y00ts Becomes Most Traded Polygon NFT Collection on OpenSea
At the time of writing, y00ts has become the most traded Polygon NFT collection on OpenSea. Over the past month, the collection has clocked over $4 million in volume from 924 sales. This surge in sales has resulted in over 12,690 y00ts making Polygon their home, representing a market cap of $48 million. Polygon’s non-fungible token (NFT) landscape has witnessed a considerable expansion, with Polygon NFTs recording a cumulative sales volume of more than $22.7 million over the last 30 days, according to a Dune dashboard.
Expanding NFT Landscape on Polygon
The past month has seen a surge in sales, with about 293k total trades, representing a jump of 36% from the previous month. The daily volume reached its monthly peak on 31 March, with sales worth nearly $2 million settled across different marketplaces. A significant part of this expansion could be attributed to the migration of the popular NFT project, y00ts.
y00ts Embellishes Polygon
y00ts, a DeLabs-owned profile picture collection, was the undisputed leader on OpenSea with over 23% of the Polygon’s NFT market share. On MagicEden, y00ts captured an even larger chunk, accounting for 45% of the total volume of Polygon NFTs on the marketplace. Once the most popular and valuable NFT collections on Solana, y00ts started its migration to Polygon last month. About 84% of the total y00ts have been bridged to the Ethereum sidechain as of this writing, data from Dune revealed.
Consisting of 15,000 yeti-like avatars, y00ts was launched on the Solana chain in September 2022. A $3 million grant from Polygon was given to DeLabs, the parent company, to help with the transition. Other high-profile ecosystem additions have also helped boost Polygon. On 11 April, social platform Reddit launched its third generation (Gen 3) NFT collection on Polygon in collaboration with over 100 artists.
Impact on MATIC
The growing NFT ecosystem has seemed to have propelled MATIC in the last few days. As per CoinMarketCap, the native coin exchanged hands at $1.171 at press time, recording 7-day gains of 3.85%.
- y00ts is the most traded Polygon NFT collection on OpenSea
- Polygon NFTs recorded a cumulative sales volume of over $22.7 million in the last 30 days
- About 84% of y00ts have been bridged to the Ethereum sidechain
- A $3 million grant from Polygon was given to DeLabs to help with the migration of y00ts
- Other high-profile ecosystem additions have also helped boost Polygon
- The growing NFT ecosystem has seemed to have propelled MATIC in the last few days
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