Crypto social trading platform NAGAX launches its non-fungible token (NFT) trading platform.
NAGAX, a crypto social trading platform, has announced the launch of its NFT platform, NXNFT. The NFT platform launch is accompanied by the rollout of the “NFT Creator Fund,” designed to help digital artists and content creators bring their NFT projects to market.
According to the press release shared with CoinJournal, NAGAX stated that applications for projects opened on May 1, 2022, and will remain open through July 31.
Selected NFT projects will have the opportunity to share in a $100,000 fund to support the launch of their collections. The NAGAX team explained:
“The NAGAX Creator Fund aims to give all creators and artists—even small-scale ones—the chance to participate and claim their portion of the $100,000 fund for launch support and marketing. In addition, the creator fund will help NFT projects mint and launch their collections on the upcoming NAGAX NFT marketplace.”
The team added that the fund is intended for artists, content creators, and anyone planning to launch NFT collections. By using the NAGAX NFT platform, creators gain direct access to a large community of potential collectors.
After the application deadline, the NAGAX team will contact the most creative artists and NFT creators via email, the NAGAX feed, and the platform’s official social media channels.
The team also stated that chosen projects will be announced by Monday, August 10, 2022, and will receive their allocated share of the $100,000 in marketing and launch support.
Selected creators and artists will have the opportunity to launch their NFT collections on the NXNFT Marketplace. Users will be able to mint and trade NFTs on this marketplace with zero fees. Artists can set royalties, sell via auction or fixed price, and export their NFTs to Ethereum-based wallets such as MetaMask.
NAGAX emphasized that its NFT Creator Fund differs from others by granting full rights to NFT owners. NAGAX concluded:
“Proceeds from collection sales will be the creator’s full and unlimited intellectual property.”