Cryptocurrency exchange Zebpay, which claims to have more than 3 million users in India, is now exploring wider opportunities in the cryptocurrency market as digital acquisitions.
By launching a new trading platform called Dazzle, Zebpay has decided to enter the market of indispensable tokens. NFTs are unique but tradable blockchain assets that can be used to represent all kinds of virtual and real commodities.
NFTs differ from cryptocurrencies in that they may contain unique metadata and differ in scarcity. They are becoming increasingly popular in the token markets such as video game products, digital art, and fantasy sports.
A Zebpay spokesperson told Cointelegraph that the exchange aims to boost blockchain sharing beyond cryptocurrencies among India’s 5 million active crypto investors. Bursen believes that in areas such as the digital art market, NFT could provide Indian artists with new opportunities to protect their digital copyrights and make money from their work. The speaker also noted that the global NFT market has now reached $ 100 million and continues to grow, making it a promising sector.
The market is currently launching with its NFT Zebpay called Dazzle. A Zebpay spokesperson said the exchange plans to distribute tokens to members through various programs:
We start with bonus codes that don’t provide membership fees or trade fees: some are for our most loyal and active members, some are in the form of random gifts, and some are in fun contests. We will probably never sell it. We want to cultivate the ecosystem and allow our members to develop it organically. If they want to trade NFTs, they can. ”
It is reported that a wide range of franchises – from top soccer clubs to Formula 1 – are increasingly recognizing branded digital acquisitions, NFT auctions, and other blockchain-based ecosystems as effective means of monetizing fan engagement and creating markets for online viral phenomena and trends.
Blockchain developers such as Vitalik Buterin have long identified these diverse applications as a potential way for technology to spread to more diverse markets other than professional digital retail and real estate.