Woonkly.com Wants to Make NFTs More Accessible

While the blockchain sector has seen massive growth in the last decade in general, the last few years have seen the technology applied in many new and exciting ways. One of these has been NFTs, which are digital representations of assets on blockchains. 

This simple application of blockchain has spurred a billion-dollar industry of tangible and intangible assets being minted and sold as NFTs. From Jack Dorse’s first tweet to the singer Grimes art to memes, practically everything has become an NFT and for smaller artists, this can be a way to earn an income.

Pitfalls of the NFT Space

Despite all this innovation, the NFT space is not without its flaws. For example, many artists lack the technical knowledge to create the NFTs themselves and even when they do, getting their work listed on the top NFT marketplaces can prove a challenge.

The result of this is that the NFT space is dominated by a small handful of creators who have the resources to mint NFTs and are able to get their NFTs listed on the top marketplaces as well as promote them. This inequality is far from the ecosystem that can be achieved through blockchain and now, solutions are springing up within the NFT space to address these issues.

How Woonkly.com Comes In

One of these solutions is Woonkly.com, a Spanish startup that aims to connect more people through NFTs and also provide a way for creators to conveniently sell their works as NFTs. Woonkly.com acts as a social platform as well as an NFT trading space.

Using Woonkly.com, users can create NFTs out of visual, text, audio, and so on, and list them for sale. All these assets are automatically recorded on the Woonkly.com chain and users can connect to one another on the platform. These NFTs can be created in under five minutes and only in a few steps. 

First, the user needs to register and link their wallet to the site. After this, the file to be turned into an NFT is uploaded and then the name, price, and royalty fees are set. Then it is approved, minted, and a signature is added to it. The uploader can choose to set their own price or have the price determined by an on-site price fixer.

For those who want to buy NFTs, this can be done with popular cryptocurrencies or with the platform’s native WOOP token. Paying with the former attracts a 3% commission fee while paying with the latter attracts only 1.5% as a commission fee.

The result of all of these is an ecosystem where creating, marketing, and trading NFTs is simpler than ever. This will be even more apparent when Woonkly.com launches its social media platform on both the Ethereum and Binance Smart Chain networks as well as its upcoming metaverse. 

The Democratization of the NFT Space

The NFT space has been an innovative iteration of blockchain technology and the way that it can bring people together. Its growth so far has been remarkable and shows no signs of stopping. 

However, as NFTs continue to affirm their place in the world, it is important that they be democratized and made as accessible to the public as possible. From allowing creators to mint NFTs with ease to giving consumers convenient avenues to buy NFTs, the future of the space is certainly more equitable and accessible. 

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content was purely for informational purposes only and not intended to be investing advice.