Last updated on April 14th, 2022 at 11:11 am
Thank you for reading this post, don't forget to subscribe!
OKEx, world leading cryptocurrency spot and derivative exchange, is throwing its weight behind performing and emerging NFT platforms as it expands the list of NFT native tokens on it’s exchange.
Non-fungible tokens continue to redefine the way collectibles like artwork, memorabilia, games, audiovisual contents and of recent the emergence of metaverse virtual reality are created, marketed, sold and used.
OKEx offers a diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. OKEx provides a platform for the rapidly growing NFT space to enable investors to trade their NFT native token of choice and help NFT developers raise funds for institutional expansion and growth.
Read Also: OKEx P2P Reviewed For Nigeria (Ultimate How-To Guide)
What Type of Non Fungible Token is OKEx Listing.
OKEx associates with various popular NFT-focused projects and platforms. NFTs, or non fungible tokens, are blockchain-based digital assets that represent unique collectible items, such as works of art. Essentially, the cryptocurrencies listed are not NFTs themselves, but are the native crypto assets for some of the most popular and promising emerging NFT platforms.
Most cryptocurrencies, such as BTC or ETH, are considered fungible because each unit of the crypto is essentially identical, as with cash. Unlike BTC or ETH, you cannot fairly swap one NFT for another because, by definition, NFTs are not identical, making them non-fungible. To explain the concept of non-fungibility, works of art or collectibles are individually unique, each with its unique story and store of memory with different values. Can you swap Lionel Messi’s debut Barcelona sports boots with a Picasso art piece ?
The values are different. The sentimental attachments are different. A football fan will always choose the former to the latter. Different works of art have different market values and are, therefore, non-fungible.
The Burgeoning NFT Metaverse.
Metaverse is an immersive virtual space that smoothly combines planned elements with spontaneous components, all influenced by a community of engaged users. OKEx also supports the growth of this ecosystem with millions of dollars in funding.
“An immersive experience pulls a viewer into another real or imagined world, enabling them to manipulate and interact with their environment. … The other type of experience is where you are shown around a real or imagined environment via desktop, tablet, mobile or via VR (Virtual Reality) headset.”
As the number of enthusiasts, founders, gamers and investors scramble to be part of the inclusive world of virtual experiences, digital assets and avatars, the seemingly simple transactions are creating newer avenues.
OKEx is listing NFT platforms into this rapidly expanding virtual reality. Metaverse NFTs are going to play a pivotal role in the future for retail, corporate office engagements, social media and over all commerce.
With Visa buying into NFT and Facebook creating Metaverse Horizon Workrooms, the digital world of the metaverse is giving rise to multibillion dollar marketplaces and opportunities. It is imperative to support NFT platforms to achieve an all inclusive reality that matches the real world with digital imaginations and enhancements.
OKEx has been in the forefront of promoting NFT and Metaverse NFT ecosystems with sufficient liquidity for the trading of these assets. Users of OKEx can win prizes or NFT by trading any listed NFT native tokens on promotion.
Below are NFT related cryptocurrencies listed on OKEx Platform.
- CHZ Token : a leading NFT currency for sports and entertainment.
- Enjin Coin (ENJ) is an Ethereum token that aims to “make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).” ENJ is used to directly back the value of NFTs minted within the Enjin ecosystem.
- MANA ( Decentraland) A cryptocurrency that facilitates purchases of LAND, as well as virtual goods and services used in Decentraland.
- OMI (ECOMI) ECOMI is a project that focuses on digital collectibles (NFTs). ECOMI consists of two elements, the ECOMI Collect ecosystem and the ECOMI Secure Storage Wallet.
- SAND: The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain using the platform’s utility token SAND.
- EFI (Efinity) next generation blockchain for NFT.
- MEME: The platform hosts digital artists from around the world and offers its community a chance at minting NFTs by staking their MEME tokens.
- TRA: Trabzonspor Fan Token is the official fan token of Trabzonspor.
- DEP (DEAPCoin) : the native utility token that is used for: Purchase NFTs on NFT Marketplace by DEP.
About OKEx:
A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks.
We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.
Follow us:
Medium
About The Author
Nsikanabasi Edet