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How Can Hedera Empower Projects with Its Vibrant NFT Ecosystem


Zuse Market and Hash Axis are among the fastest-growing NFT communities on Hedera.

Hedera endeavors to provide a vibrant public network for NFT collectors, projects, and application developers to thrive. It is worth noting that the Hedera NFT ecosystem has been ushering in an array of high-quality projects, including NFT-supported wallets, marketplaces, NFT collections, and so many more.

Summary:

  • Hedera has become one of the most favored NFT ecosystems.
  • Compared with Solana, Avalanche, and Ethereum, Hedera provides the most competitive cost for minting NFTs.
  • Zuse Market and Hash Axis, the most popular NFT marketplaces on Hedera, have registered impressive trader growth over the last 30 days, with Hash Axis increasing by 40% and Zuse Market by 16%.
  • The HBAR Foundation launched a $250 million Metaverse Fund to fuel the expansion of Hedera’s ecosystem. 

NFT Sector 2022 Q2 performance overview

As an emerging technology, the adoption of NFTs by businesses and individuals is rising. According to the DappRadar Q2 Industry Report, the overall NFT trading volume increased by 1999% compared to last year, as the volume of Ethereum-based collectibles increased by 2093%, while Polygon grew by 456%.

Metaverse-focused NFTs performed well in the second quarter of 2022. Trading volumes of such collectibles on Ethereum increased 101% and 96% across the sector. Another significant phenomenon in the NFT space is noteworthy. More and more projects are moving to more energy-efficient blockchains. 

As a result, blockchains such as Solana and Avalanche performed well in the second quarter in serving NFTs, with volumes increasing by 21% and 15%, respectively.

In addition, a vibrant community of NFT collectors, creators, and ecosystem developers is taking shape on Hedera. So let’s take a closer look at the recent milestones of the Hedera NFT ecosystem.

Hedera’s NFT ecosystem evolves rapidly.

Thanks to Hedera’s unique consensus model and initiative to purchase quarterly carbon offset credits, it has become an outstanding practitioner in achieving carbon neutrality while providing decentralized technology. Additionally, the fees for minting NFTs on Hedera are so competitive that it adds to its popularity.

The Hedera ecosystem has grown to be an all-encompassing one. The powerful Hashpack wallet and various marketplaces make it easy for users to collect, create and trade NFTs in its ecosystem. 

NFT Marketplaces on Hedera see trader growth

Zuse Market and Hash Axis are leading NFT marketplaces on Hedera. According to DappRadar Hedera NFT tracking, both dapps have registered impressive trader growth over the last 30 days, with Hash Axis increasing by 40% and Zuse Market by 16%.

Let’s zoom in on the NFT collections. Hbar Punks on Hash Axis and Baby Barbarians on Zuse Market are leading the ranking in all metrics. Specifically, Hbar Punks saw a 290% increase in trading volume, a 64.29% increase in users, and a 266.67% increase in sales. Similarly, Baby Barbarians experienced growth in data, with volume increasing by 388%, users by 450%, and sales by 400%.

HBAR Foundation fuels ecosystem expansion.

The HBAR Foundation strives to fuel the development of the Hedera ecosystem by providing grants and other resources to incubate promising dapps in DeFi, NFTs, gaming, and other sectors.

In addition to providing capital resources through a streamlined grant process, the HBAR Foundation provides various expert supports across technical, marketing, business development, and other operational functions necessary to scale dapps.

HBAR launched a $250 million Metaverse Fund to accelerate the expansion of Hedera’s ecosystem and support developers’ brilliant ideas to become a reality. HBAR has successfully incubated projects in various sectors, including ecosystem wallet HashPack, NFT marketplace Zuse Market, NFT rating system NFT Grade and more in the pipeline. 

Currently, the Metaverse Fund has allocated $317,074,641 to 127 projects, and Hedera is looking forward to more high-quality projects benefiting from this grant. Ambitious teams can follow this link to apply for grants.

Find more about Hedera:

Website

NFT Ecosystem

Twitter

Discord

Grant program 

Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.



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