Making NFTs on Wax easier
NeftyBlocks, a relatively new NFT marketplace on the Wax blockchain has had an impressive month after launching in early May. Amidst rising interest in digital collectibles, NeftyBlocks has seen more than a 2100% surge in its unique active users in the last 30 days. Generating over $88,000 from almost 240,000 transactions. Small numbers when compared to other NFT marketplaces such as Opensea on Ethereum, but very fitting given NeftyBlocks high volume, low-cost approach to digital collectibles.
The surge in users has pushed the NFT marketplace to 2nd position overall in the marketplace rankings according to DappRadar data. Conversely, if ranked by volume the order will change significantly as compared to other NFT marketplaces NeftyBlocks is way behind having generated just over $88,000. Compared to Openseas $53 million and Raribles $10.9 million.
What’s causing surges?
Looking more deeply at specific activity spikes throughout the last 30 days can give more insight into what is driving this activity. The surge seen on the 27th of May was seemingly caused by an influx of users after an NFT drop sold out in just 2 seconds. Furthermore, the introduction of its own NFT drops platform was well-received as an alternative to Atomic Hub. Other surges appear organic in nature and stimulated simply by good old-fashioned promotion and video interviews.
Wax NFTs getting recognition
As mentioned, Wax has carved a tight niche in the NFT sector. One focussed on brand affiliated, high volume, relatively low-value collectibles. Brands such as Street Fighter, Topps MLB, and Kogs have helped the blockchain achieve record user activity numbers throughout May and continuing into June. The Wax blockchain generated more than 370,000 unique active wallets in May. The biggest drivers were the gamified NFT mining game Alien Worlds (230,000), R-Planet (57,000) AtomicAssets (40,000), and AtomicMarket (31,000).
What is NeftyBlocks?
NeftyBlocks is a marketplace to buy, distribute and manage NFT collections running on the Wax blockchain. It claims its user-friendly UX allows users to create and sell digital collectibles using the platform’s own collection, distribution, and branding tools.
The team behind NeftyBlocks says it realized that even if WAX was a great blockchain for NFTs, the tools available through the Atomic Assets for collection owners were still limited. Especially for those without a technical background. Having to interact directly with smart contracts, adding JSON, and converting dates to epochs… is not for everyone. To make things easier for themselves, the team started developing a set of tools to help with the distribution of NFTs on Wax. Initially, those were command-line tools. Which, for techies were fine but not for those less experienced. That is how NeftyBlocks was born. Through building a graphical interface to make drop creation easier for everyone.
Early indicators signal the marketplace will continue to gather pace as they attempt to add a user-friendly layer into the growing NFT Wax ecosystem.