Stargaze: A Year of Shining Bright in the NFT Universe
Altering Marketplaces and Embracing Cosmic Innovation
One year has passed since Stargaze was introduced, and during this relatively brief period, this decentralized NFT marketplace, which is community-owned, has experienced substantial growth.
Growth and Innovation
Stargaze has redefined the traditional NFT marketplace model by embracing innovative features and utilizing the capabilities of the Cosmos blockchain. Let's delve into the distinctive qualities that set Stargaze apart from conventional platforms and explore the reasons behind its ascension in the NFT world.
One of the most significant distinctions is Stargaze's approach to network fees. Unlike platforms like OpenSea, Stargaze charges network fees in its native token, STARS, instead of relying on Ethereum's costly gas fees. This not only reduces transaction costs but also aligns seamlessly with the Cosmos ecosystem's vision. Furthermore, Stargaze is uniquely connected to various other blockchain networks through Inter-Blockchain Communication (IBC), allowing for frictionless interactions across different blockchains.
Another crucial aspect is community ownership. Unlike traditional marketplaces, Stargaze is a community-owned project, which means its primary focus is to ensure the success of projects that launch on the platform. STARS token holders play a pivotal role, functioning as both gatekeepers and owners of this NFT marketplace. This collaborative ownership structure fosters a sense of shared responsibility and dedication to the platform's long-term success.
In its first year, Stargaze has achieved remarkable milestones:
Over 600 NFT collections.
More than 70,000 NFTs have been minted.
Over $70 million in $STARS paid to creators in primary sales.
Over $6 million in secondary sales.
The largest in-to-out ratio in IBC transactions, solidifying its status as an integral part of the Cosmos ecosystem.
Stargaze: Mobile Adoption and Governance
A noteworthy achievement for Stargaze is its high mobile adoption rate, with Keplr Wallet accounting for nearly 50% of the platform's trading volume. This mobile-friendliness is a distinguishing factor as most NFT marketplaces primarily rely on web-based interactions.
With 130 validators and 78 proposals to date, the Stargaze community actively participates in block validation and proposal approval. Some notable NFT projects validating on Stargaze include Space Apes, IBCNFTs, and Bad Kids Art.
To further enhance the user experience and extend the platform's utility, Stargaze has integrated additional tools and services, including Stride Zone's liquid staking, Keplr Wallet's mobile integration, and cross-chain incentives provided by Team Kujira.
The tokenomics and governance structure of STARS are thoughtfully designed to accommodate the growing ecosystem. STARS tokens serve various purposes, such as facilitating transactions on Stargaze, enabling voting, and supporting staking. An ingenious deflationary mechanism, inspired by Ethereum's EIP 1559, is in place to ensure that the value of STARS appreciates over time.
Furthermore, Stargaze demonstrates its commitment to supporting underrepresented groups in the crypto space, as exemplified by its partnership with Maria founder and creator of Women of Cosmos in an Twitter (X) space with Cosmos Club.
As we celebrate Stargaze's first year, the future looks promising. Despite a 95% drop from its all-time high, Stargaze remains dedicated to creating long-term value, advancing the Cosmos ecosystem, and promoting diversity and inclusion in the crypto industry. With a growing Total Addressable Market and a dedicated community, Stargaze continues to shine in the NFT universe, poised for further success in the years ahead.
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