Huge Hong Kong-based cryptocurrency exchange Kucoin Dreams to enter the non-fungible token (NFT) market as its liquidity trading platform Pool-X will open deposits of NFT assets from 16 November.
Pool-X will launch an exchange platform designated for NFT tokens in the next coming months.
As announced earlier today, the Pool-X platform will open deposit services for Dego. Finance NFT assets from 16 November. Withdrawals will begin on November 20, while the NFT exchange platform should arrive early in 2021.
Although NFTs have enjoyed 2020 with increasing transaction volumes by triple-digit percentages, they are still far from reaching mainstream within the cryptocurrency sector. Centralized exchanges have averaged over NFT, but Kucoin aims to change this.
The statement acknowledges that NFT trading presents many challenges for users as they lack the necessary education. However, Kucoin believes that in addition to the centralized trading platform, "NFT's trading limits will be reduced in an easy and user-friendly manner."
Kucoin is focusing on the NFT market. Although there is currently not enough market focus on NFT, the prospects are very good. In addition, it has many application scenarios in insurance, bonds, options and other fields. It can also create a virtual real world on the blockchain.
Therefore, we launched the NFT Trading Board to facilitate the participation of users in investing in NFT. "- commented Johnny Lew, CEO of Kucoin Global.
NFT is a cryptographic property that contains unique information and features, which prevents them from being mutually interchangeable. Some of their applications may be in the form of collectibles and artifacts.
His popularity has grown considerably since the beginning of the year and has even garnered support from celebrities. Canadian actor William Shatner, best known for his iconic role as Captain Kirk in the original Star Trek series, has sold nearly 125,000 digital photographs since his early days.
Later, another Hollywood powerhouse Ashton Kutcher and the Hilton Empire joined as successors to Paris Hilton. These two used an Ethereum-based platform to sell their digital art to bidders for charity campaigns.
Some DEFI protocols also took advantage of the NFT popularity, allowing users to cultivate NFT tokens. This resulted in the sale of large-scale of Crypto price pumps during the summer, but has not yet exploded in craze.
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NOVEMBER 14, 2020
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