Non-fungible tokens or "NFTs" have taken the world by storm – what started with CryptoKitties in 2017 has since blossomed into a multi-billion dollar industry that has captivated the mainstream and crypto worlds. From digital art to collectibles to play-to-earn assets to fantasy sports to intellectual property, NFTs are creating new ways for creators, brands, and artists alike to engage directly with global users. Today, we are excited to take our next major step into the non-fungible universe with our first NFT marketplace, SOTA Finance!
Launched natively on the IoTeX Network, SOTA is an NFT marketplace that allows users to create, trade, and farm XRC721 & XRC1155 NFTs. The functional and user-friendly SOTA NFT marketplace will enable the IoTeX community to express their creativity, connect the physical world with the emerging metaverse, and expand the utility of NFTs to a new level. Get started with SOTA on IoTeX here.
Join us for a livestream demo of the SOTA NFT Marketplace this Thursday @ 9AM GMT+3! 👇🏼
In the rest of this blog, we explain the unique NFTs that are coming to IoTeX, as well as how to create and buy/sell NFTs on the SOTA marketplace.
Non-Fungible Tokens (NFTs) on IoTeX
The IoTeX Network saw our first NFT – Ucam Pioneer – in June 2020 and since then many other NFTs have been issued by our Delegates, community, and Foundation as symbols of digital reputation in the IoTeX Network. But we have much bigger plans to bring game-changing NFTs to IoTeX very soon! Holders of our "Pioneer" NFTs (e.g., Ucam, Burn-Drop, Pebble Tracker) will receive special benefits, including exclusive (and even free!) access to upcoming NFT collections.
As we anticipate the launch of Pebble GO, Project Linkstar and other Dapps, new NFT collections will soon come to life that deliver new investment/engagement opportunities for both users and projects. And with the official launch of Pebble Tracker in Q3 2021, "real world NFTs" derived from users' real world data and actions will be minted and traded freely on IoTeX – for more information, see our recent features on "real world NFTs" in CoinDesk & CoinTelegraph. Get ready!
SOTA NFT Marketplace Overview
SOTA Finance is a leader in the NFT industry that operates a multi-chain NFT marketplace across Ethereum, Polygon, Binance Smart Chain, and now IoTeX! With SOTA, users can seamlessly create their own NFTs simply by uploading their digital content and using SOTA's built-in MINT functionality. As a low-cost and dynamic NFT marketplace, SOTA hosts a variety of high-quality NFT collections from a growing number of global artists and content creators.
Thanks to IoTeX's latest code releases that introduced Web3/EVM-compatibility, SOTA was integrated directly to the IoTeX blockchain, which allows users to upload/withdraw NFTs directly from their IoTeX wallets. With SOTA, users also have great flexibility to create single NFTs (XRC721) and NFT collections (XRC1155).
⭐️ To create/upload NFTs with SOTA on IoTeX, refer to this guide.
In the future, IoTeX will work with SOTA Finance to bring advanced capabilities to users, including staking/lending/farming NFTs and bridging NFTs directly to other top blockchains. For now, we hope you enjoy this highly-demanded addition to the IoTeX Network – we can't wait to see what NFTs you will create!
Founded as an open-source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and confidential computing to enable next-gen IoT devices, networks, and economies. IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.