NEW YORK--(BUSINESS WIRE)--Digital collectibles platform Blockparty today announced the launch of a Decentralized Exchange (DEX) by NFT Protocol. The exchange will allow collectors around the world to sell and swap non-fungible tokens (NFTs) via complex swap creations through bundling digital assets and currencies.
Existing on both Ethereum and Polygon blockchains, the DEX is an entirely peer-to-peer platform that allows for permissionless trading, facilitated by smart contracts on the blockchain. As a result, collectors can trade assets at any time, with no censorship from other organizations and stronger security to prevent hackers and platform failures, regardless of whether or not they’re a Blockparty user.
The DEX is mutually beneficial for collectors and creators, enabling shared experiences while also ensuring the creator and owner of the asset being traded can extend the monetary value of their collectible throughout its lifespan. Moreover, those who use the DEX will have the opportunity to earn Blockparty’s token ticker, NFT. After a year of leveraging the exchange, collectors who’ve minted on Blockparty will have tokens distributed to them.
“Blockparty has been committed to building platforms and tools that make all the workings of the NFT industry as seamless and accessible as possible for all who wish to join the community,” said Vladislav Ginzburg, CEO of Blockparty. “The DEX is a place where collectors around the world can maintain full ownership of their transactions, and work directly with fellow buyers and sellers to execute orders and further amplify the value of individual collections.”
Every swap on the DEX is charged a flat fee of .001 ETH / MATIC, the native cryptocurrencies on Ethereum and Polygon respectively. Those who hold 100,000 or more of Blockparty’s governance token, NFT, will be able to use the DEX at no cost.
“Since August 2020, the team at NFT Protocol has been working hard to build a unique trading experience that improves upon existing architectures while putting decentralization and community first,” said Joseph Fiscella, CTO of Blockparty and NFT Protocol Lead Developer. “I’m beyond proud of the product our team has produced, and can’t wait to see the value that creators, buyers and sellers around the world add to the decentralized exchange as they join the NFT Protocol community.”
Blockparty has created a new class of digital collectibles across art, music, and sports to enable users to share and earn value together. Through its Non-Fungible Token (NFT) Marketplace, Blockparty will enable fans to fully own, sell, and trade digital assets while allowing creators to build more valuable relationships with their fans by offering incentives, rewards, and giveaways through digital collectibles. Blockparty is headquartered in New York City, NY, and available to users across the globe. For more information, visit https://www.blockparty.co/.