Polygon, Binance and Solana have been gaining strength in the NFT space recently. Fantom is the new player who has joined the NFT space and this has been one of the biggest steps for the chain. Looking at the NFT space and rising interests, Ethereum has tougher competitors on its hand. Fantom launched its open-source NFT marketplace called Artion, which already came with some really great features. Even though the launch is in the beta version, its functionality is what makes it look interesting. Charges for minting NFT’s costs just 10 FTM coins. Fantom also partnered with Chainlink for the price feeds.
However, what makes Fantom noteworthy is that bridges with Ethereum. This potentiality would make it the first cross-chain NFT marketplace, because allows transfers on NFTs between the networks. However, this announcement made FTM’s price to rise to 12.46%, (1.24 dollars at the time of this report) despite that the majority of coins and tokens were in red.
Fantom’s efforts to increase participation has been paying off. For example the recent incentive program Fantom offered, resulted in its total value locked (TVL) rising by over 71%. Its development activity has been pretty strong. It is a big indicator for the price of Fantom FTM coin, entering the NFT’s space can lead to its price to go even double, more than $2.5 for one FTM coin.