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New NFT public beta turns to Web3 to help grow its audience

Consumer, Cryptocurrency, Market News, Technology
NEO:HOLD
16 February 2023 10:15 (EDT)

Though many have written off non-fungible tokens (NFTs) as a fad, there is a lot still happening in this scene to make it more open and user-friendly.

The NFT market has been mired by a complicated user experience, disjointed liquidity, and next to no social data. Every day there are new brands and creators entering the fray day, but users do not have a single place to find their collectible tokens.

Blockchain holding company, Immutable Holdings Inc. (NEO:HOLD), has officially launched the public beta of its NFT.com platform.

A one-stop shop for NFTs, the platform works to bring artists, collectors, creators, and fans together to buy, sell, and engage with NFTs wherever they exist. NFT.com aims to enable users to mint and create profiles, discover new and existing collections, purchase and sell NFTs wherever they are listed, and have access lower marketplace fees.

The platform introduces the concept of a social profile represented as an NFT called a “NFT Profile”, where users get access to exclusive features. NFT.com users can also buy and sell NFTs on the marketplace as well as other third-party marketplaces through the platform’s aggregator and transaction router.

Immutable Holdings’ CEO and Chairman Jordan Fried said in a news release on the launch that NFTs define the future of how creators, brands, entertainers, and more will engage with their fan bases.

“We believe NFT.com is the easiest, most accessible way for new crypto users to enter the NFT space and begin to grow their collection.”

The company also announced several platform-related launch partnerships with prominent brands from Web3 and consumer product sectors, including, among others, Allure Bridals, SuperNormal, The Doge Pound, and Unstoppable Domains, who will allow users to purchase digital identities directly on NFT.com.

“Bringing Unstoppable Domains to NFT.com means you can purchase your Web3 domains on the primary or secondary market, without additional transaction fees,” said Sandy Carter, SVP and Channel Chief at Unstoppable Domains. “We’re excited to help onboard the next wave of users to Web3 through a consumer-friendly, one-stop-shop for NFTs.”

NFT.com had, until now, operated in private beta where 9,000 people had created NFT profiles and more than 9.7 million NFTs were displayed and accessible through the website.

While the popularity of NFTs has risen and fallen in quick succession of late, allowing more users to be on-boarded through an easier process via the Web3 industry could mean better access to buying NFTs, using cryptocurrencies.

Immutable Holdings Inc. (HOLD) was down 6.15 per cent, trading at $0.305 per share at 11 am ET.


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