- NFT marketplaces continue to grow rapidly.
- Fantom has minimal transaction costs.
Several currencies have lately surged with the cryptocurrency market. Since lately, FTM has gained traction in its climb, and its bullish rally appears to be gaining momentum at the current time. Fantom is a smart contract platform with a directed acyclic graph (DAG) that provides decentralized finance services for developers using their own unique consensus algorithms.
The NFT is a blockchain token type. NFTs are vital in the creative world. This refers to networks that independent producers utilize to monetize their material and directly reach consumers without advertising agencies or corporations.
The Non-Fungible Token (NFT) marketplaces continue to grow. NFT sales reportedly hit $363.8 million in July, up 506 percent from June and almost 1,300 percent since January.
The NFT explosion reflects widespread acceptance aided by improved technology. Fantom’s cheap costs and quick transaction speeds have facilitated simple NFT development, modification, and trading.
Ethereum to Fantom Token Bridge Being Developed
The Fantom Foundation is currently finalizing, Artion a specialized NFT marketplace and infrastructure with zero fees. Transaction costs for creating, selling, and buying NFTs often are high, restricting access to the affluent.
Yearn.finance and Keep3r Network creator Andre Cronje is working on a token bridge between Ethereum and Fantom’s ERC-721 NFT. Fantom users reacted positively to the news, praising it as a major victory for the FTM ecosystem on Twitter.
With all of the above issues, Fantom comes in as a savior. Because Fantom has minimal transaction costs, all NFT transactions remain cheap and accessible to all. Then there’s the factor of time.
No one wants to pay a transaction charge and then find out that their transaction failed after a 30-minute delay. Fantom’s speed and efficiency guarantee fast confirmations without annoying artists and fans. According to CoinMarketCap, the Fantom (FTM) price is $1.29 USD with a 24-hour trading volume of $412,077,000 USD.
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