From DEX to BSC's largest NFT trading platform, Bakeryswap's ecological expansion path

2021-03-11 20:15

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Bakeryswap's Ecological Expansion from DEX to BSC's Largest NFT Trading Platform

Original source: BSC enthusiast

While people are still debating whether NFT art collections are fake demand, NFT sales hit a new record in February. When NBA Top Shot sales topped $230 million and Beeple's Crossroad artwork was acquired for $6.6 million, the market could not be convinced but was convinced.

A traditional art collection can be damaged, stolen, copied or forged, making it impossible for people to know that what you have is the real thing. Identifying it is also expensive. For the NFT, it offers a cryptographic level of security, and can even be permanently distinguished from other copies by the author's signature. Art collections are usually small, displayed in museums, living rooms or even private safes, and only a limited number of people can really appreciate them every day. However, NFT works can be displayed online to the world, and I own it. At the same time, the transaction cost of NFT is much lower than that of traditional art, and works can be transferred from players in the Eastern Hemisphere to players in the Western Hemisphere with the click of a mouse for a miner's fee. Increasingly, people are discovering that these demands are not illusory, and that NFT has even more imaginative scope than the traditional art collecting market.

The bottleneck is near, but there is a turning point

In the seemingly booming NFT market, one problem always remains in the front, that is the contradiction between the rising fees of Ethereum, the largest public chain at the moment, and the increasing investment and offering demand of NFT market. During periods of network congestion, miner fees can reach hundreds of dollars, which is even more than the original value of some of the works. Van Gogh and Picasso are not the only great artists in the art world, and people can ignore the high transaction costs while buying their works. There are more obscure but innovative art lovers who want their works to be appreciated by the world. They may sell their works for only a few dollars at the beginning, but the NFT market in Ethereum seems to be closed to them forever.

An artist-friendly NFT market is the one with the most potential. An artist's core need, lower creation and transaction costs, can at least be easily covered by income from the work. In addition, higher liquidity brings liquidity premium to works, which leads to faster and faster transactions and higher income.

For now, the rise of BSC is expected to relay Ethereum's burgeoning NFT market, just as it did with Defi. BSC boasts lower transaction costs, faster confirmation rates, and, as of this past February, BSC had more than 108,000 unique active wallets, officially surpassing Ethereum's 67,000. This means more active users, which will help the BSC officially activate the NFT market and achieve corner overtaking.

In the process, Bakeryswap took the lead and became the largest NFT trading market on the BSC chain through continuous application upgrades and product accumulation.

Bakery has become a pioneer in the NFT market.

As early as September 2020, the first month of BSC's birth, Bakeryswap launched the exploration of the NFT market by making various types of dish Combo through BAKE, each Combo corresponding to one NFT Token, and containing unique coefficients for Staking Power determination. That's right, as well as releasing NFT Combo, Bakeryswap also launched Gamification, called NFTFI at the time, which was a place to pledge NFT tokens for Bake money, and also to sell synthetic Combo on the NFT Market, which is now the BSC's largest NFT trading market.

With steady accumulation, NFT ecology is flourishing day by day

The growth of the market is faster than we expected. In just a few months, with the outbreak of the bull market in digital currency, BakeySwap became the largest NFT trading market on the BSC. Till now, Bakeryswap's NFT market has expanded from the original Combo to more than a dozen sectors including art, game props and pets, among which BSC Art and Musk & AMP; Dogecoin board is deeply loved by users. Artists can sell their creations in 4Bake (worth around $6) or less for a fraction of their profits, something that's almost impossible with the current Ethereum network.

In addition to providing trading places for NFT, Bakeryswap is also exploring in the direction of NFT-Defi, NFT-Game and so on. On the basis of the original composite dish Combo's NFT pledge to get Bake, Bakeryswap provides more NFT pledge DeFi places, such as the partnership with blockchain nurturement game Battle Pets, through pledge Pets to get tokens. For NFT enthusiasts, we offer a way to Pledge Tokens to get NFT, Pledge Bakes to get limited Christmas Pets for Battle Pets, Pledge PCWs to get Christmas cards, and more.

We've just launched NFT Vote, a feature that allows users to Vote on their favorite NFT artwork. Through voting for the works they like, the works with the highest number of votes will be ranked higher. This will select the best works of art for users to exhibit through the market, and artists will get extra income from viewers in addition to selling their works more easily.

To date, more than 35,669 NFT tokens have been made on Bakeryswap, and more than 120,000 trades have been made. More than 25 million Bake tokens have been made on Bakeryswap, and more than 13 million Bake tokens have been made through NFT. The popularity of the NFT market has accelerated Bake's turnover and lockdown, and the team's ability to BAKE doesn't stop there.

Enable Bake, an all-around expansion from AMM Exchange to NFT

Started on an exchange but not just an exchange. In just over half a year since its inception, Bakeryswap has launched a number of features to enable BAKE ecology. In addition to the basic trading functionality, Bakeryswap also has a number of pools for pledging equity, liquid mining, and pools for pledging BAKE to obtain other tokens. Binance has teamed up with the Eth2.0 Zone to get extra Bake Ecology perks while earning 2.0 benefits. In the NFT market, Bake is used as base currency to buy various art skins and props. In addition, a Launchpad hatchery is provided for new projects to help them secure financing.

Bake play has grown hundreds of times from its lows with so many apps, and according to the latest AMA, Bakeryswap will be working on margin trading and exploring more possibilities in the NFT/DEFI integration. It is fair to say that building a comprehensive app moat will take Bakeryswap further and further towards becoming a one-stop investment app platform for a decentralized world. The unlimited possibilities provided by smart contracts and the low cost advantage of BSC will also lead to more unpredictable innovations within this team.