Abris, a company focused on non-fungible tokens (NFTs) and NFTs as a Service (NFTaaS), has rolled out its NFT marketplace and a white label NFT solution on the Algorand Blockchain Network. The firm disclosed this news through a press release earlier today, noting that its green marketplace for minting and selling NFTs prioritizes environment protection and profitability for digital art creators.
According to the news release, Abris leverages the secure, forkless, and decentralized nature of the Algorand blockchain to prevent the replication and duplication of NFTs. In so doing, the project ensures that offer buyers and collectors maintain the value of their digital collectibles. The platform also allows anyone to securely mint NFTs effortlessly.
Abris claims that its platform’s buy, sell, and resell marketplace is curated, seeing as all listed artists and collectibles are fully verified. Verified artists get 90% of the initial asset sales and 5% of all secondary sales. The company added that this payment structure has already attracted several renowned artists and photographers. However, the firm failed to disclose their names.
The company further noted that its team is working with leading galleries to mint the artists’ physical and digital art as NFTs. As for its white label solution, Abris said it would help artists, celebrities, galleries, photographers, and enterprises mint and auction NFTs as Drops.
A powerful synergy
Per Abris, its marketplace is eco-friendly because on runs on Algorand, which is a carbon-negative blockchain. The firm touted the protocol saying it runs on a unique consensus mechanism that makes it more efficient than other blockchains. Abris also pointed out that Algorand’s partnership with Climate Trade helps further reduce its carbon footprint.
Commenting on this launch, Abris CTO and co-founder Babu Ganapathy, said,
With Abris, barriers of cost and speed are greatly reduced for creators minting NFTs. We have a long roadmap of exciting new features to empower creators and make NFTs accessible to the masses and launching today is an exciting first step.
Delighted that Abris chose Algorand, the blockchain network’s Director of Business Solutions, David Markley, said NFTs present an opportunity for long-term value in the digital economy. On the other hand, Algorand technology offers security, decentralization, finality, and a low carbon footprint. According to him, creators rely on these features to ensure the value of their art lasts for a long time.
A ripe opportunity to take over the NFT opportunity
As the NFT market continues expanding rapidly, issues such as network congestion have become prevalent. An example is Ethereum, which recently had buyers pay record-high transaction fees after a chaotic TIME magazine NFT launch. These weaknesses in Ethereum position marketplaces like Abris for success as enthusiasts gradually move to more friendly networks.
