Home
News
- With a DeFi Hub and a marketplace for producing and selling NFTs, OKEx is expanding its decentralized financial reach
- The new DeFi Hub requires an OKEx Wallet connection, a multichain decentralized wallet available as a browser plugin from the exchange
- NFTs are verifiably unique representations of digital and real objects and are widely utilized as a new approach to producing digital art
With a DeFi Hub and a marketplace for producing and selling NFTs, OKEx is expanding its decentralized financial reach. With the launch of DeFi Hub, a decentralized digital asset ecosystem that includes a marketplace for nonfungible tokens, the global crypto exchange OKEx is stepping up its decentralized finance (DeFi) activities (NFTs).
The crypto spot and derivatives exchange said on Thursday that it has launched its DeFi Hub, which includes two first tools: NFT Marketplace and DeFi Dashboard. Users can mint their own NFTs to sell on the NFT Marketplace for a royalty charge specified by the inventor. Users will be able to import nonfungible tokens (NFTs) from other supported platforms, such as OKExChain, into the OKEx NFT Marketplace, where they will be able to purchase, sell, and trade nonfungible tokens with zero fees paid out to OKEx.
The new DeFi Hub requires an OKEx Wallet connection, a multichain decentralized wallet available as a browser plugin from the exchange. The DeFi Dashboard function provides a comprehensive view of users’ decentralized assets across key blockchain networks and protocols. DeFi Hub wants to expedite the adoption of nonfungible tokens with the NFT Marketplace, according to OKEx director Lennix Lai, highlighting the need for a complete framework for the fast-growing NFT industry. They are also excited to introduce DeFi Dashboard, which will provide much-needed enhancements to customers’ cryptocurrency portfolio displays, he said.
NFTs are verifiably unique representations of digital and real objects and are widely utilized as a new approach to produce digital art. Because they are nonfungible, unlike the conventional currency, their value is determined by the purchasers’ hunger, and digital art may fetch seven figures in the NFT world.
NFT markets are becoming the next frontier not only inside the crypto ecosystem but also in the broader technological world, as demand for this new kind of digital ownership grows. Alibaba, the Chinese e-commerce behemoth, established an NFT marketplace last month to enable trademark owners to sell tokenized rights to their intellectual property.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
