The WAX blockchain NFT sales volume have surpassed the sales in Binance Smart Chain once again. In February 2022, Wax NFT sales equated to $23.82 million. With Binance Smart Chain NFTs recording $1.14 million in trading volume. Although Binance’s numbers sound way smaller, they have increased 1,109% in the space of 28 dates, as in January they recorded only $94,325.
About the WAX Blockchain
The WAX blockchain is a carbon-neutral blockchain that runs on a Proof of Stake system. Their major selling point is the eco-friendliness of the blockchain, which contrasts with Ethereum’s heavily criticised environmental damage which they’ve been known to cause. This has resulted in many big names taking to the WAX blockchain to launch their NFTs, like the MLB, AMC Theaters, Funko, Hasbro, Deadmau5, Mattel and more.
About the Binance Smart Chain
Binance Smart Chain is another blockchain using a Proof of Stake system, although a modified version from what WAX and others use. It was launched by Binance in 2019 and its primary focus is to facilitate fast, decentralized trading. The chain, unfortunately, doesn’t have much flexibility as the smart contracts optimized for fast trading could significantly congest the network. Names who have released some forms of NFTs on the chain include Animoca Brands. Although they have a lot fewer big-name backers than WAX, and of course, Ethereum.
The Future of WAX vs Binance
Binance Smart Chain has a long way to go before it can catch up with WAX, or bigger blockchains such as Solana and the premiere blockchain of Ethereum. Nothing is ever predictable in the crypto space. But it’d take a lot of work from the BSC team to reach that stage. In order to get bigger, they’d have to resolve some of the issues which they have previously faced. Such as clogging up the blockchain due to attempting to make high-speed smart contracts.
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The WAX blockchain NFT sales volume have surpassed the sales in Binance Smart Chain once again. In February 2022, Wax NFT sales equated to $23.82 million. With Binance Smart Chain NFTs recording $1.14 million in trading volume. Although Binance’s numbers sound way smaller, they have increased 1,109% in the space of 28 dates, as in January they recorded only $94,325.WAX and Binance are competing blockchains both looking to get ahead.About the WAX BlockchainThe WAX blockchain is a carbon-neutral blockchain that runs on a Proof of Stake system. Their major selling point is the eco-friendliness of the blockchain, which contrasts with Ethereum’s heavily criticised environmental damage which they’ve been known to cause. This has resulted in many big names taking to the WAX blockchain to launch their NFTs, like the MLB, AMC Theaters, Funko, Hasbro, Deadmau5, Mattel and more.About the Binance Smart ChainBinance Smart Chain is another blockchain using a Proof of Stake system, although a modified version from what WAX and others use. It was launched by Binance in 2019 and its primary focus is to facilitate fast, decentralized trading. The chain, unfortunately, doesn’t have much flexibility as the smart contracts optimized for fast trading could significantly congest the network. Names who have released some forms of NFTs on the chain include Animoca Brands. Although they have a lot fewer big-name backers than WAX, and of course, Ethereum.The Future of WAX vs BinanceBinance Smart Chain has a long way to go before it can catch up with WAX, or bigger blockchains such as Solana and the premiere blockchain of Ethereum. Nothing is ever predictable in the crypto space. But it’d take a lot of work from the BSC team to reach that stage. In order to get bigger, they’d have to resolve some of the issues which they have previously faced. Such as clogging up the blockchain due to attempting to make high-speed smart contracts.Are you tired of missing important NFT drops?Just check out our NFT Calendar!Receive the biggest NFT news of the day & recommendations in our Daily newsletter. All of our news is being sent daily on TelegramWe summarize the biggest news daily on Twitter & Instagram Learn with video tutorials and subscribe to our Youtube Channel All investment/financial opinions expressed by NFTevening.com are not recommendations.This article is educational material.As always, make your own research prior to making any kind of investment.