First mover advantage for Artfific on Fuse Network
NFT marketplace Artrific is getting traction this week as the number of wallets connected to the platform shot up more than 50%. The platform, which currently supports only FUSE token trading, allows users to import Ethereum based NFTs or mint new ones, with more features coming soon.
Artrific has various digital assets available on its NFT marketplace and users can sign up and browse for free. It also supports creators by offering an easy-to-use NFT minting process at lower costs than on Ethereum digital goods marketplaces.
Artrific gaining ground
Although the number of wallets connecting to the platform is still minuscule when standing side-by-side with more established marketplaces, the performance shows solid growth. It indicates that NFTs on Fuse are starting to catch their community’s attention. Wallets connected to Artrific grew almost 52%, which pushed the number of transactions up over 100% and generated $3,690 in trading volume.
Alongside the multichain NFT marketplace TofuNFT, which operates its services across more than seventeen blockchains, Artrific is the leading native NFT marketplace on Fuse. The platform is set up for expansion, having already categorized the market into art, trading cards, music, sports, and more. Looking at what’s selling, we see popular items priced at around 150 FUSE or $99 at writing.
Looking at the hot collections, it’s interesting that some of them are Fuse originals and appear to be finding some love within the Fuse community. A trend we’ve seen emerging on Tezos and Solana as gas fees continue to peak at around $50 on the Ethereum blockchain and NFT enthusiasts broaden their horizons.
Discover dapps on Fuse Network
DappRadar tracks two NFT marketplaces on Fuse Network, and Artrific is leading the pack. As mentioned, the number of wallets connecting every week is relatively small but still a positive growth signal for the fledgling NFT marketplace. NFTs on networks outside Ethereum are starting to get noticed more as investors look for lower-priced items at the start of their life cycle instead of high-end blue-chip collections like BAYC or CryptoPunks.
Flambu is an interesting project and is not an NFT marketplace, despite listing itself as one on DappRadar. Flambu is a real-world marketplace enabling peer-to-peer rentals of anything, leveraging blockchain technology for decentralized trust and fast, low-cost payments.
Alongside these, dapp projects such as GoodDollar and Voltage stand out on Fuse. Voltage, formally Fuse.fi, offers users similar token swap functionality to dapps like Uniswap. Letting them swap tokens available on the Fuse network. GoodDollar is a digital universal basic income (UBI) project that has consistently featured among the top 10 dapps by the number of daily active users. It leverages DeFi to create a stream of free digital currency that can be claimed by those who need it most.
Voltage is responsible for more than 60% of the total value locked in Fuse, which has grown impressively in 2022—climbing from $4.3 million on 31 December 2021 to $26.1 today. Still, some way to catch competitor chains and get inside the top 50, but Fuse dapps appear to be driving the network in the right direction.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds ETH, BTC, AGIX, HEX, LINK, GRT, CRO, OMI, IMMUTABLE X, GALA, AVASTR, GMEE, CUBE, RADAR, FLOW, FTM, BNB, SPS, WRLD, ATOM, and ADA.
