South Korea's largest cryptocurrency brokerage launches NFT marketplace

Charlie Taylor

south korea bitcoin UpBit, the largest cryptocurrency brokerage in South Korea, started operating on Tuesday (23) an NFT marketplace created by its operator Dunamu, according to an announcement made by the company on the same day. According to the note, the new 'UpBit NFT' platform, still in beta version, will offer, in addition to buying and selling, token auctions […]

South Korea's Largest cryptocurrency broker launches NFT marketplace first appeared on Bitcoin Portal .

UpBit , the largest cryptocurrency brokerage in South Korea, began operating on Tuesday (23) an NFT marketplace created by its operator Dunamu, as announced by the company on the same day. According to the note, the new 'UpBit NFT' platform, still in beta version, will offer, in addition to buying and selling, non-fungible token auctions.

UpBit NFT stars with the virtual works of visual artist Jean Koal and then aims to expand into other sectors, including sports, broadcasting, fashion and game illustration, says the company's statement. At the time of the text, the platform already offers works titled Brave Girls, Mad Monster, among others.

In a note, the company defines the new platform as “a curated marketplace that only trades verified NFTs, that is, that have gone through a review and negotiation process. It also says it plans to connect all of its 8.9 million customers to artists.

NFT market

The NFT market has grown exponentially in 2022 with the growth of several multiverse platforms and contracts from several auction houses around the world, that is, many sectors have embraced the idea and Dunamu also did not want to be left out. The company recently reached a market cap of $10 billion.

Upbit is the first exchange to obtain a compliance license from the South Korean government, and alone occupies more than 80% of the South Korean cryptocurrency market .

NFTs game tokens on the rise

With the growth of the NFT market and blockchain gaming platforms, native tokens from companies in the modality are also starting to earn historical prices, such as MANA and GALA, for example, from the Decentraland and Gala Games networks, respectively. To give you an idea, from Tuesday to Wednesday the MANA token valued more than 20%; the GALA, 400% in one month.

Another point is the importance that the term 'NFT' has gained globally. According to the Collins Dictionary, in 2022 the acronym for 'non-fungible token' is already searched above popular terms on the rise, such as 'cringe' , for example, a term in English commonly used to express a 'shame of others'.

South Korea's Largest cryptocurrency broker launches NFT marketplace first appeared on Bitcoin Portal .

Click to rate this post!
[Total: 0 Average: 0]
Next Post

Live on Axie Infinity to raffle 10 spots for Coingoback school on Black Friday

axie infinity To celebrate Black Friday, Coingoback's Axie Infinity School will raffle 10 people for today's live...

Live content about Axie Infinity will raffle 10 spots for Coingoback school on Black Friday first appeared in Cointimes .

Subscribe US Now