Nfts
Polygon POS NFT Sales Hit $1.6M, Gaming Revenue Up 486% in Q1 2024 | CryptoTvplus
According to a report from Messari, Polygon POS had on average $1.6 million in NFT from January to March 2024. The figure reveals Polygon’s position as a vital platform for digital asset transactions in the crypto industry.
Polygon PoS works using a Plasma framework and Proof-of-Stake (PoS) consensus. It relies on around 100 validators that stake MATIC tokens to validate transactions independently and is EVM compatible.
Messari explained that among the list of NFTs on the Polygon network, the DraftKings Reignmaker collection stands out as having the highest trading volume.
DraftKings Reignmakers Collection NFTs are a set of digital trading cards that feature NFL players and are used to enter fantasy contests.
The Polygon Origin Pass dominated sales volume on Polygon POS, with its unique collection of digital assets leading the pack. Dew, a popular NFT aggregator and incubator within the Polygon ecosystem, explicitly designed this exclusive NFT collection. THE Polygon Mini Girl And Polygon Gas Hero Collections following closely behind, which also saw significant trading activity on the platform.
Daily gaming transactions increased 469% quarter-on-quarter to 734,000
Daily gaming transactions on Polygon Points of sale jumped 469% between Q4 2023 and Q1 2024, indicating significant growth in the network’s gaming business. Additionally, daily gaming addresses on the network soared by 1,615%, reaching a remarkable 207,000 during the same period.
MATR1X FIRE, a mobile shooter based on Polygon, is one of the drivers of this remarkable growth. By seamlessly integrating blockchain technology with traditional gaming mechanics, MATR1X FIRE has attracted a large and engaged user base, contributing to the substantial increase in transactions and gaming addresses on the Polygon POS network.
It offers players a cyberpunk-themed gaming experience where they can engage in dynamic battles using various guns and tactical strategies. The game allows players to earn rewards through gaming activities, leveraging blockchain to ensure transparency and security of in-game transactions and asset ownership.
In addition to the game mentioned above, Immutable, in collaboration with King River Capital and Polygon Labs, spear the $100 million Inevitable Games Fund (IGF) to support the growth of the Web3 gaming industry.
The fund aims to provide professional and sophisticated investors with the resources to invest in high-growth opportunities in the sector. King River Capital manages IGF, with Immutable and Polygon Labs as advisors.
The fund has already secured $30 million in its first close, with commitments from investors including Alpha Wave Ventures, Merit Circle and several family offices.