The NFT Marketplace was once dominated by opensea, since then a number of other marketplaces have tired to climb to the top. Just in recent months 2 have raised quicker then others. Looksrare is one that has been making headlines recently but BlocktoBuy has come out of nowhere and is making headway.
BloctoBay overtook native blockchain Flow’s other NFT marketplace NBA Top Short in monthly trade volume
BloctoBay, Flow Blockchain’s new NFT marketplace, launched in October 2021 with a more user-friendly interface and an impressive amount of products. BloctoBay is thus now listed among the top marketplaces because of its popularity.
BlocktoBay continues to experience huge liquidity in highly competitive and saturated NFT space with its launch. It is continuously on its predetermined path and showing outstanding performance in terms of trading volume on the platform. For March, the Flow NFT marketplace has managed to record approximately $41.8 over the past week, between March three and March 10.
Impressed with its performance, BlocktoBay became the third-largest NFT marketplace in terms of volume till this month. More than its weekly performance, its trading volume for the last 30 days is also quite impressive and went up to $176 million from the first week of February till the second week of March.
BlocktoBay has surpassed another NFT marketplace of Flow blockchain by the name NBA Top Shot. Launched in 2020, sales on NBA Top Shot have also shot up in the first quarter of 2021, just like BloctoBay’s in 2022. The performance of NBA Top Shot outpaced the very first marketplace on Flow, CryptoKitties, that was launched in 2017.
Looking at last week’s trade volume of NBA Top Shot, it’s far behind the BlocktoBay’s, which totaled $4.4 million, and for the previous 30 days, it was about $36.9. BlocktoBay is ahead of NBA Top Shot by 89% in the past week’s performance and 79% in the month.
When it comes to the most active ecosystem today for NFT marketplaces, it includes Flow blockchain. The potential reason behind the difference between Nba Top Shot and BlocktoBay’s performances is their utilities. BlockctoBay allows to buy, sell and discover almost all the NFT supported on the Flow network to its users, whereas NFA Top Shot allows its users to buy, sell and collect only the best scoring moments of NBA. It clearly shows the diversity of the BlocktoBay NFT marketplace over NBA Top Shot.
BlocktoBay marketplace supports NFTs like MotoGP Ignition, CNN, DARK COUNTRY, Xtringles, Ben Mauro, Versus, and other nonfungible tokens that have more planned for the future.
However, it’s not new for the NFT marketplace to come along and take the top position instantly. Looking at LooksRare, the same scenarios happened even on a bigger scale. NFT marketplace launched in January and currently sits at the top place in terms of trade volume, even above the first NFT marketplace OpenSea.
The last year 2021, has been a fairly victorious year for cryptocurrencies as the market attained new heights with boosted popularity for cryptos. The risk of missing the opportunity persuaded a broad range of new investors. Although the non-fungible tokens have grown throughout 2021, there are still some limitations in the industry, such as a severe scarcity of competitive marketplaces. There is little interest in people in the marketplace other than OpenSea and KnownOrigin. LooksRare might fill this gap as it is very commercially labeled and contributes to the marketplace with another NFT for users.
LooksRare is a decentralized monetary network that renovates the conventional payment methods on the blockchain while using a cluster of fiat-pegged stablecoins. Its currency reserves LOOKS accesses financial infrastructure advancement, stabilizes and stimulates programmable payments. By the end of 2020, the network had been a source of about $299 billion in transactions. The token is most likely to gain progressive momentum in the future and is building excitement regarding its developing NFT marketplace.
Crypto Academy LooksRare (LOOKS) Price Prediction 2022
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In 2021, OpenSea saw a massive growth in sales volume, and in just the first few days of 2022, the NFT marketplace is on pace to smash its record numbers.
We are only a few days into the new year, and OpenSea is already racing toward new records.
Since the calendar turned, the spike in sales is due, in large part, to heavy activity in a number of popular NFT collections, which is a continuation of a surge that closed out 2021. In the last week, Bored Ape Yacht Club has netted $197.46 million in 3,006 transactions.
While some collections like Mutant Apes, Bored Apes, and CryptoPunks are fetching record-setting prices, the data signals some potentially emergent markets in the form of the Prime Ape Planet PAPs and Bored Ape Kennel Club. Time will tell whether or not they have staying power, but in the meantime, they are helping to fuel a dynamic marketplace and some truly awe-inspiring numbers.