NFTonPulse.io Announces NFT Marketplace Launch on PulseChain
NFTs, or non-fungible tokens, are unique digital assets living on the blockchain. They give authenticity and scarcity to an asset and can be created for various purposes. They can display art or be collectibles. They can be your social profile or domain name, or they can be financial assets like HSIs (HEX Stake Instances), ICSAs, or XENFTs. The sky’s the limit when it comes to the utility of these tokens, and the market is predicted to generate a whopping $3.546 billion in 2023. The ERC-721 space is rapidly developing and is not going away.
For a long time, OpenSea was the top NFT marketplace, bearing a quasi-monopoly over the ERC-721. In January 2022, it owned almost 89% of the market share and a trading volume of $5.19 billion, but this started to change when Magic Eden came to the field and changed drastically with the arrival of Blur.
Within a few months, Blur took over 58% of the entire market, throwing OpenSea into second place with 37%. Blur’s volume reached $1.07 billion in February 2023 and is now at $10 million daily volume, and OpenSea’s is $4 million.
Magic Eden was gaining an advantage only for a short period of time. Then, in October 2022, when the FTX collapse happened and the entire market went down, it started declining; however, Magic Eden is now the first NFT marketplace on Solana. Other chains have their own NFT marketplaces, but they’re very small, and only Solana can somehow compete with Ethereum, although the divide is huge. Now that PulseChain has launched, things may change.
NFTonPulse is the only marketplace on PulseChain featuring all kinds of NFTs. It’s in the latest stages of testing now, with the Certik audit coming and the sacrifice phase ongoing. This marketplace will be the biggest space to trade all your NFTs, but it’s also a place where you can find all your ERC-721 tokens copied over from Ethereum. Every token from Ethereum will be in your wallet after you connect it and will be ready for sale. It’s yet to be seen on which chain the value of your assets will be higher. Cheaper gas fees on PulseChain by a magnitude of 327x on the transfer of PRC-20 tokens with respect to Ethereum are the major selling point of the network launched by Richard Heart.
Pulse is barely one month old, and it’s already among the top 10 chains when it comes to daily volume and TVL. Thanks to its large community, the pre-existence of contracts due to the copy of the full Ethereum state, and a fast developing landscape of new dapps, PulseChain is one of the protagonists in the blockchain space.
The existence of NFT copies on Pulse is not to be underestimated. Ethereum gas fees have often been very high, and they were also a major deterrent to many NFT sales. It often happened that people had to pay a $1,200 NFT transfer fee in a bull run and a high gas fee environment. The fee often exceeds the value of the token itself, making it unprofitable to buy them. When Yuga Labs launched their Otherside collection, the fees reached 8.5k gwei. Many participants lost thousands of dollars trying to participate in the sale.
Mint’s price is also expensive and constitutes a barrier to entry high enough to make people use other chains like Solana, BSC, or Polygon.
As we can see from the stats, these chains didn’t gain much traction, or at least not enough to pose any threat to Ethereum’s primate. Being Ethereum’s fork with everything copied over constitutes a major advantage for PulseChain.
While other blockchains launched empty, Pulse is already in its full state and is already being used by the large community of Pulsicans, which was built by Richard Heart during the past 13 years or so. The only thing that is missing is the marketplace for NFTs to start playing with them, and this is what NFTonPulse is for.
The platform has everything an NFT marketplace needs. You can log in with your wallet, create a collection, buy and sell NFTs, put them up for auction, and have fun flipping tokens. The assets will be traded in PLS and WPLS, and you’ll be able to stake HTP to earn the 2% marketplace fees.
What is HTP
The sacrifice phase
You can also become a sposor with “dollars you sacrifice” to generate support for your favourite PulseChain project. This is possible when you purchase ads on our platform. See how it works: https://sac.howtopulse.com/leaderboard.