Sollectify Announces Development on Solana and Serum

Sollectify has announced its development on Solana, being built through Project Serum. The Sollectify platform is a marketplace for users to create, trade, and sell non-fungible tokens (NFTs) in a quick and easy manner. Sollectify is a promising project that offers NFT services that are currently scarce on the Solana blockchain.

By
Ifeanyi Egede
on
May 5, 2021
Category:
Breaking News

Sollectify Completes Development On Solana and Serum

On May 1, 2021, Sollectify announced that they were in the process of development on Solana, specifically being built through Project Serum.

The Sollectify platform is a creator-centric NFT marketplace where users can create, trade, and sell non-fungible tokens (NFTs) for various unique digital items such as game items and artworks. It is the first of its kind on the Solana blockchain. More updates regarding further development will be made available through their Discord and Telegram channels. Subscribers to the Sollectify newsletter will also receive all updates regarding the project.


Planned Features of Sollectify

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While only Solana-based arts can be sold, for now, the team is planning on adding cross-chain integration that allows the selling of ETH and BSC NFT arts. The team also plans to implement gamified NFT products in the near future. The NFT platform is one of the first available on Solana, meaning that users interested in NFTs will line up to utilize the project. Sollectify’s goals and plans coupled with its intelligent team inspire confidence and growth, which proves that people can invest in it with peace of mind. The Sollectify team has promised to keep innovating products, ensuring that it will be fast and easy for creators to earn from the NFT marketplace.


About Project Serum

Source: Serum Press Kit

Serum is the world's first completely decentralized derivatives exchange with trustless cross-chain trading. The Ecoserum (the Serum ecosystem) supports projects built on Serum by offering grants to development teams. It is based on-chain central order book model (CLOB) because it has been a proven model for traditional finance for many years. Solana's scalable design solves Serum's problem of expensive costs and long waiting time (a major challenge for on-chain order books). Since its inception, Serum has exceeded $3 billion in trading volume and burned $1.2 million $SRM. When projects add liquidity and volume to Serum DEX, $SRM holders benefit the most because the DEX fees are usually used to buy and burn.


About Solana

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Solana is a fast, secure, censorship-resistant blockchain built for global adoption. It is currently accepting registrants for its next hackathon which will commence by May 15. More than 3,000 builders are now registered for the event. Those who wish to learn more about the hackathon event can do so by following the hashtag #Solanaszn on Twitter.


Closing Thoughts

Previously there were limitations regarding what can be done with decentralized blockchains in regards to NFTs. However, thanks to the teams behind Sollectify, Solana, and Project Serum, the NFT industry is starting to push past those limitations. Once Sollectify is launched, creators will be able to push out their creative works and earn actual spendable cash from their media. Interested investors can subscribe to the Sollectify email newsletter here in order to receive updates. It is very promising that NFT platforms are launching on Solana blockchain, as their development is drawing new investors into cryptocurrency. With the many benefits of Sollectify being on this chain for both users and the developers, it should accelerate their launch date as user interest grows.


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Ifeanyi Egede

Ifeanyi Egede is an experienced and versatile crypto writer and researcher on fintech, the blockchain and emerging technologies. He has several published works online and in the print media. He loves reading, research, traveling, meeting people and football. When he is not writing, he spends time with his lovely wife and kids.