Coinbase's layer-2 network, Base, has surged in popularity within the Non-Fungible Token (NFT) space, claiming the third spot in 30-day NFT trading volume, according to data from DappRadar. This surge signifies a noteworthy shift in the NFT landscape, positioning Base ahead of established competitors like Immutable and Solana.

DappRadar's data indicates that Base's NFT volume reached $47.67 million in the last 30 days, marking a substantial 70% increase. This impressive growth has propelled Base into becoming one of the most active ecosystems, processing over 27 million transactions and recording more than $16 billion in decentralized application (DApp) volume during the same period. The DApp volume represents the total token transfers across DApps within the network.

Collections such as Get Based, DX Terminal, and Based Style have been instrumental in driving this surge in NFT trading activity on the Base network, collectively accounting for approximately $25 million in NFT trading volume.

While Base has experienced remarkable growth, Ethereum remains the dominant network for NFTs. In the last 30 days, Ethereum recorded over $400 million in NFT trading volume, with leading collections like CryptoPunks, Pudgy Penguins, Moonbirds, Bored Ape Yacht Club (BAYC), and Lil Pudgys driving the majority of trading activity. These collections collectively recorded over $200 million in trading volume on the Ethereum network.

The rise of Base in the NFT market highlights the increasing adoption and diversification within the digitalCollectibles space. NFTs, which gained significant recognition in 2020 and 2021, are unique representations of digital and physical assets using distributed ledger technology. They serve as a method of authentication for unique items, verifying ownership and other aspects. Beyond digital art and collectibles, NFTs have potential applications in various sectors, including companies tracking internal resources and platforms verifying subscriptions.