- Asia-based exchange AAX intends to launch its NFT marketplace featuring works from high-end artists.
- The launch will feature an NFTs auction for charity causes, a contest, and a series of exclusive NFTs.
AAX exchange plans to launch its non-fungible tokens (NFTs) marketplace. The flagship project will feature top works from selected artists. In preparation, the Asia-based exchange is allowing users to auction their NFTs for a charity campaign.
At the same time, users can win themed NFTs just for trading. The peak of the exchange’s NFTs venture will happen during the minting and exhibition of a series of premier NFTs. The exchange is, however, yet to reveal the identity of the NFT artist who will produce this grand collection. Toya Zhang, COO of AAX stated;
Technology advances will inevitably bring other forms of changes. The last wave we witnessed changed cassettes to Spotify and much more. The same changes occurred with respect to art: it was an amazing revelation when 3D printing was used for installation artworks. Blockchain technology enables NFTs and allows the artwork to live in the virtual world with its uniqueness and unique value,
The total market cap for NFTs is unfathomable. We are taking a small step forward but opening the NFT world to more users, and encouraging artists to try the new formats of work.
Plans for AAX NFT marketplace
At the start, AAX users will have the opportunity to enter a lucky draw. From this, they can win the AAX mascot of Alex and Ava_7 themed NFTs through a lucky draw. Other than that, users can submit their creations to take part in the charity campaign. From these, AAX will choose the best five and auction them in the NFT marketplace.
Additionally, users can develop their version of the AAX logo. They can use any creative style they wish; whether image, video, or music. Thereafter, they can share their creativity through social media platforms such as Twitter, Facebook, and Instagram with the hashtag #MyFirstNFTWithAAX, then submit their creation(s).
Following the campaign, AAX will shortlist the five best NFTs within 5 working days. The top NFTs will then be issued to www.solible.com for a week. Proceeds will be in BTC form as calculated with the live exchange rates of BTC and the traded token. Half of the proceeds from the NFTs sale will be directed to the charity fund. The other half will be placed in the NFT creator’s account.
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Growth and prosperity
Instituted in 2018, AAX exchange has bloomed into a top performer in the crypto market space. It is the first digital asset exchange to be powered by the London Stock Exchange Group (LSEG) technology. AAX is also the first to migrate to the Satoshi Standard (SATS) to encourage Bitcoin acceptance.
AAX’s simplified, fast and secure exchange offers numerous innovative products attracting 1 million users in more than 100 countries. In the Asia-Pacific region, AAX tops the crypto derivatives market for institutional investors. By Nov. 2020, AAX had experienced impressive growth recording over $1 billion in trading volumes.