NFT

Public unlock imminent! Star NFT blockchain Flow's anniversary review, latest developments, current activities

2021/10/12

Table of Contents

Summary:

Since December 2020, Flow blockchain has experienced exponential growth in traffic, with 600 projects built on the Flow blockchain in just nine months.
Flow is a blockchain platform built for consumer-level scale. Although the network has been running for less than a year, it has processed tens of millions of transactions for on-chain applications.
Projects built on the Flow chain have also attracted investors' attention, raising over $700 million in funding so far this year.

Ongoing Events

Flow FLIP Fest: September 15, 2021, to October 30, 2021
Flow Fest: Starting from October 12, 2021

What is the Flow Blockchain?

The Flow blockchain is a large family of all the best brands and their billions of fans, dedicated to putting user experience first and expanding the community base. The relationships between global brands, creators, and users are being redefined, and Flow's ecosystem partners span from global online users to independent developers and cutting-edge artists.

As Flow blockchain attracts more people, the ecosystem is flourishing, community engagement is increasing, and the stickiness of related products is also improving. These products revolve around things they trust and love, whether it's sports, art, games, music, or other forms of entertainment products.

Innovative projects based on the Flow blockchain continuously emerge, and the platform evolves in an open-source, non-custodial interactive manner. Empowering users with native digital ownership is the next step in building an open-source world on Flow. This trend is just beginning, and whether it's enterprises, brands, developers, or collectors, joining now is still in the early stages.

Growth of the Flow Ecosystem

Since December 2020, Flow blockchain has experienced exponential growth in traffic, with 600 projects built on the Flow blockchain in just nine months.

Services offered by various projects include music, fashion, sports collectibles, wallets, developer tools, etc. NFT use cases are thriving, and we can see a series of derivative services on the Flow chain, including fractional ownership, NFT-backed loans, social networks, and more. If a team wants to build something on the blockchain, building on Flow will provide the best experience.

The growth rate of wallet accounts has far exceeded the DeFi craze of 2020, and wallet accounts other than Dapper Wallet are also growing rapidly on Flow.

As the variety of available applications for end users diversifies, network transaction volume continues to rise. During this period of significant growth, Flow has seen a significant increase in the number of transactions processed, reaching tens of millions.

Flow is a blockchain platform built for consumer-level scale. Although the network has been running for less than a year, it has processed tens of millions of transactions for on-chain applications. The network effect of Flow is still in its early stages, and the operational capacity it demonstrates is just the tip of the iceberg.

The trust and technical reliability that Flow has built with consumers allow early-stage applications to succeed immediately.

Chainmonsters is a typical example, with over 60,000 registered players during its Alpha testing phase, and $1 million worth of Genesis card packs sold out within minutes.

Blocto is one of the most widely used wallets on Flow, accumulating over 200,000 users in less than a year since its launch. This has allowed Blocto to raise a significant amount of venture capital since its launch and generate over $5 million in revenue so far this year.

Furthermore, this trust not only exists among users but also among investors, as projects built on Flow have attracted over $700 million in funding so far this year, not including Dapper Labs' fundraising activities.

Flow is Environmentally Friendly

Building a blockchain platform from scratch with sustainability in mind is crucial, and Flow adopts a more environmentally friendly proof-of-stake consensus mechanism. This is a significant feature of Flow, and businesses, developers, and users consider this when weighing the pros and cons of different blockchains. Flow's energy consumption is equivalent to less than 1 GWh per hour, whereas Bitcoin's consumption is 110,000 GWh.

Current Events

1. Flow FLIP Fest

The first marathon event, Flow FLIP Fest, where developers come together to collaborate on open-source blockchain projects, has officially begun. FLIP stands for Flow Improvement Proposals, a community-driven initiative aimed at discussing and implementing impactful improvements to Flow.

Flow FLIP Fest is a two-month event that will attract and reward participants for innovative and effective improvements to Flow. The goal of FLIP Fest is to enable developers to build solutions on Flow that have a long-term impact on the developer community and a broader consumer audience.

This covers many areas, including non-custodial wallets, SDKs, learning tools, and participants will also propose solutions for specific needs, including feature requests already developed on Flow by enterprises.

FLIP Fest registration begins on September 15, 2021, and ends on October 15, 2021, with the event concluding on October 30, 2021.

2. Flow Fest

Flow Fest Schedule

The global virtual festival "Flow Fest" hosted by the star NFT public chain project Flow will kick off on October 12, 2021. Flow Fest will create immersive experiences to help the public understand the cutting-edge technologies currently built on the blockchain, from collectibles to games, music to sports, and will also include exciting news releases, exclusive airdrops, and other surprises.

Flow Fest includes a global marketing campaign aimed at attracting collectors from around the world to turn to the Flow blockchain ecosystem and related projects of partners.

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