Non-fungible tokens (NFT) are growing in popularity and demand and have become a near certainty for most cryptocurrency investors and enthusiasts.
Most of the NFT-related activity initially occurred on the Ethereum network. However, more and more people are moving to other chains, such as Binance Smart Chain, for example, because of the fast transactions and low fees.
Binance has been quite busy competing with other NFT marketplaces and, although it is still difficult to compare it to the success that Ethereum and Solana had, there are some success stories.
Low fees, fast transactions and high liquidity are definitely the main reasons why some investors turned their attention to Binance Smart Chain when it comes to NFT.
In this article, I will explain the best NFT projects on Binance Smart Chain. So, without further ado, let’s get into the details.
TOP 7 NFT PROJECTS ON THE BINANCE SMART CHAIN
After a thorough research of NFT projects on BSC, I came to the conclusion that I would like to mention 7 projects in total. Let’s start.
PancakeSwap is one of the largest NFT marketplaces built on Binance Smart Chain and is certainly the most popular. On PancakeSwap, you can buy and sell NFTs like Liquid Monsters, Wolfies, Lil Bulls, Kittens, Cross Bosses, Saint Monsters, Apes, ShitPunks, BornBadBoys, BornBadGirls, etc.
The platforms produced one of the most anticipated drops with record minting times from users waiting to get their hands on the new NFT exclusives. For example, Pancake Squad #337 was one of the rare balloon NFTs that fetched almost half a million dollars in value at the time. The drop definitely excited most of the BSC community and many thought that this is the beginning of a new era of NFT on binance Smart Chain.
The next platform we will look into is called Cake Monsters. Cake Monsters is a new DeFI protocol project on Binance Smart Chain. It is actually a coin that has utility. The initial supply is 10 billion $monsta. On each transaction, 2.5% of the coin is burned and 2.5% is taxed. So the idea behind the project is simple: when the supply goes down, the price should go up.
The coin uses the tax in two ways: first, it adds liquidity to the liquidity pool, and second, it is used to buy one of the most popular tokens on Binance Smart Chain: the native PancakeSwap $Cake token. All of these tokens are placed in a vault, which should give the DeFi protocol good value.
MetaWars is one of the most popular games operating on Binance Smart Chain. This is a multiplayer strategy/role-playing game that is driven by the digital economy and blockchain technology.
The game itself takes place in an epic space that allows players to explore the universe and find mysteries, surprises and potentially valuable loot waiting to be discovered. It takes place in the 50th century and the game designers really put a lot of effort into showing what space will look like in 3 millennia of progress. MetaWars is considered a play-to-win game in which you can fight, win and trade NFT, mine and develop your terrain, and gamble your assets in the game. The native token of the game is $WARS.
MetaGods is another Metaverse-based game built on Binance Smart Chain. It claims to be the first free-to-play online role-playing game. The purpose of the game is to earn various NFT loot by exploring dungeons and killing mythical monsters. If you bring more friends to the game, you can earn more rewards.
Another NFT-based project built on Binance’s smart chain is called Altura Penguins. The platform claims to be the first set of smart NFTs to traverse the blockchain. The thing to note here is that each Pengiun is located in a different city around the world. The background of each NFT will change to match the time of day in that penguin’s location. At the time of writing (February 2022) there are 20 unique penguins with a supply of 100 each.
According to the Artura Penguins website, “Altura provides the infrastructure for the future of in-game items, digital assets and The Metaverse”. The platform’s native token is $ALU.
TTK is short for The Three Kingdom, one of the most exciting games built on binance Smart Chain. As the name suggests, the game map is divided into three kingdoms in China: the regions of Wei, Shu and Wu. All the land will be divided into squares. The land that is closer to the centre will get more profit.
Players can use these lands to gamble and monetise various events. You can own your own base of operations where you can fight and expand your territory and earn NFT and in-game currency. You should always keep track of world news in the game so that you can act accordingly and make efficient strategic decisions. $TTK is the native token of the platform.
The Binopoly game included NFT in the game world as a collectible asset. Players can collect “house” NFTs to change and display the graphical appearances of their properties in private and public land slots. NFTs act as a virtual home that represents artistic values and unique personality. There are various types of properties, such as thatched huts, log cabins, stone houses, mansions, mansions and even entire skyscrapers.
If you want to create NFTs with a lot of freedom, Binopoly is probably the place for you. The platform will give you the opportunity to express your talents in a particularly limitless setting.
WHY CHOOSE BINANCE SMART CHAIN FOR NFT?
If you are wondering what the main reasons are for choosing Binance Smart Chain for NFT, the answer is quite simple: low fees. In addition to low fees, BSC offers EVM compatibility, which allows the use of ERC standards. These are the areas where Binance Smart Chain has a competitive advantage over Ethereum. It is no surprise to see more and more crypto investors turning to BSC to be as profitable as possible.
With the growing NFT world, Binance Smart Chain had no choice but to join the party. After thoroughly researching all the major NFT platforms built on BSC, I can safely say that I was pleasantly surprised at where NFT development has gone, in general. And this seems to be just a start, all the projects described in this article are just beginning their journey.
If you want to pay lower fees when trading your NFTs, then Binance Smart Chain is probably the blockchain to go to.
Note: Please note that these are just our opinions based on my extensive research of NFTs on Binance Smart Chain. In any case, please do your own research before deciding whether you want to use them or not.
At this point, it is good to note that all opinions and suggestions written in this article are not considered financial advice.
FREQUENTLY ASKED QUESTIONS
Let’s take a look at some frequently asked questions about NFTs on Binance Smart Chain.
Can I store BSC Crypto collectibles in the Trust Wallet application?
Yes, you can. Trust Wallet offers an easy way to store and access all your Ethereum and BSC crypto collectibles with high-level security.
Is Binance good for NFTs?
Based on everything I researched for this article, Binance is decent for NFT and will only get better. Fast transactions, high liquidity and volume, and low fees are the main reasons why some crypto investors are turning to Binance Smart Chain for NFT.
However, the argument for Ethereum will always be that you have more platforms and more chances to profit if you choose that network. Note that over 90% of digital assets are created as ERC-721 tokens on the Ethereum network, including some of the most popular ones like Axie Infinity and CryptoPunks…
Which chain is best for NFT?
This is a great question, let me provide you with the list of chains I think you should consider when choosing which one to use for your NFTs: Ethereum, Solana, Polygon, Cardano, Tezos and Binance Smart Chain.
You can read our reviews of the best NFT marketplaces on Ethereum, as well as Solana, Polygon, Cardano and Tezos.
What can I do with NFTs on Binance?
Well, the Binance Smart Chain NFT marketplace is the crypto world’s largest centralised NFT marketplace where you can buy and sell in-game items, virtual lands, art pieces and more, at a flat trading fee of just 1%.
Can you buy NFTs with cash?
Yes, of course you can. An NFT can be sold for cryptocurrency or cash. All transactions you make for NFTs are recorded on the blockchain to ensure the correct ownership of an NFT. Most of the time, investors want to buy NFTs that they believe will increase in value in the future so they can sell them for cash in an NFT market for a profit.