The marketplace which will be known as “MaximNFT,” will comprise only NFTs offered by Maxim after collaborating with xSigma.
Maxim, a men’s lifestyle magazine, is collaborating with blockchain R&D lab xSigma Corporation, a subsidiary of Nasdaq-listed company ZK International, to develop an NFT marketplace, MaximNFT.com, in the coming months.
Maxim makes his way into the NFT Space
The partnership was announced in a news release issued by ZK International, the parent company of xSigma, which can be found here. It is the xSigma team that will own and run the MaximNFT marketplace, which Maxim will advertise and recruit customers to through the use of its brand and large audience.
Maxim has been a major men’s magazine for more than 25 years, reaching more than 10 million men in 75 countries each month with its content. Numerous celebrities, such as Megan Fox, Shakira, Beyonce, and others, have graced their covers over the years.
User convenience will be enhanced by the ability to effortlessly buy, sell, and manufacture their own NFTs using the MaximNFT platform.
A non-fungible token (also known as an NFT, or “Non-fungible token”) is a unique digital property whose official ownership can be verified through the use of blockchain technology. With MaximNFT, you may use NFTs on a number of different blockchains like Ethereum, Polkadot, and the Binance-Smart Chain, among others.
Interestingly, the platform is said to have a novel NFT trading function known as “NFT tokenization” that allows users to trade NFTs.
Users can utilize this functionality to break down a single NFT into several portions, each of which can be traded as a separate piece. On Maxim’s marketplace, this might contradict the long-held belief that all NFTs are fully unique digital assets, and they could even be treated as a form of digital currency.
xSigma is a blockchain research and development lab that is in the business of developing new blockchain technology.
In addition to developing products and apps for decentralized financial infrastructure (DeFi), stablecoins, and NFTs, they are supported by a team that comprises engineers from companies including as Amazon, Facebook, Google, and Ripple.
As well as hosting Maxim’s own NFT suite, the platform will also host digital assets based on well-known companies, athletes, and celebrities. The specifics of the suite have not yet been revealed. In 2021, the NFT market is expected to grow at an astronomical rate.
A significant increase in interest in the NFT area has occurred this year, with much of the increase concentrated in the last two months alone. According to data from Dappradar, the total value of transactions will reach $1.5 billion in the first quarter of 2021. The volume of NFT sales reached $896 million in just one month, according to the latest figures.
Maxim’s establishment of an NFT marketplace is very certainly motivated by a desire to cash in on the industry’s rapid expansion.
Sports, celebrity, and gaming-themed items will be the primary focus of their platform, which will be especially beneficial to the gaming sector, which they anticipate will grow increasingly reliant on NFT technology in the future.
