Polygon Users Surge Following Trump’s NFT Drop

Credit: AP

If you’ve been paying attention to non-fungible token (NFT) news recently, you’ve probably heard about Donald Trump’s recent NFT collection. And no matter your politics or feelings about the undeniably hilarious “artwork” attached to the NFTs, one thing is certain — Trump’s NFT collection has led to a surge in users of the Polygon network.

Here are some stats about the Trump Digital Trading Cards and their effect on the Polygon network:

  • During the week of December 12th, over 332,000 users traded or minted non-fungible tokens on Polygon.
  • A tweet thread from blockchain analytics firm Nansen revealed that the most expensive NFT purchase of the week came from user @DeFi_Brian for over $22,000.
  • During the NFT drop on December 18th, over 1,000 transactions occurred per hour on the Polygon network.

Polygon is an Ethereum-based layer 2 scaling solution built on the Ethereum blockchain. It has risen in popularity this year mainly because of its fast, cheap, and eco-friendly methods.

Besides the ex-president of the United States, Polygon has also secured partnerships with Meta, Starbucks, DraftKings, Prada, and other major corporations. However, despite the surge in users on its blockchain, the price of $MATIC has yet to pump. Like most of crypto, the coin is still down over the past week.

Most recently, Polygon launched Polygon SDK, a framework for developers to build decentralized applications (dApps) on the network.

Polygon Continues to Make Headlines in Web3

Trump’s decision to launch his first NFT project on Polygon is big news for the blockchain. However, the ex-president isn’t the only one using Polygon to release NFT projects. At Rarity Sniper, we’ve covered several stories this year about Polygon securing partnerships with major companies and brands. Here are the top three.

First, shortly after Polygon made news by pledging to become the first carbon-neutral blockchain, it was included in Disney’s Accelerator Program. For the program, Disney invited six companies to build the future of immersive experiences through virtual and augmented reality, NFTs, and artificial intelligence characters.

Next, on July 30th 2022, the most consumed beverage in the world, Coca-Cola, chose Polygon to drop 4,000 NFTs that will benefit the Special Olympics International. The NFTs were designed to celebrate International Friendship Day, and were created by Tafi — a Web3 company that builds unique shareable avatars.

Finally, just a few weeks ago, we announced that Polygon is partnering with Warner Music Group to launch an NFT music platform in January 2023. The platform called LGND has already onboarded its first music label: electronic dance music-focused Spinnin’ Records.

Even as the NFT and crypto markets continue to slump, Polygon has shown it can secure partnerships with major corporations, brands, and even ex-presidents. Although not everyone is happy about “The Don’s“ NFT collection, it does look like that at the very least, it’s a win for Polygon.