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- DappRadar launched a report on NFT gross sales and buying and selling quantity.
- The report unveils that Solana ranks highest for high NFT blockchains by buying and selling quantity.
- Solana competes with Polygon, which has a 26.9% dominance over NFT gross sales.
The newest NFT report by DappRadar reveals that Ethereum’s dominance of the NFT market in terms of NFT gross sales has slipped to only 5.7%. DappRadar additionally highlighted that the drop in Ethereum’s NFT gross sales dominance reveals that the blockchain is primarily utilized by the NFT aristocracy.
The report reveals that Solana is true behind Ethereum, bagging the second spot with a buying and selling quantity of $22.7 million. The Solana blockchain represents 6.7% of the full NFT buying and selling quantity. It additionally has a 13% share of complete NFT gross sales.
With a outstanding buying and selling quantity of $18.2 million and a formidable 26.9% dominance in NFT gross sales, Polygon has solidified its place as essentially the most distinguished blockchain when it comes to gross sales rely.
This achievement is a testomony to Polygon’s latest strategic choices, because it has grow to be the popular alternative for quite a few Internet 2.0 initiatives aiming to launch NFT initiatives at a low entry worth. Moreover, Polygon’s ecosystem features a multitude of video games incorporating NFT mechanics, corresponding to Planet IX, The Sandbox, and Oath of Peak.
Polygon has additionally emerged as the preferred blockchain in 2023 to this point. The information from NFT Knowledge reveals that Polygon’s reputation went up from 23% in 2022 to 41% in Q1 2023. This has additionally attracted some notable trade gamers, together with Nike, Reddit, and Starbucks.
The DappRadar information additionally confirmed that NFT gross sales might drop beneath $1 billion in Might. In response to the information, the buying and selling quantity presently stands at $333 million from 2.3 million gross sales.