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SKALE Sees Transaction Surge As NFT Adoption Rises

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10,000,000 SKL Grant launched to make NFT collections come to life in the SKALEverse

SKALE has witnessed significant all-around growth in the last few months. 20 interoperable SKALE chains have contributed over 11 million transactions to the entire SKALE ecosystem. In addition, with the announcement of the NFT Visionary Grant Program, SKALE will give 10,000,000 SKL to help creators and developers realize their work on the EVM-compatible blockchain network. 

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A year ago when hearing the term NFT, most people probably first associated it with digital items, such as avatars, digital art, collectibles, and in-game props. But today, this blockchain technology has been applied in many diverse and innovative ways.

In August, NFT trading registered 7.24 million sold NFTs from over 1 million unique wallets. These were responsible for a total of more than $800 million in trading volume.

NFTs can also be attached to tangible assets such as physical artwork or serve as a vehicle for membership systems. One of the best examples is PUMA launching its own Metaverse space dubbed Black Station. It comes with an exclusive NFT collection that allows holders to redeem physical products and unlocks a customized experience.

Adoption of NFTs is on the Rise

NFTs are rising in adoption. As supported by the data in DappRadar’s Q3 NFT report, the number of unique traders has increased by 36% compared to Q3 2021. 

Apart from the adoption increase, a trend toward network diversification in the NFT landscape is becoming more prominent. Looking at the broader Ethereum ecosystem, including the myriad of EVM-compatible networks, we notice that SKALE’s growth has exploded upwards over the last few months. 

More importantly, SKALE’s recently launched NFT Grant will bolster such growth further.

SKALE is Gaining Momentum

SKALE is not a single blockchain but a network of many EVM-compatible blockchains boasting scalability and interoperability. Features such as gasless transactions, zero-cost minting, on-chain file storage, high throughput, and instant finality can ensure an immersive, responsive, and seamless user experience on SKALE. 

Many developers who want to leverage decentralized networks to serve their users have made SKALE their preferred choice. As a result, games, exchanges, and a wide variety of NFT-powered projects, among others, continue to flock to the SKALE ecosystem.

Let’s look at SKALE’s metrics to get a better sense of its rapid growth. 

At the time of writing, SKALE has saved developers up to $62,027,741 (39,202 ETH) in gas fees. Over 4.5 million transactions have been processed on the blockchain network in the last 30 days.

Shortly after the halfway point of October, SKALE has already caught up with last month’s user base, seeing 32,500 users interact with SKALE Dapps between October 1st and 19th. 

Follow this link to see the full data achievement of the SKALE network.

Source: SKALE

Prominent NFT-powered Projects in the SKALE Ecosystem

As mentioned previously, a growing number of NFT projects have been leveraging SKALE‘s zero-gas, eco-friendly and versatile infrastructure. Let’s get a glimpse of a few examples that stand out on SKALE.

Projects that enrich NFT use cases

SKALE has entered into an exclusive partnership with participatory entertainment platform Fireside to launch a $100 million Creatives Unleashed grant program. The Mark Cuban backed venture aims to empower creators who desire to venture into Web3. 

Participants can utilize the FiresideWeb3 Content Studio and leverage the SKALE network to build NFT-backed projects. Creators will now be able to engage with their fans in fun and innovative ways never before thought possible. The partnership between Fireside and SKALE allows creators to introduce Web3 to their community while unlocking new business models. 

Renfter is a trustless NFT renting protocol. It allows NFT projects to create an uncollateralized NFT renting protocol within the product itself to fulfill specific needs. Renfter has a crucial role to play in further promoting the adoption of NFTs. With Renfter, projects such as games can let anyone participate in their ecosystem with the user now only needing to borrow NFTs via the Renfter protocol. With NFT lending, Renfter is lowering one of the main barriers to entry into the NFT space. 

Gaming

Tank Wars Zone is an NFT-based, tank-themed battle game that offers users opportunities to monetize their time and game passion. The Dapp provides various exciting gameplay options for users to play and earn, such as PvE, PvP, Battle Royale, and more.

The top game in the Fantom ecosphere, Tank Wars Zone is looking to increase their growth and user base by launching in the SKALEverse.

CryptoBlades is a multi-chain NFT RPG game available on BNB Chain, Avalanche, and SKALE. The game lets users take their characters and weapon NFTs into combat to win SKILL, its in-game token.

It is also worth noting that if users connect to the game via SKALE, they can enjoy a 100% gas-free gaming experience. CryptoBlades users are processing over one million transactions a week on their SKALE chain, collectively saving the community thousands of ETH and millions of dollars in gas fees.  

Exchange

NFTs are not exclusive to gaming projects. Ruby Exchange is an NFT-powered exchange in the SKALE ecosystem. By integrating NFTs into the user experience across the platform, Ruby enables a gamified rewards system that, in turn, increases engagement and loyalty. Ruby Exchange currently serves as the main liquidity hub for the SKALE ecosystem. 

Metaverse

Metaverse Invaders is a space-themed virtual world where users can explore, manage lands and resources, socialize, and more. In Metaverse Invaders, there is an interdimensional army made of 1,000 soldiers. If used strategically together with other in-game NFTs, these characters can help you build a powerful empire that rules the universe.

Metaverse Invaders is one of the first P2E games that is fully integrated as a mobile app and can be downloaded from the App Store.

Join SKALE‘s NFT Visionaries Grant Program

The much-anticipated Ethereum Merge has been completed, marking the blockchain’s official shift to a PoS consensus mechanism. However, Ethereum has not fully accomplished scaling the network or resolving the expensive gas. Instead, the blockchain still has to face a series of future upgrades. 

Therefore, SKALE is as essential as ever for scaling Ethereum. Artists, projects, and creators looking to adopt NFTs immediately can join SKALE’s NFT Visionaries Grants. 

The program allocates 10,000,000 SKL from its previously announced $100 million Ecosystem Incentive Program. So whether you hope to create NFT artwork, enhance community engagement, or build NFT-based games, the program can accelerate the process and escort your project into a smooth launch. 

Selected applicants will not only receive a grant in SKL tokens but will also have ongoing educational, networking, and marketing support. Additionally, creators will get a boost from SKALE’s increased presence, access to partners, and inclusion in SKALE promotional and marketing campaigns. 

If you’re already working on an excellent idea for NFTs, don’t miss the opportunity to get your project off the ground quickly!

We’ve covered SKALE on various occasions. Read SKALE’s Hybrid Modular Layer-1 Network  and SKALE’s Vibrant Gaming Ecosystem to gain a deeper understanding of SKALE. 

Find more about SKALE and NFT Visionaries Grant Program through the official social media platforms:

SKALE Website

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