Vesting NFTs Surge on BNB Chain as Token Lockups Become Tradable
Vesting NFTs have surged to the top of CryptoSlam’s daily sales volume rankings on BNB Chain, generating over $12.4 million in sales. This indicates a significant interest among investors in new liquidity solutions for token lockups, surpassing renowned digital art collections like CryptoPunks. This activity propelled BNB Chain to lead daily NFT sales at around $14 million, nearly doubling Ethereum's sales of $7 million. The UNCX Network, a decentralized service provider, is behind the Vesting NFTs, allowing users to wrap vested tokens into tradable NFTs. These NFTs serve as vouchers, enabling holders to retain rights to claim vested tokens while still accessing liquidity without violating original vesting agreements. Although the current volume is in the millions, the potential for vesting NFTs could lead to broader adoption as a billion-dollar use case. In September, the crypto market is set to release around $15 billion in vested tokens, with an additional $10 billion predicted to be unlocked in the coming months. Utility-based NFTs, including those from the real-world asset platform Courtyard and gaming NFT platform DMarket, are also gaining traction in the NFT space.
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