A Cardano-based decentralized exchange (DEX), Adaswap, revealed the launch of its NFT marketplace ADANFT after raising $2.6 million in a fundraising round.
To entice new users and curators, the marketplace will have lower gas fees while minting on the network in comparison to other marketplaces.
The platform claims to be developed to overcome the “poor curation” issue that is presented in most of the NFT marketplaces including OpenSea, Magic Eden, Rarible, and others. To tackle this issue, the platform will include its community in the selection process.
AdaSwap token ‘ASW’ holders will be able to vote on the NFT collection that they wish to list. The collection with major votes will be added to ADANFT’s offerings on a weekly basis. By doing so, ADANFT will identify the collection which will have the actual potential for sale.
Also, the person with the most tokens will receive additional benefits, such as access to the most valuable and exclusive NFTs, among other things. However, many people could raise objections against this approach that denies equal opportunities to mint and trade.
However, Adaswap’s CEO Lennon Qualmann stated “We are aiming to change the way NFTs interact with traditional finance protocols as well as changing the way NFTs are traded by bringing forward new and exciting ideas.”
The launch came after the recent fundraising round of Adaswap, which raised a total of $2.6 million with the help of many investors including actress and producer Gal Gadot and her husband Jaron Varsano.
