Tezos not only conserves energy but also saves its users some extra funds which they would have spent on transaction fees. Transaction fees start at 10 cents, which is a tiny proportion of what they’d pay on the Ethereum blockchain.
Tezos’s popularity has been on the increase over the last couple of months. Most especially, the blockchain platform has become a growing destination for NFT projects since it implemented the powerful FA2 token standard, which is similar to Ethereum’s ERC-1155. Several NFT marketplaces have caught the public eye but OBJKT definitely grabbed more attention.
What is OBJKT?
OBJKT is presently one of Tezos’ largest marketplace and to many, it is a “posh” version of Hic et Nunc, another marketplace on Tezos. OBJKT features a more enhanced design and provides its users with more functionalities. The NFT platform is more user-friendly in general. Users can view historical NFT listings and also follow real-time transactions. OBJKT is Tezos’ first and largest FA2 marketplace, allowing users to auction and trade tokens through smart contracts.
Users who own HEN-based NFTs can sign in to OBJKT using their Tezos wallet. They would be able to view every detail of the NFT. This includes information on the creator and number of editions available and the total numbers sold and if any are currently for sale. Furthermore, the platforms display the % of royalties. OBJKT recognizes the royalties of NFT creators from the original platforms where they were minted.
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👉 https://t.co/B6i6NK1fTR pic.twitter.com/4OcrOPxVjD
— objkt.com (@objktcom) May 27, 2022
Support and Features of OBJKT
OBJKT uses the Beacon SDK to connect users’ Tezos wallets. This means that the platform supports several wallets. Here are a few wallets that it supports:
- Spire,
- Kukai wallet
- Naan wallet
- Temple wallet,
- Galleon,
- AirGap
- Autonomy
Currently, there are two types of auctions available on the platform:
- English auctions: The highest bidder wins after a set period of time.
- Dutch auctions: The price is set high and gradually declines until a buyer accepts it.
OBJKT also offers full support for NFTs from other Tezos-based platforms. This includes Interpop, Kalamint, and Bazaar Market, TZ Colors. OBJKT aims to bridge the gap between Ethereum and the Tezos NFT ecosystems in the long run. Here are a few features of OBJKT:
- Featured collections
- Great wallet support
- Collection collaboration
- Minting (via Hic et Nunc)
- Repricing an NFT without delisting
- Statistics (Historical prices, Top sellers, etc.)
- Split royalties
- Large marketplace
- Buying/ Selling (Listings and auctions)
- Bookmarking artworks to get notifications
- Collection collaborations
- Mint tokens with multiple creators
- Supports a variety of formats (images, videos, music, etc.)
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REACHBACK (x/3), sold for 82,500 XTZ @XCOPYART pic.twitter.com/kMaqWBHirS
— tk (@tomkysar) May 28, 2022
What Does OBJKT Mean for Tezos?
Throughout 2021, there was a considerable rise in concern about NFTs on the environment. Tezos is a far more environmentally friendly option. As a result, the Tezos NFT market grew in popularity. However, the NFT world is very competitive. The various platforms try to outdo each other by offering top services and rolling out frequent upgrades with new features.
Hic et Nunc, once the leading NFT marketplace on Tezos, shocked the world with its sudden closure. Although it did return as a DAO, the baton fell on OBJKT to offer more stability to Tezos’ NFT users.
This marketplace can be likened to the OpenSea for Tezos NFTs. This is because it hosts everything from JPEGs to videos and songs. Until the latter half of 2021, profile pictures and avatar projects were not common in the Tezos community. All that changed thanks to OBJKT.
It also brought along custom smart contracts. This marketplace is a good place to monitor volume, floor prices, and hot collections across the Tezos NFT community. This is all thanks to their seller and buyer leaderboards.
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— objkt.com (@objktcom) May 19, 2022
According to Dappradar, OBJKT has a trading volume of $4.67M and 17.3k users in the last 30 days. In conclusion, OBJKT is an NFT marketplace worth a glance. Its popularity on Tezos isn’t set to dwindle anytime soon.
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