Polygon Surpasses Ethereum as Most Popular Blockchain

• Polygon became the most popular blockchain with 41%.
• Decentraland is the major driver for Polygon’s growth.

Polygon Network, a platform to build and scale decentralized applications and projects, emerges as the most popular blockchain for Web3 adoption by major brands. It became the go-to place for companies seeking to enter Web3 by surpassing Ethereum.

In 2022, Ethereum was the most popular destination for major brands. The Polygon network had a 23% market share, while Ethereum accounted for 43% of the 241 blockchain projects launched. However, in the first quarter of 2023, it became the most popular blockchain with 41%, followed by Ethereum with 34%.

According to $NFT Tech, 79 brands have launched NFTs on the Polygon Network since the start of 2022, with 28 of those arriving in Q1 2023. Decentraland has been a major driver of Polygon’s recent growth. It launched 17 digital collectibles by major brands in Q1 2023.

$NFT Tech research data shows that 320 brands have launched Web3 projects, with 90% of the brands choosing the Ethereum blockchain, since 2022. The Ethereum and Polygon Network have accounted for 67% of all activity.