• The AAX Exchange is preparing for the launch of the NFT market

  • AAX Exchange is gearing up for the debut of its NFT marketplace, beginning with intriguing marketing initiatives.

    The Asia-based Exchange plans to debut its flagship non-fungible tokens (NFTS) platform soon, offering high-end works by chosen artists. To launch the platform, AAX will allow users to auction off their NFTs for a charity cause. In addition, they can win themed NFTs after trading.

    This initial foray into the NFT arena will culminate in the minting and presentation of a series of high-end NFTs. These will be created in partnership with an artist whose identity will not be revealed.

    Toya Zhang, COO of AAX, discussed the impending launch:

    Other types of changes will inevitably result from technological advancements. The most recent wave saw the transition from cassettes to Spotify and much more. The same innovations occurred in the field of art: the use of 3D printing for installation artworks was a stunning revelation. NFTs are enabled by blockchain technology, which allows artwork to exist in the virtual world with its uniqueness and value.

    She went on to say:

    The overall market capitalization of NFTs is incomprehensible. We are taking a tiny step ahead by opening up the NFT universe to additional users and encouraging artists to experiment with different work types.

    To begin, the exchange is hosting a fortunate draw to give users the chance to win the AAX mascot of Alex and Ava 7 themed NFTs. Users can also join in the NFT charity initiative by letting their creative side shine. All they have to do is submit their own NFTs, from which AAX will choose the top 5. These will subsequently be auctioned off on the NFT marketplace.

    According to the exchange, half of the proceeds from NFT sales would go to a charity fund, while the other half will go to the creator’s AAX account. Furthermore, the wins will be distributed in BTC at the current exchange rate.

    As the world’s first crypto exchange powered by LSEG Technology, AAX dominates the Asia-Pacific crypto derivatives market for institutional investors. With this attractive range, it now hopes to lead the NFT industry as well.

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