Crypto Exchange FTX is releasing an NFT marketplace in collaboration with NASDAQ-listed Dolphin Home entertainment, a leading entertainment marketing, and premium material production company.
According to a press release released on Monday, August second, the job will combine Dolphin’s innovative and marketing expertise with FTX’s knowledge of cryptocurrencies to develop an international NFT marketplace targeting brands within the ” sports, film, tv, music, gaming, eSports, cooking, way of life and charity markets.”
FTX, previously called crypto portfolio tracker Blockfolio, is a Los Angeles-based cryptocurrency exchange that according to CoinMarketCap, is currently the 4th largest crypto exchange with a 24-hour trading volume of $1.7 billion. The exchange is owned and run by West World Shire Providers Inc.
Dolphin Home Entertainment is a NASDAQ-listed leading independent entertainment marketing and premium content development business. Through its subsidiaries 42West, The Door, and Coast Fire Media, the company offer skilled tactical marketing and publicity services to a lot of the top brands, both private and corporate. The company likewise has its Non-Fungible Tokens (NFTs) department, Dolphin Digital Studios, devoted to developing, producing, distributing, and promoting NFTs for itself and its customers.
According to the announcement, this will be a large-scale, consumer-facing NFT market for major sports and home entertainment brand names. As part of the partnership, Dolphin Entertainment will establish and execute the imaginative branding, production, and marketing of this program. FTX will ” utilize their crypto exchange services and technical development as the foundation of the markets.”
Costs O’Dowd, CEO of Dolphin Home entertainment, stated:
“We see the trading of NFTs as far more than simply a list of digital products –– we view our marketplace experiences as the future of fandom for internationally-recognized brand names and franchises in sports and home entertainment. To attain this vision, we have searched for the absolute best innovation partner. We are incredibly thrilled to partner with Sam, Brett, Avi, and the entire team at FTX, who we think about as the marketplace leader for consumer experience in the crypto and blockchain worlds.”
This is not the very first NFT venture of FTX exchange. On June 3, FTX launched an NFT marketplace by itself site, where users might buy, sell and hold them, in addition, to withdraw the tokens to their personal wallets.
Brett Harrison, President of FTX, about the task, commented:
“Dolphin’s reach and scale throughout all of popular culture are really remarkable to us. We are delighted to construct marketplaces with Dolphin, both because of their ability to gain access to material and IP, however also because they are leaders in public relations and influencer marketing for each significant vertical of entertainment. With that said, there are several products on the horizon that we can’t wait to introduce together.”
NFT market is growing by leaps and bounds. The marketplace for these digital possessions hit $2 billion in sales during the very first quarter of 2021. According to some sources, the weekly trade volume of NFTs has surged past $339 million in the last week, which is a more than 70% increase from mid-July, when the NFT weekly trade volume peaked at $209.27 million.