Origin Protocol (OGN) has entered into a partnership with Google Cloud to set up a marketplace for users where they can create and sell NFTs.
Several cryptocurrency ecosystems have rapidly adopted NFTs or Non-fungible tokens. A non-fungible token is a unique digital object that can represent ownership of physical or digital assets. Holders of an NFT are the only ones with the original version or type of asset or object it represents. This ability of NFTs has given rise to many exciting use-cases for the token.
NFTs have seen use in several industries and fields already, like NBA digital trading cards with video highlights and other bonuses attached to them. Or even as tickets for shows, events,and auctions. Artists and movie industries can also tokenize their art or content and sell it. Even real estate companies can turn access to a parcel of land into an NFT that can be made into a tangible token.
Origin Protocol (OGN) has had some success with NFT sales in the past. Several artists and entertainers have converted their works into NFTs and sold them on Origin auctions, like Justin Blau’s NFT album that sold for about $12 million in March 2021. And earlier in 2020, Origin helped Brave browser set up an online marketplace for their NFTs, that accepts OGN.
There are plans to expand Origin NFT coverage, with NFT sales from Lupe Fiasco, the hip-hop sensation, and Jake Paul, a professional boxer in the works. Yet Origin has more significant aims than hosting auctions. With an eye on dominating the NFT commerce scene, Origin introduced Dshop, a marketplace set up on Google Cloud’s platform.
Dshop promises to revolutionize NFT commerce’s future. The marketplace will combine two unique services: creating or mint NFTs and the high liquidity marketplace to sell them on.
Users of Dshop will be able to tokenize their digital objects using Web3’s MetaMask wallet to connect NFT minting sites like Mintable and OpenSea, where they’ll be able to turn their digital object into an NFT for free. The minted NFT will not be attached to these sites, however.
The user can then put up a listing indicating what NFT they wish to sell, buyers who connect to Dshop will pay in ETH or any other ERC-20 tokens, then the seller will transfer the NFT to them, and the trade would be complete.
Dshop will make NFT trading vastly easier for end-level content creators, put power back in the artist’s hands, cut out the middleman. And with new partners including Google Cloud signing on with Origin, their latest development Dshop will undoubtedly mirror other Origin platforms’ success.
Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.