‘On-chain Summer’ Sees Base Birth Over 700,000 NFTs

By Philip Maina

5 days agoThu Sep 07 2023 10:45:3


Reading Time: 2 minutes

  • Base network’s on-chain summer event contributed to the creation of more than 700,000 digital artworks in less than a month
  • The NFTs came from close to 270,000 wallets, including from participating brands such as Coca-Cola
  • The network’s daily unique users average over 130,000 users

Base protocol’s on-chain summer event has led to the birth of roughly 700,000 NFTs in less than a month since the event was unveiled in August. The digital artworks originated from close to 270,000 wallets with the event pushing the number of daily unique users using the Ethereum scaling layer to around 130,000 users. The event attracted participation from leading brands such as Coca-Cola, something that has contributed to the network’s popularity in the blockchain world.

NFT Collectors Love Coca-Cola

According to Base creatorsNFTs created by Coca-Cola were the most popular with more than 80,000 artworks minted in three days ending August 16. The soft drink giant was followed by Iskra, a blockchain gaming platform that recorded over 70,000 mints of its NFTs, with others like Zora, Anotherblock and Friends With Benefits recording between 50,000 and 71,000 mints on their collections.

ᴏɴᴄʜᴀɪɴ 🟡 ꜱᴜᴍᴍᴇʀ@Coca Cola is bringing their Global Masterpiece campaign on-chain with iconic works from leading artists.

Mint now: https://t.co/xTWyI3O7IW pic.twitter.com/9wxFgt8qOh

— Coinbase 🛡️ (@coinbase) August 13, 2023

Apart from an increase in the number of NFTs minted on the platform, the Coinbase-incubated network also registered an increase in the total value locked which rose to slightly above $400 million during this period.

Making Crypto Useful

The on-chain summer was meant to popularize the network through partnerships from 50 brands with NFTs revolving around gaming and art. Coinbase also wanted to use the moment to make crypto useful and ease access to blockchain-based assets.

The network’s popularity has however also attracted malicious actors who have launched hundreds of scam tokens on the platform. Base also experienced its first outage on Tuesday this week, although the team got it up again within minutes.

Although the event allowed brands to connect with collectors, it’s to be seen whether they’ll be able to maintain the connection after the end of the event.

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