Market News- Polygon grew to become typically the most popular blockchain with 41%.
- Decentraland may be the major driver for Polygon’s growth.
Polygon Network, a platform to construct and scale decentralized applications and projects, emerges as typically the most popular blockchain for Web3 adoption by famous labels. It grew to become a tight schedule-to put for businesses trying to enter Web3 by surpassing Ethereum.
In 2022, Ethereum was typically the most popular place to go for famous labels. The Polygon network were built with a 23% share of the market, while Ethereum taken into account 43% from the 241 blockchain projects launched. However, within the first quarter of 2023, it grew to become probably the most popular blockchain with 41%, adopted by Ethereum with 34%.
Based on NFT Tech, 79 brands have launched NFTs around the Polygon Network since the beginning of 2022, with 28 of individuals coming in Q1 2023. Decentraland is a major driver of Polygon’s recent growth. It launched 17 digital collectibles by famous labels in Q1 2023.
NFT Tech research data implies that 320 brands have launched Web3 projects, with 90% from the brands selecting the Ethereum blockchain, since 2022. The Ethereum and Polygon Network have taken into account 67% of activity.
