Okcoin has officially launched its NFT marketplace, according to details provided in a press release.
The Okcoin NFT will offer retail investors a chance to benefit from the creation and trading of NFTs at zero transaction fees. The exchange’s CEO Hong Fang made the announcement on Tuesday at the eMerge Americas conference.
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Fang announced the NFT marketplace’s launch alongside former tennis star Serena Williams, Okcoin said in the press statement.
The Okcoin NFT marketplace is set to see users not only benefit from zero fees NFTs trading but will also offer uncapped royalties.
Okcoin’s NFT marketplace is thus the first such offering from a regulated digital assets platform to provide creators a free rein on just how much royalty secondary buyers can part with.
And it’s not just the elbow room they are getting. The platform’s users will be able to access the NFTs on multiple blockchains, offering them a chance to tap into the benefits of a “free market,” CEO Fang noted.
We’re launching a free market for NFTs where prices and profits will be determined by supply and demand, more so than anywhere else.”
While creators of non-NFT digital art benefit from royalties of between 3-6%, NFT platforms offer royalty rates that can fall anywhere from 0 to 10%. Okcoin NFT promises to see creators benefit more from their work, especially as Web3 catches on.
Web3 is about restoring economic power to the people, and at Okcoin, we’re doing our part by granting as much sovereignty to individuals as possible when it comes to their money, and now, their art.”
Okcoin NFT is being billed as a marketplace that will seek to bring to the fore collections by marginalized demographics, including women NFT creators. According to the platform, the main goal is to enable diversity and inclusivity.
Okcoin NFT will support collections minted on leading blockchains, including Ethereum, Binance, Polygon and OKC. Other than that, ranking collections will be available. These include Bored Apes, Crypto Punks, World of Women, and Boss Beauties.
The marketplace also supports external wallets, while customers can easily use their holdings to buy or sell NFTs.
Okcoin is one of the fastest-growing crypto platforms in the world today. The US-based crypto exchange currently ranks 27th amongst the largest spot crypto exchanges. Launched in 2013, the platform is now available in over 190 countries and jurisdictions. Customers have access to more than 50 cryptocurrencies.
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