The NFT marketplace is, however, currently in Beta with the company warning users of the risks associated.
Flow Blockchain has launched BloctoBay, an NFT trading marketplace that takes after OpenSea, the first and largest marketplace for NFTs. BloctoBay comes with a minimalistic yet modern interface with NFTs on sale, boldly represented together with the description and the price.
Flow, this year has built upon its quest to capture a piece of the seamlessly ever-growing NFT market and collaborated with OpenSea the largest marketplace for blockchain-enabled non-fungible tokens (NFTs), to integrate its blockchain.
Flow and OpenSea’s partnership was aimed at the creation of a massive open economy powering the next generation of apps and games, by combining OpenSea’s position as an industry powerhouse and Flow’s unique ability to bring blockchain technology to mainstream audiences.
The partnership also gave OpenSea new types of engagement by creating a faster, more affordable, and user-friendly blockchain. OpenSea currently rules the NFT trading space, with over 12 million assets, 500+ dApps, and 10,000 ETH in monthly volume.
Flow Blockchain’s BloctoBay currently supports MotoGP Ignition, Xtingles, Versus, Ben Mauro, DARK COUNTRY, CNN, and other NFT deals, with many more to come. The NFT marketplace is however in Beta with the company warning users of the risks associated. Flow’s journey into the NFT space has so far has been lauded by many market experts as its platform provides several opportunities to further the growth of the marketplace’s digital economy around NFTs and digital collectibles.
Flow’s uniquely crafted technology also makes room for scalability without compromising decentralization or sharding the network and has been the go-to for a wider non-blockchain audience as it offers a great user experience. Flow is a decentralized, developer-friendly blockchain, which is designed as the foundation for a new wave of apps, games, and the digital assets that power them.
The blockchain is fast, unique with a multi-role architecture designed to scale without sharding, which allows massive speed improvements.
Flow also encourages developers to create thriving crypto and crypto-enabled enterprises. Applications built on Flow can keep consumers in control of their data, develop new types of digital assets that can be traded on open marketplaces from anywhere across the globe, as well as create open economies that are owned by the users that help make them valuable.
Smart contracts on Flow can also be put together like Lego blocks to power apps that serve billions of people, from basketball fanatics to mission-critical businesses or corporations.
Flow’s engagement in the NFT space looks to be growing each day and with a very rich ecosystem including global power brands such as Warner Music Group, NBA, and UFC, it’s potential for mainstream adoption looks to be very high.