Increased NFT Demand Triggers Tezos Transactions And Smart Contract Activity

Recently, the Tezos network has been experiencing progressive growth in its smart contract addresses and adoption for the past 12 months. This is majorly linked to non-fungible tokens as the primary driver for the increase. Hence, with the move, Tezos stands as viable competition to Ethereum in terms of NFT minting and its markets. Non-fungible tokens, NFTs, are recently gaining more attention within different sectors. More businesses and even celebrities embrace this digital asset for various reasons that satisfy their purposes. From creating expressions and awareness to generating non-profitable funds to enhancing community engagement and interactions, the use of NFTs continues. Just like cryptocurrencies, NFTs are created with smart contract technology. So, they could maintain a decentralized character by having no interference with third parties. This has also increased the activities of some blockchains that engage in developing non-fungible tokens. Related Reading | Bitcoin On Track To $50K, Why BTC Whales May Blaze The Trail One of the competitive advantages for Tezo is the high fees on the Ethereum network. This pushes both NFT developers and investors to look for alternatives, of which Tezos is one of them. In addition, the Tezos network boasts a portal for all its NFT marketplaces that it professes to be Carbon-Neutral. Also, fees at the network are meager. Moreover, there have been some controversial environmen...