All chains, all NFTs, one platform
Cross-chain NFT marketplace and yield farming platform NFTrade has had a bumper month amidst continuing hype surrounding digital collectibles. The NFT marketplace aggregator allows anyone to easily create, buy, sell, swap, farm, and leverage NFTs across different blockchains. Helping it to attract 200% more users and almost a quarter of a million dollars to the platform in the last 30 days.
NFTs are now accessible on several platforms, including Ethereum, Binance Smart Chain, Flow, Wax, Polygon, and Tezos. Therefore the ability to access them in one place can arguably bring additional opportunities to the whole NFT industry. That’s where NFTrade comes into play. In the last 30 days, NFTrade has attracted 6,120 unique active wallets that completed almost 57,000 transactions. Generating over $257,000.
What is NFTrade?
NFTrade is founded on two main services. The NFT marketplace allows users to access, trade, and swap NFTs from across Ethereum, BSC, Polygon, and Avalanche. With more chains to be added as they progress. The farming side of the application allows users to stake their idle tokens in order to earn artistic, collectible, and utility-based NFTs. Currently, there are 13 farms available on NFTrade. NFT swaps are a further feature that allows NFT holders to swap their collectibles in a secure, escrow environment.
Future development includes an NFT Launchpad that it is hoped will provide a verified way to introduce new projects. NFTrade wants to be the jumping-off point for the best projects launching in the NFT space, and with a multi-chain and cross-chain creation capabilities and exchange hub, it presents a favorable environment for new projects to introduce themselves to.
As the NFT space has evolved a growing problem of segmentation has arisen, which is arguably discouraging the amount of usage and liquidity that would be within NFT assets if they were able to move freely between networks. Currently, it’s coming down to what incentives platforms can offer creators to maintain a presence, but this does not play out well for users and customers. Customers have to jump from place to place, hoping that they can track down all of the different news and events taking place on each platform. NFTrade wants to change that.
Cross-chain transactions, also known as atomic swaps, allow for the trading of cryptographic assets from two separate blockchains using smart contracts. Basically, the smart contract gives users access to the other’s coin within a specific time frame, completing the transaction and finalizing the swap once both parties meet the conditions stated in the smart contract. For NFTS, it could be something like exchanging an NBA Top Shot card for a CryptoPunk. Something that will become increasingly important as we start to see more dapp games weave in NFT items that players will no doubt want to have full control over, across multiple games or applications.
NFT portfolio management
As discussed, keeping track of all your blockchain assets is becoming more and more tricky. On-chain NFTs mostly sit in a blockchain wallet. But, there’s no intuitive way to view your NFTs in most of them. After all, with NFTs, it’s more about the visual appeal and potentially evolving image than looking for that green line ascending north. The DappRadar Portfolio allows users to do both. Letting you seamlessly value, manage, and view your entire NFT and crypto portfolio in one place.
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 positions in ETH, BTC, ADA, MATIC, SAFEMOON, HEX, LINK, GRT, CRO, OMI, USDT, SOL, SHIBA INU, AVASTR, RAY, BOSON, AND OCEAN