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 launch of the marketplace is in partnership with Antara, a Hollywood movie; Terrain Art, the first blockchain-powered global art ecosystem; Shannon Rose, an abstract artist from Miami’s Wynwood district; Alejandro Glatt, a Tulum-based NFT multidisciplinary artist; ANI, a media newswire and Mike Boornazian, an actor on HBO and TLC, it said in a press statement.
Non-fungible tokens (NFTs) represent digital art, music and gaming collectibles, backed by the blockchain technology that enables the existence of cryptocurrency.
With economies turning increasingly virtual, NFTs are also expected to enable metaverse. In 2021 alone, the global marketplace for NFTs reached $41 billion, according to blockchain data company Chainalysis.
With the evolving NFT market, CrossTower aims to build a credible marketplace that allows creators and collectors to reach a wider audience. Through exclusive partnerships, the NFT marketplace allows users to trade in NFT drops of Hollywood movies’ IP rights and other niche art collections, in fiat and cryptocurrency holdings. The exchange also aims to tap into sports sector and celebrities’ personal collections. To ensure authenticity and due diligence, CrossTower has set up selection committees for NFT drops of the premium and exclusive collections it is offering on its marketplace, it added.
Kapil Rathi, CEO and Co-Founder of CrossTower said, “In 2022, the global market for NFTs reached billions of dollars. The market is expected to grow to over $80 billion by 2025. CrossTower not only provides best-in-class tech infrastructure, but also offers an all-encompassing financial ecosystem with its listing, trading and financing capabilities.”
Rohit Tandon, Head of Product for Blockchain and Emerging Technology at CrossTower said, “Our collaboration with credible brands is another positive step in the right direction, that will enhance the possibilities for creators and collectors alike.”
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Published on: Tuesday, March 29, 2022, 01:46 PM IST