Abris launches eco-friendly NFT marketplace
The company is providing a green way in which to mint and sell NFTs
Abris has announced the launch of its non-fungible token (NFT) marketplace and white label NFT solution built on the carbon negative Algorand blockchain.
Abris believes the expansion of the NFT market is raising concerns over the environmental impact it has, therefore the company has provided what it claims is a green way in which minting and selling NFTs can take place. This “prioritises both the environment as well as the creator, through an easy-to-use platform design and artist-driven profit structure”.
Only artists verified by Abris can use the platform to list NFTs, where they can be bought, sold or resold. Abris said: “Artists who are verified to sell on the platform receive 90% of primary asset sales and 5% of all secondary sales, making it one of the most creator-friendly NFT marketplaces.”
The Abris team is also working with “leading galleries to mint their physical and digital art as NFTs and sell them on the platform”.
Algorand, the blockchain-based cryptocurrency platform, is recognised by Abris as the premier platform to create, launch and manage NFTs given its “proven inability to fork”, which means the network “will never split into multiple networks” that could otherwise result in duplication of digital artworks. As well as Algorand’s low transaction fees and claims of energy efficiency compared with other blockchains, the network’s carbon footprint is further offset in partnership with Climate Trade, an organisation that helps companies become carbon neutral.
“NFTs present an opportunity for long-term value in the digital economy”
David Markley, director of business solutions at Algorand, said: “We are excited that Abris chose Algorand as the foundation for its NFT marketplace and NFT-as-a-Service product. NFTs present an opportunity for long-term value in the digital economy, and Algorand technology offers the security, decentralisation, finality and low carbon footprint that creators need to ensure that value endures.”
Babu Ganapathy, chief technical officer (CTO) and co-founder of Abris said: “We are thrilled to bring this NFT marketplace to the doorsteps of creators worldwide, offering a simple, user-friendly interface to mint, sell, resell and auction their NFTs leveraging Algorand. With Abris, barriers of cost and speed are greatly reduced for creators minting NFTs.
“We have a long roadmap of exciting new features to empower creators and make NFTs accessible to the masses and launching today is an exciting first step.”
Drone Racing League partners with Algorand
In September, New York-based Drone Racing League (DRL) signed a sponsorship agreement deal with Algorand.
The DRL describes itself as “the global, professional drone racing property for elite pilots”, where competitors pilot their drones through virtual international locations at speeds of 80mph. The $100m (£72m) sponsorship deal with DRL will run for five years, making it worth $20m annually.
DRL president Rachel Jacobson said at the time the deal with Algorand is not only “transformative” but also the “perfect marriage” as both platforms cater towards a “tech-setter” fan base.