NFT is fast becoming one of the most discussed cultural phenomena of 2021.
They are revolutionizing the digital art space by enabling creators to generate and monetize works in a digital way that also acts as a stamp of verification and authenticity.
NFT is a non-exchangeable token and has a different value between tokens. This type of token has been around since 2012 when the colored coins project was first introduced.
It was followed by Counterparty in 2014 which is an open-source protocol that extends the functionality of Bitcoin and includes several projects with its own assets, including card trading and memes.
In October 2016, a meme turned collectible was published with the recognizable green frog, rare pepes on Counterparty.
Now, in 2021, ChilliSwap has successfully sold AP-T which is the world’s first combination of physical and digital artwork on the blockchain, thereby further bridging the gap between digital and traditional worlds.
ChilliSwap NFT Market
As the space continues to grow, platforms like ChilliSwap provide benefits to further enhance the user experience of artists and buyers.
Apart from being a fine arts NFT marketplace, the benefit of ChilliSwap is the DEX platform and ecosystem for users to exchange tokens, yield farming, or shares. Being part of a larger ecosystem, both sellers and buyers in the NFT marketplace have exclusive benefits.
The NFT marketplace also looks after content providers aiming to create a marketplace that is free from third-party interference.
In the interconnected world of ChilliSwap and dependent on existing DEX capabilities, NFT owners have the ability to collect CHLI rewards, harvest NFTs and CHLI E-Games as part of their focus on building a thriving digital creator economy.
This utility allows artists to produce their own NFTs, gives collectors and trade lovers access to unique and unusual collections of NFTs, and serves as a platform that rewards all registered users.
NFT sellers also benefit from the ChilliSwap ecosystem. A wider range of DEX users who are not very NFT holders are incentivized to keep them on the platform and gain the added benefit of visibility on the platform.