IOTA’s NFT Marketplace Goes Strong, Gains a Thousand Users Within A Week

iota nft

The newly launched IOTA-based NFT marketplace is off to quite a remarkable start, after gaining more than a thousand users within a week.

An official statement released via NFT marketplace’s social media platforms revealed that the testnet tokens have been met with quite a positive response.

Tallied statistics from the first week of operation showed that the platform had registered and verified nearly a thousand new accounts. The IOTA team also revealed that 508 non-fungible tokens had been minted within the week and made available for bidding by collectors and digital art enthusiasts on IOTA.

After a week, here are some statistics from our iota-based nft marketplace.” the tweet read.

👨‍💻 Users: 966

🧑‍🎨 Creators: 273

🖼 Created nfts: 508

💵Successful biddings: 3700

We are working hard to improve the marketplace and add new features 🚀 #iota #nft

— iota nft marketplace (@nftiota) july 19, 2021

IOTA’s currency crop of non-fungible tokens have been created and released on the network by 273 digital artists.

In addition, a total of 3700 bids came in for the various tokens on IOTA’s marketplace over the past week , implying that the nascent marketplace receives an average  of 500 bids per day.

Dominik Scheiner, a co-founder of IOTA Foundation, praised the marketplace development team for bringing in a new win for the community, and for performing just as expected, if not better.

Plans for Further NFT Development

The early success of the product, evident in its growing adoption, could be proof enough that NFT is gaining increasing traction and that the marketplace’s development team is meeting its set goals.

Earlier this year the team expressed its intention to provide easy access to cheap, swift crypto services and in the future make IOTA the go-to network for the NFT industry.  With the launch, IOTA has taken what was once accessible to only a smaller niche of savvy people to the wider public, interested in buying NFTs without worrying too much about transaction costs.

At press time, IOTA’s marketplace is only available on testnet. Since the first announcement of its NFT marketplace launch last week, IOTA has staggered about the $0.66 mark, and is yet to react positively in an otherwise sulky market.
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