Crypto exchange Crypto.com enters NFT market! New platform will debut this Friday -

Cryptocurrency exchange Crypto.com announced today that it will launch an NFT platform on March 26 (this Friday) that will include exclusive works from well-known artists, musicians and brands.

The new platform allows fans to purchase scarce digital collectibles that are authenticated by the blockchain, and anyone (not just Crypto.com users) can buy, trade, and resell NFTs.

Crypto.com’s list of NFT artists includes rappers Snoop Dogg, Boy George, Axel Mansoor, crypto artists Klarens Malluta, Brainwash, and book publisher OPUS.

“From live streaming to AR/VR and in-stream audio, I’ve always loved exploring how new technologies can change the way I experience music,” said Mansoor. “Technology is best when it helps us connect with each other in innovative ways, and NFTs allow me to build deeper connections with my supporters.”

Boy George said: "Digital art is a new emotion, it can be very musical. I mix everything I do, music, art, fashion, poetry and everything else. I don't refuse to be influenced anymore."

Crypto.com’s foray into NFTs follows a surge in demand and value for crypto art and collectibles, with the three largest NFT exchanges seeing $342 million in trading volume in February alone, more than the entirety of 2020 combined.

Joe Conyers III, former chief strategy officer at Downtown Music Holdings, has joined Crypto.com as its executive vice president and global head of NFTs.

A number of works by famous artists and musicians will be released on March 26, and the platform allows users to pay with more than 20 cryptocurrencies, including Bitcoin, Ethereum and Dogecoin.

Famous figures entering the crypto space isn’t always a bullish indicator. While rappers Snoop Dogg and Gene Simmons may have helped send Dogecoin soaring to an all-time high last month, Bitcoin’s price didn’t seem to be affected when actress Lindsay Lohan tweeted that the crypto asset was going “to the moon.”

Crypto.com co-founder and CEO Kris Marszale said his goal is to increase the number of users on the platform to more than 100 million by 2023 from the current 10 million.

Image source: Crypto.com, pixabay