A soon-launching NFT exchange attempts to solve the energy efficiency issue of non-fungible tokens
Non-fungible tokens (NFTs) have had a breakout year in 2021 as they went from relative obscurity to being a regular topic of conversation on investment news and barreling into household conversation as celebrities from Snoop Dogg and Grimes to Twitter’s Jack Dorsey got in on the craze. However, along with the wild amounts of money being invested in digital art, there has occurred another conversation about the amount of energy utilized in minting, distributing and trading NFTs; a new venture seeks to bridge that divide.
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Designing a More-Ethical Marketplace
NFTopia, a new NFT marketplace set to launch on December 31st is set to reduce the emissions required to mint, or bring into existence, NFTs. As a cross-chain digital art exchange—set on Layer 2 on Ethereum—NFTopia also integrates NFTs of Solana, Cardano, and Binance Smart Chain in one, easy-to-use, (almost) gasless environment. NFTopia operates on Ethereum from a private node and layer-2 blockchain which reduces the amount of gas required for a transaction to nothing, just so long as the transaction is within the network. In addition to the transactions, the exchange will feature an array of tools for NFT creators, including a gasless minting function, the ability to transfer verification between networks, and API integration to make all transactions that much smoother.
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To promote the launch of the new platform, the team is staging a presale season, wherein each prospective investor may buy up to 85k TOPIA tokens throughout the four periods. In addition, the developers are holding an airdrop contest for those of whom who would like to get in on the ground floor, but aren’t quite ready to invest. These contests invite community members to bring new users into the fold, either by generating referrals or creating memes and short films.
Making Dreams into Reality
As for after the launch, the development team was tight-lipped but could not completely hide their excitement, saying of future partnerships with artists: “we’re not comfortable with dropping names right now, but we’re in talks with the top artists across Solana and Ethereum right now. Every day our dream is coming closer to reality, and we will publicize when deals are cemented. Our plan for the year is to become the place for NFT-related activities across all networks. Whatever the market requires within the next year, we want to be there to provide it.”
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