OKCoin Becomes The Latest Platform To Announce NFT Marketplace

OKCoin becomes the latest platform to announce an NFT marketplace that will open its waitlist and will come with zero fees for NFTs on ETH, Polygon and other blockchains so let’s read more today in our latest cryptocurrency news.

The NFT craze shows no signs of stopping and the exchanges are looking for more ways to expose their users to the digital art market. To this end, OkCoin CEO Hong Fang announced that the San Francisco-based exchange threw its hat into the NFT ring with the creation of the new marketplace. It started taking names for the waitlist with plans to launch later in 2022. OkCoin’s announcement came at the right time when Coinbase and Blockchain.com announced the upcoming NFT marketplaces.

OkCoin becomes the latest platform to announce the NFT marketplace and it was founded in 2013 it stands out from other platforms like FTX, Crypto.com, and Binance which all have an NFT marketplace. However, OkCoin claims its marketplace will come with no transaction fees. OkCoin promises it will nto cap the NFT royalty rates creators which can set for secondary purhcases of the work. The platform said it will roll out the capability to purchase NFTs with fiat and the feature will entail a few for conversion from US dollars to crypto.

The new marketplace will support the creation and the trading of NFTs on different blockchains including Polygon, Binance Smart Chain, and Ethereum so the collectors can use mobile and browser-based wallets such as MEtamask to buy the NFTs. The founder of the platform Hong Fang noted:

“We’re launching a free market for NFTs where prices and profits will be determined by supply and demand, more so than anywhere else. Web3 is about restoring economic power to the people, and at Okcoin, we’re doing our part by granting as much sovereignty to individuals as possible when it comes to their money, and now, their art.”

OkCoin partnered with HUG which is a web3 brand dedicated to diversity and inclusion and to outline the collections by creators from the demographics marginalized in finance and tech. OkCoin says that the new marketplace will include Bored Apes, Boss Beauties, and Crypto Punks. As a part of the launch, OkCoin said that those on the open marketplace waitlist will have their first dibs on a drop of the exclusive set of NFTs that can say will grant holders free crypto as well as other perks:

“In the same way that blockchain technology empowers financial freedom with cryptocurrency, it empowers creators with NFTs.”