As a seminal piece towards our mission of creating a real-time economy, RelayX is excited to announce the launch of our Non-Fungible Token (NFT) Minter.
From 1:45pm UTC 10th June, all users will be able to mint their own NFTs at relayx.com/mint
Users have already been able to mint Fungible Tokens (FTs) and now we add NFTs to our suite of tools. All NFTs that users mint will be instantly available to list for sale on the marketplace. Users who have a RelayX card will also be able to instantly spend their earnings nearly anywhere in the world.
The NFT minter marks a transformational point within the BSV space. As we have showcased previously, NFTs can facilitate sales of a physical item like the RelayX Card, digital-only items like the PewPew GIFs, or revenue sharing rights like the tickers. Tokens can represent an infinite range of goods and services within the Bitcoin economy. From bitcoin-backed tokens to time-backed tokens to tokens that redeem for an analysis report. What was previously sold in the legacy world can all be sold with less friction on Bitcoin. Markets that were not previously possible in the legacy world can be created and made liquid in the Bitcoin world.
A user selling an item on Etsy today for $4 can expect to only receive $2.50 in their pocket after the fee for listing, fee for selling the item and fee for transaction has been paid. Each fee marks a level of friction that RelayX wants to reduce or remove completely.
Now users who want to onboard onto Bitcoin can do so without going through an exchange and buying bitcoin with fiat first. Users can mint real world goods and services in the form of tokens and sell them directly for BSV. RelayX is happy to cover the network mining fees for users who do not have enough satoshis to mint a token.
We will continue to release tools that will help to properly curate, discover and launch tokens. Tools to help manage your minted tokens and ways to build trust and reputation for sellers are to come. We want to continue empowering creators with unique additions like royalties and more. The NFT Minter marks a further step in the transition towards a real-time economy.
The team at RelayX is looking forward to the further unleashing of creativity in the world. What NFT idea will you mint today?
P.S. In celebration of Coingeek this week, stay tuned to our @relayxio twitter for some exclusive NFT drops.