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FOR IMMEDIATE RELEASE: June 2, 2022, Sydney, Australia – NFT gaming platform Balthazar has launched the world’s first marketplace designed for trading playable NFTs. The platform makes it easy to acquire NFTs that are generating a yield income.
Balthazar’s Beta launch of its pNFT Marketplace signals a new wave of innovation in the NFT sector, which despite a very recent slowdown, has already surpassed the entirety of 2021 in terms of volume generated.
The pNFTs are digital assets that represent groups of playable NFTs – a portfolio of NFTs – assets used in popular play-to-earn games such as Axie Infinity. Balthazar’s NFT Management System allows NFT holders to rent them to Balthazar to use in its scholarship program. The gamers in the scholarship program use the assets to play and earn in NFT games, and the earnings are shared between the players, Balthazar and the NFT holders. The NFT holders are earning a yield income from their NFTs.
Through an OpenSea integration, the Balthazar Marketplace allows NFT holders to trade their portfolio of playable NFTs with scholars still attached.
The Balthazar Marketplace is a step towards its vision of creating a self-sustaining, wealth building ecosystem in the metaverse.
“This is a world-first platform where these NFT holders can bundle and sell their NFTs while our Wizards are using them to earn inside games,” said John Stefanidis, CEO and Co-Founder of Balthazar. “The Balthazar Marketplace is an exciting technology because it’s solving the problem for easily trading game NFTs as a portfolio that can include different game assets, and also keeping a yield while Wizards are using them in games.”
The GameFi sector is still in its infancy, with only a few shining examples such as Axie Infinity earning up to US$350 million per month in revenue. With the gaming industry generating over US$200 billion a year, and GameFi significantly unlocking the economy of each game, the industry still has many multiples of growth left.
The NFT space is also projected to grow by 293% in 2022 compared to 2021, according to Balthazar’s inaugural NFT Marketplace Update, which analysed NFT transaction data on some of the largest NFT marketplaces including OpenSea, LooksRare, Magic Eden, Solanart and BloctoBay.
The five marketplaces recorded a combined US$14.33 billion in sales volume in 2021, while 2022 to date has already surpassed 2021 by 63 percent (US$23.34 billion). Based on this run rate, they are expected to reach US$58.73 billion in combined sales volume by the end of 2022.
NFT Marketplace Sales Volume
|NFT Marketplace||2021||January 1-May 31, 2022||2022 projection||YoY growth projection|
|OpenSea||$13.06 billion||$14.68 billion||$35.22 billion||170%|
|Magic Eden||$588.52 million||$2.97 billion||$7.13 billion||1,111%|
|LooksRare||$5.37 billion||$12.89 billion|
|Solanart||$646.93 million||$114.73 million||$275.34 million||-57%|
|BloctoBay||$39.21 million||$333.56 million||$800.55 million||1942%|
|Total||$14.33 billion||$23.47 billion||$56.32 billion||293%|
“The NFT market is priming itself for even more growth than we’ve seen before,” said Mr Stefanidis. “It is the perfect time for innovative newcomers such as Balthazar, as we specialise in GameFi and P2E gaming. NFT gaming is simply a transfer of value to the gamers, so that the accounts they spend so many hours building are now unique, and owned by them. We help facilitate this.”
Click here to check out the new Balthazar Marketplace.
Balthazar CEO John Stefanidis Debuts on CNBC: Gaming as a New Use Case for Crypto
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