A series of lovely bear non-fungible tokens (NFTs) are live on the Zilliqa blockchain – the result of a collaboration between Switcheo Labs and Zilliqa.
Not that bear market.
Known as “Bear Market”, NFTs is a commemorative NFT series that will be available for pre-order on September 15 at 8am UTC. It celebrates both the long-standing partnership between Switcheo Labs and Zilliqa and the upcoming launch of the NFT platform on ZilSwap.
Recently, NFTs have been all the rage in the cryptocurrency market. These are essentially blockchain-based representations of tangible or intangible objects whose ownership can be transferred or maintained in the form of tokens. Since 2020, the NFT market has blossomed into a multi-billion dollar industry, compared to just a few million dollars as recently as 2019.
The Zilliqa blockchain will also get a piece of this action. The launch of the bear market will also be closely tied to the one-year anniversary of ZilSwap in October.
As such, the Bear Market consists of 10,000 randomly generated NFT bears with different bodies, heads, eyes, mouths and backgrounds.
These bears can be purchased with ZIL. Users will need a Zilliqa wallet to connect to the platform and purchase their bears.
ZilSwap NFT Marketplace
This release follows Switcheo Labs’ announcement that it is developing a new NFT marketplace on Zilliqa, envisioned to become OpenSea for Zilliqa.
The NFT Marketplace will launch on ZilSwap – a collaboration between Switcheo Labs and Zilliqa that marks the latter’s entry into the DeFi space – as the platform of choice for all NFT enthusiasts, collectors and artists.
With the recent tremendous growth of NFT, the Switcheo Labs team believes that Zilliqa has tremendous potential and has decided to launch this marketplace to help accelerate the growth of the entire NFT ecosystem on Zilliqa.