USDC

Base

Optimism

Friends With Benefits

<div class="sg-post-des">
 The "Onchain Summer" promotion drove activity to the new network, with hundreds of thousands of users minting NFTs in August. 
</div> 
<div class="cointelegraph"> 
 Base network’s “Onchain Summer” promotion in August resulted in over 700,000 non-fungible tokens (NFTs) <a rel="noopener noreferrer nofollow" title="minted" href="https://thebittimes.com/tag/minted.html">minted</a> by over 268,000 unique wallets, according to a Sept. 6 announcement from the team. 
 Coinbase launched Base, its Ethereum layer-2, on Aug. 9. To spur adoption, the network’s team implemented a month-long launch event. It partnered with over 50 companies, artists, and creators to release new digital art NFTs exclusively on Base. Each art set was released on a different date, requiring <a rel="noopener noreferrer nofollow" title="users" href="https://thebittimes.com/tag/users.html">users</a> to return to the network repeatedly to collect every piece. 
 Over the first two weeks of the promotion, over $242 million worth of crypto was bridged to Base, with over 130,000 unique wallets using it each day. 
 The final NFT set was released on Aug. 31; it will continue to be mintable until Sept. 7. Meanwhile, the Base team has released more detailed information about which digital art sets collectors were interested in the most. 
 According to the announcement, the Coca-Cola collection available from Aug. 13-16 saw the most activity, with over 80,000 pieces being <a rel="noopener noreferrer nofollow" title="minted" href="https://thebittimes.com/tag/minted.html">minted</a> over the period.&nbsp; 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/07/e3810ecda897ac334203fe14d088f683.webp" alt="" title=""> 
 <figcaption style="text-align: center;"> Vermeer, "Girl with a Pearl Earring," from the Coca-Cola “Onchain Summer” collection. Source: Onchain Summer. 
 </figcaption> 
 </figure> 
 Other highly-<a rel="noopener noreferrer nofollow" title="minted" href="https://thebittimes.com/tag/minted.html">minted</a> collections include those of Web3 gaming platform Iskra (71,000 mints), social media platform Friends With Benefits (71,000 mints), layer-2 network Zora (70,000 mints) and music rights marketplace anotherblock (55,000 mints). 
 Related: USD Coin officially expands to Base and Optimism networks 
 During this period, Base also saw the amount of cryptocurrency locked in its contracts steadily increase, reaching a peak of over $402 million on Sept. 3, according to data from DefiLlama. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/07/837c6d7ea06365f58010a71431515d3c.webp"> 
 <figcaption style="text-align: center;"> Base network total value locked (TVL). Source: DefiLlama. 
 </figcaption> 
 </figure> 
 Despite these achievements, Base’s launch hasn’t been entirely smooth. The network suffered an outage on Sept. 5 when its sequencer stopped producing blocks. Multiple scams have been promoted on the network as well, including $6.5 million rug-pull Magnate Finance. 
 <template data-name="subscription_form" data-type="nifty_newsletter"></template> 
</div> 
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/base-s-onchain-summer-saw-over-700k-nfts-minted-from-268k-users-in-august-tbt61785.html">https://thebittimes.com/base-s-onchain-summer-saw-over-700k-nfts-minted-from-268k-users-in-august-tbt61785.html</a>

Base's 'Onchain Summer' saw over 700K NFTs minted from 268K users in August

TheBitTimes

Other articles published on Sep 6, 2023

Bitop Exchange Launches Enhanced Crypto, Stocks,Commodities, and Binary Solutions

XRP Price Analysis Sept: Stunning +338% Surge, The Road from $0.50 to $2.18

Wemade’s Subsidiary Lightscale Launches Ethereum L2 Solution Kroma Mainnet, Bringing 100% ZK Rollup

George Coxon, Director at the Nano Foundation, quoted in Forbes!

Presidential Candidate Vivek Ramaswamy Endorses Bitcoin

Justin Bieber’s hit song “Company” transforms into royalty-sharing NFT

Join our free newsletter for daily crypto updates!