Flow Blockchain's Latest NFT Marketplace at Top Three in Overall Space

BloctoBay bypassed native blockchain Flow’s another NFT marketplace NBA Top Short in monthly trade volume

In October 2021, Flow Blockchain launched its all new NFT marketplace, BloctoBay, with a more user friendly interface and a wide variety available. Hence, the popularity can be seen now on the tally of top marketplaces where BloctoBay has placed itself.

BlocktoBay continues to experience huge liquidity in highly competitive and saturated NFT space with its launch. It is continuously on its predetermined path and showing outstanding performance in terms of trading volume on the platform. For March, the Flow NFT marketplace has managed to record approximately $41.8 over the past week, between March three and March 10.

Impressed with its performance, BlocktoBay became the third-largest NFT marketplace in terms of volume till this month. More than its weekly performance, its trading volume for the last 30 days is also quite impressive and went up to $176 million from the first week of February till the second week of March.

BlocktoBay has surpassed another NFT marketplace of Flow blockchain by the name NBA Top Shot. Launched in 2020, sales on NBA Top Shot have also shot up in the first quarter of 2021, just like BloctoBay’s in 2022. The performance of NBA Top Shot outpaced the very first marketplace on Flow, CryptoKitties, that was launched in 2017.

Looking at last week’s trade volume of NBA Top Shot, it’s far behind the BlocktoBay’s, which totaled $4.4 million, and for the previous 30 days, it was about $36.9. BlocktoBay is ahead of NBA Top Shot by 89% in the past week’s performance and 79% in the month.

When it comes to the most active ecosystem today for NFT marketplaces, it includes Flow blockchain. The potential reason behind the difference between Nba Top Shot and BlocktoBay’s performances is their utilities. BlockctoBay allows to buy, sell and discover almost all the NFT supported on the Flow network to its users, whereas NFA Top Shot allows its users to buy, sell and collect only the best scoring moments of NBA. It clearly shows the diversity of the BlocktoBay NFT marketplace over NBA Top Shot.

BlocktoBay marketplace supports NFTs like MotoGP Ignition, CNN, DARK COUNTRY, Xtringles, Ben Mauro, Versus, and other nonfungible tokens that have more planned for the future.

However, it’s not new for the NFT marketplace to come along and take the top position instantly. Looking at LooksRare, the same scenarios happened even on a bigger scale. NFT marketplace launched in January and currently sits at the top place in terms of trade volume, even above the first NFT marketplace OpenSea.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing