The BNB Chain Fund has made a strategic acquisition of NFTrade’s utility and governance token, $NFTD, to bolster its continued growth within the BNB Chain ecosystem.
With mainnet released in May of 2021, NFTrade is the first multi-chain (and soon-to-be cross-chain) NFT marketplace, platform, and indexer, providing a decentralized and non-custodial solution for all NFT interactions across all of its integrated chains. Using NFTrade, anyone can easily create, buy, sell, trade, and earn NFTs seamlessly, creating a one-stop-shop for all NFT-based operations.
The two sides will collaborate on deal flow to introduce NFTrade to more BNB Chain projects that can benefit from its wide array of user-focused offerings. As part of this strategic acquisition, BNB Chain will focus on expanding NFTrade’s presence in its growing NFT ecosystem.
“The future of NFT marketplaces will be strongly reliant on a multi-chain structure. NFTrade is one of the rare teams that recognized it very early. Beforehand, NFTrade has already rendered great service to the BNB Chain community, and we believe this acquisition will, to a greater extent, deepen our collaboration and contribution to the mass adoption of NFTs in the coming MetaFi era.” said Clinton Teh, BNB Chain Growth Fund.
In addition to a simple-to-use marketplace interface, NFTrade also enables many unique value-adding features, such as escrowed peer-to-peer NFT swaps, NFT farming, and multi-chain interactions, all on top of its decentralized infrastructure, which could further unlock more value within the NFT market.
“BNB Chain is one of the most active and used networks for new and upcoming NFT-based projects. We benefit from this ecosystem and hope that this acquisition will allow us to better integrate into it and continue to optimize our products. We are confident that we can provide NFT players on BNB Chain with even better features that are both practical and innovative.” said Ori Levi, CEO of NFTrade.
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