Blockchain.com outlined plans to launch a marketplace exclusively focussed on NFTs to cater to the rising demand and fortunes that have attracted the attention of well-known individuals from different fields. With this move, the Luxembourg-based company is the latest one to dip its toes into the NFT market.
It joins the list of crypto giants such as Binance, Coinbase, and FTX.US, which have announced the launch of new NFT-focussed wings.
The platform revealed working on an NFT marketplace, but it’s yet to disclose a release date. However, it revealed that users will be able to purchase, sell, and store non-fungible tokens through the Blockchain.com wallets in the next few weeks.
Apart from announcing the opening of a beta list for the new platform, the official blog post also cited challenges in adoption and the market’s complex and unintuitive nature. Consequently, the platform aims to make assessing the NFT market as easy as entering the cryptocurrency market.
Its announcement reads,
“Over the last ten years, we’ve helped tens of millions of people access crypto by providing an easy way to buy, sell, swap, store, and earn crypto. Now we want to make it easy for people to access the exciting, new NFT market.”
Besides, Blockchain.com recently announced the acquisition of SeSocio, which is an Argentinian-based crypto investment platform, as it aims to expand its footprint across South America. Additionally, the firm earlier completed a $300 million Series C funding round to drive its valuation to $5.2 billion.
The NFT sales volume has amplified to a whopping $10.7 billion in the third quarter of 2021. As a result of the ongoing frenzy, the market figures have increased over eightfold from the previous quarter. Despite a minor slump in NFT trading volume in September, the figures are back on track.
The market is heating up as it continues to witness a strong sales volume on the leading NFT marketplace OpenSea. As a matter of fact, CryptoPotato recently reported that the trading volume figures for the platform have multiplied ten times since mid-August and recently surpassed the coveted $10 billion mark.
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