Crypto exchange CoinSpot launches its own NFT platform

Learn more about the new NFT platform

Australian cryptocurrency exchange CoinSpot has announced that it is launching an integrated platform for non-fungible tokens.

The integration of the site into the exchange is designed to simplify the process of buying and selling tokens. The first NFTs on the platform will be the Bored Ape Yacht Club collection and the Gauntlet series from Australian author BossLogic.

According to the creators of the crypto exchange, they were the first company in Australia to receive a license from the supervisory authority AUSTRAC and began offering its users the opportunity to make purchases on the NFT platform.

The company plans to add as many collections of famous artists to its new platform as possible so that users do not have to switch from one platform to another to trade NFTs. It is assumed that users will be able to buy digital works for any of the cryptocurrencies presented on CoinSpot.

The developers state that currently no platform allows users to trade non-fungible tokens with the digital currencies they are comfortable with. As an example, they cite the OpenSea platform, where you need to register one of several wallets and trade NFT for a certain cryptocurrency. Most often, this currency is ether.

Recall that earlier the commissioner of the Australian Securities and Investments Commission (ASIC) Catherine Armor (Catherine Armor) said that cryptocurrency companies must comply with the same rules as financial institutions.

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