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Blockchain.com announced its own NFT marketplace

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Cryptocurrency Exchange and Wallet Provider Blockchain.com announced the launch of a platform for trading non-fungible tokens (NFT).

“The growth and hype in the NFT space are undeniable. But we see many of the same problems that the cryptocurrency faced in the early days of its existence”. The company said in a statement.

Furthermore, Blockchain.com believes that access to the digital collectibles market is too “complex and unintuitive.”

Making access as easy as to the cryptocurrency market

“We want to make access as easy as to the cryptocurrency market. Using the marketplace Blockchain.com NFT you will be able to view, buy, sell and store NFT safely, even without leaving your wallet,” the firm said.

Blockchain.com opened the registration in the waiting list for users. Moreover, the launch of the beta version of the platform is planned “in the coming weeks.”

Earlier, some major exchanges decided to launch their own NFT marketplaces, including FTX, Coinbase and OKEx.

OpenSea dominates the sector

However, the OpenSea platform dominates the sector, which accounted for about 96% of the total trading volume of $1.98 billion in November. Also, the platform launched a smartphone application on Sept.17. NFT marketplace is facing a lot of competition, Opensea says it saw significant demand for a mobile app.

Recall that the Collins British Explanatory Dictionary of the English language recognized the abbreviation NFT as the word of 2021. In addition, the shortlist of nominees included the words “crypto” and “metaverse”.

Thus, the definition of NFT in Collins sounds like “a unique digital certificate, registered in a blockchain, that is used to record the ownership of an asset such as an artwork or a collectible”.

In May 2021, the American Merriam-Webster dictionary added a definition of a non-fungible token. After this, sold it as an NFT at auction on the OpenSea platform; for 15 ETH (about $55,000 at the exchange rate at the time of the transaction).

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