Will PancakeSwap’s NFT Marketplace send $ CAKE cryptocurrency to the sky?
The PancakeSwap (PCS) team has just announced on Twitter that the platform will be ready to launch its long-awaited NFTs marketplace very soon. The ecosystem of PCS continues to grow, and the Dapp does not especially want to miss the hype around NFTs. Good news for the CAKE token?
The rabbit puts on a new cap again.
This is the most widely used and well-known Dapp on the Binance Smart Chain (BSC) . The DeFi PancakeSwap platform is a decentralized exchange (DEX) using an AMM (Automated Market Maker). There is also the possibility of Farmer and Stacker , as well as the possibility of participating in ICOs or even playing the lottery with CAKE and BNB.
The only thing missing from the platform was an NFT marketplace, and it will therefore be done in a very short time:
“We aim to launch the first version of the #PancakeSwap NFT Marketplace and #PancakeSquad NFTs on September 22. All NFT Market Fees and #PancakeSquad will be used to redeem and burn CAKE $
I’m not gonna lie, I’m very excited. Are you too? “
YES ! It will take CAKE for MINT of NFT!
For those who have not yet entered body and soul into the incredible universe of NFTs, “MINT” means “Strike” just as we would say in French “Strike the currency”. It is therefore the process by which a digital artifact (photo, music, video, .GIF etc.) becomes part of the blockchain. In this case here the blockchain at the initiative of Binance, the Binance Smart Chain.
It is important to understand that each NFT has a signature which cannot be spoofed, so it is impossible to duplicate it .
This is a feature in high demand among BSC users , which does not yet have a proper NFT marketplace . There are indeed a few applications for trading NFTs, but nothing comparable to the incredible O penSea market on Ethereum , which is a global secondary market for all NFT resellers.
The team’s second Tweet was just as echoed as the first:
Indeed, you will have to pay fees in CAKE tokens (the platform’s governance token) to be able to mine its NFTs on the marketplace (the exact price is not yet communicated). In addition, PancakeSwap has already announced that all CAKE tokens, used to mine NFTs, will be burned and withdrawn from circulation, the objective being to mechanically limit the supply in circulation.
This is therefore excellent news for all fans of the NFT collection around the world, but also and above all for CAKE holders.
We do not yet know very much about this new feature, but it will undoubtedly be a big success considering the daily volume of the application, which far exceeds all of its competitors on the BSC. Moreover, PancakeSwap is not the only one to want to take advantage of the hype around NFTs. Recently the ICP crypto project offered 10,000 free NFTs! Don’t wait any longer to take advantage of this big gift!
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Published By : Journal DU Coin