India’s oldest bitcoin exchange enters the NFT token market

CONTENT

  • India’s largest bitcoin exchange to release its own NFT token

  • NFT token holders will be able to reduce fees on the ZebPay platform

  • Community anticipates new hype, akin to ICO and DeFi

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One of the oldest crypto exchanges in India will be the first company in the country to issue its own non-fungible token. As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More and the NFT asset marketplace

India’s oldest bitcoin exchange ZebPay will issue its own non-fungible token (NFT) called Dazzle, as well as launch an entire marketplace for such assets. This is reported by the Financial IT edition, referring to the CEO of ZebPay Rahul Pagidipati. According to the head of the exchange, in 2020 the total volume of the global NFT market reached $ 100 million, and it is expected that it will continue to grow along an exponential curve..

“This stage in the development of the market is comparable to the time when bitcoin first reached the $ 100 million mark [market cap] and then began to skyrocket,” said Pagidipati.

What exactly will be the Dazzle token remains unknown.

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Collectors currency

Without going into details, Pagidipati noted that Dazzle will provide owners with benefits in the form of low fees on the ZebPay exchange, as well as discounts from partners such as e-commerce retailers, streaming services and food delivery. Whether it is necessary to spend Dazzle for the above privileges is not clear.

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ZebPay CEO expects NFT tokens to benefit investors, artists, gamers, collectors and creators of any unique and valuable digital content.

NFT fever

India's oldest bitcoin exchange enters the NFT token market

Meanwhile, interest in the NFT token market is gaining momentum. Non-fungible tokens are unique digital assets that are different from each other and cannot be exchanged equally. One of the most striking examples of NFT products is the sensational blockchain project CryptoKitties, where users can buy, collect and sell unique virtual characters based on the Ethereum blockchain..

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CryptoKitties kittens catalog

BeInCrypto previously reported that according to Bad Crypto podcast host Joel Komm, NFT tokens could generate a new big wave that will cover the cryptocurrency market, as once did an initial coin offering (ICO) fever or a boom in decentralized finance (DeFiDecentralized finance (DeFi ) Are financial services built on blockchain technology that offer users access to an open, efficient and … More).

The first signals of NFT fever are already making themselves felt. For example, over the past couple of months, there has been a sharp increase in activity on the SuperRare non-fungible token platform. The company announced that in October it managed to sell digital art objects and NFT-tokens in the amount of $ 4 million.

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India's oldest bitcoin exchange enters the NFT token market

NFT (Non Fungible Tokens) – Concept To Earn Millions ?

India's oldest bitcoin exchange enters the NFT token market
India's oldest bitcoin exchange enters the NFT token market

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