Tezos is planning to launch its own NFT platform known as Kalamint next month itself. The NFT or non-fungible tokens as they are called, allow users to create, sell, as well as buy NFTs.
A news publication on Beincrypto claimed that Tezos, which is an Ethereum competitor and decentralized smart contract platform is launching its first NFT platform. They are planning to launch the platform, Kalamint next month.
This is a result of NFTs gaining immense popularity among users of different tokens. These unique cryptographic assets can’t be exchanged among others. They are what they are valued at.
NFT is used to prove the ownership of digital art and other collectible games. Similar to the NFT alternatives on Ethereum, the Tezos platform will let traders create their own tokens and be able to sell them.
Users have been sent a beta version of Kalamint for feedback and also smart contract testing. Crypto Cars Online is a company based in America that provides users to buy cars using cryptocurrency had tweeted this on the new development.
There is a substantial rise in Decentralized applications (Dapps) and Decentralized Finance (DeFi). The NFTs represent any unique digital asset, where it can be used for digital and art collectibles of the users owning the token.
Though the market is slowly growing, it is not as colossal as the DeFi. Beetle, who is a popular digital graphic artist, sold a 2020 NFT art collection for close to $800, 000. Another factor for the rise in the use of NFTs would be selling influencer tweets as one such example.
RAC who is a Grammy award-winning musician said that he sold an ordinary tweet to a fan for $50 ETH. Currently, tweets are getting sold for close to $7700. Most of the NFT transactions take place on the Ethereum network.
A news post on Publish0x stated the same thing about Tezos wanting to launch the first NFT platform called Kalamint. When compared to Ethereum, the fees charged for Tezos are quite less.
The transactions on Tezos are around 3000 times lower than those taken on Ethereum. Several collectors and NFT artists have already placed their complaints on the cost of the fee. There is a KALA token program for users who use it first.