Sirlibz
Zebpay, one of the top leading cryptocurrency exchanges in India with reportedly over 3 million of indian customers plans on emerging into the digital collectibles market.
The exchange has launched an NFT marketplace dubbed Dazzle in a bid to explore broader crypto market opportunities. The exchange also plans on expanding and promoting the use of blockchain technologies and cryptocurrencies among Indians 5 million crypto investors. The platform’s launch of dazzle is in accordance with its benefit from digital arts in such areas as protecting their digital copyrights and the monetization of their work.
Dazzle is launching with Zebpay native NFT called dazzle, tokens will be distributed to members via various programs.
“We’ll start with reward tokens offering zero membership or trading fees: some to our most loyal and active members, some as random airdrops, and some through fun contests. We probably will never sell them. We want to seed the ecosystem and let our members grow it organically. If they want to trade their NFTs, they can.”
Non-fungible tokens are digital Tokenized versions of an asset similar to stable coins but are used to represent non-fungible assets such as real estate, artwork or collectibles in place of flat money. NFTs are blockchain assets that are designed to not be equal, an example is the most popular NFT in the blockchain industry, crypto Kitties. There exist thousands of Crypto Kitties, but each has a different unique nature, different name, eye colour, facial expression etc.
The NFT market now over $100 million in total value and still has space for more growth, making it one of the sectors that isn’t yet exploited yet.
Vitalik Buterin, the inventor of Ethereum blockchain technology had long identified the different aspects of the blockchain technology and noted that these would help to advance the technology usage into other varied markets and not just limited to retail and professional digital-assets trading.
Top soccer clubs are also increasingly identifying these branded digital collectibles and are used sometimes in auctions and other blockchain-based ecosystems in order to monetize fan engagement.
