TriumphX: “Through the World of NFT” Becomes a Mecca for the NFT Market

This year, the industry is focusing on NFT technology that can turn all online data, such as artwork and game items, into “intellectual property”. With “NFT-friendly” blockchain projects, there will be a chain of growth in related projects such as NFT trading platforms and expansion solutions.

Recently, the crypto friend NFT called “Alien” sold for $750,000 and the NFT artwork of Justin Loren, co-creator of the famous cartoon “Rick and Morty”, sold for $150,000. Why did NFT, which started as a simple transaction of digital items, create such a high investment value?

Blockchain industry keyword for 2021 “Activate NFT transactions”

According to the 2021 outlook report released by virtual asset research firm Messari, this year the industry is focusing on NFT technology that can turn all online data, such as artwork and game items, into “intellectual property”, and with “NFT-friendly ” blockchain projects, which will be accompanied by a chain of growth in NFT trading platforms, expansion solutions and other related projects.

NFT market past and present

An irreplaceable token (NFT) is a token that cannot be replaced or counterfeited, and is a digital asset that contains unique identification information recorded in a smart contract. Unlike general virtual assets where each token has the same price, NFTs are tokenized on the blockchain for products that have scarcity while each has a different value.

The NFT data platform Nonfungible.com tracks and provides transaction volumes for 125 ethereum-based NFT issuing platforms. According to nonfungible, NFT trading volumes have been insignificant since its explosive rise in popularity in the second half of 2017, but both volumes and average trading prices have risen significantly from Q3 2020 to date. With the public’s attention focused on NFT over the past six months, major players are moving quickly into this market and showing explosive growth.

Another thing to note is that there is no significant change in volume compared to the average transaction price. This is in contrast to the chart for 2017, when the average transaction price was lower and volume was higher. Unlike at the time when popular projects were trading among a large number of users, the data proves that the current NFT market is made up of a handful of asset owners who highly value their investments and jump into the NFT market. Certain NFTs exceeded $100,000 units, well above the price at which the general public could trade.

TriumphX: "Through the World of NFT" Becomes a Mecca for the NFT Market

Transaction size and average transaction price rise sharply from Q3 2020 / source : nonfungible.com

On the other hand, as of October 2020, OpenSea, the world’s largest peer-to-peer (P2P) NFT trading marketplace, has over 25,000 users and over $2.5 million in monthly transactions, and the individual trading market is steadily growing. If most blockchain companies consider attracting users, NFTs that include trading of game items, trading of digital art products, and other interesting NFTs can serve as an easy solution to attract general users to the blockchain market.

TriumphX: "Through the World of NFT" Becomes a Mecca for the NFT Market

Progressive rise in monthly OpenSea trading volume and number of users

TriumphX (TRIX Foundation) Converts Artwork, Mascots, Sports into NFTs

Blockchain companies that have identified the potential of the NFT market are jumping into the NFT industry one by one. One of these companies, a developer of both multiple NFT products and trading platform technology, will analyze their business direction and strategy.

TriumphX has shown a quick understanding and ability to adapt to the NFT market in conducting multiple NFT related businesses at the same time. Their idea is to connect all the world’s digital assets and blockchains in a NFT-centric way by focusing on the unique characteristics of blockchain “decentralization” and “individualization”.

Digital Collectibles, ENFTEE

ENFTEE.com, first launched in February of this year, was developed under the slogan “Digital Collectibles” to make all of the world’s digital content an asset to own, and ENFTEE is creating NFTs by expanding into different categories such as art, people and sports.

The ENFTEE platform developed based on Klaytn can be broadly divided into two categories: a marketplace function for buying NFTs and a wallet function for managing NFT assets. Since it provides a very simple user experience environment, from owning an NFT of interest to putting it in a wallet, it is designed in such a way that the concept of digital assets can be easily accepted by the average user who has no idea about NFT or blockchain concepts. The NFT released on the ENFTEE platform also plans to select popular global characters, artwork, sports, games and other popular industries to start transforming into NFT content.

TriumphX: "Through the World of NFT" Becomes a Mecca for the NFT Market

The Digital Collectibles, ENFTEE

In the character category, an IP contract was signed with Daewon Media, which has a huge global character IP, for the NFT series of characters that are popular in Europe and Korea, such as Jobless Tiger, Cupcake Therapy, and Caiquito.

The first collection listed in the art category is the NFT series of works by Rosa fantasy writers who have gathered popularity in Europe with their unique Korean moods. In addition to the public collection, a limited edition T-shirt with the “Rock&Robot” series will be delivered at the same time as the purchase of NFT by Kim Hongmo. The distribution station will deliver to all the holders worldwide except for the area where Corona 19 cannot be delivered.

