Dialogue OKX Web3: Demand, Trend and Technology, Creating OKX Marketplace

OKX:http://ok.b615.com/6/

How to understand the evolution process of NFT market

OKX Web3: We can understand the evolution of NFT market from the aspects of technological innovation, market demand, NFT culture and practical application.

1. Origin and Concept Stage (2014-2017)

The concept of NFT can be traced back to 2014, when the "Colored Coins" project first demonstrated the possibility of using blockchain technology to represent digital assets. However, what really attracted widespread attention was CryptoKitties in 2017, which is a collection game based on Ethereum, allowing users to buy, sell and breed encrypted cats. This game shows that blockchain technology can not only handle transactions, but also manage unique digital assets, thus creating the embryonic form of NFT market.

2. Development and upsurge (2020-2021)

2020 is a year of rapid expansion of NFT market, mainly due to the rise of DeFi and public chain ecology. NFT is no longer limited to works of art, but also applied to music, virtual real estate and games. For example, OpenSea, Rarible, SuperRare and other platforms have been widely used. Among them, OKX Marketplace is a platform that rises rapidly in this wave. OKX market not only consolidates its market position by supporting multi-chain trading environment, but also shows its unique advantages in the industry through leading bitcoin NFT ecological construction.

In 2021, the NFT market ushered in explosive growth. In this year, Beeple's Everydays: The First 5000 Days was sold for $69 million, marking the highlight moment of the NFT market. The transaction volume of NFT will reach $2.5 billion in 2021, covering art, sports collections, game assets and other fields. This year, NFT gradually became a part of mainstream culture, and many brands and celebrities joined the NFT to create and sell.

3. Market Adjustment and Cooling-off Period (2022)

In 2022, with the overall fluctuation of the encryption market, the NFT market also experienced an adjustment, the transaction volume declined and the price became more rational. This period is regarded as the "cooling-off period" of the market, and speculative funds are reduced, but long-term holders and truly interested investors still keep their attention on NFT. At this stage, NFT's application scenarios are more diversified, including not only works of art, but also virtual real estate, music copyright, social tokens and so on. Major platforms have also introduced more technical optimizations, such as reducing transaction costs and improving user experience.

4. The continuous innovation and maturity of 4.NFT (2023- present)

At present, the NFT market is gradually entering a mature period from a fanatical period. Many platforms, such as OKX Marketplace, Magic Eden, etc., are supported by multiple chains, innovative smart contracts, and widely used in the meta-universe, which promote the diversified development of NFT market. On the technical level, emerging Layer 2 solutions such as Polygon and Immutable X further reduce transaction costs and improve user experience. NFT is no longer just a speculative tool, and more brands and enterprises are exploring its applications in the fields of metauniverse, games and identity authentication. With technological innovation, NFT is bringing more practical value to digital ownership and asset management.

What are the core functions provided by OKX Marketplace for users?

OKX Web3: We briefly list the core functions of OxMarketplace.

1. Deep support for Bitcoin ecology

OKX Marketplace has demonstrated strong innovation in the bitcoin ecosystem. Although Bitcoin was not originally designed to support smart contracts or NFT, with the development of new technologies such as Ordinals and Bitcoin inscriptions, the Bitcoin ecosystem is rapidly integrating into the NFT market and promoting the Bitcoin ecosystem to become more prosperous. We took the lead in supporting bitcoin NFT-related agreements and asset transactions, such as inscriptions, Runes and other agreements, and became one of the first markets in the world to support bitcoin NFT transactions, especially in terms of innovative tools in the bitcoin ecosystem, and continued to occupy a leading position.

2. Multi-chain support, connecting the mainstream and emerging chain ecology

In addition to Bitcoin, OKX Marketplace also supports nearly 40 mainstream blockchain such as Ethereum, Ton, Solana, Polygon, Arbitrum and Scroll. Through extensive multi-chain support, we provide users with one-stop service, which is convenient for them to manage and trade NFT assets in different blockchain networks, and enhances the compatibility and practicability of the platform.

3. Aggregate multi-market transactions to achieve one-stop service.

OKX Marketplace aggregates orders from several mainstream NFT markets, including OpenSea, Blur, Magic Eden, Tensor and so on, providing a cross-platform trading experience. Users can trade the best NFT orders in different markets directly on our platform without switching different applications. This model not only improves the user experience, but also makes OKX Marketplace the first choice for NFT traders and collectors.

4. Zero handling fee transaction, benefiting more users.

OKX Marketplace has greatly reduced the transaction cost of users through the zero handling fee strategy. This innovation not only enhances the market competitiveness of the platform, but also attracts and benefits a large number of users and creators to choose OKX Marketplace for trading. Especially for users who are active in the bitcoin ecosystem, zero handling fee has further reduced the threshold for NFT participation and promoted the circulation and popularization of bitcoin and other ecosystems.

5. Powerful data analysis tools to empower users to make decisions.

OKX Marketplace provides users with comprehensive data analysis tools to help them gain insight into market trends and asset performance. These tools can not only help users track the performance of emerging assets such as bitcoin inscriptions and runes in real time, but also provide collectors with detailed market analysis, such as K-line; And historical transaction data, such as real-time leaderboards, to help them make informed decisions.

OKX Marketplace and Bitcoin Ecology

OKX Web3: The innovative development of bitcoin ecology has injected new vitality into NFT market, and OKX Marketplace is one of the main forces to promote this process. Bitcoin inscriptions were originally a new way to record art and data on the bitcoin chain, but we quickly supported this function, allowing users to directly cast, trade and manage bitcoin inscription assets on the platform. This support not only improves the usability of the bitcoin network, but also opens up new asset classes.

In addition, OKX also took the lead in supporting Runes and Fractal Bitcoin protocols in the industry, further promoting the expansion of Bitcoin ecology. Especially Fractal Bitcoin, which uses fragmentation technology to optimize the storage and processing efficiency of bitcoin NFT, has become a leader in this field with its leading technology and innovative consciousness. OKX Marketplace provides a powerful tool for the bitcoin ecosystem:

1. Deep integration of Bitcoin NFT tools

OKX Marketplace provides a series of complete tool support for bitcoin NFT users, including bitcoin inscription casting, rune management and Fractal Bitcoin inscription trading tools. Users can directly participate in all kinds of NFT operations of the Bitcoin ecosystem through the OKX Web3 wallet, which is not only simple to operate, but also provides comprehensive developer documentation, greatly improving the trading experience of Bitcoin NFT.

2.NFT casting and distribution to help creators

OKX Marketplace provides users with convenient NFT casting tools and supports many chains including Ethereum. Creators can easily create and publish NFT through the platform, and set up an exclusive royalty mechanism to provide them with a stable source of income. This function greatly lowers the threshold of NFT creation and distribution, and attracts more artists and developers to participate in the ecology.

3. Real-time data and leaderboards

We also provide a wealth of market data tools to help users track the market dynamics and NFT performance in real time, especially in the inscription market, users can view the leaderboards, trading volume, market price and K-line data of related assets, and provide them with accurate market information support.

4. OKX Drops and exclusive NFT release

OKX Marketplace regularly launches exclusive NFT projects, providing users with the opportunity to purchase rare NFT through activities such as "OKX Drops". These limited-edition NFTs not only increase the attractiveness of the platform, but also bring users a unique collection experience.