The third stage for transfer activity

Less than a week after its launch, Base has emerged as one of the top Ethereum Virtual Machine (EVM) chains for NFT transfers.

For both the ERC-721 and ERC-1155 NFT standards, Base is now the third most popular EVM.

Base NFT forwards past Arbitrum, Avalanche, and Optimism

Since the launch of Base Mainnet in August. 9, the new L2 shut down hundreds of thousands of daily users. Moreover, the total value locked on the chain (TVL) has reached 200 million dollars. And, of course, all those new users transferring crypto to Base aren't just for fun.

NFT transaction volumes on the network have increased more than those seen on alternatives, including Arbitrum, Avalanche, Optimism and those performed directly on Ethereum.

In fact, in recent days, only Polygon and BNB have recorded more ERC-721 and ERC-1155 transfers than Base.

On the day of its official launch, ERC-721 transactions on Base topped 100,000 for the first time. The next day, it rose to 165,00, which is 14.2% of all transfers that day.

For ERC-1155 transfers, Base appears to directly consume Polygon's share of the total volume.

On Sunday, Base accounts for nearly 20% of all ERC-1155 transactions. And in what was a rare occurrence but could become the new normal, Polygon's share fell below 65 percent.

Base integrates into the wider NFT ecosystem

Of course, it is difficult to guarantee that the base will maintain high NFT transfer rates.

The surge in NFT activity on Base could lead to excitement as many new projects launch in earnest and release new L2s. From new NFT games like Parallel Lives to previously unreleased music on Another Block, Base's NFT ecosystem is already filled with a variety of projects.

But the speed with which the new chain has attracted users in the space has been most impressive.

After months of testnet development, Base has entered the world already integrated with the wider ecosystem.

For example, major wallets, including Metamask and Trust Wallet, had Base integrations ready as soon as the Mainnet launched. Moreover, since all payments are made in ETH, new users do not need to purchase network tokens to trade on Base, making it easy to onboard.