The Non-Fungible Token (NFT) bubble is accelerating faster than ever, setting new price and volume records in 2021:
- “Everydays – The First 5000 Days,” a digital artwork, sold for $69 million at a Christie’s auction in March.
- NFT sales increased by 700%+ to $10.7 billion in Q3 2021 compared to Q2 2021.
- The global value of NFTs has topped $43 billion.
The growth of NFT gaming is fueling the fire – Axie Infinity, one of the most popular NFT metaverses, is on course to generate $2.7 billion in 2021, nearly entirely from character and in-game NFT sales.
NFT buyers and collectors frequently encounter the following obstacles in such a unique and dynamic market:
Hidden Fees — The majority of today’s NFTs are built on Ethereum-compatible Blockchain tokens (ERC-20, ERC-721 or ERC-1155). Because each token requires a specific amount of power to be generated, each NFT transaction includes a “gas fee.” The fee is presently approximately 5.23 percent of the average NFT price, which is a considerable cost for both buyers and sellers.
A Fragmented Market — While a variety of NFT trading platforms (Opensea, Rarible) are available, they do not assist NFT buyers or sellers in locating possible NFT assets or collections of interest to them. As a result, liquidity is fragmented, as buyers and sellers frequently cannot easily discover each other, lowering the ability to maximize sales prices.
Security Concerns — Crypto wallet attacks, hacks, and data breaches are becoming increasingly common. In 2020, there were 27 large-scale crypto wallet assaults, with owners losing over $3 billion. With the global value of NFTs rapidly approaching $50 billion, collectors require a system that protects the safety of their valuable digital assets while kept and exchanged.
An enterprising team of engineers has established a one-of-a-kind, cutting-edge, and highly dependable Blockchain-based platform that allows NFTs to be stored and exchanged safely, swiftly, and at a cheap cost.
Secretum is the name of this solution.
Secretum is the world’s first and only decentralized, encrypted messaging and over-the-counter trading software, built on the groundbreaking Solana Blockchain. It provides customers with a variety of unique features, including:
- Direct NFT and crypto token trade between users is enabled through an integrated escrow smart contract capability, which allows users to discover NFT assets owned by other wallets. This creates a plethora of chances for trading NFTs without the need for exchanges, increasing the liquidity of the NFT market.
- Direct and anonymous registration, as well as messaging/phone communications with any other wallet owner anywhere in the world, based just on wallet address. Secretum enables cryptocurrency owners to make something unprecedented: converse and trade with one another without knowing one other or having each other on a contact list.
- High-security NFT and file storage on a distributed node network, removing the possibility of hacking, data leaks, and other external interference that plagues cloud-based messaging/storage solutions.
Because of its exceptional properties, Secretum’s usage of the Solana Blockchain is a game-changer for the NFT market:
Low Cost – Solana’s transaction costs are $0.00025, representing a savings of more than 99 percent over normal Ethereum gas expenses. This means that NFT collectors and traders save more money and can greatly increase their trading activity at absolutely no extra cost.
High Transaction Speed — Solana can handle 65,000 transactions per second, which is 4,000 times faster than Ethereum. This means that Secretum can handle a massive quantity of NFT trading activity between its users with no execution delays.
A Thriving Ecosystem – Neon Labs announced the implementation of a cross-chain Ethereum Virtual Machine on the Solana testnet in July 2021. Secretum will be able to combine Solana’s speed and cost benefits with the ubiquity of Ethereum-based apps and NFTs (90 percent of the total), driving the growth of Secretum’s user base and market presence in the NFT industry.
Secretum’s distinct skills and technology represent a quantum leap forward for secure messaging as well as the NFT sector. Secretum intends to capitalize on its future development by presenting itself as the go-to solution for both of these massive markets.
