Do you remember the Nyan Cat? This silly animation paired with the catchy song was all over the internet a few years ago. Well, it was recently sold for $590,000 – yes, you read that right. The interest in digital assets is growing rapidly, and NFTs (non-fungible tokens) are the new way of doing business in the digital world.
Up until now, to be a part of the NFT marketplace was expensive and complicated – but the Vancouver-based company CoinOS just made it easy and affordable for everyone to join the frenzy with LNFT, an open-source marketplace platform.
CoinOS lets you create both custodial and non-custodial wallets within your account without the need to download a privacy invasive app - you can log in from any internet enabled device.
The platform seamlessly integrates Bitcoin and layer-2 networks Lightning and Liquid. Lightning makes it faster and cheaper than the competition, and Liquid means that there is added confidentiality and the ability to manage assets and NFTs.
CoinOS’s CEO Kris Constable spoke to Startup Thread about how their innovative platform works:
“We’re the first company in the world to build an open source WebWallet and white label NFT marketplace that works on Liquid. That’s a Bitcoin sidechain network that offers fast confirmation times and low fees, but still works with Bitcoin as the currency rather than an Altcoin token."
He also shared how CoinOS platform not only simplifies the tokenizing process, but it also makes it cheaper:
CoinOS’ platform also significantly lowers the cost of doing business with NFTs by orders of magnitude. “Under the status quo for NFTs, a seller often pays over $50 USD to tokenize a single piece of artwork before they sell it.”
But with CoinOS, their cost goes down to just 3 cents per tokenized item. Fifty dollars versus under a nickel — and you can see, it is so much easier to get started.
Read the full article to learn more about CoinOS and their plans for the future.
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