CrossTower, a trading platform and digital asset investment firm, on Tuesday announced the launch of its global non-fungible token (NFT) marketplace.
The company said in a statement that the marketplace will provide buyers and collectors with a diverse set of NFT collection drops across segments, including exclusive news footage of Prime Minister Narendra Modi and Bollywood actors, among others. Users will be able to trade in both fiat and cryptocurrency holdings.
In a press release, the company said that buyers and collectors can access authentic and exclusive collections at the marketplace, like NFT drops of the IP rights of the Hollywood movie, Antara, and exclusive news videos from newswire agency ANI, featuring PM Narendra Modi, Amitabh Bachchan, Sunil Dutt, Princess Diana, and Sushmita Sen, among others.
Rohit Tandon, head of product for Blockchain and Emerging Technology at CrossTower, says: “NFT’s uniqueness and rapid adoption have created an extraordinary buzz among artists, creators, and their fans.” Therefore, we believe there is a need for a credible NFT marketplace to reach a larger audience, as movie actors, cricketers, and other artists enter the market.
CrossTower also aims to tap into the sports sector and celebrities’ personal collections. To ensure authenticity and due diligence, CrossTower has set up selection committees for NFT drops of the premium and exclusive collections it is offering on its marketplace, the press statement added.
The statement further said that CrossTower is also offering facilities like minting (the process of turning digital files into NFTs), trading, and dropping (the exact date, time, and minting price of an NFT). In addition, they have also created marketplace consulting services for NFT creators, thereby helping them with complex procedures, tax consultation, and by providing tiered advisory services.
Kapil Rathi, CEO and co-founder of CrossTower, says: “In 2022, the global market for NFTs will reach billions of dollars. The market is expected to grow to over $80 billion by 2025. CrossTower not only provides best-in-class tech infrastructure, but also offers an all-encompassing financial ecosystem with its listing, trading, and financing capabilities. CrossTower is well-positioned to grow alongside the NFT sector as it expands worldwide.
Also, with economies turning increasingly virtual, NFTs are also expected to enable the metaverse. According to blockchain data company Chainalysis, the global market for NFTs will reach $41 billion in 2021.
With the evolving NFT market, CrossTower aims to build a credible marketplace that allows creators and collectors to reach a wider audience. CrossTower’s rare and exclusive NFTs will be available to users at https://crosstower.com/nft, “the statement further said.
The marketplace was launched in partnership with Antara, a Hollywood movie; Terrain Art, the first blockchain-powered global art ecosystem; Shannon Rose, an abstract artist from Miami’s Wynwood district; Alejandro Glatt, a Tulum-based NFT multidisciplinary artist; newswire agency, ANI; and Mike Boornazian, an actor on HBO and TLC.
NFTs represent digital art, music, and gaming collectibles, backed by the blockchain technology that also enables the existence of cryptocurrency.