RATE Group | Binance’s Enjin-Based Digital Collectibles Make a Splash on OpenSea
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Binance’s Enjin-Based Digital Collectibles Make a Splash on OpenSea

02 Feb Binance’s Enjin-Based Digital Collectibles Make a Splash on OpenSea

Posted at 04:54h in Cryptocurrency News by

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The largest digital collectibles market on Ethereum, OpenSea, has reported that Binance’s non-fungible tokens made quite the splash, accounting for a significant portion of its January activity.

Last week, OpenSea stated that $34,000 worth of Binance NFTs have been traded so far. Live data indicates that trading volumes have risen to $48,000 (262 ETH) since then.

The news refers to several series of NFT tokens that the exchange minted as holiday promotions since December. Binance created over 34,000 collectible tokens based on Enjin‘s ERC-1155 standard and gave them away to users who participated in the campaign.

Binance NFTs, via OpenSea

Breaking Down the Stats

Binance’s NFT tokens have been in circulation for roughly seven weeks. This means that its tokens experience an average weekly trading volume of 37 ETH ($6,700), which would place the exchange’s NFTs among OpenSea’s top 15 NFTs on a typical week.

This volume is partially driven by high-priced tokens. Two of Binance’s…

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