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.
