Timothea Horwell | March 19 2021
Timothea Horwell | March 19 2021
Orion Protocol announces the first ever NFT Aggregator: aiming to aggregate every NFT Marketplace into Orion Terminal. Doing so will enable greater accessibility of the NFT market, allowing users to trade any ERC20 token for an NFT. Perhaps most critically, Orion Protocol is launching the first NFT Oracle, enabling fair pricing data to ensure the sustainability of the NFT space.
Despite the recent surge in popularity, the NFT (non-fungible token) space is still in its infancy. Much like the wider crypto industry, 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’re looking for.
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 Protocol will be the first platform that sits between the end user and the entire crypto market. Now, this will include NFTs.
Today, Orion Protocol has announced that it will become the first NFT Aggregator: aggregating all major NFT marketplaces into Orion Terminal. NFT marketplaces will provide liquidity to the Orion network to drive accessibility, liquidity, and volume to the currently fragmented NFT space, benefiting users and marketplaces alike.
For the marketplaces themselves, this will provide an additional point of access to listed assets, driving significant volume to their marketplace and visibility for sellers.
For the end user, aggregating all NFT assets into one terminal will provide one point of access to the entire NFT market. Not only will this benefit seasoned NFT traders by reducing the need to trade across multiple marketplaces, it will increase accessibility of NFT assets to a wider user base through displaying them all seamlessly on Orion Terminal. 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. Transactions via this swap will add to Daily Protocol Volume for staking returns.
To date, the space has become populated with overhyped celebrity sales, and is at risk of being classed as ‘a bubble’ as a result. Orion Protocol is focused on ensuring the sustainability of the DeFi landscape as a whole, and that includes the burgeoning NFT space. As such, Orion Protocol will feed back price data to marketplaces via the industry’s first NFT Oracle. Orion NFT Oracle will enable fair pricing data determined based on sales and sentiment, ensuring the sustainability of the NFT space.
Alongside this development, Orion Protocol will be launching its own set of NFTs to unlock benefits on the Orion Protocol platform. Sign up below to be the first to be notified about them.