News and Analytics

OKX Marketplace: active development of NFT platform

Mar 13, 2024
OKX Marketplace: active development of NFT platform
0

The OKX Marketplace is a trading platform for NFTs (non-fungible tokens) that operates across more than 10 networks. It offers a unique opportunity for trading quality NFTs through regular events on the OKX NFT Launchpad, supports searching for NFTs in various categories, and purchasing them in bulk with cryptocurrency, aggregating listings in real-time from several platforms.

Contents:

OKX Development for NFTs

The first thing that catches the eye is the number of blockchains supported by this platform. Other centralized exchanges typically support Ethereum or Solana, or both, but OKX extends its reach to Polygon, Aptos, Binance Smart Chain, Avalanche, Arbitrum, Optimism, Klaytn, Immutable X, and their own OKC chain, in addition to the two aforementioned ones.

OKX Marketplace: Active Development of the NFT Platform - news

In addition, to ensure deep liquidity, they also aggregate orders from other major platforms, such as:

  • OpenSea;
  • LooksRare;
  • Magic Eden;
  • IMX Official, and others.

The webpage is divided into 5 separate sections: Football Cup, Favorites, Marketplace, Launchpad, and Statistics.

Football Cup

This activity was launched in connection with the World Cup, as the name suggests. Although the World Cup has already ended, this mechanic can be utilized in the future for similar events. It’s a kind of betting game with a twist.

OKX Marketplace: Active Development of the NFT Platform - news

Users can bet on their preferred teams by creating their NFTs in a limited quantity of up to three per wallet, making a bet of 0.01ETH for each NFT. OKX adds 10 USDT to the prize pool for each NFT created. Holders of the NFTs of the winning team share the prize pool of approximately 20,000 USDT. In the event of a tie, the prize pool is divided equally among the token holders of both teams. The losing team's fund is transferred to the winner's fund.

After the completion of the final eight games, participants can withdraw their earnings or continue holding the NFT in hopes of larger prizes, especially if their NFT did not reach the semi-finals.

Before the third-place match, a list of NFT holders from both teams is finalized, and the prize pool is set at 10,000 USDT and distributed among the NFT holders of the winning team.

After the World Cup, rewards are collected and distributed among the token holders. The mechanism used in this process can be applied to other sporting events in the future, providing an excellent way to introduce a wide audience to NFTs, especially among football fans who are not yet familiar with cryptocurrencies, thereby attracting new participants to the crypto community.

Recommended Non-Fungible Tokens

This section is created to facilitate the search. The top part of the page is for current promotions; the next three sections for Trending NFTs, Recent Rockets, and Popular NFTs. You can choose from three different time frames to view this data: 30 days, 7 days, and 24 hours.

OKX Marketplace: Active Development of the NFT Platform - news

The most saturated section is "browse by categories", where the real discovery happens. There are a total of 8 categories with NFTs, aggregated from all supported blockchains.

OKX NFT Marketplace

Traders who know what they are looking for will most likely head straight to the "Marketplace" tab. Here you can search for the specific NFT which is needed. The page offers the following filters: 

Filter Description
Status Offers available, Buy now
Collections Search field available
Blockchain Option to choose multiple blockchains
Category and Price You can set a minimum or maximum price in the selected currency (e.g., ETH, BNB, etc.)

Clicking on an NFT takes you to an individual page where you can make an offer on this NFT. Certain reference information is available. It includes the NFT's history, any current listings and offers, price history, details about the NFT related to the blockchain and its contract address, properties to check for rare features, as well as the collection owner's and creator's contract addresses.

All of the above information is pretty basic and can be found on any NFT marketplace, but what catches your attention is the warning. There is some kind of warning mechanism about NFTs that are suspicious.

