Stratis announces plans to launch an artist-focused NFT platform

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and… read more.
on Apr 9, 2021
Updated: May 20, 2021
  • The platform will help artists create NFTs seamlessly by lowering entry fees.
  • Despite this news, STRAX price continues trading sideways with little movement.
  • The NFT race is intensifying as artists and fashion houses scramble to issue NFTs.

Stratis, a powerful and versatile blockchain development platform that aims to address the inefficiencies of real-world enterprise and financial services, is planning to launch an NFT platform. The firm unveiled this news on April 8 through a tweet, noting that the platform would focus on artists. Allegedly, the NFT platform will be decentralised and will charge low fees to let artists onboard the NFT space.

Upon receiving this news, the Stratis community on Twitter was ecstatic with some predicting that the network’s native token STRAX would soon make moon shots. However, the coin has continued trading sideways despite this bullish news. At the time of writing, STRAX is up 0.2% over the past 24 hours to trade at £1.83.

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STRAX’s daily volume is £7,100,830.65, making a 28.77% plunge over the past 24 hours. However, the coin’s market cap rose by 0.23% to reach £237,826,176.2.

NFT race intensifies

This news comes as players from different sectors continue rushing to launch NFTs for their products. For instance, a report recently unveiled that Gucci, among other leading coveted fashion brands, is planning to roll out an NFT. While the report did not disclose any specific date on which any of the fashion brands intend to launch their NFTs, it noted that once one brand follows through with its plans, the rest will follow suit.

Apart from the fashion sector, the music industry has also taken a keen interest in the NFT space with figures such as Akon, a renowned American-Senegalese music mogul announcing plans to launch an NFT platform. The platform is dubbed AkoinNFT, and it seeks to empower artists and brands.

Moving on NFTs have found their way into the love life of an American couple, which decided to get married on the blockchain. Reportedly, Peter Kacherginsky and Rebecca Rose, who both work at Coinbase, decided to get wedded on the Ethereum blockchain and leverage a smart contract dubbed Tabaat to create tokenized rings in the form of NFTs.

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