We weren't kidding when we said the past month has been a busy period for all of us at Switcheo Labs! Our team has been working long and hard and we are excited to announce the development of a new NFT marketplace on Zilliqa! Set to launch on ZilSwap — the brainchild of Switcheo Labs and Zilliqa that marked the latter's foray into the DeFi scene — the NFT marketplace is envisioned to be the go-to platform for all NFT enthusiasts, collectors, and artists within the Zilliqa ecosystem.
Enabling a more inclusive and accessible NFT ecosystem
The recent NFT boom has made waves in the crypto realm, but remains largely contained within the Ethereum ecosystem. While Zilliqa has been actively pushing to capture the market share of the NFT space from Ethereum, the ecosystem is still very much at its infancy. As an untapped blue ocean with massive potential, Switcheo Labs saw the opportunity to launch an NFT marketplace to help accelerate the growth of NFTs within the ecosystem.
The marketplace will be housed on ZilSwap, a DeFi platform that currently commands the majority share of DEX users within the community. As a platform that is well-positioned to capture a significant portion of the NFT space, the new marketplace will serve to further strengthen ZilSwap's position as the premier platform on Zilliqa.
Upcoming functionalities of the NFT marketplace will include a cross-chain bridge that allows NFTs on Ethereum to be bridged over to Zilliqa (and vice-versa), championing Switcheo Labs and Zilliqa's shared vision of enabling more inclusive markets and open economies. This is made possible by the synergy between Zilliqa and Switcheo TradeHub, the DeFi protocol that will power the ZilBridge.
Switcheo Labs x Zilliqa Commemorative NFT Collection - The Bear Market
In celebration of the upcoming NFT platform, Switcheo Labs and Zilliqa will be releasing a commemorative NFT collection cheekily coined - ‘The Bear Market’. Beyond the celebration of the marketplace launch, The Bear Market also symbolizes the collaboration, sustainability and longevity of our partnership with Zilliqa, tying in closely with the 1st anniversary of ZilSwap as well. The public sale of the NFTs is set for 15 September.