Blockchain.com, a cryptocurrency exchange and wallet provider, has announced that it will establish a new NFT marketplace shortly.
Today, the company stated that a new non-fungible token marketplace would be added to the platform shortly. Anyone interested in getting early access may sign up for the beta waitlist on the official website.
In the next weeks, customers will be able to purchase, trade, and keep NFTs directly in their Blockchain.com wallet, according to the business.
The platform’s primary goal is to acquire non-fungible tokens as simple as purchasing bitcoins. Blockchain.com has introduced an NFT explorer to its website ahead of the debut of the non-fungible token marketplace.
“We aim to make entry to the NFT market as simple as access to the crypto market,” the business stated in its release. “You’ll be able to explore, purchase, sell, and securely store NFTs without ever leaving your Blockchain.com Wallet with the Blockchain.com NFT marketplace (in beta).”
Earlier this year, the NFT market had its first big boom, with weekly trading volume exceeding $190 million in May. However, the market promptly plummeted by about 90%.
This precipitous drop led some to believe that the bubble had burst and that the market would never recover. However, a new boom had begun by August, and the market had hit considerably greater heights than in May.
The weekly trade volume surpassed $1.6 billion by the end of August, which remains the metric’s record to this day.
Although the volume has declined dramatically since then, there is still substantial interest in the market.
The following graph depicts the trend in NFT weekly trading volume over the last year:
The 90 percent NFT collapse in May was precipitated by the Bitcoin (and wider crypto market) crisis at the time.
At the time of writing, the price of BTC is hovering at $57k, up 5% in the previous seven days. Over the last month, the cryptocurrency has lost 9% of its value. The chart below depicts the price of Bitcoin over the previous five days.
