Okcoin's New NFT Marketplace Will Be Free of Transaction Fees
Niko Pajkovic — April 20, 2022 — Tech
References: okcoin & financemagnates
Crypto exchange platform Okcoin announced the launch of Okcoin NFT, the company's own NFT marketplace that will offer retail investors zero transaction fees.
According to the company, the marketplace will be the first in the world to offer the creation and trading of NFTs on multiple blockchains without placing a cap on creators' royalties. In particular, the royalties that creators can charge for secondary purchases of their artwork. In addition, to kick off the new launch, Okcoin will debut a series of limited-edition NFTs, which will be given away for free on a first-come-first-serve basis to members joining the now open waitlist.
“In the same way that blockchain technology empowers financial freedom with cryptocurrency, it empowers creators with NFTs. We’re launching a free market for NFTs where prices and profits will be determined by supply and demand, more so than anywhere else," said Hong Fang, CEO of Okcoin.
Image Credit: Okcoin
According to the company, the marketplace will be the first in the world to offer the creation and trading of NFTs on multiple blockchains without placing a cap on creators' royalties. In particular, the royalties that creators can charge for secondary purchases of their artwork. In addition, to kick off the new launch, Okcoin will debut a series of limited-edition NFTs, which will be given away for free on a first-come-first-serve basis to members joining the now open waitlist.
“In the same way that blockchain technology empowers financial freedom with cryptocurrency, it empowers creators with NFTs. We’re launching a free market for NFTs where prices and profits will be determined by supply and demand, more so than anywhere else," said Hong Fang, CEO of Okcoin.
Image Credit: Okcoin
Trend Themes
1. Royalty Cap-free NFT Marketplaces - The trend of removing royalty caps on NFT marketplaces provides an opportunity for creators to earn more revenue through secondary sales.
2. Multi-blockchain NFT Trading - The trend of enabling NFT trading on multiple blockchain networks presents an opportunity for investors to engage in more diverse portfolios.
3. Free Limited-edition NFT Giveaways - The trend of offering free NFTs through waitlist sign-ups can be a disruptive marketing tactic for companies entering the NFT market.
Industry Implications
1. Crypto Exchanges - Crypto exchanges can meet increased demand from investors looking for NFT trading capabilities on multiple blockchain networks.
2. Art Marketplaces - Art marketplaces can leverage royalty cap-free NFT trading to attract more creators, incentivize more sales, and earn bigger commissions over time.
3. Marketing & Advertising - Marketing and advertising businesses can learn from Okcoin's free NFT giveaway strategy to maximize reach and increase brand awareness for their clients.
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