Blockchain

NFT Platform Blockparty Launches New Decentralized Trading Marketplace

The platform will exist on both Ethereum and Polygon blockchains.

Blockchain

NFT Platform Blockparty Launches New Decentralized Trading Marketplace

The platform will exist on both Ethereum and Polygon blockchains.

In partnership with sister company NFT Protocol, Blockparty launches its brand new decentralized exchange (DEX) for non-fungible token (NFT) trading — the DEX is found at NFT.org and lives on both the Ethereum and Polygon blockchains.

This peer-to-peer trading marketplace gives NFT and cryptocurrency owners the opportunity to make transactions directly to one another with no intermediary. This means that users of the DEX will be able to trade, bundle, and swap digital assets in a much more affordable manner due to their low to zero-fee offerings made possible with no middle man.

Also mentioned in the announcement is the improved security aspects of the DEX being 100% on-chain, with users not having to deploy NFTs to any centralized smart contracts of an exchange that hackers can exploit. This is combated through offers, listings, and trades being created and executed entirely on-chain with zero information being collected on users in the process.

Users do not have to deploy NFTs to centralized smart contracts of an exchange that hackers can potentially exploit. Instead, offers, listings, and trades are created and executed entirely on-chain with zero information on users being collected during the process.  In a comment, Jake Cox, community manager at NFT Protocol mentions that this is important as it “eliminates all third-party risk and places the security of the system entirely into the hands of the user and the user’s own private key security practices.”

In addition to the added security and low to no fees, the DEX also offers multi-asset trading, and multi-chain support through trustless exchange of NFTs with other assets on Ethereum and Polygon — as well as its own governance token $NFT, which the brand says could evolve into a fully-fledged decentralized autonomous organization (DAO).

In other NFT news, NY Sen. Thomas proposes a bill to combat NFT and crypto fraud.

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