NFTs offer a blockchain-created certificate of authenticity for a digital asset, which can be traded and sold. One of the top 50 DeFi projects, TrustSwap, has created a new NFT marketplace, Swappable, that could potentially disrupt the NFT market we know of today.
Non-fungible token (NFT) started in 2017 and has become the new craze of the blockchain industry, faster than any cryptocurrency in the world. It’s a new kind of collectible that allows anyone, specifically artists, musicians, game developers, and many more, to put their creations on the blockchain, making them into a digital asset. Furthermore, these creations will become a collectible and can be sold for even up to a million dollars.
Simply put, NFTs offer a blockchain-created certificate of authenticity for a digital asset, which can be traded and sold. One of the top 50 DeFi projects, TrustSwap, has created a new NFT marketplace, Swappable, that could potentially disrupt the NFT market we know of today.
“Trust Swap is one of the leading DeFi projects for launchpads, liquidity locks, for token mint, and P2P, basically OTC and escrow services. And we also have the crypto app, which is one of the most downloaded apps in the space. And we sound like we have this toolset of creating a token, minting a token, locking a token, sending a token between two different parties. So basically, why not use the same toolset which we're using and adjust and adapt it to the NFT space? And we would like to bring the beauty of NFTs to the everyday user and our community,” explains Ivan Anastossov, COO of TrustSwap and Managing Director of Swappable.
Swappable is a user interface platform that focuses on NFTs and will soon support P2P trading of any ERC20 token. With this NFT marketplace, users can set up their storefronts and create NFTs on Swappable for free. Fees will only be deducted after the NFT is sold. However, if the fees are paid in SWAP tokens, users will enjoy a 50% discount. And the best part, 80% of the fees will go to the staking rewards pool, and the 20% will be burned.
With Swappable, anyone can turn their creations into NFTs with just a few buttons. The platform supports all major digital content formats (JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF (interactive 3D modeling). Users can also put a fixed price on their NFT or sell them to the highest bidder. In aggregate, users have more control over their NFT and how they roll it out.
“We launched with Johnny Leona, like a Finnish artist, he's very famous in the traditional art space, and he decided to make his first NFT. So like this, a traditional artist is selling art pieces between fifty and a hundred thousand dollars in different forms in the real world. And we are very excited to bring him to the NFT space, which shows what Swappable is all about. So Swappable and Trust Swap itself, we want to bring all these complex DeFi things, which is like token and token locks, and minting of an NFT, et cetera, to the everyday person, “ Shares Anastassov.
“So that's why, like we are not only an interface where you say you just put your NFT there, you're one of the thousands of NFTs on Opensea and Rarible, but we advise the artists, like every single step. So literally, one of our people went with the artist, helped him set up his Metamask, get his first NFT uploaded, and showed him how to mint it, mint it, and create it. We supported them with marketing,” concludes Anastoosov.
As NFT gains more demand and media attention, artists, musicians, and even ordinary people will be more interested in the NFT space. By allowing them to participate and create their own NFTs easily, we can expect that the NFT market will continue to grow and reach greater heights.