On Ethereum more than $2B was spent on NFTs in Q1, representing an increase of 2,100% in Q4 2020. This is despite the fact that network fees on Ethereum remain incredibly high, and transaction speeds remain slow.
NFTs are currently enjoying fantastic growth with the value of the marketplace rocketing in the first quarter of the year. For savvier users, there are increasingly interesting NFT options on Binance Smart Chain. Users and projects are now migrating to BSC en masse, enticed to make the switch by the network’s ultra-fast speeds and low fees. In a recent piece on Binance Academy, the exchange highlighted three noteworthy NFT projects now available on Binance Smart Chain: BakerySwap, Battle Pets, and PancakeSwap Collectibles. Here we will take a closer look at these projects and see what they have to offer.
BakerySwap is a top-level NFT marketplace on BSC. While users may be more familiar with BakerySwap as a token exchange, the team behind BakerySwap has created an intuitive and easily navigable NFT market.
At the top of the marketplace page, users can select from in-demand artists such as SWOG, CoralCorp, Cookie Munster, Manzo, ToyBoy, and more. Alternatively, users can browse by category, or instead go with gamified NFTs. This is perhaps the most interesting aspect of the BakerySwap NFT marketplace.
BakerySwap allows for the creation of NFT Bakery Combos which can also be used as tools to farm BAKE, the native token of the protocol. Better still, combos of NFTs can have powerful cumulative effects, boosting their power when staked for even greater rewards.
Battle Pets bring collectibles and gaming together on BSC. Battle Pets are cute, furry, and feisty, but gamers better beware as these adorable creatures hide claws. The thing that makes Battle Pets so distinct, other than their adorable furriness, is the battle mechanics that the game employs. Battle and siege mode involves staking the pets for fruity rewards in the form of FRUIT tokens, the native token of Battle Pets.
The game also allows for the forging of weapons to arm those pets with the biggest and baddest tools. Gamers can keep these weapons for fighting boosts, put them up for sale on the NFT marketplace, or just show them to other gamers as an ice-breaker. The game can also be a social networking experience, with group battles allowing Battle Pets to gang up on each other for the ultimate fur-flying experience. Battle Pets is most definitely the game for anyone who has ever longed to have their very own cute fighting pet.
PancakeSwap is another exchange on BSC which is moving into the NFT sector. In the case of PancakeSwap, rabbits are the main theme of the collectibles. Each bunny has a redeemable value in the form of CAKE, the native token of PancakeSwap. The collectible rabbits on PancakeSwap come in a range of art styles and sizes so there’s plenty of variety for users to choose from, providing of course that users like rabbits.
Faster with BSC
Although much of the early NFT market was focused on the Ethereum chain, BSC is making rapid progress in every area. With marketplaces, games, and more, NFT collectors have an increasingly wide-ranging number of options available to them. Further, because of the inherent advantages of BSC including fast speeds and low fees, buying and selling NFTs using BSC is more affordable. For this and a number of other reasons, the improving NFT landscape on Binance Smart Chain is well worth exploring.
Source : bsc.news
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