Written by Logan Smith

On August 6, 2021

The world has rediscovered NFTs – here’s how Proton does NFTs better

It wasn’t too long ago that non-fungible tokens (NFTs) captured the world’s attention. Late night television hosts rolled their eyes, everyday people scratched their heads, and cryptocurrency enthusiasts around the globe scrambled to get in on the action.

As a brief refresher, NFTs – or non-fungible tokens – are a type of blockchain technology that allows authenticity and ownership to be proven for digital assets. NFTs can be used for things like digital art, collectible merchandise, event tickets, and even identifying documents. While the idea for NFTs has existed for a few years, they have only exploded into the mainstream consciousness in recent months.

Very suddenly after the explosion of popularity surrounding NFTs, the attention seemed to all dry up. People stopped talking about NFTs, people moved on, and the focus of the cryptocurrency community seemed to shift. Or did it?

Recently, we’ve seen a new wave of enthusiasm for NFTs, with some popular platforms reporting single day volumes higher than their entire volume for 2020. That doesn’t look like a passing fad — that looks more like a new piece of technology finding a foothold.

However, up until this point, buying and selling NFTs has been a painful process. Most centralized NFT marketplaces were designed with sluggish and expensive blockchains in mind; minting an NFT on the Ethereum blockchain, for example, could cost over $100 in gas fees – and buying a copy of the NFT wasn’t much cheaper. This placed a bottleneck on the accessibility of NFTs, as only creators who could afford to pay the fees, and buyers who could afford the fees on top of the listing price, could even speculate in the NFT space.

Proton does NFTs better

The introduction of Proton Market changes everything. Our open source NFT marketplace means buyers and sellers pay only a few cents in fees – a stark contrast to the cost of other Ethereum based NFT marketplaces. Plus, we made minting NFTs easier than ever; listing your creation is as easy as uploading a file and tapping create, no headache required.

Currently, all NFT prices on Proton Market are listed in Proton-wrapped USDC (XUSDC), meaning price calculations are simple and straightforward in US dollars. In the future, we plan to offer multi-asset support on Proton Market as well, which will expand the Proton NFT universe with XBTC, XLTC, XBNB, XEOS, and all of the top cryptocurrencies being utilized to interact with NFTs.

Proton Market – Highly Customizable, Highly Accessible

With Proton Market being open source, you can integrate it directly into your own website free of charge. This avoids sending your visitors to another website to purchase your NFTs, eliminating the potential for losing visitors and lowering the barriers between them and your creations. Have merchandise you’d like to sell? Want to offer exclusive images, videos, or audio files to your fans? Sell them an NFT of your creations and ensure they feel more connected to you than ever before.

Anyone can now turn their website into the world’s most active NFT community with minimal setup effort. Integrate Proton Market directly into your website today to begin experiencing the advantage of the Proton blockchain. More tools, more possibilities, more innovation – that’s the Proton difference.

Decentralized NFTs – just as it should be

We firmly believe that whatever can be decentralized should be decentralized; cryptocurrency is best when more people can exert small amounts of collective control, and this logic applies to our own projects as well. For this reason, we made the code behind Proton Market open source – meaning anyone can integrate Proton Market into their own website without needing to ask permission.

An open source NFT marketplace is one that allows creators to retain website visitors, meaning there are fewer pain points and opportunities to lose web traffic. To build on this momentum, we have also released an interactive version of Proton Market. With this, creators can not only integrate the Proton Market platform into their own website, but they can also change the way that it looks and feels so that it matches their overall style.

Creators interested in building their own NFT marketplace powered by Proton can get started by reviewing our open source documentation here. Have questions about what can be done, or interested in having us work with you when building your version? Reach out to our team at bizdev@metalpay.co and let us know what you’re thinking, we’d be happy to find a way to work with you as you build your dreams. If you would like to read this article in Korean, you can find that on our Medium page here.

Welcome to Proton, we’re glad you’re here.

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