Polygon POS NFT sales hits $1.6M, gaming txn up 486% in Q1 2024

According to a report by Messari, Polygon POS had an average of $1.6 million in NFT from January to March of 2024. The figure revealed Polygon’s position as a vital platform for digital asset transactions in the crypto industry.

Polygon PoS operates using a Plasma framework and Proof-of-Stake (PoS) consensus. It relies on approximately 100 validators who 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 stood out as having the highest transaction volume.

The DraftKings Reignmakers collection NFTs are a set of digital trading cards that represent NFL players and are used to participate in fantasy contests.

The Polygon Origin Pass dominated the sales volume on Polygon POS, with its unique digital asset collection 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 followed closely behind, which also saw significant sales activity on the platform.

Daily gaming transactions rose by 469% QoQ to 734,000

The daily gaming transactions on Polygon POS surged by a staggering 469% from Q4 2023 to Q1 2024, indicating a significant growth in the network’s gaming activity. Furthermore, the daily gaming addresses on the network skyrocketed by 1,615%, reaching a remarkable 207,000 during the same period.

MATR1X FIRE, a mobile shooting Polygon-based game, is a driving force behind 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 gaming transactions and addresses on the Polygon POS network.

It offers players a cyberpunk-themed gaming experience where they can engage in dynamic battles using various firearms and tactical strategies. The game allows players to earn rewards through gameplay activities, leveraging blockchain to ensure transparency and security in in-game transactions and asset ownership. 

In addition to the game mentioned above, Immutable, in collaboration with King River Capital and Polygon Labs, launched 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 resources to invest in high-growth opportunities in the sector. King River Capital manages the IGF, with Immutable and Polygon Labs as advisors. 

The fund has already secured $30 million in its first close, with commitments from investors such as Alpha Wave Ventures, Merit Circle, and several family offices.