Unique Features Available on NFTrade
Although the NFT market has seen rapid growth in recent months, there are several challenges that the digital collectibles space has to overcome. Given that the market is still in its infancy, trade and user interactions are largely restricted. The NFT market also faces other challenges relating to centralization, network segregation, lack of swap ability, exorbitant fees, and more. Scalability and interoperability is also a major issue, which is preventing the mainstream adoption of NFTs.
For these reasons, more innovation in the space is practically mandatory to improve user experience and make processes easier, cost-effective, and beneficial to end-users. And how do you bring about this innovation? With platforms that add more value to the market and users through their groundbreaking features.
NFTrade is such a platform that gives users access to the whole of their NFTs and helps them unlock the market’s total value. With fantastic features that make it the ultimate NFT marketplace, NFTrade is also the first cross-chain and blockchain-agnostic NFT platform.
Here are some unique features of NFTrade that have allowed the platform to distinguish itself from other players in the market.
- Multi-chain NFT creation
Given a technology as advanced and exciting as NFTs, who wouldn’t want to make the most of it by interacting on various blockchain networks? That’s precisely what the multi-chain feature of NFTrade offers users. Thanks to this feature, users can utilize the NFTrade platform to mint NFTs on any supported network. They will no longer have to compare and choose which network features are optimal for NFT creation since they will be presented with all available choices in one place.
- Multi-chain and Cross-chain NFT Exchange
Similar to the above feature, multi-chain and cross-chain accessibility will allow NFTs to move freely in the NFT marketplace regardless of their native network. Not only will any single NFT be accessible on any chain, but users will also be able to immediately buy, sell, and deal with their NFTs across different chains. Whether the NFT is on Ethereum, BSC, or any other network, you can easily switch between chains with the press of a button.
Because of the existing inefficiencies inside Ethereum, the leading smart contract platform and the dominant host for most NFT assets, cross-chain accessibility is especially important. Ethereum network blocks are rapidly filling up as more users enter blockchain and DeFi ecosystems, resulting in highly unreasonable transaction fees.
However, with multi-chain and cross-chain accessibility, users can retain full sovereignty over their Ethereum-based NFTs while also exploiting the benefits offered by other networks, such as faster completion of transactions and reduced fees. It will also allow for integrating assets into previously incompatible networks, increased interoperability, and the compatibility of assets across networks and non-native applications.
- Escrowed Peer-to-Peer Trading
The implementation of escrowed peer-to-peer (P2P) trading of NFTs has the potential to introduce a significant amount of value to the market. How so?
Well, for starters, the vast majority of existing NFT markets do not allow swaps, and only allow for the purchase and sale of NFTs. However, users of a peer-to-peer trading platform such as NFTrade can trade directly with one another without the need for third-party oversight or verification, and smart contracts will ensure that both parties are satisfied with the transaction. Additionally, everything will be safely escrowed before executing to protect both parties.
Secondly, as the NFT marketplace grows and more users employ NFTs in a multitude of sectors, users will be able to engage in asset-to-asset transactions without leaving the platform.
With escrowed P2P swaps, a previously ignored segment of the market has become much more accessible, delivering additional value for those who choose to transact in this manner.
- Staking and NFT Farming
Applying the concept of staking and yield farming to NFTs allows users to turn their idle holdings into assets that generate additional value. Users can stake tokens on NFTrade in exchange for NFT incentives, which can range from rare gaming NFT characters to early beta access to new applications, application discounts, and more.
- NFT Launchpad
NFT launchpads are platforms where projects and artists can raise capital using NFTs. Launchpads essentially facilitate the democratization of raising capital by substituting traditional venture capital firms with a group of ordinary community backers. This not only helps new projects to obtain funds while building a devoted community early in their lifetime, but it also allows ordinary people to participate in projects that were previously only available to a select group of investors.
With the NFT market continuing to mature, many new projects are exploring ways to support assets, networks, and infrastructure. NFTrade’s launchpad will soon enable these NFT projects to raise funds by exposing them to a large community of NFT users, supporters, and collectors.
- Social features
Social media networks like Instagram and Facebook are popular not just because they’re a fun way to pass the time but also because of the opportunity for connections and community they provide. NFTrade’s social features are designed to allow the NFT community to connect with other collectors and creators and show off their NFTs to like-minded people. It will also be a space where community interaction and sharing fosters creativity and relationships within the NFT market.
All of these features make NFTrade a favorable marketplace for NFT enthusiasts, collectors, and creators.