The NFT marketplace and minting platform, Byzantion, has expanded its tooling on two networks for more cross-chain compatibility.
On July 11, the Byzantion team announced that they had expanded tools on the Stacks and NEAR blockchains. So, let’s discover why this NFT marketplace decided to do this.
Byzantion Wants to Expand Its Adoption
Byzantion is a Stacks-based NFT marketplace with over 600,000 NFTs for sale on the STX network. And nowadays, each network in Byzantion has unique properties for NFT transactions, collectibles, art, and production.
As a result, the team is impressed with the growth and adoption of Stacks and NEAR. It’s important to say that the NEAR protocol is a sharded proof-of-stake blockchain for smart contract development.
To do this, Byzantion wants to add trading analytics, collector tools, and leverage support for artists and builders.
We’re excited to announce that Byzantion is now serving collectors, artists, and builders on both #STX and #NEAR protocols! 🥳
We'd like to share a bit about our vision and why we've decided to go cross-chain. (1/4)🧵👇 pic.twitter.com/X35caBFW33
— Byzantion (@byzantion_xyz) July 11, 2022
Moreover, Byzantion is developing tools artists and collectors need to discover trade and research NFTs on Stacks. Stacks is a layer-1 blockchain linked to the Bitcoin network. Additionally, it uses a consensus mechanism that spans the two chains, called Proof of Transfer. It allows building on top of the Bitcoin network providing additional functionality such as smart contracts.
More Tools For NFT Collectors
On July 11, Byzantion announced one of these new tools. It now offers free community bots. This enables collectors to keep track of sales, listings, and bids on their favorite collections all in the same place.
Additionally, Byzantion provides a notifications option, accessible in the settings to enable users to check on bids. A NFT launchpad section allows artists to launch a collection without going through the Byzantion team.
Every degen has that one project they keep tabs on… Okay, maybe a few projects. Now, with our free community bots, collectors can keep track of sales/listings/bids on their favorite collections all in the same place! https://t.co/EfFu5oo0yV pic.twitter.com/Ikr1ODN2bJ
— Byzantion (@byzantion_xyz) July 11, 2022
NFT Market Outlook
Non-fungible tokens have not escaped the crypto bear market. As a result, daily volume has tanked from over $200 million in early May to less than $30 million as of July 11. Additionally, market tracker Nonfungible also reports that the number of NFT sales has fallen from more than 60,000 on July 4 to 31,492 on July 11.
The top collection over the past seven days according to Cryptslam has been CryptoPunks with $16.4 million in sales.
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