Artrade is positioned to heavily disrupt the inefficient NFT market ecosystem with the upcoming launch of the world’s first Solana-powered NFT smartphone app, fuelled by a collaborative token sale event that has raised over $1.9m in a currently-active funding series.

Artrade, the world’s first Solana-powered social NFT mobile app, has launched the second round of a highly successful token sale event that, to date, has raised over $1.9m from thousands of NFT artists, investors, and community members with the goal of creating a streamlined, user-friendly, and accessible NFT ecosystem.

The Artrade project focuses on overcoming the inefficiency, fragmentation, and inequity present in the contemporary NFT marketplace by allowing anybody to create NFTs, share them via a wide range of social media platforms and tools, discover new NFT artists, and invest in their work via a simple, easy-to-use mobile app.

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NFT Marketplace Inefficiencies: Overcoming the NFT Accessibility Problem

The Artrade app is designed to function as the solution to a broad spectrum of issues presented by the rapid growth of the NFT marketplace. The NFT ecosystem has grown dramatically over the last year, evolving from a relatively small $100m industry at the end of 2020 to a $27bn global marketplace by Q4 2021, but is restricted by multiple interoperability issues, ethical problems, and a lack of coherent and accessible social features.

Within the current NFT paradigm, NFT investors typically identify and interact with NFT creators and artists via siloed social media platforms such as Instagram or Twitter. Artists seeking to build new communities must redirect investor and supporter attention toward third-party platforms such as NFT marketplaces or their own websites, creating a disconnect between the NFT community and their work.

Multiple technical and financial factors restrict accessibility to the NFT marketplace for less technically adept NFT investors and artists. Trades executed within the current NFT marketplace are typically executed via cryptocurrency only, with few options available to NFT investors interested in purchasing NFT artwork with fiat currency.

The relative technical complexity of NFT creation and distribution and the associated cost of NFT minting function as another significant barrier to entry for artists seeking to join the NFT revolution. Minting a single NFT on the Ethereum network, for example, incurs gas fees that can reach as high as $900. While some NFT marketplaces simplify the minting process, many NFT marketplace platforms charge exorbitantly high commissions that further the value provided to an artist for their work.

Artrade Fosters Direct Relationships Between NFT Artists and Communities

Artrade solves these issues by creating the world’s first accessible, fiat-enabled, community-driven social NFT app. The Artrade app can be accessed via any smartphone or mobile device, providing instant access to the global NFT marketplace directly into the hands of NFT creators and investors.

Rather than force NFT creators to interact with minting procedures or pay high minting fees, Artrade provides artists with the ability to instantly create NFTs for a fraction of a cent by leveraging Solana blockchain technology. NFT Real, one of the unique features of the Artrade ecosystem, allows artists to mint, share, and sell their creations directly with their supporters without interference from third parties or middlemen.

The social features of the Artrade app bridge the gap between social media-based NFT communities and the artists they support by providing direct integration with Instagram, Twitter, and other social media platforms. The Artrade app itself integrates a slew of features that promote discussion, sharing, and collaboration both within and without the app ecosystem, allowing the NFT community to discover, interact with, and invest in new NFT artists.

Direct fiat currency transaction integration promises a game-changer for NFT artists seeking to bring their artwork to supporters that may find navigating the cryptocurrency ecosystem confusing — Artrade makes it possible for artists and investors to trade both fiat currency and cryptocurrency for NFTs via a smooth, user-friendly interface.

Artrade Second Round ATR Token Sale Event Goes Live

While the Artrade app offers fiat currency and cryptocurrency support, the ATR token functions as the fuel of the Artrade NFT marketplace. Artrade’s native platform token provides users with the option to purchase NFTs at a discounted rate, generate ATR tokens simply by holding them or participate in decentralized governance features in order to assist in the future development of the platform.

The first round of the Artrade token sale event saw 150 million ATR tokens distributed amongst the Artrade community. The second round, currently underway, will see Artrade distributing a further 300 million ATR tokens to the NFT community.

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