Babylons in 2022: A Yearly Review
The year 2022 has been a tumultuous one for the cryptocurrency and NFT markets, with many projects facing chaotic collapses and traders experiencing severe losses. Despite these challenges, it is also a time for resilience and determination as the industry continues to grow and evolve. In this context, Babylons have played a vital role in driving innovation and growth in the space.
2022 was marked with significant upgrades, developments, and new features for Babylons and our community. Although Babylons was not immune to the effects of the severe market downfall, we were successful in launching the multi-chain platform and introducing a range of new features and incentives for users. The adoption of multi-chain technology has allowed the Babylons community to buy, sell, and mint NFTs on a variety of blockchain networks. In addition, the introduction of the trade-to-earn and list-to-earn mechanisms, as well as the referral system and 0% platform fee for buyers, have helped to create a more user-centric marketplace experience for users.
The upcoming free-to-mint and original PFP NFT collections, as well as the BABI Army program, provide further exciting opportunities for engagement and growth. These developments demonstrate our commitment to building a strong and vibrant community, and as we constantly look for ways to improve the platform and create new opportunities for users. With the continued mainstream adoption of digital assets and the increasing popularity of non-fungible tokens, Babylons is well-positioned to continue driving innovation and growth in the NFT ecosystem.
What have we done in 2022?
Launching the multi-chain platform and introducing a range of new features and incentives for users was our top agenda for 2022. The adoption of multi-chain technology has allowed the Babylons community to buy, sell, and mint NFTs on a variety of blockchain networks, including Ethereum, Avalanche, Polygon, Optimism and Arbitrum, with a total of 39 networks now available on the marketplace.
In addition to the multi-chain launch, Babylons has introduced the trade-to-earn and list-to-earn mechanisms, which enable NFT traders on the platform to earn $BABI rewards based on user’s weekly trading volume weight and listed collections scores. The referral system, which rewards referrers with a portion of the revenue generated from trades, is another feature that has helped to create a more rewards-based structure for users. The 2.5% fee goes back to the community that differs Babylons from our competitors in the ecosystem.
To celebrate the multi-chain launch and these new features, Babylons will be releasing a series of free-to-mint NFTs on selected networks in Q1 of 2023. These NFTs will be handcrafted and feature different rarity tiers, with only one NFT per wallet available for minting. In addition to being a visually stunning experience, the free-to-mint collection will also grant holders a whitelist for the official PFP NFT collection set to be released in 2023, and act as a booster for the Babylons NFT marketplace once it is launched.
The BABI Army, a band of dedicated users of Babylons users who support the platform and its community, is another exciting development for us. Members of the BABI Army will receive special perks and rewards, including early access to new features and exclusive NFTs.
Our dedication to building a strong and vibrant community, and to constantly looking for ways to improve the platform and create new opportunities for users, have set us apart from a competitive market. With the continued mainstream adoption of digital assets and the increasing popularity of non-fungible tokens, Babylons is ready to continue driving innovation and growth in the NFT ecosystem.
2022 with Numbers
Babylons has a diverse user base, with 14% from Brazil, 3% from India, 11% from Thailand, 19% from Turkey, and 12% from the United States, among others. In total, our platform has 365,000 users, who spend an average of 4 minutes and 30 seconds on the site.
BNB Chain is the most popular platform for NFT sales on Babylons, with 57.8% of total NFT sales. Optimism comes in second with 22.1% of sales, followed by Arbitrum with 15.0%, and Arbitrum Nova with 4.6%. In terms of the number of NFTs listed on each platform, Optimism has the highest number with 6060 NFTs, followed by BNB Chain with 3063 NFTs, Arbitrum with 3198 NFTs, Arbitrum Nova with 669 NFTs, Ethereum with 296 NFTs, and Polygon with 130 NFTs.
On BNB Chain specifically, Babylons has sold 48,000 NFTs, average price being $417 with a total NFT volume of $20,000,000. There are 460 listed collections and 15,000 NFT trader wallets on the platform. These figures demonstrate the strong demand and activity on Babylons, particularly on BNB Chain, and highlight the platform’s popularity among NFT traders. In addition, the increased market share for the new chains we started to support such as Optimism and Arbitrum can be observed.
What’s Next For 2023?
In 2023, Babylons plans to continue giving back to NFT communities and beautifying their NFT journey as the market matures. We are working with creators to understand their needs and provide support with our upcoming Mint Launchpad. In addition, Babylons is introducing a new user-friendly UI and will be expanding and strengthening its community through the release of free mints on multiple chains. As part of its vision for web 3.0, the platform is also working on loyalty programs built with NFTs and a multi-chain NFT marketplace SDK to help companies and individuals make the leap to the digital future. These efforts reflect Babylons’ commitment to driving innovation and growth in the NFT ecosystem.
About Babylons
Babylons is a community-centric NFT ecosystem where users can trade on all EVM-based chains, participate in primary NFT and token sales, launch their own projects and curate their collections. Everything you do on Babylons generates passive income in the form of $BABI, our governance token, as all platform fees are returned to the userbase through our List-to-Earn and Trade-to-Earn programs. In addition, Babylons is a Web 3.0 technology solutions provider trusted by over 200 partners. Online since April 2021, Babylons has processed over 20MM USD in marketplace volume and has raised more than 2MM USD in primary sales for its partnered projects.
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