A crypto exchange platform announced the launch of its global non-fungible token (NFT) marketplace.
Market launch in collaboration with Hollywood film Antara, blockchain-powered art ecosystem Terrain Art, anonymous artists Shannon Rose and Alejandro Glatt, newswire ANI and actor MikeBoornazian.
Non-fungible tokens (NFTs) represent digital art, music, and game collections, supported by blockchain technology, technologies that allow the existence of cryptocurrency currencies such as Bitcoin. As the economy changes dramatically, NFTs are also expected to empower the metaverse. By 2021 alone, the global NFTs market reached 4100 Crores INR, according to data from Chainalysis a blockchain and Defi analysis company.
In the release, the forum announced that it will offer a variety of NFT collection sets descending on various stages. It will allow users to trade NFT drops of IP rights for Hollywood movies and other niche art collections, via fiat and cryptocurrency capture. The exchange also aims to get into NFT sports and celebrity collections.
At the launch, Kapil Rathi, CEO, and founder of CrossTower said, “By 2022, the global NFTs market reached 100 crores INR. The market is expected to grow to more than USD 80 billion INR by 2025.CrossTower not only provides state-of-the-art technology infrastructure but also provides an environmentally friendly environment with its listing, trading, and financing capabilities. CrossTower is in a good position to grow closer to the NFT sector as it grows globally."
In addition to the growing rate of crypto adoption around the world, the NFT sector is undergoing a major transformation and is expanding. It has opened the door to a creative ecosystem opportunity.
Rohit Tandon, Head of Blockchain and Emerging Technology Product at CrossTower, said, “The NFT diversity and instant acceptance have created an amazing buzz among artists, creators, and their fans. Therefore, we believe there is a need for a reliable NFT market to reach a wider audience as moviegoers, cricket players and other artists enter the market. Our partnership with trusted brands is another positive step in the right direction, which will improve the chances of being a creator and collector alike.”