Okcoin Launches Zero-Fee NFT Marketplace with Uncapped Royalties

Leading crypto exchange platform Okcoin has announced an NFT marketplace that will offer NFT treading at zero fees and support uncapped royalties.
Image source: Okcoin/Medium

Quick take:

  • Okcoin has announced an NFT marketplace with zero fees and uncapped royalties.
  • The crypto exchange platform has enlisted Randi Zuckerberg to empower women in crypto.
  • The platform will support the creation and trading of NFTs on several blockchains.

Leading cryptocurrency exchange platform Okcoin has announced its entry into the non-fungible tokens (NFTs) industry. The San-Francisco Calif-based company has launched an NFT marketplace with zero transaction fees for retail investors and uncapped royalties.

The new platform was announced by CEO Hong Fang alongside Serena Williams at the eMerge Americas conference. It will be the first NFT marketplace on a regulated crypto platform to offer uncapped royalties.

As part of its anticipated debut, Okcoin has announced an exclusive NFT drop, granting holders free crypto and NFTs. The company has already created a page where members can gain access to the waitlist. 

Okcoin’s decision to keep NFT royalties uncapped could be a significant advantage against rivals, which have placed caps ranging from 0-10%.

Commenting on the NFT marketplace, Hong Fang, CEO of Okcoin said blockchain technology should be able to empower creators with NFT by giving them the same freedom it has created for financial markets with cryptocurrency.

“We’re launching a free market for NFTs where prices and profits will be determined by supply and demand, more so than anywhere else. Web3 is about restoring economic power to the people, and at Okcoin, we’re doing our part by granting as much sovereignty to individuals as possible when it comes to their money, and now, their art,” she added.

The platform will also showcase NFTs from regions that have been largely marginalised by financial technology innovators. To make this plan a reality, Okcpin has enlisted Randi Zuckerberg and HUG, which Zuckerberg founded in February this year to support diversity in web3. The platform will feature emerging NFT projects led by women, BIPOC, and underrepresented groups.

Randi Zuckerberg commented: “Okcoin’s work in making crypto more accessible is vital, and I’m thrilled to be working with them to elevate more projects led by underrepresented groups, through my work advising on Okcoin NFT.”

In our roundup of the most influential women in NFTs published on March 8 to commemorate International Women’s Day, Randi Zuckerberg was among the top-ranked influencers on our list.

Zuckerberg said she had dedicated herself and her company to making NFTs an inclusive ecosystem because of the opportunities they can unlock for both creators and collectors.

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