Ebisu’s Bay has become the best decentralized NFT marketplace on CRONOS.
An issue we face in the NFT space is the mystery surrounding centralized marketplaces. Transactions are not really traceable. That results in very few metrics to evaluate collections. If we take a look at the Crypto.com NFT marketplace, those issues become clearer. Try to figure out the floor price and volume over time with leading Crypto.com collections. You probably can’t.
That’s where decentralized marketplaces, in this case Ebisu’s Bay, come in. Over the last 30D, the marketplace has seen 8.88k unique users. These users have traded a cumulative volume of $9.29M according to DappRadar.
Those statistics put the marketplace at 24th over the last 30D, in terms of unique users. To add, Ebisu’s Bay has seen an 88% growth in user count and a 173.15% increase in volume over this time.
The #Cronos NFT market is growing impressively day by day, and @EbisusBay has been contributing significantly to this development 📈
According to @DappRadar, Ebisu's Bay is the #NFT Marketplace that has the best rate in User Growth over the last 24 hours 🎉#CronosNews #crofam pic.twitter.com/uo4h9Y5t1a
— Cronos News 🪐 (@NewsCronos) March 15, 2022
What is Making Ebisu’s Bay so Popular?
Simply put, Ebisu’s Bay has put its community first during this rise to prominence. First, they are trying to create a safe and transparent marketplace. Stolen art is a common issue in the NFT space. Just this week, there was an issue with a collection stealing the art from another, and passing it off as their own.
This is how Ebisu’s Bay dealt with the situation:
1) We were shocked to find out that Slothty stole the art of @BHighnft , art that we loved since the first moment we saw it.@BHighnft will receive the royalties generated from the Gen 1 sales that were done through our platform
— EbisusBay | NFT Marketplace on Cronos (@EbisusBay) March 14, 2022
6) All refunds will be paid from our own funds. We will post a list for verification within 1-3 business days.
— EbisusBay | NFT Marketplace on Cronos (@EbisusBay) March 14, 2022
Instead of ignoring the issue, as many marketplaces would do in a similar situation, they made sure the proper users were refunded and compensated. This is a move that only increases trust in the marketplace.
Additionally, the marketplace has fully embraced community-made tools. The marketplace viewer and volume tracker are community-made and directly linked to at Ebisu’s Bay.
In conclusion, Ebisu’s Bay is doing everything their competitors on $CRO aren’t. Watch for this marketplace to get into the realm of Solanart or Magic Eden this year. That isn’t out of the realm of possibility.
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