s NFT market is currently experiencing significant increased adoption, thanks to its collaborations with name-brand companies such as Reddit. Despite crypto winter, first-time and returning buyers per day in Polygon’s non-fungible token (NFT) market reached new all-time highs during the last month of the year, per data from blockchain analytics platform Nansen.

The surge comes even as NFT ecosystems on other chains such Ethereum and Solana have a decreasing number of users per week. Solana’s NFT users per week dropped from over 160,000 users in late September to less than 60,000 users today, while Ethereum’ users per week dropped roughly 250,000 users to some 183,000 users in the same time period.

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