Non-Fungible Tokens (NFTs), which are experiencing a boom, is growing faster than ever. In 2021 they will set new volume and price records.
- Digital artwork “Everydays — The First 5000 Days,” sold for $69 million at a Christie’s auction in March.
- NFT sales jumped 700%+, to $10.7 billion Q3 2021, compared with Q2 2021.
- NFTs worldwide have an estimated global total value of $43 trillion.
The proliferation of NFT gaming is adding more fuel to the fire – Axie Infinity, one of the most popular NFT metaverses, is on track to generating $2.7 billion in 2021, almost only from sales of character and in-game NFTs.
NFT collectors and buyers face many difficulties in this dynamic market.
Hidden Fees – Most of today’s NFTs are based on Ethereum-standard Blockchain tokens (ERC-20, ERC-721 or ERC-1155). Since each token needs a certain amount of power to be generated, each NFT transaction comes with a so-called “gas fee”. The fee is currently about 5.23% of the average NFT price – a significant cost for both buyers and sellers.
A Fragmented Market – Although a number of NFT trading platforms are operating (Opensea, Rarible), they do not help NFT buyers or sellers locate potential NFT assets or collections of interest to them. Because buyers and sellers are often unable to locate one another easily, liquidity is fragmented. This reduces the opportunity for maximising sales prices.
Security Issues – Crypto wallet attacks, hacks, and data breaches are becoming more and more frequent. In 2020, there were 27 major crypto wallet hacks. The victims lost more than $3 billion. Collectors require a way to ensure their digital assets remain safe, both when they are stored or traded.
The platform allows NFTs, which are highly valuable and secure, to be safely stored and traded quickly and efficiently by a team of passionate developers.
This solution’s name is Secretum.
Secretum – The Ultimate Platform For Safe, Instant, and Low-Cost NFT Trading
Secretum is the world’s first and only decentralised, encrypted messaging and OTC trading app, built on the innovative Solana Blockchain. You will find a unique set of features.
- An integrated escrow smartcontract functionality allows users to search for NFT assets held by other wallets. It opens up endless possibilities for NFT trading without the need to exchanges. This increases the liquidity of NFT markets.
- You can anonymously register and message/phone any wallet owner around the globe, and it will only be your wallet address. Secretum allows crypto-owners to do something new: communicate and trade without needing to be on the same contact list.
- NFT/file storage with high security on a distributed network. It eliminates any risk of hacking, data loss, and other external interference that could normally be affecting cloud-based messaging/storage.
Secretum’s use of the Solana Blockchain is a game-changer for the NFT market, thanks to its superior characteristics:
Low cost – Solana’s transaction costs average only $0.00025, a saving of over 99% from average Ethereum gas fees. NFT traders can increase their trading activity at almost no extra expense and save even more money.
Very fast transaction speed – Solana is capable of processing 65,000 transactions per second, 4,000x more than Ethereum. Secretum has the ability to accommodate a huge amount of NFT trade activity among its users and without delay.
The Booming Ecosystem – In July 2021 Neon Labs announced the deployment of a cross-chain Ethereum Virtual Machine on the Solana testnet. Secretum will therefore be able to leverage the speed of cost advantages of Solana with the ubiquity of Ethereum-based applications and NFTs (90% of the total), accelerating the growth of Secretum’s user base and market presence in the NFT market.
Secretum’s unique capabilities and technology are a quantum leap forward both for secure messaging and for the NFT market. Secretum is positioned to be the solution provider for these huge markets and will continue to grow.