IOTA today launched its new NFT marketplace on IOTA 2.0 DevNet. Called IOTA NFT marketplace, this new launch is all set to change how NFTs are perceived in the market today. One of the prominent highlights of this new protocol is its feeless feature which is sure to revolutionize the way NFTs will be traded in the future. The network also claims that this unique NFT marketplace will also address the specific limitations related to the existing operational and functional procedures of NFTs.
It is beyond any doubt that NFTs have been able to occupy a distinct place in investors’ minds in recent years. Even the people who are not very well-versed with the cryptocurrency domain find NFTs an attractive option to have extra income from their artistic abilities. NFTs are tokens minted on blockchain and represent the digital form of art.
There is virtually no limitation when it comes to deciding what could be termed as NFT. Both tangible and intangible pieces can be converted into NFTs. Some prominent categories where this new form of digital asset is finding relevance include music, podcasts, paintings, antique jewelry, etc. It’s important to note that at any particular period, only one person can own NFT, and the ownership can be changed only when it is transferred to another buyer.
Launching the new NFT marketplace, IOTA has made sure that the NFTs come within the accessibility scope of the general public. Specifically, the segment’s costly nature keeps many new prospects from taking a plunge into the domain. By offering the very affordable and cost-effective option to buyers, IOTA has ensured that the masses will get access to NFTs without cost coming across as a deterrent. It would be interesting to witness the people’s response to this new launch and whether IOTA can garner support from the masses on its innovation. The IOTA forecast will also get impacted by this new launch and is expected to gain good momentum in adding value to its platform in the coming months.