NFTs continue to show life, bringing lots of action to decentralized exchanges, and NFT platforms, PancakeSwap and BabySwap have notably topped the leaderboard.
Tracking the Trading Volume of NFT Marketplaces
Treasureland, a large multi chain NFT market aggregator, recently posted on their twitter the top 10 NFT marketplaces with the highest trading volume over the last 7 days from July 5th. As shown in the image below, courtesy of Treasureland, the top five NFT marketplaces with the highest trading volume were as follows:
BabySwap Finance (same as BabySwap NFB) over the last 7 days has led the NFT marketplaces, with PancakeSwap following far behind in second. What’s interesting is BabySwap NFB has a huge lead in 7 day transaction volume, with 7 times more BNB being transacted through BabySwap’s NFT platform then PancakeSwap with the second most trading volume. SEASCAPE, Alpaca Finance and Binance NFT are nowhere close to BabySwap’s recent 7 day transaction volume.
What is BabySwap?
BabySwap is an automated market maker and NFT exchange on the Binance Smart Chain network. The project acts like an incubator for new projects, while providing users the ability to trade tokens as well as liquidity pools for mining and yield farming. Although BabySwap looks to become a popular exchange, it would appear their NBFs (NFTs) have really helped the platform garner attention.
An NFB refers to a non-fungible baby, which is the same as an NFT but with more benefits. A NFB differs quite drastically from typical NFTs as an NFB can also be staked for users to mine $BABY (BabySwap’s platform token.) BabySwap NFB offers a virtual / reality NFT ecosystem, with NFTs providing use cases on the platform and toy figurines people can buy in stores to collect.
The image below shows the interesting use cases that BabySwap looks to bring to their growing community.
If looking to buy or check out BabySwap’s NFT marketplace, Treasureland is hosting a BabySwap NBF collection which can be found here!
What is PancakeSwap?
PancakeSwap is the leading decentralized exchange on Binance Smart Chain, with the highest token trading volumes in the market. PancakeSwap runs on Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum or Bitcoin. As a result, trading fees are lower than other top decentralized exchanges, and the protocol offers a secure place to farm yields thanks to their Syrup pools. PancakeSwap has also been selling PancakeSwap themed NFTs. Users can now buy these PancakeSwap inspired NFTs through Treasureland’s marketplace shown below. The NFTs are used as profile picutes and introduce an aspect of gammification to the DEX ecosystem.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.