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.

#SOLANA #POLYGON #nftcommunity #NFT #Binance

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Polygon Labs has started Polygon 2.0, a major Ethereum upgrade. They released three proposals to make Ethereum better and started changing MATIC to POL tokens.

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Polygon Labs has kicked off Polygon 2.0, a big upgrade for Ethereum, with three proposals to improve it and the transition of MATIC to POL tokens. This marks a significant step for Polygon as they aim to make Ethereum more scalable and have better liquidity.

Polygon 2.0 Implementation Proposal Announced

On September 14, Polygon Labs made an important announcement. They shared that they’ve released three proposals to improve Polygon, called Polygon Improvement Proposals (PIPs). These changes are part of their Polygon 2.0 plan, which they started working on in June. They expect to finish these improvements in early Q4 this year.

One of the main goals of Polygon 2.0 is to give more power to the community. This means the people who build things on Polygon and everyone else who helps make Polygon better will have a bigger say in how things work.

PIP-18 is a plan to create a network of connected chains using a technology called zero knowledge. This will make Ethereum much bigger and more powerful, like the Internet.

One big change is that they will switch from using MATIC to POL tokens for certain things in Polygon. These tokens will be used for staking and other important stuff.

PIP-17 is about how they will use POL tokens. It will help with things like staking, which is like saving your tokens to earn rewards, and making sure the community has a say in how things work.

PIP-19 is a plan to make sure everything still works when they switch from MATIC to POL tokens. They will upgrade something called the Bridge Contract to make this happen.

MATIC Price Rises Slightly in 24 Hours

In the last day, the price of MATIC, a cryptocurrency, increased by just over 1%, reaching $0.521. However, the news about Polygon 2.0 and the migration of the POL token didn’t spark immediate interest from traders. The lowest and highest prices in the last 24 hours were $0.509 and $0.524, respectively

Trading volumes have decreased by 12% during this time, indicating a lack of interest from traders. Additionally, concerns from the SEC about MATIC’s classification as securities and Binance’s decision to drop support for Polygon and remove MATIC pairs have influenced its price movement.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#cryptomarket #POLYGON #Ethereum #POL #MATIC