Nonfungible tokens (NFTs) are rapidly becoming the most explosive crypto trend and have caught the attention of everyone in the crypto space as creators, investors and enthusiasts are jumping on the NFT bandwagon.
NFTs rolled out in the second quarter of 2014 when the first NFT artist, Kevin McCoy, minted the first NFT named Quantum. However, the NFT market skyrocketed in 2021. The trade volume of NFTs surged to $11.7 billion in the the fourth quarter of 2021 and was up more than tenfold during the year as crypto frenzy reached new highs.
NFTs started gaining mainstream attention with blockchain-based NFTs, such as CryptoKitties, CryptoPunks and Beeple artwork that sold for a staggering $69.3 million. It took the massive NFT sale — Beeple’s “Everydays: The First 5,000 Days” collage — in Match 2021 for NFTs to gain global attention and awareness. Then began the rush of enthusiasm for blockchain-based collectives that has led to many investors and creators becoming more interested in NFT marketplaces.
Today, the NFT marketplace is valued at $41 billion, and there is no doubt that the marketplace is yet to reach its maximum potential. However, despite the growing popularity of the NFT space, some problems continue to plague existing marketplaces. Some of these problems include deep technical knowledge required, payments in volatile cryptocurrencies, lack of regulation, high network fees, no user-friendly multichain solution, difficult user journey and sustainability. These are some of the issues that Moon.Art — the world’s first fully regulated, eco-friendly, community-driven NFT marketplace — intends to address.
Unlike traditional marketplaces that have high transaction fees for trading NFTs, Moon.Art offers a slightly reduced transaction fee. Users are required to only pay a 2% commission on the sale of NFTs. More so, Moon.Art offers huge discounts for its keycard holders.
Moon.Art has designed an NFT keycard that ensures users lifetime access to outstanding benefits on the platform. There are currently 10,000 keycards, with 8,000 being sold to users in a public mint. By utilizing the NFT keycards, holders will receive a 50% discount on trading fees on the platform, and for every additional keycard in a user’s wallet, the NFT marketplace will reduce trading fees by 5% until the fees are zero. Plus, 50% of the income generated from the trading fees on Moon.Art will be distributed to all keycard holders.
The increasing case of security breaches in existing marketplaces continues to discourage new users and investors from plugging into the NFT space. Thankfully, Moon.Art is on track to create a secure marketplace for everyone to trade their NFTs without the fear of losing huge amounts of money or access to their digital assets.
In a bid to protect users from money laundering, fraud and other illicit activities on the platform, Moon.Art implements complete Know Your Customer and Anti-Money Laundering mechanisms. These are measures that do not exist in current major NFT marketplaces. This way, Moon.Art aims to become the first fully regulated NFT marketplace for trading NFTs in the European Economic Area.
While many NFT marketplaces give no thought to the environmental impact of their transactions, Moon.Art intends to distinguish itself from other marketplaces by achieving eco-friendly outcomes on the platform. To achieve an eco-friendly NFT marketplace, Moon.Art will balance the carbon dioxide emissions of the platform with carbon offsets.
The introduction of Moon.Art into the NFT marketplace community will provide the opportunity for hundreds of thousands of NFT enthusiasts to discover and trade unique digital assets with ease.
The purchase of NFTs on Moon.Art will be possible via multiple blockchain networks, including Ethereum, Cardano, Polygon and BNB Smart Chain. NFT trading on the marketplace can be done by paying the fixed price or by rejecting and bidding on price lists.
Users can make payments for NFTs with Ethereum and many other tokens, as well as fiat currencies. The NFT transactions are made by users who either link their crypto wallet to the NFT marketplace or have a registered account with an associated wallet on the platform.
Moon.Art will create a safe and rewarding marketplace where all NFTs can be traded in a simple, fully regulated and eco-friendly manner.