CrossTower, trading platforms and digital asset investment firms, today announced the launch of its global non-fungible token (NFT) marketplace. It provides a diverse set of NFT collection drops across segments.
The market launch is in partnership with Antara, a Hollywood film; Terrain Art, the world’s first blockchain-powered art ecosystem; Shannon Rose, an abstract artist from Miami’s Wynwood neighborhood; Alejandro Glatt, a multidisciplinary NFT artist based in Tulum; ANI, a media newswire and Mike Boornazian, an actor on HBO and TLC, they said in a press release.
Non-Fungible Tokens (NFTs) represent collectibles of digital art, music, and gaming, backed by blockchain technology that enables cryptocurrency to exist.
As economies become increasingly virtual, NFTs should also enable the metaverse. In 2021 alone, the global NFT market reached $41 billion, according to blockchain data firm Chainalysis.
With the evolution of the NFT market, CrossTower aims to create a credible market that allows creators and collectors to reach a wider audience. Through exclusive partnerships, the NFT Marketplace allows users to exchange NFT drops of intellectual property rights from Hollywood movies and other niche art collections, into fiat and cryptocurrency assets. The exchange also aims to tap into the sports industry and the personal collections of celebrities. To ensure authenticity and due diligence, CrossTower has set up selection committees for NFT drops from the premium and exclusive collections it offers in its market, he added.
Kapil Rathi, CEO and Co-Founder of CrossTower, said: “In 2022, the global NFT market reached billions of dollars. The market is expected to grow to over $80 billion by 2025. CrossTower not only provides top-notch technology infrastructure, but also offers a comprehensive financial ecosystem with its listing, trading, and funding capabilities.
Rohit Tandon, Product Manager for Blockchain and Emerging Technologies at CrossTower, said, “Our collaboration with credible brands is another positive step in the right direction, which will improve the possibilities for creators and collectors.
In addition to the increase in the rate of adoption of crypto around the world, the NFT industry is undergoing a significant change and is booming. It has opened doors of opportunity for the creative ecosystem. The CrossTower market also offers the world a direct window into a niche and rare NFT collection based on tribal art and craftsmanship, he added.
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Posted: Tuesday, March 29, 2022, 1:46 PM IST