Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

KuCoin Enters NFT Market with the Plan of Launching NFT Exchange

Published

on

 

On November 13, 2020KuCoin, an IDG backed exchange, announced that its liquidity trading platform Pool-X will open the deposit service of Dego.Finance NFT assets on November 16, and the withdrawal service on November 20. In the next few months, Pool-X will officially launch the NFT exchange platform and support NFT trading service. As the first major crypto platform to support the deposit and withdrawal of NFT assets, KuCoin will continuously contribute to the NFT industry in the long term.

NFTs (Non Fungible Tokens) have rich application scenarios in different fields such as collectibles, artwork, and GameFi. Its unique and indivisible attributes have increased market acceptance. NFT is regarded as the next trend in crypto following DeFi as its value is increasingly recognized by the market. According to a report released by the NFT data analysis website NonFungible.com, NFT transaction volume in the first half of 2020 soared to $230 million, an increase of nearly 300% year-on-year. Active users reached 78,881 with an increase of 5.7%.

KuCoin’s support on deposit and withdrawal of NFT assets indicates that NFTs will soon enter the centralized trading platform for circulation. At present, trading NFT assets is difficult for users because many of them are unfamiliar with on-chain transactions. The centralized trading platform will greatly reduce the threshold of trading NFT in an easy and user-friendly way. The centralized platforms will also become an important channel for the popularization of NFT concepts and the improvement of NFT liquidity.

Johnny Lyu, CEO of KuCoin Global, said: “KuCoin is paying close attention to the NFT market. Although NFTs don’t have enough market attention at present, the potential is great. Moreover, it has many application scenarios in insurance, bonds, options and other fields. It can even create a virtual real world on the blockchain. So, we launched the NFT Trading Board to facilitate users’ participation in investing NFT. And we donated 100,000 KCS to Dego.Finance to help its development. In the future, we will do more to solve the problems encountered in the NFT field and to build a prosperous NFT world.”

Advertisement

KuCoin is a global crypto exchange that supports multiple crypto asset transactions. Established in September 2017, KuCoin has grown into one of the most popular crypto exchanges in the world. It currently provides spot trading, P2P fiat trading, futures, Pool-X, and lending to its 6 million users in 207 countries and regions around the world.

SOURCE KuCoin

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

Blockchain

Automotive Finance Strategic Business Report 2024: Global Market to Reach $517.9 Billion by 2030, Fueled by Increasing Preference for Flexible Finance Options, Including Leasing & Subscription Models

Published

on

automotive-finance-strategic-business-report-2024:-global-market-to-reach-$517.9-billion-by-2030,-fueled-by-increasing-preference-for-flexible-finance-options,-including-leasing-&-subscription-models

Automotive Finance Market

Continue Reading

Blockchain

Co-branded Credit Card Market Trends and Industry Forecast, 2025-2030 – Untapped Sectors like E-Sports and Decentralized Platforms in the Crypto Space Present Business Opportunities

Published

on

co-branded-credit-card-market-trends-and-industry-forecast,-2025-2030-–-untapped-sectors-like-e-sports-and-decentralized-platforms-in-the-crypto-space-present-business-opportunities

Co-branded Credit Card Market

Continue Reading

Blockchain

BKOK: Revolutionizing Crypto Investments with a Secure and Sustainable Model

Published

on

bkok:-revolutionizing-crypto-investments-with-a-secure-and-sustainable-model
Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE