The NFT market has emerged as one of the primary drivers for the growth of the blockchain-cryptocurrency sector in 2021. It was indeed a remarkable year with the total NFT trading volume surpassing $23 billion by the end of 2021. To put things in perspective, NFT sales volume in 2020 was just about $340 million. Although this is a remarkable achievement, something is ailing the NFT sector: high transaction fees. Most NFT projects are on the Ethereum blockchain, leading to network congestion and expensive transaction costs.
Transaction fee, also known as gas in the Ethereum ecosystem is the amount a user pays for executing an on-chain transaction. This can entail minting an NFT, trading NFTs on secondary marketplaces, playing NFT games, and other such uses. The gas was hovering somewhere between $60-$250 depending on network stress, with the average cost around $63 in November. Such a high gas makes NFT transactions unsustainable and to an extent impossible as well.
This is why NFT enthusiasts are moving towards blockchains where the transaction fee is much lower. Two such blockchains where NFT developers are shifting their base are Binance Smart Chain (BSC) and VeChain. At the time of writing, BSC has a transaction fee of just $0.48 while VeChain too has a negligible transaction cost.
In this article, we will tell you about some of the most popular NFT projects on BSC and VeChain.
Binance Smart Chain (BSC) NFTs
Following is a list of some of the top BSC NFTs:
1 Bored Ape Binance Club
The Bored Ape Binance Club (BABC) is a collection of 10K algorithmically generated apes with a random combination of 170 unique traits. It also features a special collection of 20 hand-drawn ape characters. The BABC BSC NFTs collection is inspired by the immensely successful Ethereum-based Bored Ape Yacht Club series. Thus, BABC holders get the opportunity to participate in the vibrant Bored Ape community without having to pay exorbitant gas fees. The BSC NFT holders get a percentage of secondary NFT sales as rewards and receive governance tokens through stacking their NFTs.
2 Binance CryptoPunks
In crypto lore, CryptoPunks is considered to inaugurate the NFT craze among cryptocurrency users. But these Punks are now almost inaccessible to an average NFT enthusiast due to their sky-high prices. Thus, the Binance CryptoPunks are a window of opportunity to get involved in the Punk community without spending millions. These BSC NFTs are a set of 10K pixelated characters with unique attributes randomly generated using a computer algorithm. While the general ones represent punk boys and girls, there are rarer characters as well who look like apes, zombies and aliens.
3 Battle Pets
The NFT gaming space has grown exponentially in recent months with the sudden spurt of interest in Play-to-Earn games. One such immensely popular NFT-based game on the Binance Smart Chain is Battle Pets. Each of the Pets is a sweet and adorable BSC NFTs that users can collect, nourish, and breed for fun battles. The BSC NFT holders can arm their Pets and win PET tokens from winning the battles. PET are utility tokens that power the Battle Pets protocol with which users conduct in-platform transactions.
We have listed some of the most popular VeChain NFTs below:
VeThugs are an NFT-based Play-to-Earn game where the VeChain NFTs function as in-game playable characters. It consists of a set of 10K pixelated thugs with 12 unique characteristics randomly generated using Artificial Intelligence software. Apart from the common thugs, users also stand a chance to get their hands on a rare zombie, vampire or demon. These VeChain NFT holders will be able to use their collectibles in the VeThugs game to steal and earn points.
V-Ladies is a collection of 198 unique and eccentric young ladies, with the Italian artist WildMind hand-drawing each character. These collectibles celebrate femininity and the diversity of women across the world. WildMind is one of the pioneers of the ‘Woman in Crypto’ movement and she airdrops her VeChain NFTs in batches of 6. Each of these VeChain NFTs is priced at 3K VET/25K WOV with WildMind selling them on the World of V marketplace every Thursday. They have become so popular that the floor price has now shot up to 1 million VET.
VETPets consist of a set of 250 fully customizable pixelated VeChain NFTs that are available on the World of V marketplace. Each VETPet has a unique quality since the VeChain NFT holders can design them according to their own choice. Thus, unlike most other NFT projects that come with a standard design, VETPets users can infuse their VeChain NFTs with customized traits. Although the First Generation VETPets are sold out, NFT enthusiasts can buy them from the secondary markets. The demand is so high that a Second Generation collection is now in the planning stage.