George Town, Cayman Islands, 19th March, 2021,
Orion Protocol is pleased to announce that it will launch an aggregator for non-fungible tokens (NFTs) An industry-first feature, the NFT aggregator, will provide users with a single interface from which they can view and trade all NFTs from every marketplace. Orion Protocol will also launch the first NFT Oracle, enabling fair pricing data to ensure the sustainability of the NFT space.
Despite the recent surge in popularity, the NFT segment is still in its infancy. Currently, NFT assets are fragmented across multiple marketplaces, with each marketplace competing for volume and visibility.
By their very nature, NFTs are unique digital assets that cannot be replicated. As a result, sellers have to choose the marketplace they think will yield the best price for their assets, while buyers have to hop between multiple marketplaces to find the assets they want.
Orion Protocol is built on the most advanced liquidity aggregator ever developed, and will soon aggregate every digital asset exchange into one decentralized platform. It acts as a gateway to the fragmented crypto market, aggregating the liquidity, order book depth, and trading pairs of the market into one portal. In doing so, Orion Terminal (live 31st March) will be the first platform that sits between the end-user and the entire crypto market. Now, this will include NFTs.
The launch of the Orion NFT Aggregator will mark the first time that buyers and sellers can have a holistic overview of all marketplaces via a single user interface. NFT marketplaces will provide liquidity to the Orion network to drive accessibility, liquidity, and volume to the currently fragmented NFT space.
For NFT marketplaces, Orion Protocol will provide an additional point of access to listed assets, driving significant volume to their platforms.
The NFT aggregators will offer significant benefits to all buyers and sellers within the NFT space. Seasoned NFT traders no longer need to trade across multiple marketplaces, creating a more seamless user experience. However, the NFT aggregator will also increase the accessibility of NFT assets to a broader base of users by displaying all assets on the Orion Protocol interface, reducing friction, and making it easier to enter the NFT markets.
Typically, most marketplaces take only BTC and ETH as payment methods. On Orion Terminal, traders will be able to seamlessly swap any ERC20 token for an NFT via a complex swap.
To date, the NFT space has become populated with overhyped celebrity sales and, as a result, is at risk of being classed as a bubble. Orion Protocol is focused on ensuring the sustainability of the DeFi landscape as a whole, including the burgeoning NFT space. As such, Orion Protocol will feed back price data to marketplaces via the industry’s first NFT Oracle. The Orion NFT Oracle will enable fair pricing data determined based on sales and sentiment, ensuring the sustainability of the NFT space.
Alongside the NFT aggregator and oracle, Orion Protocol will also launch its own collection of NFTs to unlock benefits on the Orion Protocol platform.
About Orion Protocol
Orion Protocol is the most advanced liquidity aggregator ever developed and will soon aggregate every digital asset exchange into one decentralized platform. It acts as a gateway to the fragmented crypto market, aggregating the liquidity, order book depth, and trading pairs into one portal. In doing so, Orion Protocol will be the first platform that sits between the end-user and the entire crypto market, connecting crypto to traditional finance and real-world assets.
Contacts
Chief Marketing Officer
- Timothea Horwell
- Orion Protocol
- timothea@orionprotocol.io
