The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
In the past month, over $1.3 billion worth of NFTs has been traded on various marketplaces. This includes 400,000 sales, with 217,000 of these sales being secondary sales, meaning resold after an initial listing. This secondary market activity has created a frenzy where limited NFTs can quickly go from being under the radar to front and center at leading auction houses globally.
For creators and collectors, the industry can be daunting due to the sheer speed it moves and how fragmented the industry is. The NFT discovery process is a challenge due to marketplaces that allow quiet listings, along with what seems like endless noise across social media. Additionally, there is a learning curve that includes understanding gas fees, web3 security, and decentralization in relation to art.
This leads to a few important questions: Where and how can NFT enthusiasts engage with each other and create together in an environment that suits their current lifestyle? Why have NFT platforms lagged in regards to mobile compatibility? Is there an easy solution?
The good news is that one company, Privi Pix, has found a solution to many of these challenges by building a new decentralized web and mobile NFT app that merges the best of both Instagram and OpenSea in one platform.
A One-Stop Solution For The NFT Community
Currently, NFT enthusiasts are left to rely on web platforms to create, design, and deploy NFTs. Nearly 55% of all people browse the internet predominantly on mobile devices, with blockchain participants likely to be significantly higher as a digital-first community. The NFT industry desperately needed a mobile app that would allow creators to design in-app, engage and collaborate with other artists, and do so in a safe and decentralized way.
Privi Pix offers these features while being sensitive to the artist community by using Polygon instead of Ethereum as the blockchain of choice. With Polygon, users can benefit from lower transaction costs, something that has been burdening and pricing out artists that have been left to rely on Ethereum for most NFT transactions in recent months.
Additionally, Privi Pix will allow users to browse all NFTs built on Ethereum in one place, creating a convenient discovery and engagement mechanism. For creators, there will also be a chance to sell NFTs via auction and even fractionalize NFTs with Pods. For more sophisticated users, collateralized loans against NFTs will also be available in the future.
$PIX Launching On August 26th With Top Launchpads
Privi Pix will leverage a native token, $PIX, to build decentralized governance that will ultimately give control back to NFT creators. The token will also be used to reward liquidity providers and stakers on the platform. $PIX will launch on PAID Ignition, SafeLaunch, TrustPad, and MANTRA DAO, offering interested users the opportunity to buy $PIX tokens as they enter the market. Following the IDOs, people can purchase $PIX directly from Pancake Swap.
Privi Pix marks the newest product to be launched in the Privi ecosystem, which is aiming to become the first decentralized Apple. With seven apps live, including a live decentralized app store called Privi Zoo and a decentralized music streaming service called Privi Trax, Privi has built a global community of over 100,000 people and is growing rapidly.
Disclaimer: This article is informational and educational in nature and does not represent financial advice. Please consult your financial advisor before investing in any digital asset.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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