The NFT market has become an integral part of the cryptocurrency market, with a huge number of users enthusiastically collecting digital art and receiving appropriate NFT holder benefits (access to a closed Discord-community, exclusive partnerships with other projects, holders meet-ups events, and more).
The total capitalization of the NFT market as of April 1, 2023 is ~$12 billion, indicating that NFT has become a full and important aspect of every network, Ethereum, Solana, Polygon(Matic), Binance Smart Chain and Bitcoin.
New blockchains are interesting to users because they are new technologies that improve the interaction experience and bring features that users have not seen before, consequently mass audiences who are used to NFT and love this movement are interested in seeing NFT collections and marketplaces, so let's dive into discovering NFT markets in new networks with examples of Aptos and Abitrum.
Aptos has been created using a proof-of-stake (PoS) blockchain model, which is geared towards addressing the challenges of the L1 market. The Aptos blockchain uses the Move language for fast and secure transaction execution, which provides additional safeguards for contract invariants and behaviour. This focus on security allows developers to better protect their software from malicious entities. The Aptos data model enables flexible key management and hybrid custodial options, providing a safer and more trustworthy user experience.
One of the most hotly anticipated uses for this blockchain is the NFT space, because of its ability to easily and swiftly mint NFTs.
According to MoveMarketCap the top NFT marketplaces on Aptos are BlueMove, Souffl3 and Topaz. Let's take a closer look at each marketplace:
1. BlueMove
BlueMove is the community-first NFT marketplace on Aptos and Sui Blockchain that actively rewards traders, collectors and creators for participating. The SUI network will be supported immediately after launch, as it too is built in the Move programming language, which will allow BlueMove to take the lead among NFT marketplaces in two networks at once.
Part of being community-first means that BlueMove rewards, empowers, and gives back to the platform’s users and creators.
BlueMove Advantages:
2. Souffl3
Souffl3 is a NextGen Smart Trading NFT Marketplace where aggregating all the information, providing trading options in 1 place. They are also building a smart trading system that provides users with an in-depth, high speed, and highly competitive NFT analytical toolset.
As a result, users on Souffl3 will be able to discover opportunities faster, buy them sooner and profit more than other platforms.
Souffl3 Advantages:
3. Topaz
Topaz NFT marketplace is a digital platform for buying and selling NFTs.
These platforms allow people to store and display their NFTs plus sell them to others for cryptocurrency or money.
The marketplace doesn't have an open launchpad that would allow every user to launch a collection in a couple of clicks, but it’s possible to apply for a project's launchpad, but your project must have social networks, at least some audience, and a ready concept of your art.
This is one of the first collections launched in the Aptos network, which has received massive support in the community and the project has proven its worth.
Six months after the launch of the network, the project is thriving and the team is working to provide the best experience to its community.
2. Aptomingos
This is a free mint NFT collection that was launched in late November, just after the Aptos Foundation handed out awards to the community.
The small supply, 1212 NFTs allows the project team to work more closely with the community. For example, when Solana NFT-collection DeGods launched the first NFTs in the Bitcoin network - Aptomingos DAO participated and was able to buy 1 of 500 NFTs for 0.33 $BTC, which brought DAO more than 0.6 $BTC profit.
This is an NFT collection from the Pontem Network project, which is developing its own Aptos Wallet and LiquidSwap (DEX). Project team encourages NFT holders in every way, providing exclusive information and updates on their products, holding events and, for example, everyone who zipped this NFT in the beginning of November 2022 got 1 $APT as a reward.
The peak of activity in the NFT sector came at the launch of the main Aptos network, users who received an airdrop actively minted, bought and sold NFT in October 2022. After that, the number of active users only decreased. The total volume of NFT trading in the Aptos network is 2 times less than the daily volume of NFT trading in the Ethereum network, so we can confidently state that no part of the Ethereum NFT market was captured and the activity that is now in the Aptos network is a drop in the ocean compared to what is happening in the Ethereum network right now.
Arbitrum is a technology that helps Ethereum handle more transactions faster and cheaper without sacrificing security. It does this by using something called zk rollups, which bundle many transactions into a single proof that is submitted to the Ethereum network. It's easy for developers to use and works on top of Ethereum, so it still benefits from Ethereum's security and decentralization.
