FTX Partners with Dolphin Entertainment to Launch NFT Marketplace

A new non-fungible token (NFT) marketplace was announced as a collaborative effort between FTX and Dolphin Entertainment.

FTX team has partnered with Dolphin Entertainment to create a new NFT marketplace focused on sports and entertainment brands. While Dolphin will take care of the creative side of things, FTX will take care of the crypto side of the business. Second variety, the market will be large-scale and consumer-oriented.

new partnership will see Dolphin develop and execute the branding, manufacturing and marketing of the platform. FTX, meanwhile, will work behind the scenes to ensure that the technical aspects of the market are in good shape. development of the platform together with the brands to target will be a joint effort. types of brands that the project is trying to capture are those that revolve around sports, film and television, music, video games and esports, cooking and lifestyle brands.

Dolphin Entertainment CEO Bill O’Dowd said: “In order to deliver a seamless user experience, where the portfolio and the product are all in one place; allow the consumer to pay with cryptocurrencies, credit card or traditional currency; make the product available to wholly owned and scheduled online destinations; have the same product available for purchase directly in the application; and having effective customer service when needed are great differentiators provided by FTX. O’Dowd goes on to say that with the two companies working together, the platform will immediately be on an equal footing with competitors that have already operated.

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Brett Harrison, President of FTXUS, added that the association creates and will help FTXUS access content and IP that would otherwise have been difficult to define. Dolphin already owns some of these IPs, including Door, a celebrity chef platform, and Shore Fire Media, a music PR company.

NFT sales keep increasing

NFT craze seems less of a trend and is something that is here to stay with more daily reports on new platform collections. While most casual crypto fans are familiar with Beeple’s $ 69.3 million NFT sale earlier this year, the truth is that there have been about a dozen sales of artwork from NFT alone to eclipse the $ 1 million mark.

Last week, a pair of NFTs from the CryptoPunk collection sold for over $ 1 million. One for $ 5.45 million and the other for $ 3.76 million. latest NFT was reportedly bought by famous social media businessman and influencer Gary Vaynerchuk.

In other major NFT news, Axie Infinity has become the most popular NFT market in terms of volume, surpassing the $ 571 million mark in the last month. Also, last week around $ 27 million in volume was recorded over a 24 hour period, while OpenSea handled around $ 9 million. According to DappRadar, a third of the 15 best-selling NFTs in July were Axies.

Read also Japanese authorities say Cardano investors underestimated the cryptocurrency tax by $ 6 million

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