PolyChain Monsters IDO Causes 500%+ Active User Surge

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PolyChain Monsters, a collection of animated digital NFT monsters is seeing renewed interest amidst a surge in the popularity of NFT-meets-DeFi projects. The dapp, which operates on both Binance Smart Chain (BSC) and Ethereum is seeing a surge in unique active wallets and volume on its BSC iteration. Presumably, users favor BSC as they look to circumnavigate gas fees involved with minting and buying on the Ethereum network.

At the time of writing PolyChain Monsters has seen a surge of over 670% in the number of transactions, now up to over 82,000. These transactions were driven by a 563% increase in unique active wallets interacting with the dapp which in turn generated just over $1 million in volume. 

Booster Incubations 

In late July, Polychain Monsters introduced Booster Incubations. A marketing program designed to promote high-quality projects prior to their token-generating event. Through Booster Incubations, the platform gives the community a chance to win new and potentially life-changing Polymon. These Polymon NFTs act as a ticket for the partnering project’s Initial DEX offering (IDO).

On August 11th, the platform finally announced its first IDO partner would be Moonie NFT.  MoonieNFT is a play-to-earn platform where every NFT is usable in a gamified DeFi ecosystem. With Moonies, holders can enter price races, earn yield in the research lab, and play games while competing with other Moonies to get on the top 100 leaderboards. 

In order to participate in this play-to-earn Moonieverse, users first needed to obtain a Moonie NFT from the Moonchests. These Moonchests could only be opened with MNY, the platform’s native ERC-20 token. Each Moonchest contains one of four different base types: Doggie, Ettie, Bitty, or Normie. These types come with varying visual properties, making your personal Moonies 100% unique. New Moonies will be added to Moonchests, making the genesis Moonies (Doggie, Ettie, and Bitty) even rarer due to the increased variety of Moonies available. Moreover, the appeal lies in the fact that right now, the chance of unboxing one of these rare genesis Moonies will never be as high again.

The platform also hosted an NFT creation contest on Twitter. For a chance to be among the 5 winners of the special-edition Moonie Polymon, participants needed to design art related to Moonie and mint it as an NFT on a secondary marketplace of their choice. Importantly, the competition closed on the 16th of August. 

Additionally, to celebrate the partnership with MoonieNFT, PolyChain Monsters designed three special-edition Polymon — each representing one of the special Moonie NFTs: Doggie, Ettie, and Bitty. These 3 ultra-rare Polymon came with all 10 different horns, with and without glitter, and were made available in booster packs from 12th August to 16th August. 

Each Moonie Uniair NFT allows the lucky holder to use a $500 allocation in Moonie NFT’s upcoming IDO. In addition, the NFT will act as a gateway to the play-to-earn Moonieverse. With a Moonie Ettie Uniair, for example, you will be able to join rockets and play arcade games. This time, however, there will only be a maximum of 40 special-edition NFTs to be discovered in booster packs. In addition, the Moonie Uniairs will be only available on Ethereum due to technical reasons.

All this activity has driven the platform to new heights as it looks to cement its position in the bulging world of NFTs. 

What are PolyChain Monsters? 

Polychain Monsters are a collection of animated digital collectibles created using blockchain technology. Each Polymon is backed by a unique NFT that is distinguishable from any other NFT and can be unpacked with PMON tokens, the native ERC-20 and BEP-20 tokens used by the platform. Each collectible is authentic and differs in rarity.

In addition, Polychain Monsters offers DeFi features such as ERC-20 & BEP-20 PMON, as well as NFT staking. The bigger picture for the Polychain Monsters NFT collection is that it can easily be integrated into modern games, art, and other blockchain-connected products.

If you’d like to get your hands on some PMON tokens yourself, check out the new DappRadar Token Swap. There you can swap between three different chains, including Binance Smart Chain.

BSC Plants a Flag in NFTs

The rapid rise of NFT projects on Binance Smart Chain arguably led by the GameFi dapp CryptoBlades and the BSC platforms own NFT marketplace is becoming hard to ignore. BSC can boast a huge number of users for its DeFi and token swapping services and they are now luring those same users into NFTs. Moreover, into the staking and DeFi mechanics wrapped up inside NFT and gaming projects. 

According to the July DappRadar Dapp Industry Report, BSC was the most used blockchain with more than 658,000 unique users in July; WAX comes second with 336,000 and Ethereum is now third with 105,000. Binance is not the only blockchain eyeing the huge potential of the blockchain-based gaming industry. Polygon and Wax are clearly laying out their stalls while other crypto companies and blockchains are also taking big steps in this direction. 

For some time now the cryptocurrency space has been looking for a mass-market use case. Arguably GameFi is a sector that people have been talking about for a while. As it represents the first sector of crypto where average users, without the need for a complete understanding of blockchain and cryptocurrencies can participate.

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The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, ADA, NIOX, AGIX, MATIC, MANA, SAFEMOON, SDAO, CAKE, HEX, LINK, GRT, CRO, SHIBA INU, AND OCEAN.