Summary

Today, there is an increasing demand for non-fungible tokens (NFTs) in Binance Smart Chain (BSC). The blockchain operates at high speeds and has low transaction fees, making it extremely attractive to users and developers.

In BSC, Battle Pets, PancakeSwap and BakerySwap expand the functionality of NFT to a whole new scope. Battle Pets and BakerySwap perfectly integrate collectibles with decentralized finance (DeFi) staking, giving tokens dual value. PancakeSwap is also trying to create NFT products that combine collectibility, financial utility and gamification.

We have come a long way since CryptoKitties, and BSC has become a fertile ground for many projects to launch NFT innovations with its advantages of high performance and low fees.

Intro

From the art world of CryptoPunks to collectibles in Axie Infinity, now available to buy and trade The number of NFTs has been overwhelming. To date, most of this activity has taken place in Ethereum. However, Binance Smart Chain’s combination of high performance and low fees is attracting thousands of users and projects to migrate there.

Whether it is NFT trading, gaming or finance, projects in BSC have been breaking new ground in the NFT field. Let’s take a deep dive into the top decentralized applications (DApps) in each field and explore why NFT projects are so successful in BSC.

BakerySwap: NFT collectibles

People can trade digital currency artworks and collectibles through the NFT market platform. After depositing the NFT into a compatible wallet such as Trust Wallet, you only need to set the price and wait for the buyer to inquire.

Most trading platforms are user-friendly, but they do not invest heavily in developing exciting NFT projects. BakerySwap, on the other hand, works slightly differently.

As you might expect, the market for DApps ranges from regular art collectibles to stuffed monsters in the form of digital currencies. The value of these NFTs depends on their collectability and potential utility. The more powerful the monster, the higher the price. Rare and popular art can also fetch higher prices. Here is an example of BakerySwap’s NFT artwork.

If you carefully browse the NFT category in BakerySwap, you will find some interesting NFT products. In addition to representing the copyright of PNG pictures or songs, these tokens also have more added value.

In addition, BakerySwap supports the creation of Bakery NFT combinations. These delicious, snack-based NFTs are not only collectibles, but can also be used as mining tools for the platform’s native token, BAKE. Their pictures are indeed very cute, but the real value comes from the financial gain.

Each NFT combination provides staking rights, and BAKE tokens can be earned through staking. Of course, there is a certain degree of randomness in the pledge rights of each combination. Today, the products of this NFT supermarket are very rich, and paintings only account for a small part of them.

"Battle Pets": Game NFT

The relationship between NFT and games Integration is another classic NFT use case. Gamification has been a winner in NFT applications since the early days of CryptoKitties. Currently, BSC has a large number of furry NFT creatures that are extremely combat-effective. In addition to trading and combat, they can create added value.

"Battle Pets" provides many tradable NFT animals to create a Pokémon-style gaming experience. It’s a tried-and-true design with new financial and gamification elements.

After understanding the combat mechanism of "Battle Pets", we will find what makes it unique.  In tournament and siege modes, players will directly pledge NFT pets for mining and obtain FRUIT (a native digital currency) reward.

You can also gain actual staking rights by forging weapons, which brings you financial benefits instead of just eye-catching game statistics.

You can sell forged weapons and pets on NFT markets such as BakerySwap to increase the diversity of NBT. This operation does not Disaster. NFTs can also be redeemed for a certain number of tokens, but you must destroy the item in the process.

PancakeSwap: Financial NFT

Why is the DeFi platform in Binance Smart Chain successful? Clever NFT implementation is one of the reasons. NFTs with financial overtones rather than purely creative collectibles are driving NFT sales.

PancakeSwap, the most endearing rabbit-themed DeFi project in BSC, has created a series of exclusive NFT characters to attract players to participate in collection activities. Each rabbit can be exchanged for a certain amount of CAKE, the native token of the project. Similar to other tradable assets, collectors speculate on the value of these NFTs based on CAKE’s price fluctuations.

As mentioned above, the collections in the BSC are constantly developing, providing investors with financial benefits in addition to their own artistic value. If you've ever entered a PancakeSwap sweepstakes, your ticket was actually a BEP-721 NFT as well.

Users use CAKE to purchase lottery tickets, and all CAKE spent will be transferred to the prize pool. Each NFT ticket contains four numbers that must match the winning numbers in the correct order. A portion of the prize will be destroyed and the remaining prize will be divided among the winners. This case fully demonstrates that NFT is not just a collectible.

Why choose to launch the NFT project in Binance Smart Chain?

Many projects did not choose Ethereum, but used, created and traded NFT in BSC. The BSC network has strong scalability and low transaction fees. It has gradually become an alternative to other blockchains, attracting users. BSC is compatible with the Ethereum Virtual Machine (EVM), so developers can easily transfer their DApps created in Ethereum to BSC as well.

From a user perspective, using BSC to buy and sell NFT is more economical and affordable. For small investors and collectors, Ethereum transaction fees are expensive and NFT transaction costs are too high.

Summary

Over the past few months, there have been many developments and innovations in the non-fungible token and smart contract space , Binance Smart Chain and Ethereum blockchain performed particularly well. Nowadays, the value of NFT has exceeded digital artwork and proof of ownership, and it has also been widely used in other fields.

Binance Smart Chain continues to win the favor of many projects relying on its speed and price advantages, and its NFT ecosystem is rapidly growing. Whether you want to participate in the new wave of NFT craze or simply trade collectibles, Binance Smart Chain can meet your needs.