Why is the surge in Polygon’s NFT sales in October of importance? Well, it highlighted a potential growth driver that might make the network more attractive especially to Web2 companies moving forward.
As the NFT market continues to advance, more market participants are jumping on board. Many Web2 companies will opt to use an already existing network rather than building from scratch and that is where Polygon comes in. The fact that some of the top Web2 companies have already identified Polygon as an ideal solution can be considered as a big plus for the network. Additionally, this could encourage more Web2 companies to go down the same route.A look at Polygon’s NFT metrics confirmed that 2022 has certainly not been a good year for NFTs. The network’s total NFT trades volume and NFT trades count demonstrated more activity in the first half than the second half of 2022.
Web2 companies often target the rail segment which may hold the key to future growth for the segment. This was because an NFT value proposition at a much more affordable price point might trigger and demand in the future. This could also be the reason for the involvement of Web2 companies especially through networks such as Polygon might be a game-changer.Subscribe to get it daily in your inbox.
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Source: CryptoAmb - 🏆 22. / 68 Read more »