Solana NFT Ecosystem Soars, Competing with Rivals, Mushe and Ethereum

NBA Teams Up With Sorare To Bring The First-Ever NFT Fantasy Basketball Game

While the NFT space was once thought of as only successful on Ethereum, with other blockchains struggling to attract NFT enthusiasts, this has steadily changed in recent years. But as of October 3rd, 2022, Solana’s share of total NFT trading volume had risen from 7% to 24% in the preceding six weeks, and NFT sales had nearly doubled in the previous month. 

Going back 30 days from September 29th, 2022, Solana had 2,220,000 transactions compared to Ethereum’s 900,000. However, Ethereum’s all-time total NFT sales volume stood at $30 billion on September 29th, while Solana’s was slightly over $2.5 billion. And in that same 30-day period leading up to September 29th, Ethereum’s total NFT volume was $375 million, while Solana’s was $88 million.

With platforms like Mushe World on the cusp of releasing their first NFT collection on Ethereum via OpenSea, it’s important to understand why Ethereum and Mushe may still be more admired:

Support System

Mushe, just like Ethereum, is determined to build a diverse ecosystem with wallet functionality, DeFi services, Metaverse play-to-earn games, a social networking platform, a token exchange, and more. So how exactly do these elements make a project like Mushe’s upcoming Halloween NFT collection more lucrative? 

Firstly, a decentralized social network can go a long way in generating an organic buzz. Many people will be sharing messages about different projects and trying to exhibit their knowledge and success in the NFT space. This helps create awareness for one-of-a-kind NFT projects before they launch while circulating ample information on how to participate. 

Secondly, a DeFi platform can provide much-needed liquidity as people can easily borrow funds and invest in NFT collections. And as DeFi protocols advance, these NFTs could also be used in liquidity provision, which makes them even more profitable. Remember that all this would be happening without a user having to leave the Mushe ecosystem. 

Thirdly, the presence of metaverse play-to-earn games can help encourage the velocity of NFTs, with more value generated via transaction fees whenever NFTs change hands. This also discourages senseless hoarding and ensures a constant demand for new NFTs and a decent markup on selling older ones if more participants keep coming in. 

And as always, having a wallet designed with these tokens in mind is excellent, so you don’t have to worry about technical details like chain IDs and other aspects of switching wallets to different networks. It also means you can easily keep a portion of your digital assets within the Mushe ecosystem and stay ready to make a move when need be. 

Interoperability

With Mushe eyeing a move to the Stellar blockchain, users on this chain will eventually be able to access Mushe NFTs while enjoying an environment with lower transaction fees and greater throughput. You can say bye to the days of initiating a transaction and watching it drag to the point where prices change significantly. 

Interoperability can also help attract developer talent to create solutions that promote seamless communication between various apps in the Mushe ecosystem. All-in-all, Mushe’s foray into NFTs starting October 31st could change how we think about what makes NFTs valuable. 

How To Purchase Mushe (XMU)

For newcomers looking to get involved and buy Mushe token, you will need a compatible ERC20 wallet such as Metamask or Trust Wallet, which will need to be connected to UniSwap or you can use the MusheSwap website: https://swap.mushe.world/

Once the wallet is connected to UniSwap, you will need to press the swap button and specify Mushe (XMU) contract address: 0x56123908ACA89bf60cE9659aE9F4589E46c8D2cF or you can click the link here: https://app.uniswap.org/#/swap?chain=mainnet&outputCurrency=0x56123908ACA89bf60cE9659aE9F4589E46c8D2cF.

After this, all that is left to do will be to confirm the amount of XMU tokens you would like to buy and the crypto you would like to exchange for it and complete the swap.

How To Purchase Mushe (XMU)

Official Website: https://www.mushe.world/

Community Links: https://linktr.ee/musheworld

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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