Arbitrum Network solves the main problem of Ethereum network, which discouraged so many users from starting their dive into the world of NFT, because NFT transaction fees were some crazy ones, reaching up to hundreds of dollars. On Arbitrum, NFTs can be created and traded just like on the Ethereum network, but with faster transaction times and lower fees.
Many popular NFT marketplaces, such as OpenSea and Rarible, have already integrated with Arbitrum, allowing users to buy, sell, and trade NFTs on the layer 2 solution. As Ethereum continues to face scalability challenges, solutions like Arbitrum may becomeincreasingly important for the growth of the NFT ecosystem.
1. Open Sea
OpenSea is the largest NFT-marketplace by number of users and currently supports the following networks: Ethereum, Solana, Polygon, Optimism, Avalanche, Arbitrum, Binance Smart Chain, Klaytn.
OpenSea is the most popular NFT marketplace, pioneering the popularization of the NFT movement and becoming home to ordinary users who love it.
2. Trove
By operating on Arbitrum, Trove is able to offer faster and cheaper transactions for NFT minting, buying, and selling, while still benefiting from Ethereum's established ecosystem and infrastructure.
However, the Trove NFT marketplace, which is built on top of the Arbitrum Network and uses the Treasure protocol, supports a wide range of NFTs that can be used in various games and applications.
The Trove marketplace allows creators to mint and sell NFTs, including game assets like skins, items, and collectibles. So, while Treasure DAO itself may not power any games on the Arbitrum Network, the NFTs created using the Treasure protocol on the Trove marketplace can be used in a variety of games and applications, depending on the specific NFTs created by users.
3. tofuNFT
tofuNFT is the premier NFT marketplace on Arbitrum. It offers the widest selection of Arbitrum-native NFTs and digital collectibles. tofuNFT features a simple, user-friendly interface and a robust suite of tools to help buyers find the perfect NFTs for their collection.
tofuNFT is a multichain NFT marketplace that supports almost all existing networks. The sheer number of networks and colleagues allows the project to reach all possible NFT audiences and gather all enthusiasts in one place.
1. Smol Brains
The NFT collection, backed by Treasure, is one of the leading and most valuable NFTs on the market, with dynamic elements that let you "to evolve" your NFT, Smolverse is a fun and playful NFT project and community built on Arbitrum L2, with Smol Brains as the flagship product amassing notable adoption, including holders Gary Vee and Mario Goetze.
Since its inception, the Smol Team has delivered story-based on-chain activities that have contributed to the evolution of Smolverse, launched a fully interactive walkable world, migrated the Smolverse NFTs on-chain, working with Darkbright Studios (Treasure's in-house game studio) to build a AA game and much more. The NFTs in this collection are the most valuable in the network and have the highest trading volume.
GMX Blueberry Club is a collection of 10,000 NFTs (non-fungible tokens) living on Arbitrum that are made up of +130 hand drawn traits. The collection has been created for the community of the decentralized exchange, hence the Blueberry symbol.
The project was released on December 4, 2021. Each member of the GMX community who had Multiplier Points through $GMX token staking was entitled to 1 free GBC.
This snapshot was taken on November 21, 2021. The remaining GBCs were sold in a public sale for 0.03 ETH each.
Government Toucans are an exclusive set of Arbitrum NFTs released by Shell Protocol.
They were available to mint for one day only on April 1 2022. Holding a Toucan grants users access to the #toucan-lounge on the Shell Protocol Discord with other secret benefits to come.
The peak of activity in the NFT sector came at the launch of the Arbitrum Odyssey event in the summer of 2022, when the number of active wallets that interacted with NFT increased to 437,000, but these are wallets of the same people who participated in the event from multiple wallets.Since then, the number of active wallets has only been decreasing, as the event was suspended, and no bright projects have appeared, as NFT-enthusiasts focus on Ethereum and Solana networks. The total trading volume in the Arbitrum network is the two-day trading volume of NFT in the Ethereum network or the monthly trading volume in the Solana network.So it is safe to say that in no way has Arbitrum succeeded in attracting NFT enthusiasts to its ecosystem at the expense of cheaper and faster transactions.
No matter how promising and ambitious the ideas and goals of Aptos & Arbitrum are, we can say for sure that their plans to entice the NFT audience with cheap transactions have failed because transaction fees on the Ethereum network are now more affordable, and the main backbone of the audience hasn't even looked in the direction of other networks.
