Victor Ugochukwu · Oct 30, 2020 . 8min read
Japanese exchange Coincheck partners with Dapper Labs to push for broader NFTs adoption in the region
Coincheck will be leveraging the new Flow Blockchain to develop and float the NFT marketplace for its digital art and collectible savvy audience.
By Victor Ugochukwu · Oct 6, 2020 . 5min read
Coincheck, a top cryptocurrency exchange in Japan, is looking to foster NFTs adoption among its digital art and collectible savvy audience with a partnership with Dapper Labs.
The exchange will be creating an NFT marketplace like OpenSea where anyone especially exchange users, can easily trade their crypto collectibles starting first with CryptoKitties.
Consequently, it will be leveraging the new Flow Blockchain to develop and float the NFT marketplace. And to ensure it captures much other digital arts and reputable crypto collectibles or anything that qualifies as an NFT it has partnered with Dapper Labs. This synergy comes as a strategic one because Dapper Labs is an established industry player in fun games with the technical support for digital collectibles.
Earlier in August, Dapper Labs secured $12 million in funding from NBA stars and others. The funding is for consumer-focused Flow blockchain that supports digital collectibles which is what Coincheck is leveraging upon today. For context, Dapper Labs is the firm behind the creation of crypto’s most popular game – CryptoKitties. The on-chain gaming platform saw one of its digital cat breeds sell for 600ETH valued at $170,000 then.
As anyone can attest, Japan is a hotspot for games and digital arts. They also popularized Pokemon, which became a global thing in no time. As Coincheck pushes for NFTs adoption in partnership with Dapper Labs, one can only assume the timing is right.
Top cryptocurrency exchanges waking up to drive NFTs adoption
A trend is beginning to build in the wake of another NFT popularity wave within the industry. Biggest cryptocurrency exchange by trade volume Binance recently made its foray into NFTs. The giant cryptocurrency exchange acquired 4,012 LAND NFTs in The Sandbox in September. Consequently, Binance plans on engaging with its community through social gaming experiences within The Sandbox virtual world.
A similar pattern is what we see here except that Coincheck will make NFTs investment accessible to its users. And with NFTs gaining monstrous attention lately, we have also seen NFTs auction in mainstream platforms like Christie’s New York. BLOCK 21’s auction on Christie’s New York is set to happen on the 8th of October 2020 for a price range of $12,000 to $18,000.
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Komal Joshi · Oct 30, 2020 . 5min read