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Rapid Growth of NFT Platform

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Rapid Growth of NFT Platform

Getart has an ambitious goal of being the world’s largest digital marketplace for non-fungible tokens (NFTs), such as ERC721 and ERC1155 assets, as well as placeable cryptocurrencies.

NFTs have introduced the world to digital art, collectibles, and memes. TechCrunch’s Founder recently even sold his apartment as an NFT.

The rise of NFTs has also played a role in the online gaming space, where players can collect NFTs represented as in-game assets. The ecosystem of NFTs is both fascinating and exciting.

Getart’s objective is to allow users to buy, sell, and own digital assets. In the Getart marketplace, users will also be able to search for various NFTs.

The world’s most expensive NFT sales to date

In-demand NFTs are selling at exponential prices, some of the most expensive sales to date include:

  • Beeple Artwork ‘Everydays: The First 5000 Days’ sold at Christie’s Auction House for $69.3 million.
  • Twitter co-founder Jack Dorsey’s first-ever tweet sold for $2.9 million.
  • A crypto-collectible called Cryptocat #896775 – otherwise known as Dragon – sold for $1.2 million
  • Music artists Grimes has dabbled in the NFT space by creating and selling tokens. The most expensive token she has sold went for $400,000.
  • An NFT basketball card of Lebron James sold for $200,000

Getart’s unique features

Getart has been audited by RD Auditors. The platforms use of BEP-721 tokens within the Binance Smart Chain (BSC). This sets it apart from other marketplaces that predominantly reside on the ETH Network.

Getart’s NFT marketplace serves to exist as a multi-platform ecosystem that serves creators and collectors alike. With low trading rates, the marketplace is geared toward facilitating an innovative and secure place for users.

Other marketplace features include:

  • Gaming
  • Collectibles
  • NFT Book
  • Others including music, art, and virtual galleries.

GAX: the Getart token

To build a sustainable ecosystem for future project launches and users the Getart token, GAX, will allow users to buy and sell NFTs inside the namesake marketplace. GAX is also accessible on the world’s most-​referenced price-tracking website, CoinMarketCap.

Issued on BSC, Getart says that 20% of token sales will be utilized for the dissemination of NFT in specialized media on the internet.

In May 2021, GAX listed on PancakeSwap, Coinsbit, and BakerySwap.

Verification within the Getart ecosystem

Blockchain technology acts as a decentralized record or ledger that traces the ownership and transaction history of every NFT.

The NFTs in the Getart marketplace will provide the option to verify the authentic owner of digital artworks, collectibles, and other items. The ability to transfer ownership is also an option.

As proof of ownership within Getart, each individual transaction will be recorded on the blockchain. This makes it unchangeable.

The difference between cryptocurrency and NFTs is fungibility. Cryptocurrencies can be traded or exchanged for one another, whereas an NFT cannot be exchanged for or equal to another NFT. The digital signature assigned to each NFT makes this impossible to do, as no two NFTs are the same.

NFTs are here to stay

NFTs exist in various digital art forms and exist on a blockchain network. From memes, to video clips, to property – the NFT ecosystem as a whole has grown rapidly.

Having been in existence since 2012, NFTs are considered a fairly young space. In recent years though, NFTS have experienced exponential growth.

Technological developments like NFTs attest to the ever-changing world of digital assets. The ability to create, sell, buy and collect NFTs is shaping the future of the art and music industries.

Marketplaces like Getart provide a safe and reliable space for artists and collectors to engage in transactions. Getart’s platform serves seller and buyer in an ecosystem that will soon be sustainable.

The post Rapid Growth of NFT Platform appeared first on BeInCrypto.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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