Pay-per-use redefined - thanks to Pagi! Cryptos are an exciting topic. Especially IOTA. But wouldn't…
High fees for trading and offering NFTs are now a thing of the past
NFTs are certainly one of the most anticipated features for IOTA.
For Ethereum one of the top topics in recent years, many are looking for a solution on the IOTA Tangle.
The partly enormous fees on Ethereum and Co. often ruin the joy of trading with the digital works of art.
For example, if you want to buy a digital image / artwork for 80€/$ and you have to pay the same amount (or even more) in fees, you will certainly think twice about your purchase and there is a risk that it will remain a one-time purchase because the user experience is clouded.
Even as a creator you have to struggle with the fees.
If you want to put your art in the network, there are also fees here every time.
These sometimes amount to several thousand euros / dollars, if you want to offer e.g. entire collections or series.
A high risk, which the artist must therefore take in advance, since there is of course no guarantee that the works will be sold.
NFTiota – the first IOTA NFT marketplace
NFTiota is the first marketplace to rely on the IOTA Tangle technology and offers a cheap alternative to the Ethereum-based marketplaces.
Of course, the operators also have costs that have to be covered here – but the fact that IOTA offers fee-free transactions allows the operators to offer a much cheaper fee structure, from which artists, as well as the end customers benefit.
Likewise, NFTs based on IOTA eliminate the annoying fees when an NFT changes hands.
For the time being, NFTiota.org uses the current IOTA Dev-Net and offers its services in a slimmed-down form.
The platform currently serves as a test environment, which means that no real values are transmitted.
Dev-Net tokens are used for payment. (These tokens are to be regarded as a kind of play money.)
Over time, the platform will be expanded and new features will be added as soon as IOTA adds/implements new elements to the Dev-Net and/or the Main-Net.
Nevertheless, works can already be uploaded, sold/traded and much more without any prior technical knowledge. and thus prove that a fully functional, almost fee-free NFT platform is just around the corner.
NFTiota will be of great importance to the IOTA ecosystem,as well as the entire crypto market, once word of the benefits of this platform have spread.
If you have now become curious and would like to trade or even offer a few NFTs (for the time being as a test), you can start right away on NFTiota.org and explore the platform.