• Polkadot’s weekly roundup included notable developments in its ecosystem, such as cross-chain interoperability and NFT creation.
• Santiment’s chart revealed that DOT’s NFT ecosystem witnessed growth after the announcement, with increased total NFT trade counts and trade volume in USD.
• Other updates include Subsocial using Crust Network to manage content storage and Bitgreen launching sustainability projects in Africa and Peru.
Polkadot Posts Weekly Roundup
Polkadot [DOT] posted its weekly roundup on 6 February, which mentioned all the notable developments that happened in its ecosystem during the last seven days. The developments were not only confined to Polkadot but also included updates for its parachains and other networks.
Lively Week of Developments
Stella Swap, Squid, and Axelar network joined forces to bring cross-chain interoperability to the Moonbeam ecosystem. This gave dApps built on Moonbeam access to new cross-chain functionality and improved user experience. Efinity also made an announcement that added value to Polkadot’s NFT ecosystem by allowing users to create their own NFT collections on Efinity using Polkadot. Subsocial, which is a web3 social protocol moving to Polkadot, revealed that developers building applications on Subsocial can use the Crust Network to manage content storage, ensuring users‘ content is secure and censorship-resistant. Moreover, Bitgreen, a sustainability L1 on Polkadot, launched a hydro project in Africa and a conservation project in Peru.
Metrics Support DOT
Santiment’s chart followed the trajectory of Polkadot’s announcements as it revealed growth in DOT’s NFT ecosystem with increased total NFT trade counts and trade volume in USD post the aforementioned announcement. This helped increase DOT’s value as investors took notice of these metrics supporting it.
NFT Space Witnesses Growth
PolkaDot’s NFT space witnessed growth following these developments along with increasing values of DOT due to supportive metrics associated with them. This marks positive progress for PolkaDots growing network of resources as more platforms join hands with it for better interoperability between chains leading to improved user experience within ecosystems like Subsocial or through services like Stella Swap offering swap options across various chains with just one click .
To conclude ,Polkdot had another busy week filled with progress across multiple projects leveraging its network resulting in further improvement of user experience ,while simultaneously helping increase value associated with DOT due to supportive metrics backing up development advances .