Spores NFT Marketplace is a path to start investing in digital assets, collectibles, and art. Spores’ ultimate goal is to build a full-stack NFT platform, consisting of an NFT minting portal and a marketplace for trading NFTs, supported by cross-chain interoperable decentralized finance protocols, which is feasible to solve the aforementioned limitations of NFT space.
The market cap of NFT, or non-fungible tokens, shows a fast-moving development, growing nearly ten-fold between 2018 and 2020. The source of these figures states that coming up with a market capitalization for a market this young is “a tricky exercise” and even mentions this particular estimate is “conservative”. The volatile nature of developments in this new market can also be seen in the transaction volume of NFT for various segments as well as the market size of NFT within the same segments: Transactions declined for gaming, whilst value grew for arts. This latter aspect was demonstrated in early 2021, when an NFT digital artwork was sold in an auction for roughly 69 million U.S. dollars — making it the third-most expensive art piece ever sold by a living artist.
Specifically, NFT marketplace is the place for auction, sale and exchange of NFTs. The marketplace is facilitated with cross-chain swap protocol, auction engine. When a transaction (e.g. an NFT auction) is complete, it will be forwarded to the corresponding smart contracts and their underlying blockchains to settle payment and transfer ownership. An AI assistant is employed to check existence and copyright of any new NFT submitted for minting and auction. It searches over all popular NFT marketplaces, then comparing similarity among items/files on sale to report copycats for enforcement actions.
Finally, The NFT market is booming with multiple players out there. Among the top competitors of Spores in the NFT world, we are going to capture fundamentals and comparisons as a full-stack decentralized NFT finance platform which gamifies DeFi users and collectors to enjoy NFT space and facilitates developers and creators in the creative industries to monetize easier from their works.
