Flow NFT Marketplace bucks the trend
Amidst a sea of red, NFT Marketplace BloctoBay has doubled its user activity in February compared to January. Digital collectibles admirers can use BloctoBay to purchase NBA Top Shot, Dark Country, MotoGP, and Chainmonster NFTs alongside thousands of others.
The Flow-based NFT marketplace registered a more than 112% increase in traders and a 200% increase in trading volume. Interestingly, the average price of an NFT on BloctoBay has almost halved in the last 30 days. With an average price of around $290 at the time of writing.
While trading volume is still light years away from the two leading Ethereum NFT Marketplaces, OpenSea and LooksRare. The growth, especially in a down market, shows that BloctoBay is on a steady march towards confirming a top-three place over the long term.
Another positive factor affecting the NFT space right now is the increasing presence of NFTs and digital collectibles on blockchains outside of Ethereum. BloctoBay really puts the Flow blockchain on the map, an ecosystem previously solely dominated by NBA Top Shot. There are more blockchains that find success with NFTs. For example, Ronin, is home to the most valuable collection in the entire space, Axie Infinity. This game project became the first collection to surpass $4 billion in all-time sales.
Meanwhile, the NFTs from Crabada, a play-to-earn dapp hosted on Avalanche, has been among the most traded in February. NFT trading volume on Avalanche has grown 25% MoM, and a stunning 1,320% from last year. Furthermore, Ebisu’s Bay, an NFT marketplace on the Cronos blockchain is finding traction as it carries the first-mover advantage on the DeFi heavy network.
Most people probably think of NBA TopShot when they think of NFTs on the Flow blockchain, and while they certainly put Flow on the map back in early 2021 a more developed ecosystem is emerging on Flow. Users of DappRadar can access our industry-leading NFT rankings to find out which collections and blockchains are flourishing and piquing the interest of collectors and admirers on Flow and several other chains including Ethereum and Polygon.
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.