NFT marketplaces have been a critical factor in the growth of non fungible token economies. They provide an easy way for NFT owners to do business with each other and fiat currency, boosting consumer confidence and giving them a reason to purchase tokens.
Let’s take a look at 0xcert the most established NFT marketplaces.
0xcert is a protocol that provides standards which make it quick and easy for dapps (decentralized apps) developers to build their own marketplace on top of the 0xcert infrastructure without these markets directly competing with one another. The idea here is that by building upon common standards they can work together, but operate independently – you could sell your CryptoKitties on an ArtByte based marketplace if you wanted to.
0xcert is a non profit foundation which aims to serve as an industry-wide self-sustaining ecosystem for digital asset management. This means that the 0xcert protocol will be open source, royalty free and community driven from inception. The Foundation plans to support third party developments by providing tools, services and education about the technology itself. They plan to be fully compliant with all regulations in existence or yet to come so as not to limit adoption of this blockchain project by key industries such as financial institutions and insurance companies.
The team behind 0xcert have been building NFT projects since 2015 including Catalogue Masterpieces , a virtual collection of famous paintings on the Ethereum Blockchain – available as ERC 721 tokens.
The marketplace is live with the first NFTs tokenizing their own digital assets are now listed on it, including ERC 20 tokens backed by real gold, fine art paintings and other high value items . The main focus for 0xcert at this stage is to provide a compliance solution which allows blockchain companies to comply with regulations such as know your client (KYC) and anti money laundering (AML).
Bankex provides blockchain-based solutions such as tokenization of real world assets like; equity in private companies, real estate, works of art or even precious metals. They also plan to offer cross border payments, lending and investing services.
Key partners: Proskauer Rose , Microsoft
Major investors: Russian Venture Company
Bankex offers a proof of asset protocol (PoA) which serves as an interface between financial and crypto markets. PoA is built on ERC 223 tokens, which offers the benefit of improved security when compared with ERC20 or ERC 721 tokens commonly used in NFT projects . It also creates a registry which tracks ownership and prices for each asset type.
Another addition to the 0xcert protocol has been announced this week; Gandhar Exchange . Gandhar will be regulated and decentralized marketplace for trading Etheremon – a blockchain game where you collect and train many different types of monsters.
NFT marketplaces offer an entry point into cryptocurrency-based digital economies, either by selling your own tokens or buying new ones. They boost consumer confidence, giving them a reason to purchase tokens and boost the overall adoption of cryptocurrencies in general .
Every solution provided by 0xcert is open source so they can be used for both commercial and non profitable needs . The protocol provides standards which make it quick and easy for dapps developers to build their own marketplace on top of the infrastructure without these markets competing with one another. 0xcert is also developing tools / services for third parties to use when building marketplaces ( KYC , AML, CTF) which will allow companies that are not crypto-related to safely enter this space.
Gandhar Exchange has been developed upon the 0xcert NFT standard called ERC 546 . By building its marketplace upon this protocol Gandhar offers a ‘plug and play’ solution which means that any ERC 546 token will be able to list on the exchange. This is not only beneficial for NFT developers, but also for Gandhar because it allows them to work with other big NFT projects such as; 0xcert ( Catalogue Masterpieces), CryptoKitties ( Kitties for adoption) and Etheremon (Mons game).
By choosing to use 0xcert’s open source protocol Gandhar Exchange has several benefits over similar exchanges :
– They won’t be competing with other marketplaces due to common standard usage – Token listings are done through one integration process which will bring listed tokens onto all the exchanges using 0xcert – It is possible to use different NFT standard on Gandhar Exchange. If in future, for example ERC 888 becomes more popular than 546 then it will be used instead of 546
To find out more about Gandhar exchange check their website or try live demo at https://nrkbeta.github.io/what-is-gandhar/#live . About 0xcert: 0xcert Protocol is a standard for non fungible tokens on the blockchain, providing a foundation for exchanging unique assets through the Ethereum network. The team behind this protocol have been building dapps and NFT projects since 2015. Visit 0xcert’s website as well as follow them on Twitter , Facebook , Reddit and Telegram .