Blockchain
- Polygon became the most popular blockchain with 41%.
- Decentraland is the main driver of Polygon’s growth.
Polygon Network, a platform for building and scaling decentralized applications and projects, is emerging as the most popular blockchain for Web3 adoption by major brands. It became the go-to place for companies looking to enter Web3 by surpassing Ethereum.
In 2022, Ethereum was the most popular destination for big 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 early 2022, with 28 in Q1 2023. Decentraland has been a key driver of Polygon’s recent growth. It launched 17 digital collectibles from major brands in the first quarter of 2023.
NFT Tech research data shows that 320 brands have launched Web3 projects, with 90% of brands opting for the Ethereum blockchain since 2022. The Ethereum and Polygon network account for 67% of all activity.