Polygon NFT Ecosystem Overview: Web2 Companies Enter, PFP NFTs, Gaming, and Secondary Market Applications
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Polygon NFT Ecosystem Overview: Web2 Companies Enter, PFP NFTs, Gaming, and Secondary Market Applications
Recently, Polygon's NFT ecosystem has been thriving.
Navigating Web3 tides with focused insightsAuthor: 100y.eth
Translated by: TechFlow
Recently, Polygon's NFT ecosystem has been thriving. Following the collapses of Terra and FTX, many projects have migrated to Polygon. In addition, Polygon has gradually become the destination of choice for Web2 companies launching NFTs.
In this article, we will explore Polygon’s NFT ecosystem, divided into six categories:
- Web2 Companies
- PFP
- Gaming
- Utility
- Meme
- Marketplaces
Web2 Companies
Starbucks is leveraging NFTs on the Polygon network to deliver Web3 experiences. Users can earn NFTs by completing various tasks—such as quizzes, mini-games, or even purchasing and drinking coffee in real life.
Stamp NFTs can be traded on Starbucks’ own marketplace. To improve user experience, the platform offers onboarding services and handles gas fees on the backend, enabling users to interact with it without needing to understand blockchain technology.
Nike has shown strong interest in Web3, including its acquisition of RTFKT. Recently, Nike launched DotSwoosh, a new Web3 platform serving as a space for Nike digital items. Creators are expected to earn royalties through DotSwoosh.
Like Starbucks, .swoosh aims to be accessible to users without blockchain knowledge. You can already see a large number of users minting .swoosh addresses.
Reddit, one of the largest online communities globally, has launched avatar NFT collections on the Polygon network. It allows whitelisted creators to design avatars and sell them as NFTs.
So far, OpenSea has gathered 3 million users, but Reddit has attracted over 6 million holders within just six months. Of course, these wallets aren't frequently active on the Polygon network. However, Reddit has effectively brought millions of users into the blockchain ecosystem.
PFP
CyberKongz VX is part of the early popular Ethereum NFT series CyberKongz. This project reimagines existing PFPs in 3D form and is usable within The SandboxGame metaverse.
HellCatsNFT has migrated from Terra and currently holds the highest trading volume on the OnePlanet NFT marketplace. They focus on utility, offering staking services that allow users to earn points to purchase products or enter major raffles.
y00tNFT is a PFP project by dustlabs, known for building Degods. With strong community leadership from Kevin, y00ts are poised to collaborate with major companies already integrated on Polygon.
Gaming
The SandboxGame is a metaverse game that allows creators to generate income by designing voxel-based maps and items. Originally built on Ethereum, the project migrated to the highly scalable Polygon network to enhance user experience.
DerbyStars is a horse racing + metaverse game that has migrated from Terra. They partnered with the OnePlanet marketplace to offer free mints for randomized mystery boxes. They recently released an early access version!
And Phantom, a Web3 game developed by Animoca’s subsidiary, offers significantly higher graphics and gameplay quality compared to existing P2E games.
Utility
Lens Protocol is a Web3 decentralized social protocol built on Polygon. User profiles exist as NFTs and can be traded on marketplaces.
Meme
CollectTrump is a Trump-themed card NFT initially designed as a utility NFT with rewards. However, it has since evolved into a sought-after Meme NFT within the Polygon ecosystem, with prices continuing to surge even after reward programs ended.
Marketplaces
OpenSea, the flagship marketplace on Ethereum, supports multiple chains and currently leads in trading volume on Polygon. Popular high-volume projects include: Trump cards, The Sandbox, and MocaVerse.
OnePlanet, in contrast, is a native marketplace on Polygon. Having migrated from the Terra network, it has successfully launched 48 NFT projects.
OnePlanet carefully curates and selects projects. Additionally, they operate their own launchpad. Recently, they supported randomized blind box drops for DerbyStars and minting events for Hellcats.
Conclusion
Another advantage of Polygon is its low transaction fees, making it an attractive option for NFT creators and collectors. As interest in and adoption of blockchain technology and NFTs continue to grow, the Polygon NFT ecosystem is likely to keep expanding in the future. It will be fascinating to observe how the platform evolves in the coming months and years, and what new projects and collaborations emerge on Polygon.
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