thenewscrypto.com
- Polygon passes Solana in NFT sales volume.
- Reddit launches its third generation of NFT collections.
Polygon, the decentralized Ethereum scaling platform, overtakes Solana in NFT sales volume. Polygon jumps to the second rank, whereas Solana is at the third rank. Ethereum holds the top spot in the sales volume ranking.
Polygon’s sales volume is around $2,469,752, with an increase of 133.06% in the last 24 hours. At the same time, Solana’s trading volume is around $2,368,436, with an increase of 33.79%. This marks the beginning of the on-chain culture revolution by Polygon.
Reddit launches its NFT collection on Polygon
Following that, the social media platform Reddit dropped its NFT collection on Polygon, featuring thousands of NFTs from over 100 artists. Reddit launched its third generation of the NFT collection. Notably, it expands the number of artist collaborations.
Its previous collections launched on the Polygon network in June 2022. After that, over the following months, Reddit dropped lots of collections that generated significant buzz and attracted over 7.3 million unique wallets.
The new third-generation (Gen 3) collection looks to expand upon the start with much more extensive artistic output, with the first two collections dropping over 100 artists in the Gen 3. The collection’s goal is to attract a huge base of collectors.
Reddit’s impact on the NFT has largely praised over the last year for its artistic-centric approach and for reaching a new web3 audience. At the same time, Polygon overtook Solana to reach the second-highest level in NFT sales volume. Reddit’s new launch indicates that it continues to dominate in the NFT space. Its success rate increases the competition in the NFT market.