OKX Marketplace: Active Development of the NFT Platform - news

Launchpad

The launchpad often becomes a place where exclusivity is the key to success, and this rule does not bypass NFT releases. OKX collaborates with artists, developers, and partners to offer its customers exclusive NFTs. These events are highlighted on the Launchpad, where users can purchase newly created NFTs for a limited time, sometimes even at a reduced price.

However, there is a risk that the purchased item may not be as valuable as expected, and there may not be enough information for deep research before purchasing. Thus, acquiring such exclusive items can be a kind of lottery. The decision whether the game is worth the candle remains with the user.

OKX Marketplace: Active Development of the NFT Platform - news

NFT Statistics

For fans of statistics and numbers, OKX offers a variety of information likely to spark interest. The statistics page is divided into three main sections: Overview, Rankings, and Activity.

In the "Overview" section, data and charts are grouped either by individual blockchains, such as Ethereum or Solana, or by their combination. Here, you can learn about NFT market capitalization, the number of NFT holders (wallet addresses), comparisons between holders and traders, and the top 10 collections. Each metric can be viewed over different time frames, from 1 year to 24 hours.

OKX Marketplace: Active Development of the NFT Platform - news

The "Rankings" section includes rankings of NFT collections found in the OKX database. A distinctive feature is the comparison function, allowing you to select any two collections from the list for comparison. This tool can be very convenient for users.

OKX Marketplace: Active Development of the NFT Platform - news

In the "Activity" section, users can see how NFTs are performing. Searches can be conducted through a multitude of queries, including the ability to enter an address to search for a specific NFT.

How to Use the NFT Platform on OKX

To start using this trading platform, the following information will be quite useful.

How to Buy/Sell NFTs

Buying and selling NFTs on the OKX platform is quite straightforward. To buy, click the "Connect Wallet" button to choose a wallet to connect. OKX offers several standard options (MetaMask, Phantom, WalletConnect, OKX web wallet), but a distinctive feature is the "View Only" function, which allows importing an address to simply view assets and transactions. After connecting your wallet, you are ready to buy NFTs using the "Make Offer" or "Buy Now" buttons.

How to Create NFTs

Creating NFTs on the OKX platform is also not complicated. The process begins with clicking the "Create NFT" button on the favorites page. You will be guided through the entire process. OKX also allows listing NFTs on multiple platforms, which is very convenient.

Conclusion

The OKX trading platform for NFTs is a platform equipped with all the necessary features you would expect from a modern service of this kind. The platform looks attractive and modern. Particularly valued is the support for a multitude of blockchains, especially second-layer blockchains, which promises lower transaction fees. The range offered also deserves attention.

OKX is rapidly developing and aims to become the leading integrated platform in the cryptocurrency sector. For those interested in learning more about the platform's offerings, it is recommended to review our detailed OKX review.

Comments

Latest news

Bitcoin Critic Peter Schiff Issues Warning to BTC Holders as Halving Completes

Bitcoin Critic Peter Schiff Issues Warning to BTC Holders as Halving Completes

As crypto community celebrates completion of BTC halving, Peter Schiff issues warning for Bitcoin holders
Binance tax evasion trial moved to May 17 in Nigeria

Binance tax evasion trial moved to May 17 in Nigeria

Gambaryan’s lawyer, Chukwuka Ikuazom, objected, citing Nigerian law, stating he couldn’t plead until Binance, the primary defendant, was served.
IRS Introduces New Form 1099-DA for Reporting Income from Digital Asset Transactions

IRS Introduces New Form 1099-DA for Reporting Income from Digital Asset Transactions

The US IRS has introduced Form 1099-DA for cryptocurrency brokers to report digital asset transactions, aiming to improve compliance and ensure accurate tax reporting from digital assets starting Janu
Attention SHIB, XRP, BTC Holders: Key Update for Binance Users

Attention SHIB, XRP, BTC Holders: Key Update for Binance Users

Binance issues important announcement that might impact SHIB, XRP, BTC users
Show more

Latest Dapp Articles

Show more

You may also like