OpenSea records an increased number of users in its community as news of the NFT (Non-Fungible Token) launch emerges.
Prada And Adidas To Release NFT On The Polygon Blockchain
Polygon analysts noted that the active users in the community had increased by over 23% as two big brands are set to release an NFT. Prada, the Italian fashion house, has joined Adidas on an NFT project. When this project is ready, it will be launched on the Polygon network. The sportswear company, Adidas, has confirmed the collaboration and stated the NFT would be a user-generated project. The title of the project is “Adidas for Prada Resource.”
Polygon sold another set of LAND NFTs that belonged to London and Tokyo Metaverse-Cities using the Division market. It would surprise you to know that these LAND NFTs were manufactured on the mainnet of the company.
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More Users Buy NFT
As reported by Polygon, OpenSea recorded high NFT activity in January compared to the number sold in December. The average number of NFT sold is almost 3X that of ETH.
Also, the number of active users spiked by about 23%. As of December last year, the number of active users was 176k, but the company ended January with 218k users. As for the number of NFTs sold, 2.68 million was sold in January compared to December, which was 1.99 million.
Last year, the Ethereum blockchain was upgraded by introducing a “burning mechanism.” Recently, that same upgrade was added to the Polygon scaling network. Also, the company added EIP-1559 to its network to allow for the burning of the primary token on the platform called MATIC. As of the time of this post, the update has already been introduced.
Currently, MATIC is trading at $1.56 and is ranked 14 on the list of top cryptos, as stated on CoinMarketCap. Also, the cryptocurrency market cap has dropped from $12B to about $11B.
The NFT market of Polygon hosts some popular collectibles that have raked in millions of dollars in the past year. An example is the CryptoPunks and Bored Apes, which produced about $234m. Other collectibles like Mutant Ape are also at the top of the chart and setting record prices.
The NFT Market is growing every day, and more growth will be recorded in the coming months. Let’s watch and see how the partnership between Prada and Adidas will perform.
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