NFTs

Kollektor.io launches social media NFT tools on Algorand

Kollektor.io – an NFT creator powerhouse – has begun releasing a toolbox of Algorand based NFT minting and transaction tools seeking to empower artists to leverage and monetise their social media audiences.

In essence, the platform enables creators to sell NFTs from their social media channels – with Kollektor.io facilitating 1-click NFT purchases that include a direct fiat payment option.

The fiat option represents a marked leap in the space bridging the gap with conservative TradFi markets, boasting functionality for both debit and credit payments – Kollektor also offers creators the opportunity to receive payments directly to their bank accounts.

The Kollektor platform is now onboarding beta users.

Is there an appetite for more NFT platforms?

Last year saw huge growth in NFT markets – with surging interest driving market capitalisation to a whopping $41bn by the end of 2021.

However, NFTs have also emerged as the Marmite of digital assets – you either love them or hate them – and many have been left wondering whether there is still an appetite for more NFT products and platforms.

However, in the past few weeks alone, the first collection of NFTs went on display at the United Nations, the 2022 Winter Olympics launched NFTs in collaboration with Alibaba, and YouTube revealed it was looking to incorporate NFTs for content creators.

Kollektor.io positions itself to take advantage of these opportunities by targeting the lucrative niche of social media monetisation in light of the reported 50 million social media users worldwide that consider themselves ‘creators’.

Furthermore, the choice to build on Algorand (ALGO) represents strong consideration of the issues surrounding Ethereum-based NFTs.

Algorand offer low cost gas fees (transaction fees) at just fractions of a cent, and boasts serious environmental credentials as a completely carbon-negative blockchain network.

READ MORE: First Poker League arrives on Algorand (ALGO)

Sam Cooling

London-based crypto journalist Sam Cooling studied at the London School of Economics (LSE) before working as a Data Technology Consultant for the Fairtrade Foundation. Coin Rivet combines his passion for technology writing with his zeal for the Decentralised Finance revolution. Sam loves providing daily regulatory and alt coin coverage. Outside of the crypto world Sam loves boxing, and spends his time working with NGOs in Zambia.

Disqus Comments Loading...

Recent Posts

The surge of Bitcoin NFTs: Everything you should know about Bitcoin ordinals

From digital art to real-estate assets, NFTs have become a significant attraction for investors who…

3 weeks ago

MEXC Partners with Aptos to Launch Events Featuring a 1.5 Million USDT Prize Pool

Singapore, Singapore, 21st October 2024, Chainwire

3 weeks ago