Fantom (FTM) Launches NFT Artion Marketplace, Transaction Fees Are Almost Zero Percent

JAKARTA – Fantom Foundation officially announced the launch of a non-fungible token (NFT) marketplace a few weeks ago. Fantom's NFT marketplace is expected to compete with other marketplaces. The transaction fee service in Fantom's NFT marketplace is very low so it can attract more creators.

The Fantom Foundation stated that “the commission is 0 percent, with near-zero transaction fees.” The transaction fees are very low compared to other popular marketplaces such as Rarible, Opensea, and Makersplace. Reportedly, Fantom's NFT marketplace is called Artion. This launch follows the boom of NFT Cryptopunks which sold billions of dollars some time ago.

Fantom also has its own NFT project, namely Fantom Punks. Interestingly, Fantom Punks is not affiliated with NFT Cryptopunks developer Larva Labs.

The problem with the Ethereum network today is high transaction fees and latency. A number of other blockchains such as Avalanche (AVAX), Binance Smart Chain (BSC), Solana (SOL), Tezos (XTZ), Terra (LUNA), are able to provide lower gas fees than the Ethereum network.

Launching Bitcoin.com News, Fantom is a Blockchain network that aims to enter the DeFi, NFT, and Smart Contract space. The official website for the fantom.foundation website says that the protocol is a “fast, open-source smart contract platform for digital assets and DApps.”

Cryptocurrency Fantom (FTM) itself has skyrocketed 151 percent in the last 30 days. This week Fantom announced that its NFT marketplace, artion.io is in beta. Artion can be connected to Metamask and a number of other Coinbase DeFI compatible digital wallets.

“Artion is full-featured, open-source, fast and inexpensive: 0% commission, with near-zero transaction fees and fast finality you're used to,” wrote Fantom on the Fantom Foundation blog.

“Artion supports Fantom-based ERC20 tokens, starting with FUSDT, USDC, DAI and WFTM. Future releases will add support for more tokens— In addition, makers can set royalties at the time of printing and earn revenue from secondary market sales,” added the statement on the official Fantom blog.

In addition, the creator of Yearn Finance and Keep3rV1 Andre Cronje has an important role behind this Artion project. The coder also discussed the market and compared Artion to the popular NFT marketplace Opensea. Later, after the interview Cronje took to Twitter to post a picture of the Joker accompanied by the caption "It's not about money... It's about sending messages."

Currently a number of NFT collections have been featured on Artion.io. In addition, Artion also provides a service to print its own NFT collection. The latest information, Artion will add a built-in version of the Ethereum-Fantom NFT bridge.

“The next release of Artion will add a built-in version of the Ethereum-Fantom Anyswap NFT bridge for interoperability with Ethereum,” Fantom wrote in an announcement on its blog.

Fantom itself already has NFT collections such as Fantom Punks, Fantom Waifus, and Strange Brew. In the Artion project, tech-savvy users can review code for smart contracts, clients, servers, and market trackers.

"Our mission, in short, is to free creators from the high costs and constraints that limit the potential of imagination," the Fantom Foundation said.