TriumphX: "Through the World of NFT" Becomes a Mecca for the NFT Market

Rosa Fantasy’s ‘Rock & Robot’ NFT Series

TriumphX’s strategy is to promote the blockchain market, formed by a few groups, to the masses. This strong will is reflected by the fact that they first opened an NFT distribution platform consisting of a simple UX. In fact, the NFT market sees the level of influence and promotional power of content as a major success factor, and TriumphX’s strategy is in line with the textbook NFT market unfolding in the same direction.

Crossing the NFT World, Sole-X

TriumphX launched the beta version of its Sole-X platform at the end of April with the goal of enabling all blockchain-based NFTs worldwide to be traded on a single marketplace.

TriumphX: "Through the World of NFT" Becomes a Mecca for the NFT Market

TriumphX’s first cross-chain project Sole-X

The beta version of Sole-X supports transactions on 2 chains, 3 wallets and 4 tokens. This is to provide users with a wider variety of high-quality NFTs, minimize barriers to entry within the platform, and provide maximum convenience.

Currently, Sole-X supports the upload of Ether-based and Klaytn-based NFTs. connectable wallets include Ether-based METAMASK and Klaytn-based Kaikas and KLIP. as a means of trading, Ether (ETH), Klay, TRIX and USDT are all available.

Also, in order to trade on Sole-X, they need to be converted to Klaytn-based assets and deposited in the platform. This is done for two reasons. One is to eliminate the tedious process of buying multiple wallets and coin chains for NFT transactions based on various chains. In Sole-X, all chain-based NFT transactions are possible, even if you own one of the three coins.

Another reason is the cost. Currently, in Sole-X’s beta version, paying fees is free. In addition to the platform fees, payment fees are quite high in the large NFT marketplace of existing Ether chains. The very expensive Ether gas fees are quite inefficient compared to the relatively slow payment speed. On the other hand, in the beta version of Sole-X based on Klaytn, it supports overwhelmingly fast payment speeds and free payment fees. Based on this, Sole-X also has a secure auction system that allows users to host the required auction price when participating in an auction and deposit directly to the seller after winning the bid.

Sole-X is committed to a user-friendly marketplace. All configurations within the platform are designed to implement complex and difficult technical content using an intuitive UI. Users can take maximum advantage of all the services available in the platform without any individual guidance based on existing understanding and experience. Holders of NFTs at ENFTEE are naturally able to access a free peer-to-peer (P2P) trading experience on the TriumphX-prepared NFT marketplace.

TriumphX marks the pinnacle of NFT technology “metadata across the chain”

TriumphX’s content strategy and business strategy is backed by market-leading technology that supports TriumphX. TriumphX immediately introduces new technologies needed by the market through partnerships with top global blockchain technology-related companies. The internal development team constantly monitors the market and platform availability to fill gaps and connects external technologies to develop highly liquid platforms.

  1. Dynamic NFT, metadata mapping

The TriumphX series is gearing up for the next series in the sports space. Consultations with major sports teams around the world are competing to develop core content in sports, such as NBA header, which was the most recent issue.

TriumphX: "Through the World of NFT" Becomes a Mecca for the NFT Market

(Left) NBA Top Shot daily trading volume exceeds $6 million with server down case

(Right) Zion Williamson NFT cards trade at a record high of $100,000

Source: NBA Top Shot Mail Service

TriumphX’s sports NFT cards will not only contain profile pictures of famous scenarios and popular players, but will also display a technology that maps metadata containing players’ game records to NFTs. sports NFT holders have NFTs of their favorite players, while, through NFTs, they can view not only the latest game record updates, but also game record history. It is a thorough analysis of market needs and implements the factors that are of interest to sports fans through NFT technology.

TriumphX has entered into a technology agreement with Chainlink to implement dynamic NFT. chainlink is a decentralized oracle network that connects smart contracts to the blockchain and external (off-chain) data and systems in a secure and reliable manner. chainlink will use a distributed network of secure oracle nodes to map validated matching record data to NFT cards.

TriumphX: "Through the World of NFT" Becomes a Mecca for the NFT Market

Source : ko.chain.link

  1. “Cross-chain” for all chains in the world, all NFTs in one place

In the beta version of Sole-X, the core of the technology is to enable cross-chain transactions of various blockchain-based NFTs (including ethereum) in a single marketplace. To implement the cross-chain technology, TriumphX uses a protocol based on Orbit Chain, the world’s first decentralized and open IBC (Inter Blockchain Communication) platform that serves as a bridge for communication and free movement of assets between different chains.

Orbit Chain’s goal is to connect fragmented ecosystems and solve the liquidity problem of independent chains, which is in line with the vision of Sole-X. The Beta version of Sole-X was developed based on Klaytn, but thanks to Orbit Chain, NFTs based on chains other than Klaytn can be traded freely in Sole-X. The same applies to coins as a means of exchange.

TriumphX: "Through the World of NFT" Becomes a Mecca for the NFT Market

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/triumphx-through-the-world-of-nft-becomes-a-mecca-for-the-nft-market/
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