Authored by: @hetty-rowan
Today let's talk about the positive developments TEZOS has seen in 2021. The number of transactions on the network has grown enormously. But besides that, the number of smart contracts has also grown significantly compared to 2020.
Now you may be wondering what was the reason for that. And that turns out to have everything to do with NFTs. The ever-increasing demand for NFTs, as well as the relatively low costs charged by TEZOS. Those are the two main reasons for the great growth TEZOS has experienced.
TEZOS naturally benefited from this growth, and has also been given a favorable outlook for 2022 due to the extremely positive closing of 2021.
How strong was the growth?
Now we have to put all this into perspective, because Tezos is not that big. If you consider that in January 2021 only 10,000 transactions were processed per day. However, this number has increased fivefold in the past year, because in December TEZOS processed about 50,000 transactions per day. This is evident from the figures that can be found in the report prepared by Coin Metrics.
And even though TEZOS is not that big yet, this immediately indicates that there is still a lot of room for growth at TEZOS. What they have shown in the past year can in any case be called a major achievement.
Ubisoft
In this report, we can also find that the still growing NFT market is the main driver for the growth. TEZOS has always played a part in this, but it is getting bigger and bigger. And there is also a real possibility that the role of TEZOS will continue to grow in the coming period. Not least because one of the largest Gaming Companies has entered into a partnership for their Gaming NFTs on the TEZOS network. On December 9, Ubisoft launched a beta of their Quartz NFT Platform, where the NFTs are supported by the TEZOS blockchain. Players from the United States, Canada, Germany, Belgium, Italy, Spain, France, Australia and Brazil were able to receive free NFTs from Ubisoft (referred to as “Digits” by Ubisoft) on December 9, 12 and 15. The first game from Ubisoft in where the NFTs are available is "Tom Clancy's Ghost Recon Breakpoint".
The fact that Ubisoft has chosen the TEZOS Blockchain is of course a great boost for TEZOS and certainly also ensures that TEZOS is positively in the news.
Other factors for growth
Besides the success with regard to the large number of transactions thanks to the growing NFT market, there are of course a number of factors that play a role in the growth. Unlike, for example, the largest altcoin Ethereum (ETH), Tezos currently charges much lower fees.
The high costs charged by the Ethereum blockchain have ensured that, among others, the makers and therefore also the buyers of NFTs are looking for other cheaper blockchains. Tezos is one of them. The platform therefore has several major advantages for trading NFTs.
And another important point to mention is that TEZOS has another big advantage in addition to the lower costs for using the network. The network is also CO2 neutral!
This last topic, especially, has become a huge point of discussion in the entire crypto industry in recent times. The impact of the entire crypto industry on our climate is a much discussed topic. The industry is therefore under discussion in various countries.
However, together with a number of other blockchains, TEZOS is doing excellent in this area and is therefore widely touted as an alternative to energy-guzzling platforms. This also attracts many investors and traders.
Growth TEZOS wallets
Not only, the number of transactions has grown enormously. TEZOS also saw the number of wallets active on the network rise above 45,000. This is an absolute record in TEZOS history. In addition to this growth, the number of active addresses of smart contracts has also tripled in the previous year. This number increased from under 200,000 to over 600,000.
This is also a gigantic growth, of course. We can therefore rightly say that TEZOS has achieved a very impressive performance in the past year. For the time being, it looks like the growth in the NFT market will continue for a while this year as well. The future for the TEZOS platform therefore looks bright. It is therefore possible that the TEZOS price will rise enormously this year. TEZOS is definitely a crypto to keep a close eye on in the coming months.
Posted Using LeoFinance Beta
Thank you for reminding me I have some XTZ on Binance earn.
Time to move to native wallet and stake there.
Posted Using LeoFinance Beta
You're welcome. Good luck with the move, I hope it will give you more profits.
Good to see this update on tezos and what a way for me to get more knowledge about it,am also doing some research on some Nft package and I think I will be reading more about Ubisoft too
Wish you luck!
Thank you for this update. I've invested a little in Tezos before. This makes me even more sure about my investment. Maybe I should buy a little more. 😀
Hard to say for me as I have never invested in Tezos. As with any blockchain, they all have their pro's and con's. But I think this can grow bigger from here.
This update really looks so good and thanks for sharing how well tezos is doing now
You're welcome
I am honestly think the NFT cooperation between Ubisoft and NFTs failed. There are quite a few flaws with it and I think it may increase accounts but they won't really be active users there. First off, the NFTs were blocked off by tons of gameplay time. In the first 12 days, I think they only had like 8 transactions and people's general feedback towards it was quite bad. Would you really want to play 600 gameplay hours to get a single NFT? I honestly don't think that game was worth playing 600 hours.
Posted Using LeoFinance Beta
I didn't hear about this game, did you play it and get the NFT ?
Agree with you, I wouldn't spend that many hours to get a single NFT...
Posted Using LeoFinance Beta
No I did not but I saw a bunch of reviews about it because I was curious. There were a few NFTs released but the transactions were just too low and I didn't really think that the lowest mint NFT required hundred of hours of gameplay (most people will never get there).
Posted Using LeoFinance Beta
I didn't know that you needed so many hours of gaming before you could get the NFT, that was not mentioned in the things I've read. I am not invested in Tezos myself, neither do I play the game, and Ubisoft Quartz is not available in my region. So I had to go with the information I could find. Good to hear your reply.
Well that requirement was more for the highest tier NFT skin they had to offer but from what I saw, the feedback was generally negative. It didn't really work out and most players weren't really interested in using the network as a secondary market given the low number of transactions. The addition gameplay hour requirements also made it so a lot of people just didn't try.
Posted Using LeoFinance Beta
I need to transfer my Tezos from Coinbase onto a Tezos wallet and stake there instead. I've made some decent yield in coinbase and they pay like clockwork every 3 days a little over 1 Tezos to my wallet. I bet I could do much better on the Native Platform!
Posted Using LeoFinance Beta
I'm not sure, but I guess that could very well be the case.
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ubisoft has a general reputation of being scum bags. I'm sure they are doing it only for their bottom line
I honestly don't know. I only played one Ubisoft game and that was Rayman. I seriously loved that game on my playstation ONE. After that I didn't play that much games at all.