Marketing and production company Dolphin Entertainment and cryptocurrency exchange FTX.US have announced a partnership to develop a non-fungible token (NFT) marketplace for sports and entertainment brands. FTX will provide technical expertise and Dolphin will take on the branding and marketing, leveraging the multiple PR brands it owns.
Apart from technical expertise, FTX brings deep pockets. Last month sister firm FTX Trading raised $900 million at an $18 billion valuation.
One of the issues with many NFT marketplaces today is the barriers to entry for consumers unfamiliar with cryptocurrencies and blockchain. Digital wallets and NFT marketplaces are often separate, and credit card or fiat currency payments are not always available. FTX’s technology can address these challenges. The NFTs will be available for direct purchase through the app and customer support will be provided when necessary. Purchasing options will also include credit cards and cryptocurrencies.
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