Algogems, launched by a Lyon-based start-up, has entered the non-fungible token (NFT) market with a simple solution for the public and professionals alike. It lets users easily buy and sell NFTs, which are unique digital assets traded using cryptocurrency and that guarantee ownership of a digital object (e.g., a photo).

Creating NFTs is easy and free of charge with Algogems

The algogems.fr site gives the public access to NFT technology, because everyone can create an NFT as easily as a social media post!

Algogems is one of the cheapest NFT websites on the market:

• Free registration for sellers and buyers
• Free NFT certification
• Free content upload
• No cost to the buyer

Websites like BlogBMW.fr and L’Agenda de l’Automobile have chosen Algogems to sell their NFTs. Contests and events provide opportunities to engage and attract communities under various themes. Algogems provides a design and sharing service that values content creators.

Investors attracted to source code and carbon-negative approach

ALGOGEMS uses the ALGORAND blockchain because “it’s a public blockchain that works on the proof-of-stake model, which reduces power consumption to almost zero,” explains Silvio Micali, founder of Algorand.

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ALOGOGEMS is not based on an existing engine; its own developers have coded the platform. The start-up therefore owns its source code, which reassures investors, who have already invested $1 million by purchasing GEMS as part of the initial coin offering (ICO), which wrapped up successfully in mid-September 2021.

Financial support for Algogems comes from a grant by the Algorand Foundation and an investment from Borderless Capital.

What’s next?

Algogems is following its development roadmap, and its community will soon provide moderation services in the form of governance to curb NFTs that don’t respect intellectual property.

Things are moving fast for Algogems, whose rising sales figures will allow for steady growth in 2022.

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