Clay Nation Launches NFT Bridge Cardano-Polygon in Sandbox
Date: 2023-11-25 Author: Dima Zakharov Categories: IN WORLD
The Bridge Between Realms
Developers at Clay Nation revealed the launch of a bridge protocol, a partnership with The Sandbox, aimed at integrating Cardano-based NFTs into Polygon's digital reality gaming experience. This bridge allows Clay Nation's NFT holders to use their tokens as avatars within virtual reality games supported by Polygon.
Dual Functionality
What's intriguing is that while transferring these tokens onto the Polygon network, their original versions remain functional within Cardano. This dual functionality seeks to attract additional interest in the digital assembly. Analysts have noted a recent decline in NFT sector popularity.
A Decline in NFT Sales
In recent weeks, the NFT market has witnessed a significant decrease in sales, with the Forkast 500 NFT index, representing the performance of the top 500 digital collections across different blockchains, hitting a new record low of 1871.98 points on October 7th.
Clay Nation's Surge in Sales
According to CryptoSlam, Clay Nation's daily sales surged by 129% over the past day, reaching a meager 5685. The Forkast CAR NFT Composite index also hit a historic low of 880.26 points as of September 28th, showing a 31% decline since the beginning of the year. The Forkast POL NFT Composite index plummeted by 11.15% after its figures dropped to 645.99 points.
Market Overview
Recently, Crypto.ru reported a global NFT market sales volume of $55.1 million for the week of October 2nd to 8th, 2023. This figure marks a record low in the past 2.5 years, signaling a lack of confidence among investors and collectors in the industry, as highlighted by industry analysts.
