Sologenic Launches The First Decentralized NFT Marketplace On The XRP Ledger: Fast, Cost Effective With Zero Gas-Fee
The new marketplace is set to solve the high-cost and slow transactions of current NFT marketplaces on other blockchains while running on a fully decentralized ecosystem.
As NFTs grow in popularity around the entertainment world by allowing artists and creators to share and monetize their artworks in a decentralized manner; the Sologenic NFT Marketplace delivers 8 different categories to furnish all types of creators including music, film, motion graphics, and a newly dedicated category for sports. The absence of gas-fees shatters the entry barrier for new creators to start minting their artworks without extreme upfront costs.
With an easily-operated interface available in 22 different languages, the platform delivers a user experience that caters both new users and experienced traders. Integrated along the Sologenic DEX, the boundaries between modern-day trading and NFT minting have been eradicated.
“The idea behind the Sologenic NFT marketplace was to develop a decentralized NFT marketplace to solve the high-cost and slow transactions issues that exist on the other blockchains. Also, considering the current traffic of Sologenic DEX, it’s expected to see the Sologenic NFT marketplace gains a lot of popularity among the crypto community,” said Bob Ra, Co-Founder of Sologenic
The recent release of Ripple’s X NFT-Devnet, introduced the capabilities and functionalities of the new XLS-20d technology for native support of NFTs. In a recent report, the Sologenic team stated that the migration of NFTs minted under the current methodology (XLS-14/SOLO) to the new XLS-20D will be possible once it is available on the Mainnet, allowing each NFT to preserve its history.