Solana-Powered NFT Platform Artrade Plans to Bring NFTs to the Masses

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NFTs became intensely popular where people can access digitized art tokens such as GIFs, videos, and other artistic materials. People can own NFTs. They can sell them too. However, the most popular blockchain, Ethereum where the bulk of NFTs transactions occurs is rift with high transaction fees called gas fees.

A new NFT project is launched on a daily basis resulting in a fragmented NFT marketplace and a hybrid ecosystem of sorts. Here comes Artrade, a social NFT app, which plans to transform the expanding NFT landscape with a focus on community, accessible, and near-zero fee NFT marketplace.

Artrade is a collaborative project that is community-run. Similarly, the team is strategically positioning the project as the top choice for artists all over the world to partner and exchange value. Artrade NFTs are supported on an environmental-aware blockchain, Solana. Also, the blockchain is insanely fast.

The team decided on the Solana blockchain as opposed to Ethereum for reasons such as cost, speed, and climate awareness. Ethereum blockchain is often criticized for its high transaction costs and the resultant effect of its operation on the environment. Two reasons motivated the team to select Solana; the first was its numerous assets, while the second was the rapidly expanding Solana community of users, investors, and developers.

By using the Solana network, Artrade can complete 60,000  transactions per second. On Solana, users pay $0.00015 per transaction that is facilitated under 0.4 sec. Choosing Solana was a deliberate strategy from the team behind Artrade who are concerned about pragmatism, climate awareness, and low transaction fees.

The Artrade application runs on the web and mobile as the frontend. Users can use either application – mobile or web to interact with the backend function via API rest before smart contracts are initiated. Minting NFTs on Artrade is unique. 

The smart contract allows users to mint their NFTs in several ways ending with a unique updated list that identifies an NFT and its owner. To ensure that identification is secure, minted NFT on Artrade is identified with a Uniform Resource Identifier or simply URI. This feature combines NFTs with a metadata set.

ATR is the token of Artrade. Users can find it on popular centralized and decentralized exchanges. The team at Artrade plans to expand the project in three years to serve wider international markets and communities. Artrade raised over $1.5M in the first round and $2.3M in the second round. Round 3, which started on Jan. 1st and will go through Feb 21st is currently live on their website.

Users can purchase native tokens using the “buy token” tab directly on Artrade’s website. Since sales have entered round 3, each token goes for $0.04, token buyers can purchase as low as $150 of tokens.

The team believes allocated tokens will be sold at each round. However, unallocated tokens that passed their expiry period will be allotted to the next round. Unallocated tokens at the end of the three rounds enter reserve.

To guarantee transaction safety, Artrade partners with Synaps to design a KYC/AML protocol. Synaps had worked with the popular crypto exchange Bitifinex and other PSAN to design their security infrastructure.

Tokens will be issued on Binance Smart Chain (BEP 20) for low transaction costs. Their smart contracts are audited by Certik, another secure fintech organization.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.