In Q3, NFT trading volume on the BNB Chain surged by 283% quarter-on-quarter, with a daily average of $600,400, as reported by Messari. Although the average daily NFT sales rose by 47% to 8,900, the number of average daily buyers plummeted by 53% to 2,300, indicating that NFT activity was primarily driven by large investors, or 'whales.' The total NFT trading volume in Q3 reached $55.2 million, still lagging behind Ethereum and Bitcoin, which reported volumes of $120.7 million and $74.6 million, respectively. Other blockchain networks like Solana and Polygon also outperformed BNB Chain during this period. In contrast, BNB Chain's revenue fell by 27.9% to $34.9 million, attributed to declining gas fees on DeFi transactions. Despite a reduction in transactions, the total value locked on the BNB Chain increased to $4.8 billion, boosted by the performance of an algorithmic money market protocol. The BNB Chain also introduced a new tokenization service aimed at simplifying asset tokenization.

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