NFT Competition Heats up as Okcoin Launches Zero-Fees Marketplace

• Growing cryptocurrency platform, Okcoin is launching an NFT marketplace with Zero transaction fees

• The NFT platform will reportedly support the creation and trading of NFTs on several blockchains

• As a part of the launch, the company plans to release an exclusive collection of NFTs that will grant holders free crypto, NFTs, and other benefits

Growing cryptocurrency exchange Okcoin announced on Tuesday that it plans to launch a new non-fungible token marketplace, adding to the already intense competition in the digital collectibles market.
The new marketplace will be competing with already established platforms such as OpenSea, Rarible, and Axie.

The marketplace named Okcoin NFT will feature zero transaction fees for investors, according to CEO Hong Fang, who made the announcement at the eMerge Americas conference.

Fang said:

“We are launching a free market for NFTs where prices and profits will be determined by supply and demand, more so than anywhere else,”

She added that while Web3 is restoring economic power to the people, Okcoin wants to do its best to grant as much freedom to individuals as possible.

The NFT platform will be the first marketplace by a regulated cryptocurrency exchange that does not limit the royalty rates that creators can set on their listed collectibles.

Read also: Moonbird NFT Hits $290 Million in Trading Volume Within 4 Days

Popular collections such as Bored Apes and Crypto Punks will headline the NFT platform and members of the waitlist will have first access after the launch.

Meanwhile, Randi Zuckerberg, the sister of Meta chief executive, Mark Zuckerberg has backed the crypto exchange and is joining its advisory council.

Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending and entertainment news.