Sologenic Launches the First Decentralized NFT Marketplace on the XRP Ledger: Fast, Cost Effective with Zero Gas-Fee
The new marketplace is set to solve the high-cost and slow transactions of current NFT marketplaces on other blockchains while running on a fully decentralized ecosystem
The Sologenic NFT Marketplace
DUBAI, United Arab Emirates, Feb. 10, 2022 (GLOBE NEWSWIRE) — The Sologenic Development Foundation launched the anticipated NFT Marketplace set to become the leading platform to mint and trade NFTs with no gas-fees on the XRP Ledger. During an early access period last week, 150 creators from around the world were selected and invited to mint the first NFTs on the marketplace.
As NFTs grow in popularity around the entertainment world by allowing artists and creators to share and monetize their artworks in a decentralized manner; the Sologenic NFT Marketplace delivers 8 different categories to furnish all types of creators including music, film, motion graphics, and a newly dedicated category for sports. The absence of gas-fees shatters the entry barrier for new creators to start minting their artworks without extreme upfront costs.
With an easily-operated interface available in 22 different languages, the platform delivers a user experience that caters both new users and experienced traders. Integrated along the Sologenic DEX, the boundaries between modern-day trading and NFT minting have been eradicated.
“The idea behind the Sologenic NFT marketplace was to develop a decentralized NFT marketplace to solve the high-cost and slow transactions issues that exist on the other blockchains. Also, considering the current traffic of Sologenic DEX, it’s expected to see the Sologenic NFT marketplace gains a lot of popularity among the crypto community,” — Bob Ras (Co-Founder of Sologenic)
The recent release of Ripple’s X NFT-Devnet, introduced the capabilities and functionalities of the new XLS-20d technology for native support of NFTs. In a recent report, the Sologenic team stated that the migration of NFTs minted under the current methodology () to the new XLS-20D will be possible once it is available on the Mainnet, allowing each NFT to preserve its history.
Sologenic is disrupting the asset trading industry by offering: Tokenized Securities, Crypto Assets and NFT’s in a decentralized ecosystem. The Sologenic Development Foundation is formed by independent developers who maintain, build and expand the Sologenic decentralized ecosystem.
Sologenic.com as the largest use-case of the Sologenic Ecosystem, is a sophisticated ecosystem utilizing the on-demand tokenization of a wide range of assets including Stocks and ETFs.
Originally published at https://finance.yahoo.com on February 10, 2022.