A small portion of the proceeds generated through the sale of NFTs on Magic box will go into the Gate.io NFT Art Fund to support creators on the platform. NFTs created on the Gate.io platform can be sold on Magic Box and transferred to other supported platforms. Like most digital art platforms and decentralized NFT markets, Magic Box’s NFT auction and the trading platform provide both ‘Buy It Now’ and ‘Auction’ options. The NFT auction and trading platform is the most familiar part of the NFT marketplace for ordinary users.
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Additionally, Magic Box will use its resource advantages to provide professional technical support and institutional backing for famous works of art, fueling users’ creativity and ensuring value creation. Minting new NFTs on this platform is entirely free, which has its advantages over other mainstream NFT platforms such as OpenSea and Rarible. The creation platform encourages all users to create and express themselves in artworks in the form of an NFT. Magic Box consists of two main platforms the NFT pioneer creation platform and the NFT auction and trading platform. New users can easily create or trade NFTs simply by signing up on Gate.io, providing access not only to hundreds of cryptocurrencies but also to the entire NFT marketplace. Users of the Gate.io exchange can access the dedicated NFT marketplace and trade with ease.
This allows creators to focus on doing what they do best, creating works of art without worrying about the cost involved in minting and transferring new artworks.
By implementing the GateChain public chain and cross-chain protocol, Magic Box offers a high-performance, low-cost NFT market for creators, institutions, and ordinary users who are open to collecting NFTs. Gate.io’s NFT Magic Box platform (referred to as Magic Box hereafter) is the world’s first centralized NFT trading platform, focusing on incubating creativity within the NFT space while integrating simple asset management in line with the broader crypto market. How Gate.io’s NFT Magic Box Offers ‘Zero Thresholds’ For Creators In less than a week after the platform went live, it had already generated a high level of interest from users on the platform. The centralized NFT trading platform built on Gate.io existing platform was touted as the “NFT platform for everyone,” having several advantages such as a high degree of freedom for artists, no fees for minting NFTs and support for various different NFT platforms.
Gate.io’s NFT Magic Box platform officially went live on June 22, 2021, after being launched at the end of April. These exchanges offer NFT platforms a lower barrier to enter the market, giving them access to existing markets and millions of users. As the market continues to expand, exchanges have started shifting focus onto NFTs and the platforms they’re built on, ushering in a new era in the cryptocurrency space. Due to the already huge amounts of traffic these platforms receive daily, they have contributed significantly to the rapid growth and expansion of the DeFi market and reaped great benefits in the process. Decentralized Finance (DeFi) has had a major impact on the cryptocurrency market over the last year, directly impacting the centralized exchange (CEX) platforms that continue to sit at the top of the crypto food chain.
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