PancakeSwap Officially Launches its NFT Marketplace, Takes on NFT Industry

Fresh from launch, the PancakeSwap NFT marketplace has already taken a place among the top-ranked marketplaces.

By
Ahamdi Abarikwu
on
October 2, 2021
Category:
BSC News

Marketplace is Up and Running

The much anticipated PancakeSwap  Non-fungible Token (NFT)  Marketplace is now live. Initially scheduled for launch on the birthday of PancakeSwap - September 22nd, the marketplace eventually got flagged off eight days later:

PancakeSwap lined up two phases for its marketplace. Phase 1 will feature the sale of the platform's Bunnies and Squad NFT collections; Phase 2 will open up the marketplace for the sale of other collections. 

"Today,” the platform announced in a simple tweet on September 30th.


Source

PancakeSwap kicked off its marketplace with the sale of Pancake Bunnies and has scheduled Squad for a later date:

"Pancake Bunnies #NFT only for now in Phase 1. Pancake Squad Collection Launching October 7th. More Collections Coming Soon", the platform tweeted September 30th.

Early Stats Looking Nice

Barely 24hrs after launch, PancakeSwap's NFT marketplace reached $3.7million in trade volume. That is an impressive statistic, considering that it came from only one NFT collection. 

Source

Already, PancakeSwap's marketplace is positioning itself as a contender for one of the top NFT marketplaces. As of the time of writing, the marketplace occupies 5th place in DappRadar's 24hr-trade-volume ranking of NFT marketplaces.

As more collections go on sale, we might see some more impressive stats for the marketplace. And PancakeSwap, with the advantage of being the top decentralized application on Binance Smart Chain, seems set to compete with other platforms as the leading NFT marketplace. 


About PancakeSwap 

PancakeSwap is a Decentralized Exchange (DEX) built on BSC. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others. 

In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BSC. 

Where to find PancakeSwap:

Website | Twitter | Medium | GitHub

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Ahamdi Abarikwu

Ahamdi Abarikwu is an Electrical Engineer and a lover of anything crypto. He is also an avid writer, proofreader and editor. He loves to play Scrabble in his spare time. He hold bags mostly in BabyDoge, CSM (Crust Storage Network), and JulD.

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