Decentralized Financial Protocol, or DeFi, claims to be the largest non-financial token trading platform on Binance Smart Chain – users benefit from lower gas taxes than Ethereum.
BakerySwap claims that the high cost of shopping on Ethereum means transaction costs can often outweigh the value of a work of art, preventing young artists from hoping to experiment and build a reputation by sharing their creativity with the world. This platform gives them the opportunity to sell their work for as little as $ 4, which is nearly impossible to do on competing blockchains.
According to the project’s founders, constant updates have helped BakerySwap become a major player in BSC – and the NFT sector is now growing much faster than expected. The market is no longer limited to artwork, which means visitors can purchase symbolic game equipment, digital pets, and more.
The most recent data provided by the project shows that more than 57,000 NFTs were affected by the platform, and more than 184,000 transactions were performed. All this resulted in a good NFT volume of $ 27.2 million resulting in a high level of liquidity.
Collaboration and new features
BakerySwap believes that rapid innovation in presentation is critical to maintaining a dominant market position, leaving competing enterprises only to catch up. Recently, a new NFT audio feature was launched that allows users to support their favorite artwork, and make sure to present famous artwork to the world. A highlight of Valentine’s Day is NFT with Binance CEO Changpeng Zhao.
Other innovations include the creation of 1,000 bakery-themed football that speaks to a concept known as NFT implementation. Each of these exclusive tokens can be exchanged for realistic football, which means proud owners can pick up a valuable souvenir. BakerySwap also explores the relationship between NFT and DeFi, adding that BSC’s smart contract functionality and low cost creates “endless possibilities”.
The collaboration has now started with well-known projects, including the 1-inch Basic Attention Token (BAT), and BakerySwap has partnered with a number of brands to provide cash, cropping, betting, meme competitions and a launch platform to launch DEX to the masses.
And there are other features in development as well. NFT art gallery and virtual reality are currently being developed with plans to engage a wide range of artists and musicians that the community can enjoy. The exclusive 3D event is also expected to bring together top artists from around the world – and the team believes that improving the quality of the bakery exhibit will attract more and more sophisticated collectors to the platform.
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As critics rallied around NFT, the market continued to break records, Unisocks were sold for $ 92,000, Beeples art sold for $ 69.3 million, and Dapper Labs reached $ 2.6 billion after the stars. Study tour with Michael Jordan and Will Smith.
The BakerySwap team explained, “A traditional art collection can be destroyed, stolen, or even tampered with, making it impossible for people to know that what you own is original, and the cost of authenticity is also high.” “NFTs provide an encryption level of protection, and they can even be permanently separated from other copies by signature.”
BakerySwap believes the NFT sector still has many future milestones ahead – and expects Binance Smart Chain to overtake Ethereum when it comes to dominating this vibrant sector. And with this platform, which will offer symbolic music and video alongside artwork, there will be more content for coding enthusiasts to explore in the coming months.