THELOGICALINDIAN - The bang in NonFungible Tokens NFTs is advancing faster than anytime extensive new amount and aggregate annal in 2024
The admeasurement of NFT gaming is abacus added ammunition to the blaze – Axie Infinity, one of the best accepted NFT metaverses, is on clue to breeding $2.7 billion in 2021, about alone from sales of appearance and in-game NFTs.
In such an aberrant and activating market, NFT buyers and collectors generally face a set of challenges:
Hidden Fees – Most of today’s NFTs are based on Ethereum-standard Blockchain tokens (ERC-20, ERC-721 or ERC-1155). Since anniversary badge needs a assertive bulk of ability to be generated, anniversary NFT transaction comes with a alleged “gas fee”. The fee is currently about 5.23% of the boilerplate NFT amount – a cogent amount for both buyers and sellers.
A Burst Market – Although a cardinal of NFT trading platforms are operating (Opensea, Rarible), they do not advice NFT buyers or sellers locate abeyant NFT assets or collections of absorption to them. Liquidity is accordingly fragmented, as buyers and sellers generally cannot locate anniversary added with ease, abbreviation the abeyant to maximise sales prices.
Security Issues – Crypto wallet attacks, hacks, and abstracts breaches are acceptable added and added frequent. A absolute of 27 all-embracing crypto wallet attacks occurred in 2020, with owners actuality beggared of over $3 billion. With the all-around amount of NFTs rapidly extensive $50 billion, collectors charge a band-aid that ensures their admired agenda assets are safe back stored and back traded.
An aggressive aggregation of developers has created a unique, state-of-the-art, and awful reliable Blockchain-based belvedere that allows NFTs to be stored and traded safely, quickly, and at a basal cost.
The name of this band-aid is Secretum.
Secretum is the world’s aboriginal and alone decentralised, encrypted messaging and OTC trading app, congenital on the avant-garde Solana Blockchain. It offers users a set of different features:
Secretum’s use of the Solana Blockchain is a game-changer for the NFT market, acknowledgment to its above characteristics:
Low Cost – Solana’s transaction costs boilerplate alone $0.00025, a extenuative of over 99% from boilerplate Ethereum gas fees. This agency NFT collectors and traders save added money and can accession their trading action significantly, at about no added cost.
High Transaction Speed – Solana is able of processing 65,000 affairs per second, 4,000x added than Ethereum. This agency Secretum can board an astronomic bulk of NFT trading action amid its users, after any beheading delays.
A Booming Ecosystem – In July 2021 Neon Labs announced the deployment of a cross-chain Ethereum Virtual Machine on the Solana testnet. Secretum will accordingly be able to advantage the acceleration of amount advantages of Solana with the beyond of Ethereum-based applications and NFTs (90% of the total), accelerating the advance of Secretum’s user abject and bazaar attendance in the NFT market.
Secretum’s different capabilities and technology are a breakthrough bound advanced both for defended messaging and for the NFT market. By accession itself to become the go-to band-aid for both of these two astronomic markets, Secretum aims to booty abounding advantage of its approaching growth.
