Despite a significant drop in non-fungible token (NFT) sales on the OpenSea platform, Ethereum (ETH) and Polygon (MATIC) have shown resilience in the market, driven by anticipation of bitcoin spot ETF approval, new partnerships, increased Ethereum stakes, and zkEVM adoption.
Ethereum’s NFT revenue plummeted from $659 million in January 2023 to $74 million in September, while Polygon’s revenue fell from $109.12 million to $4.5 million over the same period. Despite this downturn, both cryptocurrencies showed improved market performance in October. ETH increased by 8.7%, while MATIC rose by 14.3%. If network activity continues to increase, analysts predict that ETH could rise 17.1% to $2,120 and MATIC could rise 42.2% to $0.923.
In contrast to OpenSea’s declining NFT sales, NuggetRush (NUGX) is preparing to launch a play-to-earn mining game with high earning potential. The game features a richly detailed virtual landscape with NFT characters such as skilled miners and businessmen. Players will mine mineral resources and earn real-world rewards by converting NFT into gold using the NUGX token, which is currently in the pre-sale phase of its Initial Coin Offering (ICO). Given its growth prospects, analysts believe that NUGX is one of the most promising new ICOs on the market today.
