Over the last few months, NFT sales have been through the roof. According to the nonfungible market, during the first week of August, the total USD value transferred over 7 leading NFT marketplaces has crossed a total of $356 million. It’s evident from the graphs below that the NFT sales skyrocketed in the first week of August and the trend is continued.
No signs of slowing down
According to a 2020 year-end report by the Nonfungible community, the total market capitalization of the NFT sector was close to $210 million in 2019. The report suggested that in 2020, the market cap could touch $315 and by 2021, it could surpass $700 million.
Surprisingly, the NFT market capitalization has superseded the assumptions is currently sitting at over $33 billion according to Coinmaketcap. This clearly indicates that the NFT market is no more a fad as was believed in 2017 and holds the potential to become a trillion-dollar market in the future.
PandaInu Future NFT Marketplace Models
PandaInu NFT marketplaces platforms will create an option platform where one can mint, store, display, and trade NFTs. These have played a pivotal role in the explosive growth of the NFT market cap.
As there are many types of NFT marketplaces, universal or collectible-oriented marketplaces are the most popular ones. That’s because sports and collectible NFTs are the most traded NFTs and contribute to over 60% of the total sales. But PandaInu is collecting all merge all of them at the same platform.
According to the PandaInu Research team, the top trends in the NFT marketplace are?
According to Dap Radar’s recent portfolio tracking tool, 85% of the DeFi users claim they have interacted with NFTs and this is a 10% increase since May 2021. Even the Ethereum blockchain usage clearly indicates that the unique wallets interacting with NFTs have surged by over 202%.
With so much interest exploding in the space, NFT marketplaces are looking at more ways to engage more NFT users. Here is what is trending:
Moving to low gas-fees Layer 2 protocols
PandaInu NFT marketplaces will resolve the Ethereum gas fees issues first. And PandaInu platforms use the efficient Layer-2 solutions like Binance smart chain and Immutable-X. The expect transactions to consume 100 times less energy once Panda team migrate from Ethereum to Binance Layer-2 solutions.
Also, PandaInu team is working to integrate the Binance gasless layer-2 to developed specially to cater to NFT transactions.
As per the current PandaInu development community the potential of NFT trades will limited because of no cross-chain trading between NFT marketplaces. But this is gradually changing once the PandaInu NFT Marketplace will live for worldwide market. Decentralized Exchange’s like EIFI Finance will have announced launching a cross-chain NFT marketplace that will allow users to trade NFTs between Ethereum and Binance blockchain. Breaking these blockchain silos is crucial to unleashing the real potential of NFTs.
PWT Airdrops tokens
Recently, PandaInu airdropped PWT, the platform curation token to the users. Anyone with a PandaInu account received these free tokens. such airdropped have led to a rush of users to the platform that conducted the drop, and it seems to be becoming a new trend in the NFT place.
PandaInu NFT traders will move from universal NFT marketplaces to PandaInu platform in near future and it will be heading towards PandaInu platforms where all the users will get access to curated, high-end NFTs though our platform. To ensure only high-end NFTs are listed on PandaInu marketplaces, our platforms will be incentivizing curators with curation tokens. This means someone with experience in art curation can make an earning by simply curating NFTs on a marketplace.
PandaInu NFT join the yield farming hype
The NFT and DeFi worlds are trying to converge and take advantage of each other. Because of this, the yield farmers are now using PandaInu NFTs will be a new way to leverage digital assets through DeFi protocols. Many upcoming DeFi platforms are introducing innovative liquidity mining models where instead of farming rewards, liquidity providers are incentivized with illiquid NFT tokens. But PandaInu tokens can then be wrapped into NFT collectibles and sold in the marketplaces worldwide. Also, in-game PandaInu NFT trades will rise soon. Because of many popular games introduced an in-game marketplace and these turned out to be successful. And PandaInu will be the next leading NFT marketplace in the world.
Wrapping it up
PandaInu NFT marketplaces will be a very prominent aspect of NFT trading and could play a crucial role in the mass adoption of NFTs in near future. With the PandaInu platforms moving to scalable, cost-effective solutions and with more mainstream players entering the space, it seems we are on the verge of experiencing trading on next-generation NFT marketplaces.
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