The Most Valuable Builder II Declares the Top 10 NFT Projects Building On Binance Smart Chain

The Most Valuable Builder (MVB) II program has undergone a two-phased process to whittle down the most exciting projects from 500+ to 10.

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BSCNews
on
July 29, 2021
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BSC News

The Big Bang of NFTs

Binance Smart Chain (BSC) has selected the top 10 winners in their second Most Valuable Builder: The Big Bang of NFTs. 

The winners were announced on July 29th and were detailed in BSC Matthew’s Binance Chain blog post. The competition started in late April and whittled down the Most Valuable Builder’s from over 500 projects.

“The MVBII was subtitled The Big Bang of NFTs to show that we will focus primarily on NFT+DeFi development in the second round,” explained BSC Matthew in the blog.

In the past few weeks here at BSC.News we’ve been lauding the incredible advances made by NFT Gaming projects. Judging by the winners we were right to do so.

(Source)


Strength in Numbers

The projects show no sign of decline, as at the time of writing they currently account for more than half of the entire daily transaction volume. We can put this in context when we understand that the BSC Network currently processes 800% more transactions than Ethereum. Incredible!

It is impossible to overstate the energizing effect of MVB II on the BSC ecosystem. The shortlisted projects achieved a total of more than 500,000 active addresses with $16Bn in transacted volume from May to July 2021, during the competition itself.

So What Do The Winners Actually Get?

Aside from the immediate injection of interest the competition provides, there is a substantial $10,000 grant. An opportunity to strengthen security via Certik through a sponsorship. And arguably the most important, a priceless opportunity for an exclusive incubation workshop with industry experts.

There is also added potential for a direct listing in the Binance Innovation Zone and the incredible investment opportunities that come with that.

How Were Winners Identified?

The Big Bang of NFTs focused primarily on the development of NFT+DeFi. 

The initial phase began on May 1st, and oversaw over 400 applications from all over the world. Each project was given ample attention and put through a scrutinising process that carefully observed performance. A top 20 projects would be identified based on a strict criteria:

Product innovation: What does the project propose that is unique? Is this project competitive, and does it provide new features and products?

Security: Each project must have at least one completed team security certification or audit from independent BSC ecosystem partners.

Community & users: This includes the number of active users in the community, chain address activity, and regular users.

Transaction volume: Here, we looked at the transaction volume over different periods.

(The criteria is taken as specifically defined by the brilliant team at Binance)

The second phase saw the top 20 undergo even more scrutinous standards, as the projects are expected to be the most demanded applications in NFT+DeFi, dApps or Infrastructure in the BSC Ecosystem. Popularity is a must. 

Security is then investigated as despite the huge number of Daily Active Users (DAU, Total Volume Locked (TVL), and Liquidity, projects are expected to hold up in terms of offering protection. 

Finally, communication was understood as a key aspect. It was important to garner community strength via different media channels, including but not limited to Twitter, Telegram, Discord and Medium. Often underplayed, this communicative aspect is what binds these projects together, and the second phase of the competition accounted for that. 

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