Monaco Market has launched the first NFT marketplace for real-world items, allowing cryptocurrency investors to diversify portfolios with non-fungible tokens backed with physical collectibles. Those might be sports memorabilia, jewelry, or fine art, to name just three options, but the list could go on.
2021 has been a volatile year for cryptocurrencies. With this in mind, blockchain investors want to diversity and are now looking for more stable investment options. Monaco Market capitalises on this by tokenising items authenticated by industry professionals. These are then curated into collections, and ‘made digital’ as NFTs.
So how about the risk to buyers? Crucially, Monaco Market is promising a secure trading environment and a fixed 1.5% sales fee. This is offered through a partnership with CollectCoin (CLCT). A further 33% of all fees are then redistributed to CLCT holders.
Monaco Market Launch is a New Kind of NFT Marketplace
One of Monaco Market’s biggest claims comes down to the way traditional investment plartforms have rarely done much to accommodate cryptocurrency customers. This has left many buyers to seek out individual, independent deals alone. In turn, this often leads to high fees.
Monaco Market flips the model by bringing the real world to crypto rather than the other way round. As such, we see this among the most exciting developments in NFT markets. However, the huge rise in the number of NFT marketplaces is big news in itself.
Recently, we have covered a range of announcements that prove how fast things are moving within NFT marketplaces. Most recently, this included Sony and Eminem investing in MakersPlace. Meanwhile, RarePorn has promised to bring principles into porn alongside non-fungible assets. And elsewhere, OpenSea just confirmed support for decentralised metadata.
The incredible level of activity is hard to keep up with, but one thing seems certain. Predictions that within the next few decades “NFTs will be mundane” rather than cutting edge seem understandable considering the pace of development right now.